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'Web is cost-effective market research tool' | | 2008/06/27 | | Small to Medium-sized Enterprises (SME) can use the internet as an effective market research tool without breaking the bank, according to one expert.
Simon Lidington, vice president of Market Research Society (MRS) and chief exchanger of the Insight Exchange, has pointed out that while for large organisations with several products in different sectors the cost of conducting a market research campaign can be high, but for smaller firms this need not be the case.
He commented: "If you are a small organisation, you can conduct cost effective research online or by telephone or using qualitative techniques, which will give you feedback that won't cost you a fortune."
Market research carried out online is known to have a number of benefits, including the ability to reach out globally to a large number of people.
The UK's market research sector is thought to be worth in the region of £1.8 billion.
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