Friday 2 May 2008

Market Research


Before you start forth on your latest commercial venture, you need to be armed with the best available market research. Whether this be as a result of your own observations, or research carried out by a third party, this information is vital to forming your strategy. Why do businesses fail? often through lack of research, why do projects get shelved? same reason....
How should this research be carried out? Firstly identify your demographic, then get a good sample and find out their views. Good research is dependent on asking the right people the right questions. Ever wondered why market researchers only stop certain people on the street? it's because they have a demographic quota to fill, if you don't fit the profile, you are not a target.

From experience, I can tell you that it is easy to write a questionnaire, and very difficult to write a good one from which you will be able to draw any conclusions.... Good research knows who it will ask and precisely how to get the answers it wants - Bad research asks random people random questions and reveals random results. Next time you are set to browse the web to find ways to get traffic for a site or blog, actively target specific keywords and themes and place comments that provoke a response - turn your browsing into research.

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