Conducting market research

[Munchbox]

Hi,

I have a new retail business idea which I believe could be a success, however I'd like to conduct market research within my local communities for feedback.

Does anyone know of any organisations that organise either focus groups or forums to be able to conduct such a survey?

Im happy to stand on the street to ask passers by but wondered if there was a slicker was of doing it!?

Thanks

Jenny

 

[S-Marketing]

See my post (no.3) on this thread.

Market research either needs to be done properly, or not at all. Poor quality research leads to poor quality data, which leads to you losing money.

 

[Munchbox]

Thanks, but this doesnt answer my question!

 

[S-Marketing]

Thanks, but this doesnt answer my question!

Sorry, actually it doesn't does it, oops.

What kind of budget do you have for the research?
Have you already found someone to design the research, or are you looking to have it designed and executed?

 

[webgeek]

The Glasgow chamber of commerce have a services division which does this type of research, compilation and reporting for area businesses. Perhaps you have a similar local chamber?

 

[Munchbox]

Im not sure, Im obviously no expert so Id probably look to hire this expertise, that said, my budget is small so where possible id do what i could to help reduce costs. Ive no idea of basic prices here?

I basically want to ask local people whether they want my idea, i appreciate theres a bit more to it, but thats the end result i need.

 

[S-Marketing]

Im not sure, Im obviously no expert so Id probably look to hire this expertise, that said, my budget is small so where possible id do what i could to help reduce costs. Ive no idea of basic prices here?

I basically want to ask local people whether they want my idea, i appreciate theres a bit more to it, but thats the end result i need.

You can by all means collect the actual data yourself but you would probably need to get the research designed by someone who knows what they are doing to gain meaningful results.

If you have a local University nearby check to see if they do either a Marketing degree or Qualifications of the Chartered Institute of Marketing. If they do the CIM courses they will likely have students that need an actual business for a casestudy for their research units. They will be pleased of the opportunity, and you get free research supervised by a University lecturer (they are usually pretty good at research as its largely academic).

Failing that, get in touch and ill point you in the right direction.

 

[Marketester]

Hi Jenny,

It is always better to do it via professional or at least someone not too much involve in your business because you are probably the one who knows the most about it and that can pitch it in the best way but you are too much into it and you won't be objective.

Have a look at Marketest if you want to read more about quantitative market research for startups.

It is doable on your own, without hiring some pros but you will need to be extra cautious about the way it is done.
Good luck with your project!

Eric

 

[Marketester]

Hi Jenny,

It is always better to do it via professional or at least someone not too much involve in your business because you are probably the one who knows the most about it and that can pitch it in the best way but you are too much into it and you won't be objective.

Have a look at Marketest if you want to read more about quantitative market research for startups.

It is doable on your own, without hiring some pros but you will need to be extra cautious about the way it is done.
Good luck with your project!

Eric