==== ====Check out this link for Telephone Marketing Boost:http://tinyurl.com/7y2pbh5==== ====Are you considering starting a business or improving the performance of the current one? Marketresearch will help you find unsatisfied needs in the market, give information about your customersor find out what your customers thing about your business and many more. The process includesthe creation of an exploratory research to get to know your target audience first, using secondaryresearch or qualitative research, consultation with experts or observation, and then verify theresults with a quantitative research. The final and most important step is to analyze and interpretdata collected.Market research is the process of collecting and analyzing information from target markets in orderto solve a variety of marketing problems. Market research will allow increased sales on a currentproduct or testing the feasibility of a new product in a potential market. Thus, a market researchwill be conducted to find different needs targeted consumers have, so that a product or servicecan be created or improved to satisfy consumers needs.Exploratory research: Get to know your audience first!Exploratory research has to be used first to understand the people who are to be interviewed andthe market to be researched. The main research activities include secondary research, qualitativeresearch, consulting with experts and observation.Secondary research includes finding data compiled by other people. Sources could include issuedreports by the government or specific market, industry and country reports found in newspapers,magazines, journals and on the Internet. Secondary research should be performed before primary,the collection of data on your own, or else data taken from a primary research might already exist,through secondary sources, and waste money.Qualitative research collects data through the direct interaction of the researcher with the targetaudience, either through group discussions or in-depth interviews. It aims to establish customersattitudes, values and beliefs.The use of Focus groups is the process of having people to discuss different subjects in groups,and thus allows the full interaction of the researcher with the targeted audience. It may provide richinsights into consumer motivations and behaviors because group members will probably feed offeach other. Qualitative research will help you create questionnaires that include questions aboutwhat is important for the respondent and worded in the language he uses and understands. Apossible flaw of the method is that interpretation of the results is highly subjective because itdepends on the skills of the moderator. Focus groups can be found today over the internet in theform of chat rooms or forums but with the absence of Body language and the interaction betweenthe group members.
On the other hand In-Depth interviews include interviewing consumers individually for one or 2hours based on a specific topic. It can be used when the presence of others can inhibit honestanswers and viewpoints. For example, participants might not be willing to share personalexperience with people they do not know and thus lie.In general, qualitative research is based on discussions and interviews with actual or potentialbuyers of a brand or service.Consultation with experts includes interviewing people who may not be part of the target segmentbut can still provide important marketing-related insights. For example, may include experts inuniversities or financial institutions. They can be useful in predicting future trends anddevelopments.Observation is useful when the product field is unfamiliar. For instance, watching people buy wineor paint in DIY stores will allow you to see how consumers use a product, observe any difficultiesconsumers have and eliminate them. The most basic form of observation is Ethnography whichinvolves the prolonged and detailed observation of consumers, how people interact around theirown environment.The objective of exploratory research is to get acquainted with the market and the customers andthus, being able to base the quantitative survey on informed assumptions rather than guesswork.The main quantitative data-collection stage: Verify and search deeper!Based on the results of the qualitative research, a questionnaire should be created to verify thedata collected, until this stage, and to look deeper in the marketing problem. The next step is tocollect data by interviewing targeted consumers, possibly, via face to face, telephone, mail or onthe internet. Response rates, effectiveness and the cost of the interview will vary based on eachmethod.Face to face interviews have the highest response rates out of telephone and mail surveys,because of the personal element present. Also there is no lack of control as to who completes thesurvey, allowing you to target your audience. It is more flexible, probing is easier and theinterviewer can ask for more clarification or be able to stimulate the interviewee to give a fullanswer. This could be achieved through the phone too but time pressure and the lesspersonalized situation will limit its use. Also Visual aids are available, for example drawing aproduct concept. Possible drawbacks include high expenses or causing bias responses, becauseof the presence of the interviewer, leading in socially desirable answers and the misreporting ofsensitive info. In other words, respondents might feel that the researcher is intruding their privatelife.Telephone interviews will generally give higher response rates than mail but lower than face toface interviews. It will allow a degree of flexibility, based on the skills of the researcher and probingcould be achieved but in a limited degree. The less personalized situation will limit the number ofquestions asked before the interviewee terminates or gives invalid answers to speed up theprocess. Also, Visual aid is not possible and it could create difficulties for the interviewee todescribe his thoughts in many instances. That includes instances where the aim of the research is
