
“Once our survey is created, how do we effectively distribute it?” Zoot asked. “Do we go door-to-door? Do we call people? Do we create an online survey?”
“Possibly all three,” Marka said, “but we’ll talk more about that next week.”
Today’s FIRE! Point
Market research and data collection are crucial to answering important marketing questions. Start your investigation by gathering as much secondary data as possible. If the data you require doesn’t exist or is outdated, consider survey research, which will allow you to discover the knowledge, beliefs, preferences and satisfaction of potential print buyers. A questionnaire, in which a set of questions is presented to respondents, is a common and effective form of survey research.
FIRE! in Action
Strategic Market Research Helps Grow Indian Biscuit Brand
After ITC’s research revealed significant opportunities in the urban biscuit market, the company entered new products into several biscuit categories. Several years later, ITC’s biscuit brand was worth $5B Rupees and was growing at about 15 percent a year.
Next week: Marka discusses different the advantages and disadvantages of various survey contact methods.
- Categories:
- Business Management - Marketing/Sales
