Market Research to Support Advertising (& Business) Decision Making
To put it simply, marketing research is the information businesses use to identify marketing opportunities. All successful businesses utilize the practice of marketing research – how else would they know if there is a demand for their product and if the consumer will buy it? The size of their target market? How they stand up to competitors?
What’s the best way to reach your target audience for marketing research? There are a number of ways! 1) Surveys, which allow you to ask concise and straightforward questions to a sample group that represents the target audience. The bigger the group, the more reliable the results. 2) Focus groups, where a representative uses a series of questions or topics to lead a discussion among the target audience. 3) Personal interviews are similar to focus groups, but are one-on-one and include unstructured, open-ended questions. 4) Observation allows the researcher to observe the target consumer in action by looking at videotape of them in stores or at work. This allows you to observe how they buy and use a product.
These methods have all been proven successful while preforming marketing research – and they don’t have to be expensive! Many of the tools your business may already use can help with marketing research, such as conducting surveys at trade shows, using social media to reach out to the target audience, and logging all current customer input. There is also an abundance of information on the internet!
Let us help!
Flight Path Creative is well-versed on marketing research and can help you by analyzing your target audience, customer demographics, business type and location, budget, and goals.
Want to learn more about how you can utilize marketing research? Give us a call at 231.946.7255 or SEND US AN EMAIL!