As marketers it is crucial that we understand our customers wants and needs. Market research can be helpful in identifying trends and give your organization a competitive advantage.
The first step is determining the problem your organization is trying to solve. Taking the time to evaluate what information you are looking for will help guide your research process, saving both you and your organization time and resources.
Second, you will want to find out if there is already research done on the topic. If there is already research on the topic, use it. Referencing secondary data sets can assist with the formation of research topics or may even answer your question outright.
Once you have determined what you want to find out and what we already know, you can design and run your market research study. By taking the above steps before starting, you will have saved yourself and your organization time and resources, while improving future marketing outcomes at the same time.
