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Market Research: A Beginner's Guide

❶Market research should be designed to help you and your business become more competitive and profitable.

Additional Perspectives on Conducting Market Research

Using UMUC Library Databases for Market Research
17 Helpful Market Research Tools & Resources
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The only thing that has been difficult is getting used to my new appetite. I've been throwing out a lot of my food because I physically feel like I cannot eat that much, and if I do eat too much then I don't feel so good. However, I'm learning to keep all my meals small and frequent (just like I should have been doing all along!).

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In conducting your market research, you will gather two types of data: primary and secondary. Primary research is information that comes directly from the source--that is, potential customers. You can compile this information yourself or hire someone else to gather .

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Knowing how to conduct market research enables marketers to create new products, features, and pricing that speak directly to the needs of their customers. Sadly, most of us lack psychic powers. But we do have market research.

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Conducting market research is often the starting point for key components of businesses' marketing and sales strategies. It's what helps you draft personas, clarify your marketing messaging, set product marketing direction, and build your sales playbook. How to Conduct Market Research Various methods of market research are used to find out information about markets, target markets and their needs, competitors, market trends, customer satisfaction with products and services, etc. Businesses can learn a great deal about customers, their needs, how to meet those needs and how the business is doing to meet those needs.

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Market Research Resources on the Free Web. There are many resources on the free Web that can be used to find data for conducting market research or for learning more about how to conduct market research. Set goals for your marketing research project by identifying what it is you want to find out. Decide which primary research sources you will use. Decide on secondary marketing research sources. Analyze the data you collected. Prepare your findings for presentation.