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Marketing Research
- How do I conduct market research?
Chris Ferneyhough
Marketing ResearchThe steps to be taken when conducting market research are as follows:
Identify the problem or opportunity facing your business - are you looking to increase sales or are you launching a new product to a new or existing market, etc.
Use secondary data sources - journals, magazines, newspapers, government reports, annual reports, market profiles, etc. to determine the demographics, industry trends and buying habits of your market
Specify your sample group and gather primary data - who are you targeting and how will you question them? Send out surveys, conduct interviews, cold call consumers, create focus groups, contact existing customers, review sales records, etc.
Analyze the data and evaluate or re-evaluate your marketing strategy based on your findings
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About Chris Ferneyhough
Chris has been in the research industry for over 12 years, starting with Angus Reid Group, now Vision Critical which delivers best ideas and practices for marketing research in the digital age.
