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What market research options are available to you?
Your first choice is between primary research, which you conduct yourself, and secondary research, which you purchase. For secondary research, consider industry reports from sources like Mintel, industry bodies, or companies in your sector. Alternatively, you could hire a market research company, though this can be pricey. Primary research offers many more options, flexibility, control, price points, and the added benefit of using the results in your marketing so we’ll focus on primary research examples this week!
So here are a few:
- Focus Groups which are more complex and time-consuming but yield richer, qualitative data, excellent for when you need opinions or are entering a new market or producing a new product or service.
- Surveys are more restrictive but offer many options like multiple-choice or open questions, and you can automate them to send to customers seamlessly.
- Interviews lie somewhere in the middle, take longer than surveys but offer richer detail, which is ideal for case studies or testimonials.
- Observations: If you doubt the customer knows what they want or what they do, simply observe them overtly or covertly!
This isn’t an exhaustive list, but it should help you consider your options. For more info, get in touch by replying to this email.
Next week, we will address how to maximise your market research efforts!
Resources
Are you feeling a little unloved? – asking for testimonials and case studies
How to identify your competitors
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