Ask Your Target Market


Get inside the minds of your target market with AYTM's intuitive
online survey tool - the first affordable Internet survey software with a built-in consumer panel. Use the online survey creator to build your survey, define the criteria of your target market, and watch the results begin to pour in immediately.

Friday, December 10, 2010

Market Research Simply Put

Market research, simply put, is an organized method of collecting data (opinions, needs and behaviors) from a specific demographic to identify market size, viability of product or services, and current need in the market place. The collected data is then used in strategic marketing plans, ad campaigns, creative design processes, as well as placement or repositioning in the market to gain a competitive edge. The efficacy of market research is dependent on many variables -the person constructing the market research, the conduit, the ability to analyze results and the follow-through.

Businesses use market research for many reasons; it is important that you follow the golden rule: “Begin with the end in mind.” Define your need, develop your research plan, determine your platform and deliver to your target market. Once you have your data you need to decide what you are going to do with it; this is where the real work begins. Strategically align your marketing plan or new business venture using what you have learned from your target market as a guideline.

There are various types of market research. The most important factor is choosing which type aligns with your goal of achieving the most valuable data. That goal is to define the “pain” in your market, further translating into increasing your bottom line. Let’s take a look at the various market research options.

Primary research is a term used to describe collecting data/information to meet your specific needs; secondary research is gathering information readily available through various resources. Despite the name references, secondary research is usually the starting point to gain a better understanding of just “who” your target market may be and what their needs are.

Looking more closely at Primary research, it is divided into two categories, qualitative and quantitative. Qualitative research reaches out to your market usually through in-person focus groups, via video response or surveys with open-ended questions allowing freedom of expression on the given topic. Focus groups (in person) should be conducted by a professional and are cost prohibitive for SMB’s and startups. Using online platforms that allow for video responses from a panel is an excellent alternative and only a fraction of the cost.
Quantitative research collects data with numerical significance providing statistical analysis, and is more commonly used. The advantages of quantitative research are - it is less costly, easier to administer and take less time to complete. It is imperative that you become familiar with the best practices when constructing a survey to achieve optimal results.

The evolution of the Internet has had a great impact on the way market research is conducted today. The added channels of communication via email, blogging, social networks and SaaS, operating in a “cloud”, has opened doors for conducting surveys to both B2B and B2C demographics online. No longer does a company have to shell out thousands of dollars to a market research firm to reach their target demographic. With a few clicks of a mouse, and some basic knowledge on how to write an effective survey, they’re on their way without emptying their pockets.

Traditional market research can cost in the thousands, while DIY online platforms afford you the opportunity to create and launch a basic survey for much less. Whether you're trying to validate a business concept for viability, get opinions on creative materials, or rebranding your business, educate yourself and explore your online options before picking up the phone.

If you would like to speak to someone directly about using AYTM for your market research, please visit our contact page.

68 comments:

  1. I agree. Market Research Simply Put is really important medium for advertisers now.
    example survey questionnaire

    ReplyDelete
  2. I desired to thank you for this exceptional read!! I absolutely enjoyed every single small little bit of it. I’ve you bookmarked your internet site to look at out the new stuff you post.
    buy business dissertation

    ReplyDelete
  3. Very informative post. Thanks for taking the time to share your view with us.

    www.writemypapers.org

    ReplyDelete
  4. It's right what I needed! Thank you very much! editing

    ReplyDelete
  5. Thank you for this article! It may help me write my research paper.

    ReplyDelete
  6. Useful information shared..I am very happy to read this article..thanks for giving us nice info.Fantastic walk-through. I appreciate this post.:)
    College essay writing help.

    ReplyDelete
  7. Market research is very interesting. Visit this page to know more!

    ReplyDelete
  8. Market research is very hard, but you can visit prime-essay.org if you need help;-)

    ReplyDelete
  9. Students find custom essay writing services reviews to be a burdensome activity. There is a great need to let students understand the importance and benefits that the writing essay brings - that it is intrinsically valuable to their academic growth.

    ReplyDelete
  10. Sometimes I have to make copies of my various ideas and then cut the various ideas and move them until I get what I want. What would you like to try?

    Buy Essays Uk

    ReplyDelete
  11. Good post. Some people look for professional writing services for easy preparation of their assignments so http://www.express-essays.com providing you help in writing papers or preparing assignments.

