22152047
Description
Mind Map by Maria Soto, updated more than 1 year ago
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Created by Maria Soto
over 4 years ago
|
|
Six steps of Market Research
- 1. Define the question
- By determining what they
need to know, they are
defining the question that
will be the focus of their
research.
- 2. Determine the data needed
- Entrepreneurs need to make sure that
the data they collect will be helpful
- 3. Collect the Data
- First decide how you will gather the data.
(Survey, observation, focus group, etc.) Then,
you should perform secondary market
research to familiarize yourself with the
market. (Using economic trends, industry
forecasts, etc.) You can then choose the best
research method for the information you want
to gather.
- 4. Analyze the data
- Analyze and interpret the
information thoroughly. It
should be written so you can
refer to it later.
- 5. Take Action
- Develop a plan of action
based on the
information you found
in your market research.
- Develop a plan of action
based on the
information you found
in your market research.
- 5. Take Action
- Analyze and interpret the
information thoroughly. It
should be written so you can
refer to it later.
- 4. Analyze the data
- First decide how you will gather the data.
(Survey, observation, focus group, etc.) Then,
you should perform secondary market
research to familiarize yourself with the
market. (Using economic trends, industry
forecasts, etc.) You can then choose the best
research method for the information you want
to gather.
- 3. Collect the Data
- Entrepreneurs need to make sure that
the data they collect will be helpful
- 2. Determine the data needed
- By determining what they
need to know, they are
defining the question that
will be the focus of their
research.
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