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Market Research and Testing Your Business Idea

This is a guest post from Kevin Kaiser of Startup Biz Blog.

So, how much time have you spent writing your business proposal? Are you reading this article because you’re trying to kill time on the internet rather than trying to find investors, or are you hitting dead ends when you do put yourself out there and get your proposals in to investors or banks?

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“How Am I Doing?”

Former New York City mayor Ed Koch was famous for asking, “How am I doing?” The question let his customers–the voters of New York–know that he was interested in their opinions, and that he valued their feedback. Do you regularly ask your customers how you are doing?

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Too Many Choices

A confused mind does not buy, and offering customers too many choices can cost you sales.

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Choosing Good Keywords

You may know that it is important to include keywords in the titles, headlines and copy on your Web pages. But how do you know which keywords to use?

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Using Surveys to Learn About Your Customers

Surveys can be useful to find out what your customers are thinking and how you can better serve them. To conduct a meaningful survey, you need at least three things: 

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Automatic Research

Want to know what is being said about you, your company, or the competition? Or just keep up with trends and developments in your industry? There is an easy and no-cost way to have news sent to your e-mail inbox.

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Market Research: Do-it-Yourself Focus Groups

Focus groups assemble several people who are current customers or members of a target market to give their opinions about current or planned products, advertising campaigns and more. One way to conduct a do-it-yourself focus group is to create a customer advisory board.

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Be the Customer

Whether your business is an international retailer or a small one-person shop, what you don’t know about your customers’ perceptions of your quality and service can hurt you. Put yourself in your customers’ shoes and test your business. 

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Checking Out the Competition

Getting information about your competitors can be easier than you may think.

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Are You in Focus?

Focus groups assemble several people who are current customers or members of a target market to give their opinions about current or planned products, advertising campaigns and more.

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