The Questions Market Research Will Allow You to Answer
What will conducting effective market research teach you?
Know your customers – Market research will help you better understand your customers in a number of ways including demographic information such as their age, gender and geographic spread. The better you know your customer the easier it is to fine tune your product or service towards the target market.
Know your target market - Who exactly are your existing customers and where do they live? Does your service or product appeal to specific age groups? Who are your potential customers and where do they live?
Know your competition – Market Research will help you measure your service compared to others. What are the strengths and weaknesses of your business and are you improving in the areas that customers demand?
Products and services - Do you have the products or services that people want? Is what you offer value for money? How do your company’s products and services compare to those of your competitors? Can you, do you, should you deliver directly to your customer?
Ease of doing business – Do your customers find it easy to deal with you and when they visit your store and/or website do they find what they want? Is there sufficient advice and assistance on hand? Do people find it easy to buy from you? Are all your staff properly trained, knowledgeable, helpful and available?
Marketing – Is your marketing reaching the right people and is the marketing message clear and effective. What are the marketing channels that are available to you, which ones should you concentrate on and which, if any, should you consider dropping?
Do people correctly understand your marketing message? Does the marketing material properly represent your brand? Do you use the right promotion channels? Are you reaching the right people?
With the power of the Internet it is now very easy to conduct market research using one of the many online survey software sites that make conducting surveys and collating good market research intelligence quick, easy and extremely cost effective.
Tags: client, customer, feedback, market research, marketing, Online surveys, research data
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