    ReplyDelete
  12. It is very useful article. but i am cannot deal with their academic tasks without professional assistance. Do not be scared when buy essay on line, because writing organizations are not allowed to utilize plagiarism. So, you have to be absolutely assured that your essays would be completed of good quality. Our writing company consist of experienced professionals who will decide any question as soon as possible

    ReplyDelete
  13. Interesting post. By the way, students do not have to worry anymore about writing essays. Using first-rate custom essay writing service, that are available 24/7, learners will always get professionally written essays.

    ReplyDelete

  14. There are various companies available which offered writing services like essay writing, research paper writing and many more. These companies pay to write research paper and this will be very advantageous for you.

    ReplyDelete
  15. If you need to get an admittance in a school, college or a university or cause any help in any kind of mission, so don’t get unnerved. Get ideas about your creation by using essays writing. I don’t consider that there is anything debauched in using writing services.

    ReplyDelete
  16. Cheap essay papers is one of those essay writing companies, which do their very best to make the customers 100% satisfied with their services.

    ReplyDelete
  17. one day I had to write an essay,but as you have understood,not even a minute was spent on it.Fortuntely,my friend advised me this essay writing website and i was surprised at their professional level and available price.

    ReplyDelete
  18. Cool article about Market Research Simply Put is cool =)

    essay buy on best-essays-writers.com



    ReplyDelete
  19. Writing essays is a difficult task. However, the majority of students have to write essays in colleges and schools. Some essay types are easy while other require special skills and knowledge. It may be difficult to write a good essay for students who have to work part time or students from abroad. essay writing service!

    ReplyDelete
  20. Market research in various branches of a certain industry can help to define the demand and supply of a certain product.P.S. using these custom essay writing services reviews, one can easily pick up the best one.

    ReplyDelete
  21. Market research is very important in order to know the correlation of the demand and supply. Original academic papers on marketing and economy are offered by this reliable writing company.

    ReplyDelete
  22. It is very interesting for me to learn that there are various types of market research. The most important factor is choosing which type aligns with your goal of achieving the most valuable data. That goal is to define the pain in your market, further translating into oncreasing your bottom line. custom written essays

    ReplyDelete
  23. Many students often rely on custom essay-writing services to get their paper or essay written within the specified deadline. They choose this option for many different reasons – they may not have sufficient time to research or lack the knowledge to write a compelling essay. http://custom-writing.net

    ReplyDelete
  24. Market research helps us understand which goods are the most popular and which are not at all.Original academic papers in Economic sare offered at Custom-Essays-Online.com.

    ReplyDelete
  25. Get top grade essay writing help online! Choose us and forget about your writing problem! buy a research paper

    ReplyDelete
  26. Many students often relly on http://advanced-writer.com to get their paper or essay written within the specified deadline.They choose this option for many different reasons – they may not have sufficient time to research or lack the knowledge to write a compelling essay. Whatever the reason, these essay-writing services are increasingly popular.

    ReplyDelete
  27. I have not found a company as good as this essays-shark.net one. If writing isn`t your strong point,adress to professional company.You shouldn`t be afraid to ask for help in any time

    ReplyDelete
  28. Hy to all! Great article! Thanks a lot! essay-mania.com - the ideal solution for education process! They help me and I'm sure will help everyone!

    ReplyDelete
  29. It is very useful to do market research in order to know what produvt prevails over other. By the way, you can always order original marketing essays at best-custom-essays.com. :)

    ReplyDelete
  30. I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. . Assignment Help

    ReplyDelete
  31. There are various types of market research. The most important factor is choosing which type aligns with your goal of achieving the most valuable data. Buy English Literature Essays

    ReplyDelete
  32. Very nice article! Market researching is cool! Thanks for sharing your experience. Keep on writing, but if in some reason you need some writing help then go to http://papers-writings.com

    ReplyDelete
  33. Truly, this article is really one of the very best in the history of articles. I am a antique ’Article’ collector and I sometimes read some new articles if I find them interesting.
    Assignment Help

    ReplyDelete
  34. I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. . buy sunglasses

    ReplyDelete
  35. Making researches is very important, it helps develop any kind of business. If someone needs professional assistance in writing researches or other academic papers I advise to use academic-writings.com.

