you can research market viability, the demand for the product you have in mind, the features your target group is looking for, or the best way to position, price, market and communicate your product to your target audience. you can use market research to fine-tune your product development and the relevant aspects around it. market research done right forces you to step out of that bubble and not just look at how you can make the product shinier, faster and stronger, but how you can give it the right place in the market. how can you supplement it with additional research to get the full picture? you can also gather information on how happy people are about a product or service.
of course, you can’t come to your market consumer in the initial stages of the process and ask them to design the product for you. what parts of market research can you not skip over when your goal is using it for product development research? will the market analysis focus on market demand and pricing, or is there still a lot of ground to cover in the physical product and usage habits? especially if you’re going to talk directly to your consumers, you want to use a tool that’s as easy and pleasant to use for them as it is for you. that’s why you can also target your market research at your marketing for the new or improved product, by creating mock-ups and testing messaging with your focus group. use attest’s expertly crafted survey templates and built-in audience of 110m people in 49 countries for the insights you need to ensure a successful product launch.
discover the different types of market research, how to conduct your own market research, and use a free template to help you along the way. ultimately, market research allows you to get information from a larger sample size of your target audience, eliminating bias and assumptions so that you can get to the heart of consumer attitudes. primary research is the pursuit of first-hand information about your market and the customers within your market. now that we’ve covered these overarching market research categories, let’s get more specific and look at the various types of market research you might choose to conduct. this type of market research can give you ideas for product differentiation, or the qualities of your product that make it unique in the marketplace.
now that you know about the categories and types of market research, let’s review how you can conduct your market research. here are some more guidelines and tips to help you get the right participants for your research. you can use these as talking points for an in-person interview, or as questions posed on a digital form to administer as a survey to your target customers. to find the online publications with which you compete, take the overarching industry term you identified in the section above, and come up with a handful of more specific industry terms your company identifies with. pro tip: upon downloading hubspot’s free market research kit, you’ll receive editable templates for each of the given parts of the kit as well as instructions on how to use the templates and kit, and a mock presentation that you can edit and customize. even if you think you know your buyers pretty well, completing the study will likely uncover new channels and messaging tips to help improve your interactions.
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