Market Research 201

There is a variety of research methods available to use.

a. Online research-you can use the following website to learn the demand for a product, or idea. www.freekeywords.wordtracker.com.  Type in the product and search. It will show you how many Goggle searches are done every day. Any number 80 or above is good demand.
b. Reviews-these are the process of a customer writing an evaluation of the buying experience. It is used most often in online purchases at websites like www.amazon.com and ebay.com The process of posting reviews not only reviles the customer’s attitude, but it is also a powerful marketing tool. Other customer sees the review and buy if it is positive.
c. Live person interviews-are effective but very expensive. This is not a good option for a small business.
d. Telephone interviews-more affordable than live interviews and can be effective. But people don’t like being called and that can affect the survey out come.
e. Focus groups-are small group’s representative of typical customers that give you product evaluation. What customers think about price, size, color etc.
f. Mail surveys-are also expensive and have a very low response rate.
g. Exit surveys-are done as people leave a voting booth. Information about whom the person voted for and other questions are asked.

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