Conduct Market Research

In what situations are necessary market research. Market research helps to identify possible areas of business development. They need to spend making decisions: how to penetrate new markets, introducing new product of the rebranding, the determination of prices of products (services) of your company, the channels and methods of product promotion, marketing on the formation of policies and practices encourage customers. Most often, when the head faced with one of the above situations in his head already have solutions based on its experience and understanding of the market. It is important to remember that market research is costly and time, so if the price error is small or the decision to be taken urgently – Rely on your intuition and act. If the wrong decision will cost you dearly and if you have the time – marketing research will help make the right choice and avoid financial loss (or to ensure the growth of income). An example of the practice. Professional edition commissioned a study of readership.

In announcing the tender, the publication has received the following suggestions from research companies. Proposal 1 10 telephone interview with the readers of the publication (of 20 min. Each). 10 telephone interviews with readers, to unsubscribe (20 min.). 10 personal interviews with potential subscribers (at least 30 minutes. each). The duration of the study – about 15-20 days.

Cost – $ 7,000. Proposal 2300 short telephone interview (no more than 10 minutes. Each). 16 in-depth interviews (1-1,5 hours). Duration Research – 9 weeks.

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