What are the duties of Market Research Analyst?How the market research could be done? Any procedure to follow?

Market Research, particularly in ERP marketing of software industry...

What are the duties of Market Research Analyst?How the market research could be done? Any procedure to follow?
Market Research, is actually a group of activities, defined more by purpose and scope than by a specific methodology or a series of duties.





The basic question behind market research is . . Will they buy ? (The product, service or experience)





In escence, this is the question behind every offer and commercial proposition, the question that fuels the balance of supply and demand in every market. So how do you go about conducting market research . ? That depends on exactly what it is you are proposing, and who's your real target.





Your goal as a market analyst is to look into every variation that motivates the potential customer, and to continue asking subsequent questions until you can construct a final VALUE PROPOSITION and a final MESSAGE.





Rutinely you go through Questions like:





Who will buy, at what price, with what options, in which locations, under what circumnstances will they switch or remain loyal to the buyng experience.





There is no "fool proof" procedure to conduct market analysis because essentally each value proposition is different. Sitll there are a few simple guidelines to keep in mind:





1) Your first step is to determine a break even value (exactly how much you need to sell to stay above board and be profitable) this shall be measured in $$ and in units.





2) Once you know how many units you need to sell you must identify, who you think will be the most probable consumer group. This is simple but depends on what you are selling. It´s totally different to market pet grooming (for which almsot any knowlege on your neighbourhood is enough) than to market a presidential candidate. !





3) Once you link your target volume to a consumer group or target segment then you will know what kind of market research tools you will need. In general, when starting out, smaller and simpler are always better. Focus groups are a good tool for scalable marketing, There is also direct interviews and open surveys.





The best market research comes from experience think if you would buy than probably many others would too. Look at how some of the worlds Marketing ICONS were produced (the STAR WARS concept is a great example of experience marketing)





4) develop a way to measure your progress, as you start collecting information from your target segment identify exactly what you will do, will you change your product design, will you change your sales pitch, your distribution "channel" Than turn the information into SALES.





The biggest mistake un MR is to conduct the research and modify the VALUE PROPOSITION without actually impacting sales. Remember you are marketing for one reason, and that is to GROW your concept and GROW your business. this is first done through SALES. . !
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see the source....


or get back to me i have hell lot on research methods...


message me if u want more ill send through mail....