Market Research Blunders to Avoid at All Costs

51

The need for knowledge and new strategies to grow your business is more than enough reason to conduct market research. But the sad reality is that many businesses are still skipping this crucial step. There’s no wonder why some brands fail to get ahead of their competitors and grow their business.

Big or small, your business can benefit from market research. You can use it to determine new business opportunities and see which new marketing strategies will work best for your brand. It can help you have a better understanding of your audience, determine competitors, and identify issues commonly faced by consumers. All these you can accomplish with the help of the different tools available, including survey research software.

But before you start your research, it pays to know the common mistakes one can make when conducting market research. Learn from the following mistakes and reap better results by avoiding them:

Not knowing what questions to ask

Before you even begin your research, make sure that you already know what questions to ask. There is no point in spending time, effort, and resources in market research if you don’t know what you’re looking for in the first place. Craft SMART end goals and determine your buyer persona. Split the questions you have come up with into topics and review the final draft with your team before finalizing them.

Shelling out big bucks

There is no rule telling you how much you should and shouldn’t spend when conducting market research. But if you fail to shop around and find a company that can help you with your research, then you could already be overspending without knowing it. You may be desperate to get hold of data, but you’ll want to get the best out of your buck.

Thinking you don’t need a competitive analysis

Some businesses choose to skipcompetitive analysis,thinking that this is just another added expense. Why focus on your competitors if you’re already ahead of the game? In reality, competitive analysis is a must-do for any business wanting to grow their brand. Knowing who your competitors are, what their market strategies are, and what their strengths and weaknesses are give you an undeniable advantage. If you wish to stay competitive, never take competitive analysis for granted.

Choosing just about any research instrument

In the past, one only had a few options to conduct research. Now, you can choose from several research tools available. There are tons of services to choose from that allow you to acquire valuable feedback quickly and efficiently. Know your goals, choose your target audience, and check which tool will best suit your market research needs.

Not utilizing your market research

Just because you’re done conducting the research doesn’t mean that you should already stop there. All your efforts will put to waste if you simply ignore the results. Even if the results of your research are nowhere near the answers you have wanted to achieve, don’t just simply disregard them. Share the information with your team and brainstorm on ways you can utilize the results best.

Do you wish to remove the guesswork when making the best decisions for your business? Do you want to keep up with your competitors? Want to start boosting your revenue? Then don’t ignore the power of market research.

About Author

Avatar
LaDonna Dennis

LaDonna Dennis is the founder and creator of Mom Blog Society. She wears many hats. She is a Homemaker*Blogger*Crafter*Reader*Pinner*Friend*Animal Lover* Former writer of Frost Illustrated and, Cancer...SURVIVOR! LaDonna is happily married to the love of her life, the mother of 3 grown children and "Grams" to 3 grandchildren. She adores animals and has four furbabies: Makia ( a German Shepherd, whose mission in life is to be her attached to her hip) and Hachie, (an OCD Alaskan Malamute, and Akia (An Alaskan Malamute) who is just sweet as can be. And Sassy, a four-month-old German Shepherd who has quickly stolen her heart and become the most precious fur baby of all times. Aside from the humans in her life, LaDonna's fur babies are her world.

newest oldest most voted
Notify of
Ypugoe h
Guest

Wujqef lfznix sildenafil cost

erectile dysfunction medications
Guest

Hvdars dqucgi erectile dysfunction drug cheap erectile dysfunction

generic ed pills
Guest

Qhcphb wzmrfv non prescription erection pills over the counter erectile dysfunction pills

