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IMPORTANCE of 🤓MARKET📊 INVESTIGATION / 8 STEPS

 


What Are The Marketing Research

Earlier we talked about what is market research and what are the types of research. It is worth mentioning that today it is very important that we carry out such investigations, especially if we want to start a business. That is why today we are going to discuss why market research is so important in companies and what are the points that must be taken into account to carry out a good effective research.
Market research is considered important because it helps us make the right decisions and above all, as we mentioned earlier, if we want to start a business, since it provides us with the purchasing intentions that consumers are currently presenting, or rather growth. of the market to which we intend to belong.





Based on this, we can develop successful marketing strategies that help us reduce all those risks that may arise and with this information we can determine the products, prices and promotions from the beginning. In the same way, in market research we can discover valuable information that can be used to estimate the prices of our products, or whether they are services and thus benefits us as a company and our clients as consumers.


On the other hand, market research helps us assess trends so that we can anticipate how the market might change. However, it is important to bear in mind that to carry out these investigations it is necessary to use statistical methods and especially analytical ones. This is necessary because in this way we obtain the information we need. That is why these investigations are considered important because they help us to identify new market segments that we were unaware of and in this way we have the opportunity to develop new products and choose our new target market.


 Once these investigations have been carried out, we obtain the necessary bases to be able to act in favor of the client and in this way we can have the greatest possible success in the company and thus we can define the advertising and marketing campaigns. Prepare the launch of new products, etc. It is worth mentioning that it also helps us plan our strategies, even if we already have an established company. Because we need to keep in touch with all those needs that our clients may present. New trends in the market and competitors. This is very important because market research itself is responsible for measuring the effectiveness of our marketing.



Giving us information from attitudes, packaging, advertising and even brand awareness. But you wonder how he planned an effective market research? Effective market research begins with knowing what you want to achieve and, above all, what information you need. Let's take an example if you are considering buying or rather renting a place, it is important that you analyze the levels of circulation that occur at different times, either in the morning, afternoon and at night. This is very important, since our success depends on that. The following points need to be taken into account, as they are important for our market research to be effective.



 Point 1. Planning the investigation It is very important that we plan an objective for our investigation. Therefore, it must be designed so that we obtain excellent results and we can make decisions that lead the company to be more competitive and above all profitable.
Before starting, it is very important to define what we really want to know through such research. That is why it is recommended to have several objectives in mind and ask several questions in an intelligent way that leads us to the answer we require.


 Point 2. Defining the problem are problems in terms of adjustments that the company must make to a product that already exists on the market.
Problems can be classified into two parts, which are descriptive and casual. The descriptive ones seek a characterization of the situation and the center of the problem is to establish a link between a group of characteristics. The casual ones are the most important because it means the search for the most complete explanation that can be expected.



.3. Define the objectives of the investigation. All the objectives of the investigation must be raised from the moment a problem arises, since it must answer the question why such investigation should be carried out? These objectives can be general and specific. Those of a general type focus on a broad study and indicate the purposes in a global way, presenting a final summary of what is intended to be achieved in said research. Meanwhile, the specific objectives are all those that are intended to be achieved. They expose in a clear and precise way the scope and results that they wish to obtain in the different stages or phases.


Point 4. Development. The research plan. It is very likely that the most important things that a research plan can reveal are the ways in which the specialist intends to achieve the objectives with the respective budgets that have been established. As well as the time and personnel to reach them. That is why data can be collected through observations, group meetings, interviews, experimental research, questionnaires and, above all, surveys.


 .5. Analyze the information Once the marketing problem has been clearly defined, it must be subjected to a respective information analysis, that is, a company and market evaluation that is based on information from abroad and from the inside of it. Together the results were presented. This is one of the most important steps in the entire research process, since it must be done by presenting graphical diagrams, tables, charts or simply images.


Step 7 Schedules of controls and executions. It is important to make commitments about the entire execution time that the study will have. Therefore, it is important to detail each phase of the work. This is done through the design that the research execution program will have in stages.

 and in the last point 8 is the importance of the conclusions. All market research that is carried out must present conclusions that are very well written from the figures, data and facts throughout the process. In this way, managers will be able to have arguments to make correct decisions and thus be able to give a respective solution to the problem raised.
What do you think about these 8 points that I mentioned to you? Let me know in the comments. If the information was useful to you, I would like you to share it on your social networks so that it can reach more people who might be interested in the subject.

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