What are the 5 steps in planning for market research?
Do you know the steps you need to take as you begin planning for a market research study and what questions your market research firm will ask you? If you're planning for market research, a checklist outlining the 5 key steps and ask the right questions will get you organized?
As a market research firm in Atlanta, we design paid research studies for brands across industries to help companies capture the data and insights they need to gain a competitive edge. It’s no secret that market research is valuable for every organization!
Here are a few reasons why research studies matter:
Reason 1: Market research informs business strategies.
Before you invest in activating your plans, market research can validate your strategy or provide the information you need to put you on the right course.
Reason 2: Market research allows you to avoid mistakes with product launches.
95% of new product launches fail. That’s a costly failure that could be avoided through making a comparatively small investment in market research.
Reason 3: Market research is objective and offers credibility.
Without data executives often make decisions based on opinions. Opinions that don’t offer credible rationale. Research is objective and offers evidence supporting your vision and decisions.
Reason 4: Market research offers value across the lifecycle of a brand or product.
Research provides insights from market sizing and customer profiling at the development stage, to customer feedback during the growth stage, to brand tracking when monitoring.
Before you identify which market research firm in Atlanta that you want to work with or the approach you'll take, download this checklist outlining the questions you'll want to ask.