Essential Methods to Follow When Preparing Market Research Snippets

There are a number of methods that are essential for market research companies when conducting research for preparing market research snippets. When preparing market research reports or even snippets, it is of utmost importance for market research firms to try and gather as much information about target audience and the competitive landscape of the market as possible. A target market primarily comprises these two elements and gaining significant intelligence on them. Collection of valid information on the market forms 80% of the market research report while the remaining 20% comprises analysis and interpretation of the collected data.

What are the most compelling methods of conducting research?

1.       Surveys – It is arguably the most popular method in market research. The ever increasing popularity of surveys can be primarily attributed to the fact that it is probably the most simple in terms of implementation and the easiest for collecting information. The information is typically collected in a form, which is later analyzed thoroughly for arriving at any conclusion. Surveys are typically implemented as paper surveys, telephone surveys, e-mail surveys and online surveys.

2.  Interviews – Interviews, too, are a widely used method for collecting information relevant for preparing a market research report. Interviews typically involves meeting a person who will be interviewed and asking him/her questions that are relevant to the objective of preparing the market research report. The process of conducting interviews is more difficult in comparison to a survey and typically involves more time for implementation.

3.   Focus Groups - Focus groups have emerged as a popular market research methods and are being gradually deployed across market research firms worldwide. At the focus group sessions, specially prepared questions that stimulate discussion within the group are moderated and discussions are recorded for analysing the gathered information.

Typically, these are the most popular techniques or methods applied for undertaking market research. In case there is need for additional data to meet their custom research requirements, market research firms typically resort to other custom processes, which are somewhat expensive in nature.