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Market Research

Proprietary Information

Proprietary Research Can Give You Credibility -- Here's How to Do It Correctly

Follow these steps to conduct your own research in a way that lends you credibility and differentiates you in your market.

Why Messaging Is the Future of Market Research

Emailing surveys to customers was cool when email was a novelty, but those times are long past.

The Steps of Creating Your Buyer Blueprint

Developing a good idea of who your best customers really are will help you find a strong market for your business.

6 Ways to Market Your Small Business for Less Than $100

For entrepreneurs and small business owners, every dollar counts -- and investments need to pay off in real and immediate marketing ROI.

10 Questions You Must Ask Before Buying a Business

Doing your due diligence before buying a company will earn you bargaining powerand help you avoid unforeseen problems. Here's what you need to know.

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If you’re an entrepreneur starting a new business, doing market research can be vital in order to determine the feasibility of your business venture before committing substantial resources to it. Market research -- or the process of gathering, analyzing and interpreting information about a market to determine past, present and future customers for a product or service -- can occur in a variety of ways.

Doing market research means finding out information such as the industry as a whole, your competitors, where you stand in the market, product or service pricing and more.

It typically involves two types of data:

Primary research: This type of research you compile yourself or hire someone to gather for you, through conducting interviews, surveys, questionnaires and focus groups -- over the phone or through email. When conducting primary research, you can gather two basic types of information: exploratory or specific. Exploratory research is open-ended, helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are solicited from a small group of respondents. Specific research, on the other hand, is precise in scope and used to solve a problem that exploratory research has identified. Interviews are structured and formal in approach.

Secondary research: This type of research is already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry.