How much does market research cost?

How much does market research cost?

William A. Cohen (Author & Founder, Institute of Leader Arts) gives expert video advice on: What are the steps involved in market research?; What are tips for designing a survey? and more...

You can't say that there's a fix figure for how much. It can be expensive though and that's one the considerations that you always, I think anyone that wants to do market research should think about. There is a cost associated with it. It also takes time to do. And of course in some case, it allows your competition to see what you're doing. So, it's not automatic, I mean, one of the things warn about market research it is “good” but it's not that, you know, go down a check list, okay now I got to do market research start doing market research. It's not like that. So, you really have to think about it. And also, the cost the amount that you invest has an affect on how much you want to do. In other word, maybe gee you like to do a million dollar worth of research, but you don't have that much money floating around. And so, you do what you can.