Member You
#1 in Business Subscribe Email Print

You are here: Home > Business > Marketing > Ground Truth, and the Importance of Market Research

Tags

  • university
  • communicate
  • small business
  • audience wants
  • really happening

  • Links

  • Do You Have A Carpenter Ant Problem?
  • Innovation Management: Trying Out New Ideas
  • Why It's Important To Know How To Buy Treadmills
  • Member You - Ground Truth, and the Importance of Market Research

    Chemistry is King When it Comes to Interviewing Successfully
    Pornography is "hard to to define," but "I know it when I see it," wrote former Supreme Court Justice Potter Stewart in 1964.Chemistry between two individuals is another gray area that can be equally difficult to explain. In the context of a job interview, how is it you can have two candidates with comparable backgrounds, experience and skill sets: one the client loves while the other they could care less if they ever see again.You
    rnet research, and other information gathering techniques, you can learn the trends in your industry, as well as individual preferences of your potential customers. If you’re in a well-defined industry, like toy manufacturing, you might find that your national professional organization has already conducted
    Management and Setting Your Team Up for the Touch Down Pass
    If you are in management there are huge amounts of information to process and there is also the gut instinct, you have that you know what I am talking about. In football it is knowing instinctively when to weave and dodge when you have the ball and the entire rest of the time want to pummel your butt. All you care about it the goal line and the touch down.Well good for you, but has your team set it self up properly to achieve that goal? H
    I know. I know you’re excited about your new business. I know you have a great idea and when you tell others about it, they think you have a great idea, too. A great idea is the birth of a new small business.

    But as a self-employed small business owner, you can’t afford to take chances on ideas without getting more information about what your entire market audience wants and what they’re willing to pay for it. Talking to 10 or 20 other people isn’t enough. You’ve got to talk to thousands.

    In the military and in NASA, they use a term called “ground truth.” While they can observe things via satellite and other distant monitoring devices, nothing beats getting down on the ground and seeing what’s really happening in real life. Here’s NASA’s explanation of how they use Ground Truth:

    http://asd-www.larc.nasa.gov/SCOOL/groundtruth.html

    So, how can you get ground truth about the viability of your business idea? The answer is market research. Market research is a study of your consumer’s preferences and your competition. Sometimes you’ll hear it called a “feasibility study.”

    Through surveys, literature research, internet research, and other information gathering techniques, you can learn the trends in your industry, as well as individual preferences of your potential customers. If you’re in a well-defined industry, like toy manufacturing, you might find that your national professional organization has already conducted r

    My Clients will Keep Coming Back Surely? Here's How to Encourage Them
    Building Customer Loyalty is always difficult if you find that your clients come one and you never seen them again – you are sadly losing money. It costs far more to obtain a new customer than it does to sell more to your existing customers. The way you do this is to keep in touch and make them feel valued. Some ways of doing this are:  Newsletter: Start up a small newsletter and send this to your current an
    ut getting more information about what your entire market audience wants and what they’re willing to pay for it. Talking to 10 or 20 other people isn’t enough. You’ve got to talk to thousands.

    In the military and in NASA, they use a term called “ground truth.” While they can observe things via satellite and other distant monitoring devices, nothing beats getting down on the ground and seeing what’s really happening in real life. Here’s NASA’s explanation of how they use Ground Truth:

    http://asd-www.larc.nasa.gov/SCOOL/groundtruth.html

    So, how can you get ground truth about the viability of your business idea? The answer is market research. Market research is a study of your consumer’s preferences and your competition. Sometimes you’ll hear it called a “feasibility study.”

