Why Are We Here?

Large companies have entire Market Intelligence Departments, full of people who keep their ear to the ground, watching the competition, looking for new trends and developing disruptive technologies, conducting market research to stay abreast of evolving customer needs and testing new product ideas to see what's likely to play out, and what's likely to flop. Smaller companies have fewer resources to keep track of the competitive environment and changing customer needs, putting them at a significant disadvantage.

We believe that even smaller companies, with some basic information, sound advice and just a little bit of self discipline can not only keep up with the larger companies, but can in many cases outflank them (as they have been doing for the last twenty years as employment numbers among smaller companies have proven).

We believe that smaller, more agile companies, are the future of business in many industries and we'll provide you with the information that will increase your chances of beating the Goliaths of your market.

What is Market Research 101?

We created this website to make market research easier to understand. We are not here to sell you research, we are here to de-mystify it. The sheer number of market research methods, off-the-shelf reports, and specialized vendor's approaches can seem overwhelming, especially to someone new to the field or someone who only needs to know enough about market research to find the right information to manage the project yourself. MarketResearch101.com is designed as a go-to resource for common-sense, non-technical, explanations, examples and definitions.

Market Research - What is it?

Market Research is an objective way to understand and dissect the needs and expectations of your target market on different topics relating to you business, product or services. Market research discovers and documents what customers in the real world believe, need, and want, which is a far better approach than guessing, making assumptions, or making business decisions based on what your racquetball-buddy thinks would sell best.

Market Research - Making Better Business Decisions

• When it comes to understanding what a typical customer values and why they value it, market research can be an invaluable tool for making better business decisions. Market Research, conducted properly, is like a window into the attitudes and preferences of the target market.
• Market research is all about increasing your understanding of the market and your awareness of the primary motivations and frustrations of your customers. As I have learned over my dozen years of conducting market research for Hewlett-Packard, understanding your target audience just a little bit better than the competition can mark the difference between being a market leader (by the way, Hewlett-Packard has sold more printers than ALL of their competitors combined!) and a second tier vendor.

Knowledge is Power!

Market research can provide your company with critical knowledge such as:

1. Understanding if customers would be interested in the product concept that your engineers have been working on, and how they would use it.
2. How satisfied your customers are with your products and why. Are they aware of the competitors' offerings and why have they decided against them and to stay with your products.
3. Are the customers who purchase your competitors' products significantly different than the customers who choose to purchase your company's products, and how they differ.
4. Are there untapped pain-points for consumers that your company could either adapt a solution for, in one of your existing products, or for which you could develop a new product.

Market Research - Fundamentals