Marketing research comes in handy at many points during the eBusiness lifecycle: when contemplating a new business venture; introducing a new product; identifying potential customers, etc. In-depth research performed by one of the many market research companies is a fast way to use up your marketing budget if you are a small business. Are there any alternatives? Of course. The Internet is a wealth of information, and while the market information you get for free or inexpensively is not as focused or detailed as you might get with the professional consultants, it usually suffices for many on a small budget. So where does one find this information online? Let’s look at a few sites:
* Yahoo! Web Statistics
Check Yahoo at http://dir.yahoo.com/Computers_and_Internet/Internet/World_Wide_Web/Statistics_and_Demographics/ for links to good sites and surveys pertaining to the web and Internet.
* AdAge Magazine Online
Look at http://www.adage.com/datacenter.cms for leading ad spending estimates, media rankings, ad agencies, and salary surveys.
* NUA Internet Surveys
Surveys and news clippings from various categories related to the Internet.
* Email Marketing Case Studies
Go to http://www.clickz.com/em_mkt/case_studies/ and take a look at these case studies by Heidi Anderson. Real companies, real cases, real results.
* Esearch General Case Studies
This sites available studies are somewhat dated, but can still be useful as a general guideline. Studies include: Online Investing; Online Auctions; Children Online, etc.
* Ecommerce Guide
This site at http://ecommerce.internet.com/ is a great general online resource. The articles provide insight into what is happening with ecommerce right now. Recent articles as of this writing are: “Dot-Com Sales Lower This Year", “Amazon Sales Jump 21%", and “Payment Made Easy (online merchant accounts)".
* Big Picture Cyberatlas Statistics Toolbox
This site (http://cyberatlas.internet.com/big_picture/stats_toolbox/article) has recent stats on Internet usage, ecommerce, demographics, advertising, and more. This is a real treasure trove of valuable data. Here are some of the reports you can find here: “Top US ISPs by Subscriber"; “Online Populations"; “Hispanic Ownership of Selected Home Media Technologies"; “Lycos Top 50 sites for the week ending June 29, 2002"; “Surfer Traffic, May 2001 to May 2002"; “Newspaper Site Traffic"; “2001 Worldwide PDA Shipments". As you can see, there is tons of information here that can help you plan a marketing campaign, or roll out a new product or service.
* eMarketer.com
This site provides excellent reports, but alas they are not free. However, for a reasonable price you can get highly focused and detailed reports for any segment and topic you are interested in…check it out.
This is just a quick list to get you started. You can always do a Google search on ‘market research’ or ‘statistics ’. By the way, many of the links mentioned in this article can be found on our Resources page at http://www.profitmonkey.com/resources.html
Media And Market Research
It is essential to carry out market research before stepping into a new market or starting a new business venture. Market research gives you information on the target market and consumers. Market research reports help you to design an effective marketing campaign and also equip you with market research intelligence, which is required for the successful functioning and profit of the business.
Market research in simple terms implies the collection and analysis of market research information, related to organizations, people and market, in order to improve decision-making.
For conducting market research, clients adopt market research techniques that compliment the requirement of the company, and fit in the budget. Market research data can be either qualitative or quantitative. Qualitative data involves collecting information by telephone, through focus groups, surveys, postal questionnaires and personal interviews. Market research professionals and market research analysts analyze the data collected by market research firms.
Market research analysts believe that conducting interviews for qualitative market research is a better option. It helps the market research analysts to understand, why people hold a particular view towards the product, what are the shortcomings of the product and what is the consumer response towards it.
Market research plays a deciding role in many business situations. It helps the company to look at the profitable avenues for the business and also discovers new markets for it. However, market research is not an easy task, as it requires great analyzing and understanding power on the part of the researcher. Market research companies, irrespective of their size adopt market research tools, market research techniques and market research tips for conducting market research.
It is always safer to hire a market research company for conducting market research. The Market Research Society publishes an annual issue of research Buyers’ Guide, which contains information on more than 700 market research agencies and their areas of expertise. It is not essential that you hire specialist market research agencies for the purpose of conducting market research, in case you are a new player in the market. However, your business plan must be well set in your mind. You have to be clear of what you want to achieve and draft a budget suitably for it.
Market research is the most vital step for any business firm. It can take your business to greater heights and can help you generate profits, in quantum amounts.
To avail more information on market research log on to the website: http://www.rncos.com.
RNCOS E-Services Pvt. Ltd. is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our market research reports, visit us at our website: - http://www.rncos.com or email us at info@rncos.com.
Both Michael Martone & James Marriot are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Michael Martone has sinced written about articles on various topics from Marketing, Data Recovery and The Internet. Michael Martone is the webmaster at ProfitMonkey.com and is also the editor of the free newsletter Ebiz Edge. Additional articles on eBusiness and a Free welcome basket are available at. Michael Martone's top article generates over 480 views. to your Favourites.
James Marriot has sinced written about articles on various topics from Recreation and Sports, computers and the internet and Information Technology. RNCOS E-Services Pvt. Ltd. offers complete e-publishing solutions for your business. We provide personalized world-class content development and management solutions that are qualitative and result-oriented.. James Marriot's top article generates over 40500 views. to your Favourites.
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