Communication Avenue. Choosing The Right Market Research Methods
Communication Avenue Market research is a systematic and analytic process for which to understand the wants,
By: Communication Avenue
Choosing The Right Market Research Methods
Market research is a systematic and analytic process for which to understand the wants, expectations and performances of a prospective lead, customer or buyer. Simply put, it’s valuable data about a company’s industry, competitors and customers. It’s this data that will help set business objectives, as well as sales, marketing and brand awareness campaigns. There are many methods to gathering market data, such as online surveys, creating focus groups, using contact centres to facilitate phone interviews, and so forth. In order to help decide which tactics a company should use for their market research, a number of business questions must be answered. Here is just a small list to use as a guideline in helping choose the right market research methods.
· What is the goal or question trying to be answered through market research?
· What is the target audience?
· What media sources or events target this audience? (i.e. online websites, tv shows, re-occuring events)
· What is the budget?
· What marketing and advertising resources or tools are available?