Data. It’s what drives some of the most important questions that organizations ask themselves: How do we maximize our time and resources? Do our products and services meet the needs of our customers? What can we be doing to better meet those needs?
In the coming weeks we will be discussing how to make data work for your organization in the context of a market study. As we discussed previously, a market study (or analysis) is a powerful data collection tool that organizations of all sizes can use to gain greater insight into the need and demand for its products and services in current and/or potential target market(s). Additionally, conducting a market study is a strategy supported by funders and other key stakeholders, and the results of a market study can provide valuable information for an organization’s plans for geographic expansion, product development, and general business planning.
In a time of limited resources, market data is crucial to the ability of nonprofit and mission-driven organizations to grow and thrive. When armed with quality, real-world information, an organization dramatically improves its ability to make strategic decisions that will best maximize time, resources, and impacts.
With over 50 market studies under our belt, FUND Consulting knows just how useful market study data can be to an organization. We hope that you will follow along with us as we explore the market study process and how an organization can use the resulting data to drive improved and strategic decision making.