Setting a Baseline To Measure Trends
January 29, 2021
In the A/E/C world, business is dynamic, constantly evolving, innovating, and adjusting. As marketers, we want to help our firms stay on the leading edge of the market so we can continually position our services well to our clients. We want to ensure we’re offering the latest thinking coupled with the tried and true. So, how do we do this? The answer is market research.
Market research allows a company to make evidence-based business decisions. It establishes clear insight and informed awareness of the political, economic, social, technical, environmental, and legal (PESTEL) contexts within which an A/E/C firm operates. Informed planning and positioning allow understanding of the live dynamics at play that will help companies navigate future change. Understanding market trends strengthens a company’s competitive position in its operational decisions, business development opportunities, and strategic choices. Research yields the data that permits a company to consider significant changes and take calculated risks with less heartburn.
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This article, written by Jennifer Van Vleet, CPSM, first appeared in Marketer journal.