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Please consider this free-reprint article written by:
Hallidae Thomason
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Article Title: Market Research, The Meat And Potatoes Of Good
Business
Author: Hallidae Thomason
Word Count: 436
Article URL: http://www.isnare.com/?aid=60676&ca=Marketing
Format: 64cpl
Author's Email Address: articledistribute[at]gmail.com (replace
[at] with @)
Easy Publish Tool: http://www.isnare.com/html.php?aid=60676
================== ARTICLE START ==================
What is market research really and why is it such a huge
emphasis for so many people?, one might ask. Can�t you just
create a good product that will attract it�s own market? Do
businesses really spend that much time doing something so
boring? Yes, No, Yes. The fact is that with out market research
a business will fail and this is the most common
misunderstanding for the thousands of small businesses that
leap up in this country every year and then die out almost as
quickly.
So why is it so important? Well, probably the best answer is
that everybody is doing it. Back in the days when market
research on this scale was not possible stores had a better
chance and could �learn� what the market was that they were
going to cater to, in order to survive. They didn�t know it but
they were in fact carrying out market research on a very much
smaller scale. Now a days you have to be on your game from the
get go or you will not survive (make a profit soon enough)
because other stores that do better to cater to the market will
steal your customers.
What is market research? Well this is a good question but maybe
too broad. In simple terms it is the study of a group of people
that you are planning on targeting to learn their buying habits
and their needs so that you can most perfectly be the answer to
those needs. It takes everything into consideration and even
will divide out subpopulations within a larger population or
submarkets within a larger market to target. It takes into
account the time of the year, the season, the economy of the
area and nationally, etc. Basically it is knowing what the
buyer wants in order to be their supplier and therefore is
guaranteeing yourself success (sales!).
So how does a store accomplish this? Well that too depends on a
lot of factors. How big is the population you are looking at?
What sector are you in? What kinds of resources do you have up
front? Who are your competitors? If you are small with a
limited budget you aren�t going to be able to do a more large
scale market research with a famous researching firm. You are
going to have to rely on self generated data collection whether
that be on the internet or through surveys or through study of
other stores in your sector and their success�trying to improve
on the good and eliminate the bad.
About The Author: Hallidae Thomason loves business and wants
others to have as much fun doing it as she does. If you want to
get more information on market research, click on
http://www.marketresearchgroup.info.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=60676
================== ARTICLE END ==================
For more free-reprint articles by Hallidae Thomason please
visit:
http://www.isnare.com/?s=author&a=Hallidae+Thomason
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