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1、THE STATE OF MARKET RESEARCHHow Business Leaders Use Research to Increase Sales,Retain Customers,and Expand Markets.2 2022 Hanover ResearchCORWP0622INTRODUCTIONAcross three years of curveballs,business leaders faced it all.Between labor shortages and supply chain delays to rapid shifts in customer p

2、references,companies had to adapt and act fast.In the aftermath,forward-thinking companies shifted from firefighting mode to expansion,entering new markets,attracting new customers,and developing new products.But,with aggressive growth comes increased pressure to deliver ROI by making the right expa

3、nsion plays.With their decisions under a microscope,the most successful business leaders thrived because they could measure(and exert control over)their growth path by using market research.Their measured,data-backed investments have paid off:Companies that rely on market research are more likely to

4、 increase sales,expand their market,and increase customer retention than those that dont.With nearly 80%of companies conducting market research in the last 12 months and more than two-thirds planning to increase spending on market research next year,companies that fail to keep pace will miss out to

5、competitorsIn Hanovers State of Market Research Report,we map how nearly 400 business leaders across the country leverage market research to achieve key business priorities.Youll learn about how leaders drive ROI from market research,the key projects and proven methodologies,plus market research pri

6、orities for 2023.Use this report as a roadmap to leverage market research to prioritize strategies,show the ROI of your initiatives,and outperform your business goals.of businesses report a positive ROI from marketresearch(n=255)95%say market research increases their sales(n=118)91%believe it increa