Market Research: The Beginning

The biggest problem I see with folk doing their own market research is they don’t clearly define the question they want to be answered. Usually, people skip right to the survey or questionnaire and miss the point of market research, to find the answer to a specific question. Occasionally you can answer more than one question but I never advise it. Focusing on the core question is the best way to get a good result from your efforts. Defining that question takes time and effort and seeing how much it will cost you to do the research (in time or money) getting the question right is crucial. Here is an infographic to serve as a guide to defining your market research problem.

Market Research - 5 Steps in Market Research Problem Formulation (1)

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