Article Sphere Logo
 
Main Article Categories

 Alternative Medicine
 Arts And Entertainment
 Automotives
 Beauty
 Business
 Communications
 Computer And Technology
 Disease And Illness
 Finance
 Food And Beverage
 Health And Fitness
 Home And Family
 Home Based Business
 Insurance
 Internet And E-Business
 Legal
 News And Society
 Pets And Animals
 Product Reviews
 Real Estate
 Recreation And Sports
 Reference And Education
 Self Improvement
 Shopping
 Travel And Leisure
 Women Health And Fitness
 Women Interests And Issues
 Work At Home
 Writing And Speaking
 All 511 Categories
 
"Research" Article
 Article Directory Home Business Research

Marketing Research

By Expert Author: Matt Bacak Platinum Expert Author
View Summary | Submitted: 2006-04-18 | Word Count: 395 words
Matt Bacak
Market research is the collection and analysis of information regarding consumers (potential customers), competitors (same business type), and the effectiveness of marketing programs (i.e. direct mail marketing, newsletters, signage, etcetera). It's an act of action before leaping into a business, and an educated move that determines the feasibility of a new business.

Through market research small businesses and corporations alike:
- Test interest in new services and products
- Improve customer service
- Develop competitive strategies

Both startup businesses and established businesses need to define, evaluate, and plan a course to pursue their market. The end result of market research is a business that is more responsive to customers` needs and increase profits.

As your business develops, market research needs to be an ongoing part of your business. Anyone who is familiar with writing a business plan knows how unpredictable the market can be. Another reason why market research needs to be integrated. Three Essential Areas Market research is time consuming. Don't let anyone fool you! And if you own a small business you'll find time an issue. But don't give up. Even the simple things you do like talking to a customer about what he or she wants, or chatting with a supplier is conducting market research.

Gather information from these three essential areas.

Consumer
- Information from and about your customers
- Feedback on the likes and dislikes of your customers
- What services or products did the consumers like best

Competition
- Help you determine what works and what hasn't worked
- Give you ideas for improving
- Provide insight into how to increase your market

Environment
- Economic
- Social
- Political forces

All of this information shapes the way we do business. Keeping it close on hand allows you to stay abreast of and respond to particular trends or events that influence your small business.

Secondary Research Sources Secondary research sources are easily obtainable. This is information that's been collected by someone else just lying around for you to benefit from.

- Journals
- Newspapers
- Surveys
- Telephone books
- Government publications

This form of secondary research information is accessible at the library or by researching the Internet. It's the primary source you're really after. Obtaining firsthand information from your customer or competition is current; thereby, making it the most valuable means of market research.

Copyright 2006 The Powerful Promoter
About the Author/Author Bio

Matt Bacak, The Powerful Promoter and Entrepreneur Magazine e-Biz radio show host, became a "#1 Best Selling Author" in just a few short hours. He has helped a number of clients target his specialty, opt-in email direct marketing systems. The Powerful Promoter is not only a sought-after internet marketer but has also marketed for some of the world's top experts whose reputations would shrivel if their followers ever found out someone else coached them on their online marketing strategies. For more information, visit Bacak's site at http://www.powerfulpromoter.com or sign up for his Powerful Promoting Tips at http://www.promotingtips.com

Article Source: http://www.articlesphere.com/Article/Marketing-Research/21615

Comments on this Article


More "Research" Related Articles

 

Listed below are more articles related to the above article from the "Research" article category.

People interested in the above article "Marketing Research" are also interested in the related articles listed below:

In another articles I wrote I mentioned two different good methods of research for your marketing. In that article I chose to focus entirely on researching the marketplace through what other businesses have done and are doing. Now I’m going to focus on the second method, which is researching directly through your customers.
Any worthwhile company is going to know that they need to do a lot of research if they want to stay around for long. When it comes to the products you make, improving the products that you currently have, the commercial printing you focus on with your advertising, and the areas that you concentrate your marketing, you need to know what people think.
Do you truly know your target market? Do you really know what types of people have the potential to buy your product or want your service? Do you know how to best plan your next poster printing project so that the resulting ad appeals to your potential customers? You might think that you do, but unless you have spent time researching this, you likely do not know all that you could, and should, about the people you are trying to reach with your business advertising efforts.
Conducting market research can afford you invaluable insight into your products or services. The following are some tips to get the most out of your research.
Market studies are performed to evaluate real estate market conditions with regard to an existing or proposed property. The focus of a market study details competition within the submarket, the strength or weakness of the submarket. Also, market study indications that the submarket will continue to improve or weaken and how the existing or proposed subject property is likely to perform within the submarket.
Are you an entrepreneur, small business owner or solo professional who wants to know what your customers and prospects are thinking? It's really simple to find out: just ask them! The answers you are seeking can easily be found by conducting a simple survey and this article will show you how to make your survey successful.
When you create a survey, focus on creating one that is as unbiased as possible, recognizing that the fairer the survey, the better the data, and the better the data, the better the decisions you'll make.
Article Directory Home Business Research

Can't find what you're looking for? Try Google Search!
(Search in 26 languages: English, Spanish, French, Japanese, Arabic, Italian, German,
Chinese Simplified, Chinese Traditional, Dutch, Korean, Portuguese, Russian, Greek, Serbian
Slovak, Hebrew, Swedish, Romanian, Polish, Norwegian, Finnish, Danish, Czech, Croatian, Bulgarian)
 
 
Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.
Template Design by Internet Marketing Singapore | Internet Marketing | Singapore Classified
Español Français Bulgarian 汉语 漢語 Croatian Czech Danish Dutch Finnish Deutsch Ελληνικά Italiano 日本語 한국어 Norwegian Polish PortRomanian Русско Serbian Slovak Swedish [أربيك] Hebrew