Market Research

While the Internet was developed as a military project, the World Wide Web was developed as a tool for academics to allow information to be shared freely. This foundation of the Web as an information tool has had profound effects on the markets we transact in.

Consider that consumers are able to research companies and products easily, gathering information to compare prices and service with a few clicks of the mouse.
 
Consumers are also able to share likes and dislikes easily, whether that information is shared with companies or with friends.

Likewise, the Web has an impact on market research. Its foundations in academia make it ideal for secondary research, with reports and data filed, indexed and available via a few savvy searches. Technology can also be used to easily, and accurately, conduct surveys. The connected nature of the Web also makes it possible to record data about consumers’ online habits.
 
For example, when researching the penetration of broadband in a particular market, a few web searches will reveal plenty of sources that can be compared and verified. If a company is wanting to gauge the demographics of visitors to their website, an online survey may be offered to website visitors. Thirdly, online reputation management tools allow companies to track consumer sentiment expressed online.