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  • Basic of market research methods

    1. Surveys. With concise and straightforward questionnaires, you can analyze a sample group that represents your target market. The larger the sample, the more reliable your results will be.

    In-person surveys are one-on-one interviews typically conducted in high-traffic locations such as shopping malls. They allow you to present people with samples of products, packaging, or advertising and gather immediate feedback. In-person surveys can generate response rates of more than 90 percent, but they are costly. With the time and labor involved, the tab for an in-person survey can run as high as $100 per interview.
    Telephone surveys are less expensive than in-person surveys, but costlier than mail. However, due to consumer resistance to relentless telemarketing, convincing people to participate in phone surveys has grown increasingly difficult. Telephone surveys generally yield response rates of 50 to 60 percent.
    Mail surveys are a relatively inexpensive way to reach a broad audience. They're much cheaper than in-person and phone surveys, but they only generate response rates of 3 percent to 15 percent. Despite the low return, mail surveys remain a cost-effective choice for small businesses.
    2. Focus groups. In focus groups, a moderator uses a scripted series of questions or topics to lead a discussion among a group of people. These sessions take place at neutral locations, usually at facilities with videotaping equipment and an observation room with one-way mirrors. A focus group usually lasts one to two hours, and it takes at least three groups to get balanced results.

    3. Personal interviews. Like focus groups, personal interviews include unstructured, open-ended questions. They usually last for about an hour and are typically recorded.

    Focus groups and personal interviews provide more subjective data than surveys. The results are not statistically reliable, which means that they usually don't represent a large enough segment of the population. Nevertheless, focus groups and interviews yield valuable insights into customer attitudes and are excellent ways to uncover issues related to new products or service development.

    4. Observation. Individual responses to surveys and focus groups are sometimes at odds with people's actual behavior. When you observe consumers in action by videotaping them in stores, at work, or at home, you can observe how they buy or use a product. This gives you a more accurate picture of customers' usage habits and shopping patterns.

    5. Field trials. Placing a new product in selected stores to test customer response under real-life selling conditions can help you make product modifications, adjust prices, or improve packaging. Small business owners should try to establish rapport with local store owners and Web sites that can help them test their products
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  • #2
    Re: Basic of market research methods

    After reading your article i decide online Marketing is better way to optimize your business, if you start online business then you save your extra expensive that create many problems like shop employee and service provide now people move in to online marketing save and quick response.
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    • #3
      Re: Basic of market research methods

      Thanks for the information.It will surely clear all the confusion.

      Comment


      • #4
        Re: Basic of market research methods

        can get research jobs with a BA or BS in soc. but you must take as many methods ... especially survey research and market research method
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        • #5
          Re: Basic of market research methods

          I do think that also simply looking at what the people hanging around in niche specific Forums or on niche specific Blogs are
          'talking' about can be a great way to get an idea about what your target market is thinking about. Like for example in a Small Business Forum people like to know more about basic market research methods.
          Also in blogs you can also discover a lot of interesting info by looking at the comments on blogposts,
          you might even 'Join the Conversation' and ask your own questions.
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          • #6
            Re: Basic of market research methods

            I learned about market research back in high school for the subject economy. We did one for our FS (feasibility study) of any business we chose. And, here are the techniques that I remember doing. Survey and interview was my favorite. well, interview was easy but for survey, you'd had to analyze their data and their socio demographic profile. kinda missed it actually.
            1. Surveys
            2. Focus Groups
            3. Personal Interviews
            4. Observation
            5. Field Trials
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            • #7
              Re: Basic of market research methods

              wow, methods are listed, we should take action
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              • #8
                Re: Basic of market research methods

                it is nice informative share information good to know that
                thanks

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                • #9
                  Re: Basic of market research methods

                  Hello Friends,

                  Scientific research: Need, purpose and principles of scientific method; Steps in scientific research; Types of social science research
                  Marketing research problem, the process and problem definition: marketing research role; marketing research steps; problem formulation
                  Research methods: Field methods: Reconnaissance, Rapid Appraisal, organized market studies
                  Determination of sources of information and research design: Preparation of marketing research design, exploratory, descriptive and experimental designs, market survey, content analysis.

                  Thanks

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                  • #10
                    Re: Basic of market research methods

                    Marketing is referred to as the marketing of products or services over the Internet. e-Marketing is used as an abbreviated form for Internet Marketing and it also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing, search engine optimization, banner ads on specific websites, email marketing, mobile advertising, and Web 2.0 strategies
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