Market Research: Get the right information, Take the right decision

You can take the right decisions if you have the right information
Market research is one of the very important tools you need to evaluate, analysis and validate your business efficiency and chance of success.
You perform market research to get the below information:
Find out if there is a demand for your product / service
Analysis and understand your competitors, strength, weakness, market share
Identify business performance issues
Get data information perform SWOT analysis
Find out how shall you start, run and control your business
Get information that enables you to create business plan
   Market research methods
Expert firms
You can ask one of the firms that are experienced in this field to make a research for you and present the information you need
Online:
 There are several online market research methods like keywords in search engines, audience insight which is a Facebook tool, joining media groups ( LinkedIn, Facebook) in your business field can help you collecting information as well. Another online method is observing your customer’s profiles in media.
Surveys:
Visiting your competitor’s sites is great method to get required information about both customers and competitors,
Interviews:
One to one meeting is an effective way to get opinions and comments about the target market.


Comments

Post a Comment

Popular posts from this blog

Information is an important success factor , but how do we get it?

It is important to be aware of the inside and out in your field of work if you want to succeed in what you do. Whoever has the information has the ability to continue. Below we list the most important sources and tools that can help you find the information you need about customers and competitors: Specialists You can ask professionals with experience in this field to do research for you and provide the information you need  There are two types of specialists 1- Companies: Which you can visit or contact to help get what you need famous firms of this field are: • Integrity • Brand vision • TNS • AC Neilson 2- electronic platforms Which you connect to via the Internet and send a list of the required data. Famous sites in this field are: • Surveymonkey • WUFOO • Repucom Using the Internet (Online Research): There are many tools that help in collecting data over the Internet, the most famous of which are: • Facebook Audience Insights Help you know the interests of Facebook users. For e
Read more

Business plan is a key factor to start successful business.

Planning is a key factor of success. It helps you identifying your goals and the ways to reach them clearly. One of the most Important action to start your own business is to create business plan. It shows you the road you should go through to achieve success, it is also your reference that you measure your progress against to take corrective actions when it is necessary. one of important side of business plan it shows you if the data you collected during market research phase is enough for starting your business or you need to gather more information. you should start business plan by descripting your product / service and mention the ways you are going to introduce it. Then you add details of target market to determine the need for your business. Also you should describe you weak and strength points, opportunities and threats in SWOT analysis part. in Management part you demonstrate company structure and needed personnel to run business. then in operation plan you Provides an overvie
Read more