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Conducting Market research Some tips & tricks

Conducting Market research Some tips & tricks . What is market research?. What is Market Research?. Organized way to collect information Can focus on customer, product, competition or a combination of these Usually an important input to decision making. Why do market research?.

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Conducting Market research Some tips & tricks

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  1. Conducting Market researchSome tips & tricks

  2. What is market research?

  3. What is Market Research? • Organized way to collect information • Can focus on customer, product, competition or a combination of these • Usually an important input to decision making

  4. Why do market research?

  5. Why do Market Research Find answers for • Size of a market • Market perceptions • Competitive activities • Right time to enter

  6. Kinds of market research

  7. Kinds of Market Research • Quantitative • Size Estimation • Large scope studies • Qualitative • Validation • Expert opinions • Primary • Direct inputs from market • Secondary • Inputs from published sources • B2B • Where customer is a business • B2C • Consumer research

  8. Steps in conducting research

  9. Steps in conducting market research • Define your objective and intended outcomes • Decide the survey approach • Sample size • Sampling strategy • Questionnaire design • Questionnaire administration mode • Data collection • Analysis & recommendations

  10. Tips in conducting market research • Focus equally on data collection and analysis • The quality and veracity of data determines quality of research • Asking the right questions • Asking questions the right way • Picking right analysis frameworks • Interpreting results

  11. Some case studies

  12. Let us find some answers • Will parents find subscribing to a co-curricular online math supplement program for school children useful? • Is there a market willing to pay a premium for home delivered organic fruits and vegetables? • How satisfied and loyal are our customers? • Can we grow our business to a $100 M with a focus on the US Hi tech market in 3 years? • How does the performance of my business compare with competition

  13. If you have any questions, email me: sudha.kumar@prayag.com

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