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Market research looks very easy from the outside but it is not everybody's cup of tea. There are lots of things that can go wrong while conducting marketing research. In this article we will discuss some of these errors how to avoid them in order to get adequate results from your market research. But first of all let us understand why market research is conducted? Only after understanding this important question is it possible to get favorable results. The first reason for conducting a market research is when you know there is a problem and defining the problem is of paramount importance. The second reason is the ability to resolve the problem using various market research techniques. Let us now look at the errors that can creep up while trying to do market research: Refraining from explaining the research problem properly: If the research objective is not defined properly chances are you will be unable to get concrete answers to the questions asked. Since the research objective is ill defined chances are the questions will not match the research objective and so this will make you go through the same process again and again without getting concrete answers. Putting good figures in the research solution does not guarantee a successful research but defining the research problem properly will help you in putting up appropriate questions and get comprehensive results for your research problem. That will help you in getting to the crux of the matter. Assuming incorrect sample size:Sample size is of prime importance when we talk about market research. But if you depend on a selected responses out of total population. For example; you take responses of only 100 people out of population of 5 billion it is very difficult to get accurate results. Moreover; you should also re-group or re-classify subgroups of men and women or older and younger people. This is also very important to get accurate results. Assuming results from the sample results derived: This is the worst form of market research error. Wherein you take results from 100 women and assume that the same results will apply to men as well. Or taking results from 5 men out of entire male population and assuming that the results would be same for all the men. This is incorrect. The other example can be generalizing the results obtained from group of people in 2 hours with people who have never read your survey in their entire life. Trying to furnish information which is not there: It is nowadays a norm to publish something interesting in the research report. But this should not make you dig out something which is not available at all. There are times when researchers try to make small things big by displaying it in that manner. But please note that in the longer duration this will never pay and the false information will be dig out by your clients thereby making you mortified. For more information about Market Research Services send us your requirements at info@hitechos.com
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