Last Updated on December 22, 2021 by Jayprakash Prajapati
We will tell you about the Market Research Information Checklist. Market Research Checklist Required: This checklist applies to every practitioner. Everything is tested. If you are a businessman, you will know. (But every business knows that we should also make a checklist of every department.) Whatever this checklist is, it makes it easy to formulate a business strategy.
The 58 Point Content Marketing Checklist
Checklist for Industry
- Associations related to the industry
- Size of industry
- Growth potential
- Historical trends (growth/decline)
- Seasonal or economic trends
- Other related industries
- Distribution channels
- Opportunities indicated
- Threats indicated
- Opportunities to Differentiate
Checklist for Market
- Businesses (B2B) or consumers (B2C) or
- Both it (Negative and Positive)
- Total number of potential buyers
- Segments-groups with similar attributes
- The segment with the greatest need, demand
- Market trends-political, social, environmental
Checklist for Customer Profile – Consumers by segment
- Size of group
- Predominant gender
- Education level
- Income level
- The average amount of debt
- Homeowner or renter
- Car owner
- Marital status- Family status – of children or not
- Pets – Type and number
- Media activity – magazines, newspapers,
- Social media, television, radio, smartphone, Other
- Purchase preferences – in person, internet, Phone, catalog, other
- Product and/or service characteristics most Highly valued by the purchaser
- Payment preference – cash, credit
- Frequency of purchase
- Quantity of product/service purchased attach Purchase
- Average dollars spent annually on this type of Purchase
- Customer preferences and perceptions (quality, Convenience, brand and image, exclusiveness, Mass appeal.
Checklist for Customer Profile – Businesses by segment
- Industries, markets, or segments
- Products or services
- Number of employees
- Length of time in business
- Geography, location
- Purchasing patterns – how much, how often
- Purchasing process Outsourcing
- Local, national, or international purchaser
- Economic factors that influence the market
- Government policies that influence the market
Checklist for Competition
- Direct competitors
- Indirect competitors
- Potential future competitors
- Annual sales and revenue
- Marketing and advertising methods and results
- Geography, location
- Distribution channels
- Sources for production, services, inventory, other
Checklist for Competition Comparison
Other – Apart from these, you can make checklists related to your business, due to which you can annalist your business easily.
Go to the competition and “shop”: Observe your nearest competitors from the perspective of your business. So that you can take action on that thing easily. And what does the customer mean for the customers related to buying this product or service, so that you can understand the behavior of the consumer?
You can compare their business model to you and you have to work hard to overcome them; Weak points that can be a beneficial opportunity for you.
Talk to successful business owners: Find a mentor yourself, if you can, with someone who is the boss. and successful businesses such as the one you want to start, preferably someone who will not be direct. Neither is its competitor and out of the geography of your desired service area.
Researched or Paid Research: You know that there are many companies, which conduct market research for a fee. And can be easily found through the Internet. And keep in mind that high-quality research costs a lot.
The good news is that if you can get all your information you can get it for free. Time and effort. There is a lot of information available. But it is scattered among various resources, So just make sure the source is valid, whether paid or free!
College or University Marketing Students: You might know that some schools offer business courses. Thereby marketing is looking for “real world” projects. Which includes their students. Identify the professors teaching those courses in schools near you and contact them directly, or ask yourself.
Becoming a good market researcher is a valuable business skill:
for you. And that market research is the basis for evaluating potential opportunities and ever-changing factors. Which is your business – from time to time and as you continue on your business journey.
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