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What is market research?
You need to adapt your marketing strategy to complement the way today's consumers research, shop, & buy to sell your service. To do that, you must have a deep understanding of who your buyers are, your specific market, and what influences the purchase decisions and behavior of your target audience members.
Market research is the process of gathering information about your business's buyers personas, target audience, and customers to determine how viable and successful your product or service would be, and/or is, among these people.
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MORE IDEAS ON THIS
Primary vs. Secondary Research
Primary Research
- Exploratory Primary Research: It is concerned with potential problems that would be worth tackling.
- Specific Primary Research: It is used to dive into opportunities the business has already identified as impo...
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Why do market research?
Market research allows you to meet your buyer where they are, & understand your buyer's problems, pain points, & desired solutions. You can then market your service to appeal to them.
Market research also provides insight into :
- Where your target audience & current customers cond...
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How to Do Market Research
- Define your buyer persona.
- Identify a persona group to engage.
- Prepare research questions for your market research participants.
- List your primary competitors.
- Summarize your findings.
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Types of Market Research
- Interviews
- Focus Groups
- Product/ Service Use Research
- Observation-Based Research
- Buyer Persona Research
- Market Segmentation Research
- Pricing Research
- Competitive Analysis Research
- Customer Satisfaction and Loyalty Research
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Digital Marketer Welcome to my Deepstash where I share ideas I find most valuable for those who wish learn more about digital marketing!
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Other curated ideas on this topic:
Why do market research?
Market research allows you to meet your buyer where they are, & understand your buyer's problems, pain points, & desired solutions. You can then market your service to appeal to them.
Market research also provides insight into :
- Where your target audience & current customers cond...
What is Market Segmentation?
The basic definition of market segmentation is when your target audience is divided into smaller categories that share similar characteristics.
Here are a few reasons why this can benefit your brand:
- Creating hyper-targeted ads
- Building stronger relationships with custome...
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