The decision to conduct primary market research generally derives from a major marketing challenge or question regarding a product or service. Here are a few points to consider that will determine the scope & methodology of the research and result in a successful outcome.
1. Objectives: Be clear on your reasons for the research, exactly what you want to find out, how it fits into your overall brand strategy, and your priorities regarding data collection.
2. Results-Oriented: Are you making a go/no go decision on a new product or an ad campaign? Are you looking for the optimal target for your product or service? Determining how you want to use the results will affect the research requirements.
3. Target Specifics: Be as specific as you can about whom you want to interview. Some people are harder to find, and some groups are more expensive to research than others.
4. Target diversity: Is your target audience homogeneous or diverse? Often, the size of the research sample is contingent on the diversity of the target population, and should include a minimum number of subjects for each segment, e.g., genders, age groups, usage groups.
5. Show and Tell: Do you need to show samples, storyboards, advertising slogans, or prototypes? This will impact the specific approach used and the associated costs, including material distribution, i.e., mail, online, etc., focus groups or a central location intercept.
6. Understanding deliverables: Most of the time, you can expect a detailed written report at the conclusion of a research study which can include an executive summary, charts and tables or quotes from respondents. The more detail you seek, the more it will cost.
7. Small teams: Try to keep your team small. The more people having input into your research, the more likely you are to have a study that is unfocused and ultimately, unsatisfying. The marketing director, product manager, and ad agency (if appropriate) are usually the optimal team.
8. Timing: How will the research affect other planned company initiatives? Don't wait until the last minute. Plan on 2-6 months (depending on the scope of the effort) from initial planning to deliverables.
9. Be Research-savvy: Make sure your research sample is comprehensive enough to be useful and to uncover trends. Unearthing patterns over individual opinions are what matters.
10. Budget: Primary research can cost anywhere from $5,000 to over $100,000. Fortunately, there are a number of ways to accomplish nearly any objective, so you have choices.
Primary Research Development - To learn more about this author, visit Michele Harris's Website.
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Michele Harris
(Visit Michele's Website)
Founder and President of SMARTi Solutions
(www.get
smarti.com), industry veteran Michele
Harris has spent 17 years developing
savvy, revenue-rich marketing and business
development programs for a client
portfolio that reads like a veritable
"Who's Who" among Fortune 500 companies
and the nation's premier advertising
agencies.
In 2001 Michele launched SMARTi Solutions,
a company that—in the span of five
years—has become the leading agency search
and business development firm for the
mid-size marketplace. Additionally, the
firm has received recognition, and a Small
Business Award, by the New York City
Mayor's Office for entrepreneurial and
business success.
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