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Electric Patrol Car Market Companies, and Competitive Landscape Market Players : Henan Helida New Energy Vehicle Manufacturing Co., Ltd., Guangzhou Langqing Electric Vehicle Co., Ltd. Market research is an essential component of a business plan for any startup businesses. Search Businesses by Phone Number or Address, Identify DUNS Number, NAICS/SIC Codes & More Learn more with market research types and examples. Market research consists of two types of research, primary and secondary and almost every type of business requires market research in order to be successful. It is an important component of business strategy and a major factor in maintaining competitiveness.Market research helps to identify and analyze the needs of the market, the market size and the competition. This research is not just a one-off activity and should be incorporated in every marketing strategy. 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For example, through a small business funding market research study, we find that banks are reducing loan costs. Businesses use this information to design better products, improve user experience, and craft a marketing strategy that attracts quality leads and improves conversion rates. Joy Levin has been leading her research firm, Allium Research and Analytics, for 22 years, and recently launched a new line of business, Growth SurgeR, specifically designed for small businesses and entrepreneurs to leverage industry and customer insights.She manages all phases of qualitative and quantitative research studies for a diverse portfolio of clients, Learn more with market research types and examples. 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