Know your Market: Conduct Research

To know your market, research is essential. And, there is a lot to talk about research. The research methodology generally adopted by the organizations is qualitative or quantitative. Generally, for a quantitative research, sample size is determined based on the segmentation done and for qualitative research; group or one-to-one interview is conducted and the interview guide is developed. For both the research, it is important to set the overall objectives of the research. Conducting group interviews can create problems if the participants selected are not homogeneous and the moderator is inexperienced and lack the objectives of the research. And during, quantitative research, its always advisable to avoid jargons, biased questions etc.

It’s always good to use free or low cost online survey packages like Surveymonkey.com, Zoomerang.com and Perseus.com/express. The survey length should not be more than 10mins. If the survey is more than the time frame mentioned, then the participant might lose interest. The open-ended questions should be limited.