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Innovation Insights: Make better business decisions with market research - innovate niagara

Innovation Insights: Make better business decisions with market research

Feb03

WRITTEN BY: BRYAN BLUE

Of the many services we provide to our clients at Innovate Niagara one of the most influential and beneficial resources is the Market Intelligence Research Reports service we offer through our partners at MaRS Discovery District (North America’s largest urban innovation hub).

This service supports our clients by leveraging data and analytics to overcome strategic challenges and providing access to globally recognized research and reports. The value of this service lies in the ability to better understand the market influences and then apply insights to market sizing, pitches, projections and more (the more thought you put into your questions the more valuable the research becomes).

Benefits of Market Research

  • Confidence in Decision Making: Transform hypotheses into data-driven strategies
  • Credibility: Draw upon reputable research, and increase investor and partner confidence
  • Expand Expertise: Expand your market knowledge and analytical tools

Successful entrepreneurs use market research to make better business decisions and maintain their company’s competitive edge. You can use this knowledge to create marketing strategies that take advantage of your competitors' weaknesses and improve your own business performance. Knowing your competition, and what they are offering, can help you to make your products and services stand out. Regardless of whether you’re starting or expanding your business, research is vital to understanding your target markets and increasing sales.

Going Global

A recent partnership with MaRS Discovery District and Export Development Canada adds a new value to our Market Intelligence Research Reports Service to help identify potential international markets while simultaneously exploring practical solutions for identifying new customers and extending your reach into foreign markets across the globe.

The two organizations have developed a program dubbed the International Solutions Suite, a portfolio of services to help Canadian tech companies identify and explore global markets. Through this partnership, this expands our abilities at Innovate Niagara to help our clients reach new and untapped foreign markets.

To learn more about and take advantage of our start-up services at Innovate Niagara, be sure to visit our website at InnovateNiagara.com and click the “become a client” link in the top right corner to set up an intake meeting with our team.

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Bryan Blue is a Business Analyst at Innovate Niagara. As a Regional Innovation Centre, Innovate Niagara supports innovative entrepreneurs and companies from a variety of industries start, grow and thrive through mentorship, market intelligence, workshops, connections and community. Reach out to Bryan here.

This article originally appeared in Business Link Niagara.