THE 5 MOST COMMON ERRORS
Conducting a market survey is a systematic process of collecting and analysing data and information about customers, competitors and the market. The study aims to discover the characteristics, consumption habits, location and needs of the target market, the industry in general and competitors.
A market survey is an investigation to analyze the commercial and economic viability of an idea, a business project, a product or a service.
What is market research for?
In today’s more competitive, digital and changing society than ever before, market research is very important as it helps us to know at all times how our customers and competitors are evolving. In this way it helps us in making decisions about our business plan and thus create a marketing strategy suitable for our target audience.
- Identify business opportunities.
- Know the profile and business
- Behavior of your target customer.
- Know your competition well.
- Identify possible elements of risk.
Unfortunately, if the study is not carried out correctly the information gathered in our market analysis will not be of much use. These are the most common mistakes you should avoid when conducting a market survey.
- Not knowing the feasibility of the market study.
- Choosing an inaccurate target.
- Not choosing well the tools to do the market survey by surveys.
- Not determining the specific objective of the study.
- Not knowing the reliability of the sources.
Preparing a market study is a process that requires a lot of effort, so it is not free of errors. However, these can be avoided by using appropriate tools such as eAlice software.
Improve your company’s positioning by conducting market surveys with eAlicia and make your customers become fans of your brand!
