How to Market Research

There are many opportunities all around us, we can use marketing to help us create even more opportunities for ourselves. Consumers research products or services all the time, thanks to the internet! By doing market research; you can learn about your target audience and what the best use of your resource is to connect to them would be. The research will help you to learn what your market uses as media sources, to what works or what would be ineffective.

There are two main marketing research categories; primary and secondary. Primary research is the main information, it tends to be more specific on your customers. An example would be; a business asks you to discuss with them your thoughts and feelings about their product or service. Secondary focus on records that commonly are open to the public. Information such as agencies or media is a secondary source to find information.

Creating marketing research or researching other information can be time-consuming but will give businesses information on their service or product to improve and learn what they are doing better than their competitors. Ask others about their opinions of your products or services with interviews or focus groups. Observe online competitors on what is working, what they could do better, or what they aren't doing. Set up your own surveys or preview them, so that you know how people will take your surveys allowing you to know how to absorb the results.

4 Things to Research in your Market:

- Define = Who is your target audience? What do you offer differently to your competitors?

- Identify = How to engage with your consumers? What information are your consumers looking for?

- Know = What do I need to do create to get my info to consumers or consumers to me? How can I tell consumers and create loyalty? Who are my competitors? What additional information do I need to research?

- Summarize = What information did I get? Did I answer all my questions and consumer questions with the results I got?

This is a chance to solve the questions or problems that you face. Don't be afraid of going back to the drawing board after you summarize the results you acquire. Thank you for joining the Equidae Family and if you are looking for more business or marketing information, you can find it in our blogs or youtube at Benner Stride.