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Traditionally, market research was conducted by going door-to-door and generating findings after meeting with potential buyers and customer segments. In the digital age, online market research makes more sense as it helps organizations reach out to their target customers and understand sentiments in a simple and fast process as compare to the traditional method.

Similar to traditional market research, online market research gathers information and preferences about the target group, product, or target market that enables organizations to develop strategies that best fit the purpose of generating revenue by catering to the market and taking quick decision.

Market Research is typically used not just for defining marketing goals and plans, but it also impacts the company’s sales strategy and targets, revenue numbers, product features and focus areas, services and offerings, and a lot more avenues.

Given the criticality of this exercise, online market research should have a defined strategy and focus on a real time basis.