When a company struggles with any one aspect of the business, recognizing the need for a change of direction can be referred to as pivoting. Many companies have used market research to successfully pivot. A list of examples when market analysis proves a business pivot would benefit your company: First, Product Pivot - The way you see your product can be very different from how it is perceived by the public, but seeing how others will use it can help broaden your own perspective. Second, Marketing Pivot - The way your product is presented to customers is crucial to whether or not they buy it. Third, Customer Pivot - Customer segmentation is a critical aspect of marketing for a company. Fourth, Technology Pivot – Due to the evolving tech world and the many start ups that have been born, ideas for apps and social media continue to appear. Fifth, Competitor Pivot - Researching competitors will allow you to determine what decisions you need to make to stay on top. Read more at:
http://blog.marketresearch.com/how-to-use-market-research-to-pivot-your-business