You should define what you need to know and why. Once you have established your goals, develop a strategy and select the techniques you will use to gather data. The two broad types of research you can use are primary and secondary research:. Primary research consists of data collected directly from potential customers through surveys, focus groups, field testing, etc.
You can do the research yourself or hire a company to do it for you. If you complete the research yourself, you keep the costs down and have the added benefit of getting to know the market for your business.
A drawback of primary research is that it can be time consuming and expensive, particularly if you are hiring a marketing firm to conduct the research. The benefits are that you can target specific groups such as your customers or the geographic market for your business and tailor the study to answer specific questions.
Secondary research uses existing resources like company records, surveys, research studies and books. It is normally less time consuming than primary research, and can be less expensive.
While secondary research is less targeted than primary research, it can still yield valuable information. The following are examples of questions that can be addressed through secondary research:. Another key secondary resource is statistical data from official statistics providers, associations and private organizations.
When conducting research there are some questions you may want to answer, and primary or secondary research will help you find the answers. Some of the questions you can consider include:. Finding the data that can help you with your business decisions can be difficult, and some of the data can be expensive to purchase.
There are, however, a number of affordable statistical and analytical resources available to you, as well as guidance to help you make sense of all the materials available. The Research and Statistics section of the Canada Business website offers a number of categorized links to data and analytical resources, many of which are free to access. Other sources of secondary research materials include libraries, universities, industry associations and government departments.
The address of this page is: Click on one of the two buttons to access the content you wish to view. Factsheet Introduction to market research Share on: Market research can help you: Some other common situations that might call for market research include: The two broad types of research you can use are primary and secondary research: Secondary research involves searching existing information that has already been collected, such as demographic data and industry statistics, and using it in your own business or marketing plan.
The following are examples of questions that can be addressed through secondary research: What are the current economic conditions, and are they changing? For example, state, "Sales in grew 47 percent among those aged 16 to However, the same age bracket in a recent survey said it was looking for a product with more features. If the market research shows the company is dominating, say so.
If the market research shows the company is falling behind competition, admit it. The goal is to use the information to foster growth under any circumstance. Identify the company by a number of employees and include a dollar amount for gross sales in the most current completed year along with how that compared to the prior year.
Within just a few sentences, sketch out some starting points for board room discussion about where the company could be advertising, how it could refine its products or whether it could change its approach.
If you've gone longer than a three- or four-paragraph introduction, start editing. The intro's job is to lead people into the rest of the report, not repeat everything they are about to read.
David Hunt became a professional journalist in Marketing Plan Outline Microsoft. How to Create a Marketing Plan. Find a Job Job Search by. Depending on which text editor you're pasting into, you might have to add the italics to the site name. How to Write a Managerial Report.
Introduction to Marketing Research. Lesson; Exercise; Answer; Market research and marketing research are often confused. ‘Market’ research is simply research into a specific market. It is a very narrow concept. ‘Marketing’ research is much broader. It not only includes ‘market’ research, but also areas such as research into new products, or modes of distribution such as via the Internet.
Market research can help you get accurate and specific information about your customers and competitors, which is a critical part of starting or expanding your business. Consumer demands impact and direct all aspects of your company’s activities and can determine the .
Market research introduction. In latin america, for it states that persons belonging to ethnic group or tribe, completed later on with education pupils, teachers, special education for all the borders of former president carlos sa l menem in s charter. Marketing research is used to rally employees, chart the direction of a company and set goals for the future. This all starts with a solid introduction to the marketing report, which must be detail-rich but not meander from core points.
AN INTRODUCTION TO MARKET RESEARCH Market Research is a systematic, objective collection and analysis of data about a particular target market, competition, and/or environment. It always incorporates some form of data collection whether it be secondary research (often referred to as desk research) or primary market research which is collected direct from a respondent. In Module 3 you will learn about market research. After the module you will know the definition, role and types of market research in addition to the research process and the ethics of market research.