Sustainability has become a key issue for businesses today. Market research can change their perspective towards sustainability by providing valuable insights into consumer attitudes and behaviours related to eco-friendly products and services. It can also help companies identify potential opportunities for growth in the green economy and areas where they may need to adjust their strategies.
Achieving Sustainability Goals
By understanding consumer preferences and trends, businesses can make informed decisions about best meeting their sustainability goals. IBIGRS can help in the assessment of the impact of sustainable initiatives and marketing campaigns that promote eco-friendly products and services. With this data, companies can develop effective strategies that will lead them toward greater sustainability success.
Development of Sustainable Products
Companies can use this information collected from market research to develop more sustainable products and marketing strategies that align with consumer values and preferences. This practice can lead to an increase in the demand for sustainable products and greater adoption of sustainable practices.
Identify Opportunities for Innovation
Market research can also help identify gaps in the market for sustainable products and services, which can provide opportunities for companies to innovate and differentiate themselves in the marketplace.
Identify Shifts in Demand
Market research can also help organizations identify key trends and shifts in consumer demand that may be relevant to their sustainability efforts. This information can be used to develop effective sustainability strategies, make data-driven decisions, and communicate the value of sustainable products and services to consumers. It supports businesses to be more sustainable and meet the changing needs of customers, society, and the planet.
The Market Research Society has announced a sustainability promise to address climate and environmental issues. As part of this pledge, the society will monitor and publish the industry’s carbon statistics to lower them.
IBIGRS plans on increasing the inputs towards building a sustainable environment to live in and making the most of all the insights and trends captured with the help of market research techniques. This will help improve the environment around us and change the narrative towards sustainability.