Market Research – What’s That Then?
Market Research – What’s That Then?
1. Researching a market in order to produce a product to meet a perceived need.
2. Discovering the size of the potential market for a product.
3. Discovering what people want.
4. Deciding how much people would be willing to pay.
5. Understanding what encourages people to buy.
6. Understanding why a product you have is not selling.
7. Discovering who your potential competitors are.
8. Understanding what your competitors are doing in the market.
9. Deciding the best way to launch your product on the market.
10. Finding a niche – or hole in the market – that you can satisfy with one of your products.
Once you have decided on what questions you want answering – there are two main market research methods – the direct and the indirect methods.
• Direct: You go directly to your potential customers and ask them a series of questions. This is expensive and you need a standard set of questions plus some work afterwards in order to review the results. Usually potential customers are contacted via questionnaires or surveys. This can be done face to face, by telephone or via your web site. This kind of research is better for qualitative research such as what reactions to a product are, would you buy if…. etc?
• Indirect: This is research on a topic – or question via the internet or via researching a particular database – such as the National Statistics etc. This kind of research is best for quantitative research – such as how many? Where they are? Etc.
Market Research Whats That Then - To learn more about this author, visit Lee Lister's Website.
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People research for the following reasons:
1. Researching a market in order to produce a product to meet a perceived need.
2. Discovering the size of the potential market for a product.
3. Discovering what people want.
4. Deciding how much people would be willing to pay.
5. Understanding what encourages people to buy.
6. Understanding why a product you have is not selling.
7. Discovering who your potential competitors are.
8. Understanding what your competitors are doing in the market.
9. Deciding the best way to launch your product on the market.
10. Finding a niche – or hole in the market – that you can satisfy with one of your products.
Once you have decided on what questions you want answering – there are two main market research methods – the direct and the indirect methods.
• Direct: You go directly to your potential customers and ask them a series of questions. This is expensive and you need a standard set of questions plus some work afterwards in order to review the results. Usually potential customers are contacted via questionnaires or surveys. This can be done face to face, by telephone or via your web site. This kind of research is better for qualitative research such as what reactions to a product are, would you buy if…. etc?
• Indirect: This is research on a topic – or question via the internet or via researching a particular database – such as the National Statistics etc. This kind of research is best for quantitative research – such as how many? Where they are? Etc.
Market Research Whats That Then - To learn more about this author, visit Lee Lister's Website.
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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