To do just that, you need to have a deep understanding of who your buyers are, your specific market, and what influences the purchasing decisions and behavior of members of your target audience.
If you’re new to market research, this guide will provide you with a blueprint for conducting a comprehensive study of your market, target audience, competition, and more.
What is market research?
Market research is the process of gathering information country wise email marketing list about your company’s buyers, target audiences, and customers to determine how viable and successful your product or service would be, or is, among these people.
Why do market research?
Market research allows you to meet your buyer wherever they are. As our world (both digital and analog) becomes noisier and demands more and more how to manage technological disruption of our attention, this proves invaluable. By understanding your buyer’s problems, pain points, and desired solutions, you can properly design your product or service to appeal to them naturally.
Market research also provides insight into a wide variety of things that impact the bottom line, including:
Where your target audience and current customers conduct their product or service research
As you begin to hone your market research, you’ll likely hear about primary and secondary market research. The easiest way to think about primary and secondary research is to imagine umbrellas under market research: one for primary market research and one for secondary market research.
Under these two umbrellas lie several different types of market research, which we will highlight below. Defining which of the two umbrellas falls under your market research is not necessarily crucial, although some marketers prefer to make the distinction.
So, in case you find yourself a marketer who wants america email list to define your market research types as primary or secondary, or if it is one of them, let’s cover the definitions of the two categories below. Then, we’ll look at the different types of market research in the next section.
Primary vs. secondary research
There are two main types of market research your company can conduct to gather actionable insights about your products, including primary research and secondary research.
