Posts
Market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is completed, it can be used to determine how to market your product or service.
Questionnaires and focus group discussion surveys are some of the instruments for market research.
For starting up a business, there are some important things:
* Market information
Through Market information you can know the prices of the different commodities in the market, the supply and the demand situation. Information about the markets can be obtained from different sources and varieties and formats. And the sources and varieties have to be obtained to make the business work
* Market segmentation
Market segmentation is the division of the market or population into subgroups with similar motivations. it is widely used for segmenting on geographic differences, personality differences, demographic differences, techno graphic differences, use of product differences, and psycho graphic differences and also gender differences.
* Market trends
The upward or downward movements of a market, during a period of time. The market size is more difficult to estimate if you are starting with something completely new. In this case, you will have to derive the figures from the number of potential customers or customer segments.
Besides information about the target market, you also need information about your competitor, your customers, products etc. Lastly, you need to measure marketing effectiveness.
Jarvis Russell
Marketing Consultant
1800-522-6096
![Reblog this post [with Zemanta]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_t7V6PPivJd52wfNpol-NQcUbgQtm9RoJ-EDv352ctiz72yabBa6WjRlex3d14zXvvMyihLysTKYn4Ll-4fFjLFuzSAuq1slDc4GFwjdyiAVzLnSxFaCYyzt0LMOcwdBORWWJyrS2lZXTcsGefzMFU=s0-d)
* Bradley, Nigel Marketing Research. Tools and Techniques.Oxford University Press, Oxford, 2007 ISBN 0-19-928196-3 ISBN 978-0-19-928196-1
ReplyDelete* Marder, Eric The Laws of Choice—Predicting Customer Behavior (The Free Press division of Simon and Schuster, 1997. ISBN 0-684-83545-2
* Visha Consultants (nd)Market Research, Marketing Research. Tools and Techniques.
* Young, Charles E, The Advertising Handbook, Ideas in Flight, Seattle, WA, April 2005. ISBN 0-9765574-0-1
* Kotler, Philip and Armstrong, Gary Principles of Marketing Pearson, Prentice Hall, New Jersey, 2007 ISBN 978-0-13-239002-6, ISBN 0-13-239002-7
[edit] External links