Common Market Research for Private Sector Companies

Below is a list of ten likely reasons why you or your clients might need to conduct market research. While this list offers some of the more common reasons, it is my no means an exhaustive list. Corona Research specializes in custom research design, and no matter what research question you or your clients may have, Corona can work to find the answer.

10 Common Reasons to Perform Market Research

1. Product testing & development. What do people want in your particular products or services? What do people like/dislike about your current products? How do people use your products or services?
2. Identify target markets. Who wants or needs your products or services? Where are your customers located, and where (geographically or otherwise) can you find more of them?
3. Segmentation Studies. What similar characteristics do your customers share? How many different segments of customers do you have? How are they different in their needs? In the way you reach them?
4. Content Development. What are the selling points that customers will respond to?
5. Identifying testing populations. Where should we conduct research to see if our products will sell well throughout the United States? What is the best way to draw a sample of customers to perform testing with?
6. Testing messages. What is the reaction to particular media (including themes, graphics, labels, etc.)? Are there any hidden messages being conveyed that are counterproductive or even damaging?
7. Impact evaluations (Pre and post campaign). Did attitudes change? Did awareness
   increase?
8. Tracking Studies. How is your market changing over time? How are your customers
   changing? If your customers are leaving, or at threat of leaving, then what is the root cause?
9. Optimizing Resources. What is the best way to spend your budget on this campaign to
   optimize ROI?
10. Return on Investment. Which elements of your marketing have the greatest return? In terms of sales? In terms of awareness or opinion?