Market Research

News and Articles About Market Research

How to Avoid Getting Fooled By Trends
Innovation

How to Avoid Getting Fooled By Trends

These three common misinterpretations can lead to false hopes and product failures in the healthy and wellness industry and beyond.
Roger Cusa
How I Came Up With a Million-Dollar Ecommerce Idea in 20 Minutes
Business Ideas

How I Came Up With a Million-Dollar Ecommerce Idea in 20 Minutes

If people are lining up for a product, figure out how to make the line shorter and they'll buy from you.
Brian Roberts
How to Know What People Are Asking
Content Marketing

How to Know What People Are Asking

Author Jill Schiefelbein chats with Andy Crestodina, co-founder or Orbit Media and author of 'Content Chemistry,' about tips to create relevant content.
Jill Schiefelbein
How to Get a New Product to Market Without Hiring Market Researchers
Market Research

How to Get a New Product to Market Without Hiring Market Researchers

Thoroughly exploring the market you think exists for your product is crucial, even if you can't afford it.
Lesya Liu
To Increase Your Chance of Success, Get Into an Industry You Know
Make More Happen

To Increase Your Chance of Success, Get Into an Industry You Know

The more experience you have in your industry, the more you know about the products, services, competitors, suppliers, channels of distribution, customers, and opportunities.
Michael Glauser
How to Validate Your Business Ideas Without Spending a Dime
Business Ideas

How to Validate Your Business Ideas Without Spending a Dime

Here are two extremely cheap (read: free) ways to test ideas.
Natasha Che
The Number 1 Mistake Most Founders Make
Customer Feedback

The Number 1 Mistake Most Founders Make

You better be right if you are so confident your idea is perfect that you don't ask intended customers what they think.
Mike Jones
How to Ask Survey Questions for Maximum Marketing Benefit
Marketing Strategies

How to Ask Survey Questions for Maximum Marketing Benefit

A well-crafted survey of your customers is the best method businesses have for learning what they are doing well and what they can improve.
Eric Siu
The 3 Tasks You Need Your Product Management Team to Do
Product Development

The 3 Tasks You Need Your Product Management Team to Do

Develop something that's unique. Just don't expect it to be perfect.
Agatha Kurjanowicz
4 Tactics to Help Your Company Avoid the Top Startup Killer
Business Failure

4 Tactics to Help Your Company Avoid the Top Startup Killer

Startups fail for a lot of reasons: a lack of money (duh), poor marketing, a pivot gone awry, legal challenges. But another, different reason tops the list year after year.
Zach Ferres
3 Tips For Researching Your Rivals
How to Run a Small Business

3 Tips For Researching Your Rivals

Know your enemy and know yourself.
Christopher Hann
4 Phases of Market Research to Ensure Success
Make More Happen

4 Phases of Market Research to Ensure Success

It's not enough to make a great product. People have to want it.
Ray Beharry
5 Unique Ways to Build Your Brand Like the Big Companies Do
Make More Happen

5 Unique Ways to Build Your Brand Like the Big Companies Do

Learn how you can grow your business using your five senses.
Wendy Keller

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.