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Business Market Research 

How to Carry Out Customer Market Research for Your Business


The steps you will take to implement the right business market research procedure for obtaining the correct information in order to make an informed decision regarding the direction of your business:
  1. Focus on the type of market research which will help you make better decisions for your business.

  2. Make a list on what you need to know and whether you need a greater  understanding or just simple numerical results.

  3. Make a decision of how quickly you need to know the information and how accurate it has to be.

  4. Make sure your research has a clear intention in mind, including specifying objectives, deadlines and any other important background information.

  5. You must decide whether you have the necessary expertise to encompass larger business market research projects or if you need to use an agency, or other freelance researcher.

  6. Make full use of information, which you can obtain from internal records, employee feedback, publications and the best of all, the Internet.

  7. Ask your customers who they see as your competition and why they would use you in preference to anyone else.

  8. To gain the most information invest in other surveys, observation and experiments to help back up your decisions.

  9. When doing your market research analysis view your results very carefully and objectively.

  10. Always be prepared to carry out more research if the information you have obtained is insufficient or out of date.

  11. It is important to use your research to make decisions and plan your overall strategy.


Keep regularly updates on your customers preferences and market conditions that may affect your business.

Some important points to note and clarify when carrying out business market research:

  • Always plan your objectives and make doubly sure you clarify what you need to know.

  • How would cutting your costs affect how customers feel towards you?
  • Do not go overboard with spending on your research, look around for more cost effective solutions.

  • Make sure you use your research information to improve your business competitiveness.

  • How do your customers emotions affect how they see you?
  • Always make sure your research is up to date.

  • Never base important decisions on inadequate research.

  • Never ignore research which contradicts your preconceptions.

  • Never rely on old, or out of date research.

  • How can you change your customers attitude so they want to trade with you?
  • How can you improve your customers loyalty?

  • What would you say are the overall feelings and subconscious reactions that drive and degrade the value of your business?


Ask yourself, how would you define customer loyalty? Their staying with you is controlled by a number of important facts when doing business market research and customer loyalty research.

  1. How strong is the relationsip with your customer?

  2. Do you treat your customer well?

  3. Do you make sure you offer everything and more than your competitor?

  4. Do you approach customer complaints with the seriousness they deserve?

  5. Do you work to resolve all issues for your customer leaving them satisfied by your efforts?

  6. Do you work to make your customer long term?

Building trust is a long and often tedious procedure, but the efforts to succeed will help to guarantee the future of your business.



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