Title: More Market Research Tips 

Hello,

I hope you’ve been enjoying our series on market research
so far. So far you’ve learned the basics of market research,
how to understand your customers and competitors, how to
develop a killer product to fill a spot in the market, and
how to price your products.

Today we are going to look at a few final elements of 
market research to really help you fill those remaining
gaps and fully understand your market.

So let’s take a look at the list of market research tips:

1. Make sure to include spaces on your surveys for survey 
takers to fill in additional, open-ended responses that 
might get you information you never thought to ask about.

2. Use spreadsheets, charts, and graphs to visualize the 
information you gather to make it easier to see your results
at a glance, which will make it a cinch to analyze the data.

3. Pay even closer attention to negative comments and any
criticism than you do praise. Criticism can be much more
valuable than good comments, because it can help you see
areas where you can improve, even if it stings a bit to hear!

4. Whenever you do surveys, try to get a large enough sample
group that your results are accurate. If you only get a small
handful of people to take your survey, your results may be
skewed.

5. Be sure company’s goals fit the SMART profile. They should
be specific, measurable, attainable, realistic, and timely.
For example, a specific goal for market research would be 
figuring out your target demographic. It would be measurable
by the success of your advertising using that demographic.
It would be attainable and realistic. And it would obviously
be timely.

6. Remember to weigh supply and demand in your chosen market.
Even if you find an abundance of products in your market,
there may still be room for you if demand in that market is 
very high. The reverse is also true. If you have very few
competitors, but there is low demand, you may never be able 
to sell enough of your product to profit from it.

7. Phrase survey and interview questions carefully. For example,
asking someone if they would be interested in a product could
yield a vastly different response than asking someone if they
would be likely to purchase a product in the next three months.

Well, that’s it for our series on market research. I hope you
have learned a lot and enjoyed the series. Stay tuned. I just
may have more lessons coming up soon!

Best of luck,

{YOUR NAME HERE}

PS- Be sure you’ve whitelisted my email address so you don’t
miss any future training!