to generate new product concepts; in such cases it may be hard for consumers to describe theirthoughts.Mail surveys are the least expensive of the three. There is a high Potential for low response ratesand unrepresentative sample. Mail questionnaires are structured in a way that allows no furtherprobe and low control in who completes the questionnaire. Although Visual aids can be suppliedand bias is low, it will be used on a widely dispersed population which in turn will not allow you totarget a specific audience. Mail surveys will be used best for products that can be used by adiverse group of people in specific targeted geographic regions.The internet as a survey tool is even cheaper than mail surveys but the use of open-endedquestions is limited. Similar to mail survey overall but can be easier to implement at a global level.Researchers need to be careful not to spam respondents, even when they have a list, because ofjunk mail considerations by many email users. A key decision is whether to use the email or awebsite or a combination of the two for the distribution of questionnaires. Based on empiricalresearch, emails generate a higher response rate than websites. Who receives the survey can becontrolled via emails and the problem of the same person completing more than once the samesurvey is solved. Often web-based surveys are better displayed, more interactive and sometimeseasier to fill in when in a browser than in an email letter. This can be solved by sending an emailwith the html format of the survey. Another form of internet survey is the creation of online panels.Groups of consumers are recruited to respond to surveys for a small financial incentive and itallows specific targeting of groups.Data analysis and interpretation: The most crucial of all!The final stage includes analyzing and interpreting data collected. This might be the mostimportant part because you will have to identify what data are valid and what not and create anoverall result from the research which can be pretty much difficult if a lot of data was collected.Cautionary concern need to be taken in the interpretation of means and percentages and samplingerror must be taken in consideration, meaning that a sample may not represent the actualpopulation.Many people will choose to outsource the research to a professional agency, were they willconduct the whole process. This would cost more but it would, possibly, allow more accurateresults than conducting the research on your own, without any prior research experience. Imagineresearching a market on your own, because of inexperience, a mistake could occur either in datacollection or in its interpretation and cause you to take the wrong business decision that couldjeopardize your business. I am not suggesting that you should definitely hire an expert but I thinkthat, if you are a beginner in this area, you should definitely get the advice of an expert along thewhole process.In Conclusion, a successful marketing research will initiate based on a specific marketing problem.The researchers purpose is to solve this problem by collecting data from the market that canpossibly provide a solution. The correct process to follow is the creation of an exploratory researchvia secondary, qualitative research, consultation with experts or observation. Based on resultsfrom exploratory research, the researcher should create a survey to find more accurate data aboutthe problem in dispute using one or more methods, like face to face, telephone, mail and on theinternet interviews. The final step, which in my opinion is the most important one, is to analyze and
interpret collected data without any bias on the researchers part. In general, the most importantthing to consider is to be creative. You should thing your own ideas of how to collect data, possiblyby searching conversations on Facebook or by observing people in your local supermarket.Creating a business involves trial and error, learning from your mistakes; with a little research youcan avoid mistakes that would otherwise jeopardize your whole business.The Small-Business Course is designed to offer Business Knowledge to individuals that currentlyown or want to create a small business. The course is free and it will be updated constantly withfree articles covering different topics like managing Peoples, Organisations and Marketing. Visitthe site now for more information.Article Source:http://EzineArticles.com/?expert=Constantinos_Nicolaou==== ====Check out this link for Telephone Marketing Boost:http://tinyurl.com/7y2pbh5==== ====