    Through surveys, literature research, internet research, and other information gathering techniques, you can learn the trends in your industry, as well as individual preferences of your potential customers. If you’re in a well-defined industry, like toy manufacturing, you might find that your national professional organization has already conducted

    Life Is Full Of Rejection Take Harvard - 22,955 Student Applications To Apply And 20,897 Rejections
    I opened my Friday newspaper and was reminded again that life is full of rejection.Take Harvard University for example. No less than 22,955 eager applicants applied for admission to Harvard this fall and only 2,058, or 9%, were accepted. A whopping 20,897 applicants came up short of admission.Actually, Harvard University calls its undergraduate school Harvard College. Nonetheless, all who were admitted are certainly among the chose
    te and other distant monitoring devices, nothing beats getting down on the ground and seeing what’s really happening in real life. Here’s NASA’s explanation of how they use Ground Truth:

    http://asd-www.larc.nasa.gov/SCOOL/groundtruth.html

    So, how can you get ground truth about the viability of your business idea? The answer is market research. Market research is a study of your consumer’s preferences and your competition. Sometimes you’ll hear it called a “feasibility study.”

    Through surveys, literature research, internet research, and other information gathering techniques, you can learn the trends in your industry, as well as individual preferences of your potential customers. If you’re in a well-defined industry, like toy manufacturing, you might find that your national professional organization has already conducted

    Who Is to Blame for Job Dissatisfaction?
    Many of the stereotypes of companies are true. Companies often hire inexperienced workers for low pay, don’t train them and then wonder why they get poor performance.Companies don’t sufficiently include their employees in the creative idea process or give attention to individual input. They continue to enforce higher production requirements with tighter deadlines – in effect, expecting a “worker bee style” from its employees to keep up
    ruth.html

    So, how can you get ground truth about the viability of your business idea? The answer is market research. Market research is a study of your consumer’s preferences and your competition. Sometimes you’ll hear it called a “feasibility study.”

    Through surveys, literature research, internet research, and other information gathering techniques, you can learn the trends in your industry, as well as individual preferences of your potential customers. If you’re in a well-defined industry, like toy manufacturing, you might find that your national professional organization has already conducted

    People Skills: Eight Essential People Skills
    Being able to communicate effectively with others requires people skills, and here's eight essential ones:1. Understanding people People not only come in all shapes and sizes, but they come with different personality types as well. You may want to brush up on how to communicate with the four main personality types by reading this article. Indeed, dedicated students of communication could do little better than purchase Bem All
    rnet research, and other information gathering techniques, you can learn the trends in your industry, as well as individual preferences of your potential customers. If you’re in a well-defined industry, like toy manufacturing, you might find that your national professional organization has already conducted research studies on behalf of the members of the organization.

    Why is market research necessary? Because we all have different tastes, different ideas about what’s important in our lives, and different ability (or willingness) to pay a particular price for what we want. Often the small business owner thinks they have a great idea for a new product or service, only to discover that people either don’t want that service or product, or they’re not willing to pay the price that the small business needs to set in order to be profitable.

    Sometimes they discover, joyfully, that not only do people want this new product or service, but that these same people can suggest other new products and services that would work well with the new idea, allowing the small business owner to see future growth into new areas. Or maybe they discover through their market research that if they made a small change in their product or service, for instance, making a product with a red cover instead of a blue one, that people would buy it more often.

    Another purpose of market research is to discover what your competition is doing. Say that you want to create a new type of office product and you think your idea is unique. Take a look at

    HTTP = HTML link (for blogs, profiles,phorums):
    <a href="http://www.memberyou.net/article/27815/memberyou-Ground-Truth-and-the-Importance-of-Market-Research.html">Ground Truth, and the Importance of Market Research</a>

    BB link (for phorums):
    [url=http://www.memberyou.net/article/27815/memberyou-Ground-Truth-and-the-Importance-of-Market-Research.html]Ground Truth, and the Importance of Market Research[/url]

    Related Articles:

    Big Political Races Mean Major Profits for Television Companies and Mass Media

    Pros And Cons Of On-Demand Recruiting

    Doing the Right Thing -- Even When Her Job Was At Stake

    Bookmark it: del.icio.us digg.com reddit.com netvouz.com google.com yahoo.com technorati.com furl.net bloglines.com socialdust.com ma.gnolia.com newsvine.com slashdot.org simpy.com shadows.com blinklist.com