Basic Methods for Quality Market Research

While there are many ways to perform market research, most businesses use one or more of five basic methods: surveys, focus groups, personal interviews, observation, and field trials. The type of data you need and how much money you’re willing to spend will determine which techniques you choose for your business.                      

                                            

Marketing Research Kit - Good Marketing Research Terms and Ethics

Marketing can increase your sales and profits. To optimize your sales and target the best customers, you need to conduct research to pinpoint the best approach for your marketing communications and strategies. Ensure that you’re conducting the best research possible, recognize and question standard marketing research terms so you understand every step of the process, and practice good research ethics to protect your business and guarantee its success.

Are Customer Surveys really important and helpful to Small Businesses?

Because satisfied customers are loyal customers.  Loyal customers come back and buy from you again, and tell their friends all about the great service they have received from you.  Then their friends come and shop with you too.

Customers that are dissatisfied or just feel neutral are more likely to try the competition.  They won’t tell you, they will just do it, and they may never come back to you.

Big businesses know this, and carry out customer surveys all the time.   A number of small businesses however will often skip market research as they feel that they cannot afford it or that it is not relevant to them.  However customer research is important regardless of business size, here’s why:

How to Survey your Market – Thinking outside the Online Survey Tools Box

I am always going on about how much small businesses need to do market research, even those who are just starting up.   Market Research will tell you everything you need to know about your customers, such as how they buy your products, and what needs they have that can be fulfilled by your products.

Many soloist and small businesses rush out into the market with their new product idea without first answering these questions, and then wonder why nobody buys their product.

One of the main reasons that research is skipped is due to lack of funds to hire a research agency, however there are a number of tools and resources available to help you run your own research studies right here on this site.

Market Research - For Launch a New Product

Do you have a new product that you want to add to your existing range?  Or perhaps you are thinking about starting up in business and you want to know if there is a market for a particular product you are thinking of selling. It doesn’t matter if you have invented the product yourself or if you are selling other people’s products you are more likely to succeed if you have done some market research the among potential customers first to ensure there is a market for it.