Hello friends, :SugarwareZ-033:
I have developed the following four step process, which has help ensure that money spent on market research is spent wisely.
Step 1: Use research to solve specific problems and/or support specific actions. If what you will learn can't or won't be used to affect your business, then don't do the research, don't spend the money.
Step 2: Qualitative research, for example focus groups, one-on-one interview, etc., is a great way to start. It can help define the study's parameters. Use qualitative research to confirm your conclusions. Be careful, consumers are nice, they will answer your questions and basically they will be honest, but they won't tell you that you're asking the wrong questions.
Questionnaire development is the key to success in quantitative research.
Step 3: Ideally, spend time and money to have several groups do the analysis. Multiple perspectives will help fine tune the findings and may turn up new ideas. Another way to approach this is to have a smaller group of smart folks from several disciplines.
Step 4: Use research for important things, not as a surrogate for backbone. Important things warrant the investment. Using research to address minor issues or problems just bogs down the process. If it's minor and you don't know the answer then ask an expert and act on what they say.
You may take help for reference.
I hope this steps will be helpful for you.
If I have anything left, please comment. I appreciate your feedback.
:thumbsup:
Thanks,
Hellin Knighting
I have developed the following four step process, which has help ensure that money spent on market research is spent wisely.
Step 1: Use research to solve specific problems and/or support specific actions. If what you will learn can't or won't be used to affect your business, then don't do the research, don't spend the money.
Step 2: Qualitative research, for example focus groups, one-on-one interview, etc., is a great way to start. It can help define the study's parameters. Use qualitative research to confirm your conclusions. Be careful, consumers are nice, they will answer your questions and basically they will be honest, but they won't tell you that you're asking the wrong questions.
Questionnaire development is the key to success in quantitative research.
Step 3: Ideally, spend time and money to have several groups do the analysis. Multiple perspectives will help fine tune the findings and may turn up new ideas. Another way to approach this is to have a smaller group of smart folks from several disciplines.
Step 4: Use research for important things, not as a surrogate for backbone. Important things warrant the investment. Using research to address minor issues or problems just bogs down the process. If it's minor and you don't know the answer then ask an expert and act on what they say.
You may take help for reference.
I hope this steps will be helpful for you.
If I have anything left, please comment. I appreciate your feedback.
:thumbsup:
Thanks,
Hellin Knighting
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