Small Business Research Power Point Series Market Research
Knowledge is PowerMarket research is a vital part to success on oroffline and has to be done on a continuous basis.There are two forms of research – Primary – information you gather and apply Secondary – information you obtain from othersourcesThis PowerPoint provides an introduction.
Gathering Primary Data•Use e-mail feedback forms on your web site toget market research. Use guest books on yourWeb site to get market research.•Post surveys in appropriate e-mail discussiongroups, newsgroups, and online forums.• Use Online panel site.
Gathering Secondary DataGet market research information fromgovernment web sites.Get market research information from hugebusiness databases on the internet.Get market research information from businessnews web sites.
What Primary Data? Find out what they visitors or customers likeand dont like about your business. Find out what new products or services theywant. Find what how to improve existing productsor services. Find out which benefits or features they likemost about your product or service.
What Secondary Data?Assess market size by customer segment,locally, regionally, nationally, internationally.Assess market size by product or service sectorDetermine market shareIdentify and Assess the CompetitionIdentify P.E.S.T.s…political,economic,social,technological factors…
Remember…Decide at the outset what your researchobjectives are……thenDecide how to meet those objectivesAn objective is, for example, find out the size ofor determine the views of …..start with a verband it will aid your thinking….It will seem tough initially – but as they say whenit gets tough the tough get going……..
Remember…Give e-mail surveys and polls to customers.Find out what they like and dont like about yourbusiness.Find out what new products or services they want.Find what how to improve existing products orservices.Find out which benefits or features they likemost about your product or service.