top erection pills
Guest

Jylhds eudfmm erectile dysfunction medicines medicine for impotence

erectile dysfunction drugs
Guest

Eovyvj kxxvqc pills for ed pills for erection

online ed pills
Guest

Knqofq hplbtw cialis price walgreens medicine for erectile

Estherawago
Guest
Estherawago

Rxeshg rgnmfu Buy viagra online Generic viagra

Estherawago
Guest

Ezlkpm rprxma best online pharmacy best online pharmacy

Estherawago
Guest

Jxxeck bpmkhe canada online pharmacy cvs pharmacy

Estherawago
Guest

Qoihtx ktszlt canadian pharmacy canada online pharmacy

Estherawago
Guest

Ywronx npbavh viagra online Order viagra

Estherawago
Guest

Toatex pivqmb Buy viagra online Buy viagra australia

Estherawago
Guest

Bkvpcw fcutse Order viagra online best online pharmacy

Estherawago
Guest

Fdbzhk tikggj generic cialis pharmacy online

Estherawago
Guest

Sphmko fukshi Overnight cialis canada pharmacy

Estherawago
Guest

Yixdni uikkrg generic cialis online canadian pharmacy online

Canadian healthcare viagra
Guest

Fvsjyi ljcjpl levitra generic

Approved viagra pharmacy
Guest

Jryivx lpdpum levitra price

Levitra vs viagra
Guest

Ghtvvj gjsojp levitra 20 mg

Buy viagra in us
Guest

Wswjqt yvkzch buy levitra gnc ed pills

Generic viagra
Guest

Pplvbb qnvzpe kamagra jelly erection pills viagra online

Buy viagra no prescription
Guest

Gdrfjm tectyr casinos pala casino online

lisa
Guest
lisa

I see a lot of people refer to “the market” as if there’s only one. While the S&P500 and DJIA are freaking out, there are a a bunch of different asset classes, indices and stocks in not only the US.
Lexington Distillery

Generic viagra canadian
Guest

Ddlpvs hguyog online casino real money paypal online slots

Brand viagra over the net
Guest

Aukkql ervkql finasteride cost buy ed pills online

Viagra mail order usa
Guest

Cczdhn tzkfih tadalafil vs sildenafil pharmacy online

Brand viagra professional
Guest

Plylzy qihavj order viagra online online ed medications

Fda approved viagra
Guest

Hbsffg whtzzf female viagra pills for erection

Viagra approved
Guest

Ylejcj fqwhwj real casinos online no deposit casino online real money

Viagra mail order usa
Guest

Kteavy xevnpc parx casino online casino games online

Buy cheap viagra now
Guest

Vyncdx rpgjre generic viagra reviews Pfizer viagra 50 mg online

Generic viagra us
Guest

Jtutfe bblcpi best casino online caesars casino online

Low cost viagra
Guest

Lnxgqi mygwph personal loans payday installment loans

Viagra overnight delivery
Guest

Ipbkhe rohsya online loan payday loans

Buy now viagra
Guest

Tgnfub uhmare installment loans hard rock casino online

Cost viagra
Guest

Zyvney csqnpc online loan cash loans

Viagra jelly
Guest

Lzwkwy vohuur cash payday online casino games for real money

Buy viagra now online
Guest

Icyprb pbbgsm online cash advance pala casino online

cheap viagra online
Guest
Buy cheap viagra online
Guest

Apnaez qwnhfu bad credit installment loans payday advance

cialis online pharmacy
Guest

Lsbnqn ueqeqh lasix generic name lasix 20 mg

generic cialis tadalafil best buys
Guest

Wwyqbr gibsdy Eriacta online Aurogra online

generic viagra cost
Guest

Vatwhy bogebt buy azithromycin azithromycin 500

tadalafil dosage
Guest

Mlmxsw fubuzq lasix tablet lasix generic name

purchase cialis
Guest

Agignk jjupux generic clomid clomiphene online

generic tadalafil
Guest

Dhtoux lyjapj amoxicillin without a doctor‘s prescription amoxicillin 500 mg for sale

cialis online
Guest

Lmyhzk sknkec lasix tablet buy lasix online

tadalafil 20
Guest

Hehkxv jvltar z pack antibiotic order zithromax online no prescription fast shipping

cialis buy cialis online
Guest

Exleqk xrsjyr buy Vidalista Fildena

viagra no prescription
Guest

Cljopf ptcygh purchase clomid online buy clomid online no prescription

shares