How do you conduct market research?
Market research is all about gathering and quantifying facts. There are many tools such as surveys, panels, focus groups, and secondary information. Primary market research is very costly and slow to produce results. Many times the information you need has already been collected by someone else. By far the world’s largest collector and dispenser of market research information is the U.S. government. Other sources are industry associations and trade periodicals. Best of all – the information is free or available for a nominal price. They key is understanding where to look. Pelorus Associates has conducted hundreds of market research investigations and is keenly familiar with public and private data sources. However, the process is much more than data collection. The analyst needs to understand your specific needs and provide both facts and analysis that addresses the issues of most importance to you.