What Types of Market Research are there?
SURVEYS: A set of questions designed to find out information about the Target Market's interest. This helps the business owner make wise decisions about which products to sell and how to market. Surveys can be on paper, digitally sent (email), or even asked in person or over the phone.
FOCUS GROUPS: A group of people are brought together to answer questions or to have a discussion, which can provide direction for the business idea. Answers are usually more personal than a survey. Usually videotaped or recorded in some way
PERSONAL INTERVIEWS: Unstructured, open-ended questions (not “yes or no” questions) are asked in person. This is especially helpful in determining why a particular product is not doing well.
OBSERVATION: How do people really act? What do they really want? Watching people's behavior tells you a lot! Individual responses to surveys and focus groups are sometimes different than people’s actual behavior. When you observe consumers in action, you can observe how they buy or use a product. This gives you a more accurate picture of customers’ usage habits and shopping patterns. (for example, on surveys, parents say they want to buy healthy cereals. But, in fact, data shows that more parents still buy the sugary cereals).
FIELD TRIALS: SAMPLES! Businesses can offer samples of their product to evaluate response. Placing a new product in selected stores to test customer response under real-life selling conditions can help you make product changes, adjust prices, or improve packaging. (HOW COULD YOU DO THIS AT WCS?)
