Skip to content DOS of market research
Define the objectives of the research
This is the first and the most important step of market research. Ensure you know what you want to find out and from who.
Understand the difference between insights and raw data
Insights are very different from raw data or information. Market research tools will only provide you with raw data and not the insight
Know and understand the importance of conducting a your research
The significance of research should not be underestimated. Market research is important in giving you the information you will need to make the right business decisions.
Beware of biasness
You should know that your target audience may sometimes want to please you and therefore it will give you the wrong information.
DON’TS
Social media channels are important because they enable one to identify the target audience based on their interests and interactions as indicated by their profiles and behaviors.
Don’t forget to give a chance for the respondent to opt out
A simple answer like “I don’t know” is better than forcing the respondent to give an answer.
You shouldn’t spend a lot of money doing market research
There are a lot of cheap DIY tools that are effective. If your appropriate method for research is conducting surveys, then sites such as Survey Monkey etc. can really help in gathering useful information. It is affordable, effective, and flexible.
Don’t target a wrong audience
If you are looking to get useful information, then ensure your target audience is right. You can target your own customer list for market research about customer service and satisfaction. For other researches such as item-specific questions, you can target forums and specific interest groups.
Related: The principle of consistency in marketing
