Last week on our blog, we discussed the first 5-out-of-10 common mistakes companies make when establishing their market research strategies. If you missed the first post in this two-part series, check out Market Research Strategies: 10 Common Mistakes, Part 1. This week, we want to share a few more. If you can avoid these flaws in your market research strategies, you will experience a much more successful overall market research experience. Continue reading to find out more on these common mistakes!

Creating strong market research strategies is key for any business. In fact, a large degree of your success hinges on it. Whether you are an established company or an entrepreneur setting out on a new business venture, you must aim to carryout a strategy that has very few flaws. And, while your overall research goals will be unique, a mistake in your research strategy could be equally detrimental. In this two-part blog, we will address some of these common mistakes in order to help you recognize, avoid, and/or correct them.

Time is money. You hear this phrase often, yet many companies still spend countless hours searching for each individual market research report, only to find that they are not specific enough or lack the quality of information needed for their specialized vertical. That's why completing your market research in this manner will quickly evaporate your time and budget. And, if you're spending these valuable resources acquiring individual reports, the research had better answer your questions and address your specific needs, right? Unfortunately, this is not accomplished every time and with every report. So, companies must adopt the most effective and efficient methods for acquiring high-quality, vertical-specific research for the best value.