    ReplyDelete
  36. As for me this article very useful!! Thanks that you sharing! If you study now on economic faculty and you need order for yourself article, please come here http://essay-professors.com and do this!

    ReplyDelete
  37. Get the best assignment help from MakeMyAssignments.com at affordable prices. Assignment help

    ReplyDelete
  38. Truly, this article is really one of the very best in the history of articles. I am a antique ’Article’ collector and I sometimes read some new articles if I find them interesting.
    Assignment Help

    ReplyDelete
  39. We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Great work read this. https://www.allassignmenthelp.co.uk/
    Assignment Help

    ReplyDelete
  40. Every student must work hard if they need to receive good grades. Paper writing is always a hell of a life. FORTUNATELLY THERE IS A SOLUTION - www.custom-paper-writing.org - real experts here can write paper of any academic level as soon as you need.

    learn more here

    ReplyDelete
  41. I thank thee that I am none of the wheels of power but I am one with the living creatures that are crushed by it. Neppy Melange Yarn

    ReplyDelete
  42. There was a time, when I was having real trouble dealing with sudden uncertainties. However, with short term loans by Oyster Loans, I found a way out of the crisis. Open to almost all the applicants, these loans are indeed the best alternative to resolve temporary monetary crisis.
    short term loans

    ReplyDelete
  43. You have written very well about the marketing research. I was on your website and reading your blog. You have shared very informative blog for every one. Please keep update from your more blogs. Thanks for sharing this with me.http://packagingboxessupplier.co.uk/candle-box-printing.html

    ReplyDelete
  44. One more reason to do market research is developing new product or service. one can ask its market through survey that what new they want in your product, so this way you can go for product development. Quality Blinds Coventry

    ReplyDelete
  45. This comment has been removed by the author.

    ReplyDelete
  46. Market research is quiet effective way to get maximize your bsiness. healthcare services

    ReplyDelete
  47. I agree with that golden rule - it is very important to think about ending when you start something. This is also the rule for writers. Effective quality writing also depends on the ending and conclusions. Besides, if you need a helpful resource to get rid of writing difficulties http://www.grand-essays.com/ here is the great one.

    ReplyDelete
  48. The requirement for the quick money advance is sure to emerge at least once inside a man's life. You'll discover a large number of purposes behind choosing to produce a quick money advance application. cash advance san-diego

    ReplyDelete
  49. We are able to serve you what you are wanting like take a look at cashing near American nation it's very smooth to are searching for out U.S.A. www.unitedcheckcashing.com

    ReplyDelete
  50. A payday credit is an advance taken out to cover costs until your next payday, thus the name.
    www.usacheckcashingstore.com/san-diego

    ReplyDelete
  51. Get appropriate assignment writing services in last minute at lower price and enjoy your academics with higher grades. https://www.singaporeassignmenthelp.com/

    ReplyDelete
  52. Let's assume you require transportation - an auto, and you don't have any money to make the initial installment.
    www.usacheckcashingstore.com/san-diego

    ReplyDelete
  53. So as to get affirmed you to just meet a couple of general criteria. You should be 18 years of age and have a financial records and a stable employment. www.usacheckcashingstore.com/chula-vista

    ReplyDelete
  54. The times of reams of printed material, faxing forward and backward amongst organizations and clients, and long stretches of holding up while printed material was handled have all been supplanted by moment, online quotes, no-paper managing an account and direct contact between money related specialist co-ops and clients.
    www.usacheckcashingstore.com/san-diego

    ReplyDelete
  55. Juggle additional expenses with outstanding charge card adjusts. It is a viable approach to deal with an over-burden of bills.
    www.aaa1autotitleloans.com/chicago

    ReplyDelete
  56. This comment has been removed by the author.

    ReplyDelete
  57. You can complete Assignment from our company (IrelandAssignmentHelp.com). If you encounter any problem in assignment, then you can take the Assignment Help from our company.

    ReplyDelete
  58. Once you have your data you need to decide what you are going to do with it; this is where the real work begins. Strategically align your marketing plan or new business venture using what you have learned from your target market as a guideline.
    buy dissertations online

    ReplyDelete