Market Research: The Five Steps to the Heart of Customers Be aware of the competition Set business goals on the spot
Highlights
Market research is the collection of information about a customer or target audience. To analyze and learn What are the keys to successful business doing?
Market research is divided into 2 types: primary research and secondary research.
There are 5 steps of this research. It can be used for analyzing the organization or the product.
Marketing is an important step. Whether you are just starting a business or have been doing business for a while until making a website for selling on the Internet conscientiously, it must have this. Because marketing is about getting yourself to meet new customers Or pull existing customers to stay with them But how do you market it? The first thing to do is Know the market and its needs Also known as market research, this WOW article will talk about market research or market research, primary and secondary research. How are they different? And a 5-step market research method applicable to all types of businesses.
What is market research?
Market research is a calculation for gathering information about customers or prospects. To analyze and understand that What are the keys to successful business doing? Among many competitors in the same industry Information about customers, including where and how they bought their products and services. Factors affecting customers’ choice and purchasing decisions What are some reasons why customers buy and not buy individual products and services?
Market research also helps entrepreneurs learn their business dynamics, such as business trends, market size, who our competitors are, etc. These data help us summarize the market in which our business is located. And know how much the value of our business has to the market And at which point will be added to be better
Market research, market research, research methods, market research, market research is
Primary research, what is secondary research and how is it different?
Market research is divided into two categories: primary research and secondary research.
1. Primary research
The preliminary research is the study of people who are direct business customers. The research methods used are: Group interviews or inviting a number of people to share their opinions on a particular product or service (Focus group), a single interview with open-ended conversation, and a questionnaire with specific questions. specific This type of research is very good for building a group of people who buy products / services of the company (Persona) or target customers.
2. Secondary research
Secondary or second stage research is collecting survey data. Questionnaire and other marketing That was not done by ourselves to analyze Information that may include statistics such as trend reports or articles related to business, market statistics, etc., can be found online such as the Federation of Thai Industries, the Thai Chamber of Commerce, the Foreign Business Analysis Bureau. Or a large marketing agency I often do a marketing analysis report of various business industries. Continuously Most of them annually Including information about our business feedback such as website visits Corporate social media Will work as well
Read: 7 trending products-services for 2020 that can be sold online With good marketing methods
5 steps to market research, applicable to all business groups
Starting a business with a solid foundation Or grow your business to the next level Market research can help you in 5 steps you need to know and do.
Identify the group of buyers of the business products / services And target audience
Interact with the target audience
Find the best way to meet the needs of the target audience.
Find out about the main competitors of the business and analyze them.
Summarize the information and results obtained from doing 1 – 4.
1.Identify the buyers of goods / services of the business And target audience
The first question any business owner should ask himself is: “Who are our customers?” Must be able to answer. When we can answer, we can further assess that How does he look and behave? For those who are just starting out in new businesses Let’s start with Persona creation or what kind of fictional character creation the majority of our customers are.
Interesting information about customers or prospects that the researcher should know, such as age, where to live / where they live. What is your job or hobby? What are the normal living behaviors and our business-related? Etc, here is an example of customer persona of a fictitious company named Tour ABC.
Market research, market research, research methods, market research, market research is
Market researchers can create more than one Persona, as long as each Persona distributes useful information to analyze the behavior of the target audience and lead to the creation of a marketing plan to attract customers to buy a company’s products or services.
2. Interact with the target audience.
When you know who your target audience or business customers are. It’s time for researchers to randomly ask and talk to get them to think about our products and the industry. Either it is randomly interviewing people with a designated Persona or contacting clients with whom we have a database. Or even someone who is almost a customer (Add items to basket But didn’t complete the purchase)
How to conduct research with the target audience The researcher must have clear goals. The goal was then dissected into questions and discussion topics such as research, overseas tours for solo travelers. When the target group is informed of the entire travel plan, they may ask, “From this trip plan How much do you feel that you will be willing to pay for this tour? Or why not buy it? ”,“ What kind of economic conditions will make you decide to buy this tourism? ”
After doing research, should
