Clarocision Research and Marketing helps businesses both large and small to gather primary marketing research data to help in key decision making processes.
RE-POSTED ARTICLE :Source: http://www.allbusiness.com/marketing/market-research/2587-1.html#ixzz1voKUJUuw
When you are starting your business — and when your business is growing and expanding into new markets, products, or services — understanding the basics of market research is key to success.
Market research helps you understand three things: your industry, your competition, and your target market.
There are two kinds of market research: Primary research is research in which you go directly to the source to gather data or ask questions.
Primary research methods can include:
Clarocision Research & Marketing specialize in bilingual recruiting: English and Spanish. Our recruiting field includes the tri-county area of Palm Beach, Broward (Fort Lauderdale) & Miami Dade in South Florida.Clarocision Research & Marketing has accumulated an impressive database of respondents of various demographics who participate, as appropriate, in our projects:
- Holding in-person focus groups with members of your target market
- Interviewing members of your target market in person or by phone
- Visiting your competitors’ stores or locations
- Conducting surveys of your target market either online, in writing, or through social media tools such as Facebook or Twitter
- Observing your target market (such as at a mall or community event) and noting how they behave Secondary research is data that’s been gathered and published by other researchers or sources
You can get secondary research by:
Reading articles in trade journals
- Diverse ethnic background
- Diverse language; English , Spanish and Creole
- Wide cross section of professions including medical doctors
- Online/in-person /phone panels
- Varying demographics of all ages; from kids to seniors
- Industry publications
- Doing Internet searches
- Visiting a reference library
- Contacting industry associations or trade organizations
- Visiting public agency or government websites, or reading their reports
- Whether you are doing primary or secondary research, here are some of the key questions to ask: Industry:
- What stage is this industry in (inception, mature, or declining)?
- Is the industry outlook favorable, or is it shrinking?
- What challenges is this industry facing?
- What trends are creating opportunity for this industry?
- What is the average profit margin in this industry?
- Competitors: Who are your key competitors? How big are they?
- Are they small businesses or global corporations?
- Where are they located? W
- hat is their business model?
- How do they make their money, and what sales channels do they use?
- How much do they charge, and how profitable are they?
- Target market:
- What are their demographics (age, sex, race, marital status)?
- What is their income?
- How much do they spend on products or services like yours?
- What purchasing channels do they use (retail stores, online, consultative sales)?
The answers to these questions will help you determine the feasibility of your business model, plan your marketing strategy, and pinpoint your target customers.
Clarocision Research is located in South Florida close to both Fort Lauderdale & Miami. Call 954-741-2234 for details