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Friday, 04 July 2008
Researching Your Market -
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Researching Your Market
What You Need to Know
Your Own Research
Analysing Data Fairly
Low-cost Research
The Competition
Professional Help
What Does It All Mean?

Researching Your Market

2. Your Own Research

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The research technique you use will depend on whether you need numerical information about people's attitudes or a deep understanding of their views and motivation.

2.1 Quantitative research is the type of survey in which every participant is asked an identical set of questions.

The answers provide key statistical information.

  • For example, a survey by a tennis club developer may find that 22 per cent of local adults play tennis, seven per cent are already members of a club and eight per cent would like to join a club. Using this information, the developer can decide where to build a new club and how large it should be.

2.2 Qualitative research explores people's feelings and attitudes by letting them discuss things (eg 'Why do you like playing tennis?').

The questions can be answered in a focus group - usually six to eight people - or in one-to-one interviews.

  • The tennis club developer might discover that most people join tennis clubs to make new friends and so decide to add a bar or cafe to the building plans. Insights like this can give you a significant edge over your competitors.

2.3 Find a sample of your target market, get them to try your product or service and give their opinion.

  • To find out if people would use your service, you could contact relevant businesses and arrange a morning event for people to drop in for a coffee and a demonstration. At the very least you will be making new contacts. Otherwise you could offer to drop in to see them.
  • Approach potential retailers about test marketing. They may agree to put a prototype of the product in-store.
BHP Infosolutions

 
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