How Do You Conduct Market Research?


Quick Answer

To successfully conduct market research, define your objective, determine your form of research, prepare your research instrument, collect data, and analyze the information. Compress the data to make it easy to present.

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Full Answer

  1. Define the objective

    Define the goals of your project to ensure you have a clear understanding of the objectives. Make a dummy report, and show it to clients to ensure that the end product is satisfactory.

  2. Determine how to conduct your research

    Come up with a research method that best obtains the data you need. Note how you choose your sample and where to conduct your research. Refer to your dummy report for direction on the best research method to use.

  3. Prepare your research tool

    Design an effective research tool. Write questions if a survey is your choice of research method. Test your research tool on a small sample to ensure that it works well.

  4. Collect data

    Collect and record data, preferably in a spreadsheet form. Ensure that you record every piece of information collected from interviews, surveys or focus groups.

  5. Analyze the data

    Structure your data properly for analysis. Segment your results by gender, age or any other form that fits the information. Build graphs and tables where applicable. Look for obvious trends in your data, and formulate a conclusion.

  6. Present your results

    Compile the most compelling data in a way that is easy for your audience to digest. Make a report or presentation. Start with the research objectives, and offer recommendations based on your results.

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