Market research | Improve your business in few steps | MBA Topics |Hindi - YouTube

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Some of you know that I have a Digital Marketing company

So many people come to me who don't have marketing strategy clear

who don't know like what to do

They are basically stuck in decision making process like what should we do

whether I should go into this path or not? Whether its my target audience?

How should I do packaging of product? What should be the colour?

How should I test it? So there are 36crore problems like this

All these can be solved through marketing research

So keep watching this video,we will talk about this today

So we will divide this research process into 6 steps

First is Identifying the problem..what do we have to do?

Lets say we are confused with our product

How should we make the taste of the product : sweet,salty,puply or anything?

So what we do is clear our idea

This was first step

Now you have made an idea..now how to di it? how to make the research plan?

With this comes second thing : research plan..you will think from where to gather data

You wont talk in the air like acc to me it should be chocolaty..I am anjoying it

Till the time you dont ask your audience or research on a sample set,how can you say that your product is good?

Or my chocolaty flavour is best?

I should not work on orangy at all...

So this is research pla..so you can do surveys here

You make sample questions,make your audience taste and ask them which one you like..

You take a sample set..lets say you have asked 500 people so these 500 people is known as sample set

So you have taken your sample set as 500

So you will get a basic idea like out of 500,400 are saying chocolate is better

So i should go for chocolaty..so there must be some idea on research

Its not that we take sample set of 6,out of which 2 say this, 3 this..3 is better so we take that..

So take a large sample set..here some people are lazy who search old researches on internet

Like any document research done on this before?

So they see all that hapened and work acc to that

I will advice them..guys your product is different...if you are doing it same.then why will someone take your product?

So if your product is different then you cannot take an old set

So work hard and do some research then only your product will be well developed

Now comes 3rd step where you are collecting data..ther foms that you are getting it filled is the third step

Now 4th step is the form that has been filled,the data being collected..take that into excel sheet

You can take it in a paper but if you take it in excel sheet then you can execute it propely by applying formula

So you took that data and you check how many percent of audience liked which flavour?

So you make a small graph..you get a basic idea like majority people are saying my flavour should be this

With this comes the 5th point : you made this thing final

Like I have to work on chocolate or XYZ flavour

Now comes the final point i.e executing your plan

You have done the research but until you work on it..there is no benefit

Some people are there who researchbut do not execute

They know that they should make chocolate but orangy is cheap so they make orange flavour

They know that market need is chocolate but orange is cheap so they will make orange

So I will advice you to do proper research and work on your findings and take propeer decision

Its not that done with research and do it later..let it happen as it is going

If you want to grow then you have to continuously do research

Your product is developed today..again do research and do improvisations

You will see that big brands improve their product in a regular interval

So they do RnD..at many places feedback forms are get filled..if you are liking it..there are some deficiency or no?

So that thing goes to RnD team,they research and then they work on it

So this can be done by your company too..its very easy acc to me

And some arketing students must be watching that we have to write this in paper

You can score more if you give this example may be

So this video ends here,hope you understood

If you have any problem then ask me in comments

If you have some product and you are thinking how should you go for research...then direct message in facebook..maybe I can be of some help

So bye good night shabba khair khuda hafiz..bye