Market Research to Stay Informed

Market Research Answers the Questions You Specifically Ask

Why Market Research?

What does my audience currently love? Hate? Want more of? How are my competitors performing? What is working for them and what is not, and why?

Many business leaders think about these questions daily - Market Research helps answer these questions. Whether through regular research or focus groups, Market Research is every business’s secret weapon to obtain real insights from target audiences and competitors.

What are Different Types of Market Research Strategies?

Market Research comes in various shapes and sizes. It may be daunting which Market Research solution works for you and your business, but I am here to help. Some examples are:

  • Research collected by yourself or the vendor (me!). The research collected through yourself becomes personalized data collected, meaning the data is unique to you and you only. Some types of primary research include focus groups, interviews, and surveys.

  • Data and insights that have been previously collected, analyzed, and published for everyone to see. This includes desktop research, white papers, and other reputable published content.

  • The practice of collecting non-numerical primary or secondary data that takes time to measure. This method summarizes and infers, rather than pinpoints, the exact truth.

  • The collection of primary or secondary data that is numerical in nature, and so can be collected more easily. Some examples include polls, surveys, desk research, web statistics, and financial records.

  • The practice of creating, maintaining, and managing a company’s brand. This can relate to images, logos, copy, values, tone, and more.

  • Consumer Research takes a look at the key influences that impact your target audience - the results encourage companies to adapt and make changes to maintain stability. Some examples include customer satisfaction research, customer loyalty research, and segmentation analysis.

  • Competitors are constantly evolving, and staying informed on significant changes is essential to ensure you’re staying competitive. Some examples include SWOT analysis, primary, and secondary research.

  • The practice of ensuring your products and services are fit for launching in a specific market and maintaining success. Examples include product testing, surveys, focus groups, brand testing, and other primary research methods.