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Table Of Contents

WHAT IS MARKET RESEARCH?
HOW DO YOU DO IT?
THE MOST DIFFICULT THING ABOUT MARKET RESEARCH
WHEN SHOULD YOU DO MARKET RESEARCH?
Before starting a new business
When introducing a new product or service
To maintain your existing business
THE FOUR BASIC PURPOSES OF MARKET RESEARCH
Analyzing the market
Analyzing the market’s response to your product or service
Analyzing the effectiveness of your advertising or promotion
Strategic planning
YOUR TWO SOURCES OF DATA
Primary data
Secondary data
THE TWO KINDS OF DATA
Quantitative data
Qualitative data
UNDERSTANDING DEMOGRAPHICS AND PSYCHOGRAPHICS
Demographics
Psychographics
GETTING TO KNOW YOUR TARGET CUSTOMER
TABLE 1 COMPARISON OF PSYCHOGRAPHIC AND DEMOGRAPHIC INFORMATION
SAMPLE 1 DESCRIBING YOUR TARGET CUSTOMER
CLEAR THE AIR WITH A BRAINSTORM
Choosing your participants
Choosing the facilitator
Running the brainstorming session
Two things a brainstorming session can do for you
FORMING YOUR HYPOTHESIS
IDENTIFYING THE INFORMATION YOU NEED
WORSHEET 2 FORMULATING YOUR BASIC RESEARCH QUESTIONS
SAMPLE 2 FORMULATING YOUR BASIC RESEARCH QUESTIONS
SECONDARY DATA: WHAT’S AVAILABLE?
WHAT KIND OF DATA CAN YOU EXPECT TO FIND?
Demographic statistics
Scientific study data
Media survey data
Public polls
Patent and trademark data
Legal information
Addresses and phone numbers
Information on business procedures
Prices and specifications
LIES, DAMNED LIES, AND STATISTICS
GETTING THE REAL GOODS
(a)Get as much data as you can
(b)Apply your own common sense to it
Get as much data as you can
Apply your own common sense to it
Decide whether you have enough data to make a decision
SAMPLE 3 WHAT SECONDARY DATA DO YOU NEED?
FINDING THE SECONDARY DATA YOU NEED
THE LIBRARY
Get ready for research
Your friendly reference librarian
Computer databases
THE BUSINESS DEVELOPMENT CENTER
WHAT QUESTIONS HAVE YOU ANSWERED?
WORKSHEET 4 ADDITIONAL QUESTIONS ARISING FROM YOUR RESEARCH
SAMPLE 4 ADDITIONAL QUESTIONS ARISING FROM YOUR RESEARCH
PRIMARY DATA: YOU’RE ALREADY SURROUNDED BY IT
THE INFORMATION YOU MAY ALREADY HAVE
Customer service inquiries
Salespeople and sales contacts
Coffee breaks
Trade journals
Service and professional organizations
Special promotions
Complaints
Visitor log records for Web sites
IN-HOUSE RESOURCES FOR MARKETING SURVEYS
HOW TO USE THE DATA YOU ALREADY HAVE
WHAT YOU ALREADY KNOW (OR CAN EASILY LEARN) ABOUT YOUR COMPETITION
WORKSHEET 6 WHAT YOU ALREADY KNOW ABOUT YOUR BUSINESS
Customers, other competitors, and suppliers
Networking groups
Newsletters
Annual reports and sales literature
The newspaper and other publications
The Internet
Yourself
HOW TO SEARCH FOR INFORMATION
PUTTING YOUR SEARCHES TO WORK
Product research
Charting
PRIMARY DATA:YOUR SURVEY METHODS
CHOOSE THE SURVEY METHOD THAT ACCOMPLISHES YOUR GOAL
(a)Polls/questionnaires
POLLS/QUESTIONNAIRES
HOW TO SELECT AND SCREEN YOUR INTERVIEW SUBJECTS
USING MAILING LISTS
Beginning your search
Types of lists
About reusing rented lists
Response rates
USING FOCUS GROUPS
PRODUCT OR SERVICE SAMPLING
Sampling tips
Test marketing
WRITING A QUESTIONNAIRE
THREE ELEMENTS OF A SUCCESSFUL QUESTIONNAIRE
(a)Make it the right length
Make it the right length
Ranking
Open-ended
How many types of questions should you use?
OTHER INFORMATION TO INCLUDE ON YOUR QUESTIONNAIRE
(a)An introduction
(b)Keying
An introduction
Keying
EXAMINING AND EDITING THE COMPLETED FORMS
TALLYING THE RESPONSES
By hand
By computer
CHARTING THE RESPONSES TO EACH QUESTION
SAMPLE 8 COMPUTER BREAKDOWN OF SURVEY RESULTS
DETERMINING THE MEANING OF THE RESPONSES
(a)Trends
(b)Similarities
Trends
Similarities
Contradictions
Odd groupings
IF YOU FIND THINGS YOU CAN’T INTERPRET
CHECK YOUR HYPOTHESIS
DECIDING WHEN YOU NEED A PRO
WHAT PROFESSIONAL SERVICES COST
WORKING PRODUCTIVELY WITH A PROFESSIONAL
THE ELEMENTS OF YOUR PLAN
(a)Four guiding statements
FOUR GUIDING STATEMENTS
Your mission statement
Your goal statement
The vision statement
The positioning statement
CORPORATE DESCRIPTIONS
(a)Management/job descriptions
(b)Product/service descriptions
Management/job descriptions
Product/service descriptions
MARKET ANALYSIS AND MARKETING STRATEGY
The market: Its strengths and risks
Strategy for reaching the market
FINANCES
(a)Start-up requirements
Start-up requirements
Funding sources
Projections
ACTION PLAN
Action timetable
Worst-/best-case scenarios
BUSINESS PLAN ASSISTANCE
YOUR BUSINESS PLAN REVISITED
ACCESSING MARKET RESEARCH DATA
USING COMPUTERS TO GATHER INFORMATION
DATABASES YOU CAN OWN OR ACCESS FOR A FEE
Online services
CD-ROMs/DVDs
Marketing information companies
A SAMPLING OF SOURCE MATERIALS FOR MARKET RESEARCH
DATABASES
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Market Research Made Easy

Market Research Made Easy

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Published by: ams_73 on Dec 21, 2010
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