Discover here the step-by-step guide to carrying out market research
Posted: Sun Jan 19, 2025 10:45 am
What should be improved in the company? How can marketing and sales investments be improved? Which products can be most successful with customers? Many questions go through the entrepreneur's mind, right? The answers to all of them can be obtained by conducting market research .
This type of practice helps the manager by providing relevant information about the customer, which is essential for the business to achieve better results.
To help you better understand the subject, we decided to provide a step-by-step guide on how to develop market research. Check it out!
Understand the target audience of the research
After all, who is the target audience of the survey? This may seem band database a simple question, however, it is much more complex than it seems. We are talking about the company's ideal customer, that is, the one who really needs the services or products offered by your business.
To discover your target audience, some questions can be asked.
What is the age range of my audience?
What is his gender?
What are your habits?
What is the group's average monthly income?
Choose the data collection method
There are many ways to acquire data for your market research, but they fall into two main groups: primary data and secondary data. Let's take a look at them.
Primary data: data collected by the company itself. It can be obtained through Customer Relationship Management (CRM) , interviews, surveys, and even Net Promoter Score (NPS) research .
Secondary data: secondary data are those that have been obtained by third parties. However, they are available to the general public. We can mention the research of the Brazilian Institute of Geography and Statistics (IBGE) and the Institute of Applied Economic Research (IPEA) as examples.
Define the research method
Defining the research method is also an important step in improving the quality of the research. Again, the methods are grouped into two main types, which need to be chosen according to your needs.
Quantitative research: in this type of research, we are looking to identify objective and tangible information about the clientele. The number of products consumed per month by the customer and the proportion of men and women who consume the product are just a few examples.
Qualitative research: Qualitative research, in turn, provides a more subjective analysis, since the interviewee has the opportunity to freely express their ideas and opinions. In other words, it is not measured in numbers and each position needs to be considered.
Set the size of the survey
The size of the market research is nothing more than the sample you intend to consider. Its size can vary according to the elements we mentioned. Qualitative research, for example, requires far fewer people than quantitative research.
This type of practice helps the manager by providing relevant information about the customer, which is essential for the business to achieve better results.
To help you better understand the subject, we decided to provide a step-by-step guide on how to develop market research. Check it out!
Understand the target audience of the research
After all, who is the target audience of the survey? This may seem band database a simple question, however, it is much more complex than it seems. We are talking about the company's ideal customer, that is, the one who really needs the services or products offered by your business.
To discover your target audience, some questions can be asked.
What is the age range of my audience?
What is his gender?
What are your habits?
What is the group's average monthly income?
Choose the data collection method
There are many ways to acquire data for your market research, but they fall into two main groups: primary data and secondary data. Let's take a look at them.
Primary data: data collected by the company itself. It can be obtained through Customer Relationship Management (CRM) , interviews, surveys, and even Net Promoter Score (NPS) research .
Secondary data: secondary data are those that have been obtained by third parties. However, they are available to the general public. We can mention the research of the Brazilian Institute of Geography and Statistics (IBGE) and the Institute of Applied Economic Research (IPEA) as examples.
Define the research method
Defining the research method is also an important step in improving the quality of the research. Again, the methods are grouped into two main types, which need to be chosen according to your needs.
Quantitative research: in this type of research, we are looking to identify objective and tangible information about the clientele. The number of products consumed per month by the customer and the proportion of men and women who consume the product are just a few examples.
Qualitative research: Qualitative research, in turn, provides a more subjective analysis, since the interviewee has the opportunity to freely express their ideas and opinions. In other words, it is not measured in numbers and each position needs to be considered.
Set the size of the survey
The size of the market research is nothing more than the sample you intend to consider. Its size can vary according to the elements we mentioned. Qualitative research, for example, requires far fewer people than quantitative research.