MODULE 8 Why On-Going Market Research Is So Important And How To Obtain Optimal Results

Contents

  • Introduction
  • How to maximize value for your customers
  • Primary and secondary market research
  • The value of doing market research
  • Understanding demographic research
  • Understanding psychographic research
  • Examination of customer profiles and niche markets
  • How to estimate the size of your target market
  • Why it is important to know what your competitors are doing and how you can find out
  • How to collect data
  • Guidelines for creating your own questionnaire
  • The different question types you can use in your survey and how they evoke different answers
  • How you can avoid getting dishonest/inaccurate answers
  • Analysing and working with the results of your survey
  • Creating your own questionnaire

  • How much will it cost you in lost business if you do not know the profiles of your customers?

  • How much business will you loose to your competitors if you do not know where you stand in relation to what they offer?

  • How much money will you waste by choosing the wrong communication platforms which do not optimize your reach to your target market?

  • How can you forecast earnings potential if you do not know the size and location of your target market?

  • What amount of time and resources will you waste if you do not handle your market research and surveys correctly – and ask the right questions!

  • Do you really know what your customers want from you and how will you know they are happy with all levels of what you supply them (product, price, customer service, delivery etc.) if you do not ask?

  • How can you increase your product offering and encourage a customer to buy from you more than once?

  • Customer and competitor research are often areas which a business just touches the surface of – there is a well of information and earnings potential laying below the surface for you to tap into.

  • By the end of this module you will have a very clear picture of who potential customers might be. This will enable you to spend money wisely in your marketing and advertising objectives by choosing the platforms your audience engages with and by creating content that speaks their language and addresses their needs.

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