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    6 Replies Latest reply on Apr 2, 2008 3:42 PM by ResearchSight

    How do you use market research in your business?

    ResearchSight Newbie

      I would like to learn more about how small businesses use market research to guide decision-making. Any feedback on how your company uses research would be much appreciated.


      Do you conduct surveys of current or potential customers? Why or why not?


      Do you analyze existing research to gain a better understanding of your target market? What sources do you use? How do you analyze the data and apply it to your business question(s)?


      What type of research have you considered conducting in the future?
        • Re: How do you use market research in your business?
          LUCKIEST Guide
          How do you use market research in your business


          Marketing research is a form of applied sociology that concentrates on understanding
          the behaviours, whims and preferences, of consumers in a market-based economy,
          and aims to understand the effects and comparative success of marketing campaigns.

          Product research - This looks at what products can be produced with available technology,
          and what new product innovations near-future technology can develop

          Advertising research - is a specialized form of marketing research conducted to improve the
          efficacy of advertising.

          • Re: How do you use market research in your business?
            jayman8117 Wayfarer

            Great question, and I am a firm believer of Guerilla Marlketing. But I think your answer will best by joining LinkedIN, and joining one of several private groups that are part of Linkedin, such as LION,, Power Forum.

            If you post your question there, you wil have marketing guru;s from around the world answering you.

            Let me kknow if you need an invitation to LinkedIN.

            here is my profile

            Jay Rose
            Echo Electronics
            • Re: How do you use market research in your business?
              Uncle Leon Tracker

              Here's two examples of how I used it.

              In 1977, when I owned a photography studio (in a resort area) with an in-house color processing lab (for my own studio work, only); I was considering whether it might be worth adding more machinery and employees so I could have my color lab process film and prints for the public. At the time, there was no such business in town. All film processing had to be sent out of town. The fastest processing was two days, and most oif it was a week.


              I had a survey created to determine (especially tourists) if such a service would be something they might be interested in utilizing. The results were positive. Based on that I expanded and had a successful operation.



              In creating a sales letter, I was undecided between two headlines, as to which would be more effective with the recipients. I created several hundred with one headline and the same amount with the other, and randomly mixed them and sent them out as a "test market". The results from those helped me deteremine which headline seemed to be more effective. I then created all the rest with the "winning" headline.

                • Re: How do you use market research in your business?
                  ResearchSight Newbie

                  Thanks for sharing your stories Uncle Leon! This seems like a great application of research. I often wonder whether small businesses should do more research like this. My feeling is that research helps us mitigate risk and identify new growth opportunities. That seems especially important in today's economy.

                  Here's an example of how I recently used research to guide my business decisions: After conducting and reviewing several studies on the sustainability and health and wellness trends for a white paper designed to help Nutrition Professionals build their businesses, I worked with the Director of a small local college to develop a concept for a new website: We have yet to launch the site but the process of studying some key trends in the US has been quite useful in helping us define the concept. I'm sure we'll be doing more research in this area as the project progresses and feel equally certain that the research process will help us create an offering that people want and need.


                  In case you're curious, here's a page I put together that describes some of our work on Sustainable Nutrition:
                • Re: How do you use market research in your business?
                  Lighthouse24 Ranger
                  Similar thread awhile back -- here's the link in case you didn't catch it: