Market Research Quotes

“In business, its very important to do consistent market research. It's very important to understand your customers and potential customers. The more you understand them, the better you'll be able to add value to their lives, and the more they'll pay for that value.

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― Hendrith Vanlon Smith Jr, The Wealth Reference Guide: An American Classic

“Systematic sampling is like random sampling, except the members are not chosen totally randomly. You can choose members at regular intervals here.”
― Pooja Agnihotri, Market Research Like a Pro

“Exploratory market research is generally preferred in the early stages of a project when you are more interested in exploring a subject.”
― Pooja Agnihotri, Market Research Like a Pro

“When you want to learn something in detail, you do descriptive research.”
― Pooja Agnihotri, Market Research Like a Pro

“Quantitative market research deals with collecting and analyzing numerical data to describe or predict the variables of your interest.”
― Pooja Agnihotri, Market Research Like a Pro

“Qualitative research is about collecting and understanding non-numerical data. It’s about how humans think, perceive, or give meaning to a thing based on various stimuli.”
― Pooja Agnihotri, Market Research Like a Pro

“Before you start your research, you need to know where to look for that data.”
― Pooja Agnihotri, Market Research Like a Pro

“Internal sources of information are those sources that you can find within your own organization.”
― Pooja Agnihotri, Market Research Like a Pro

“Sometimes, when we need detailed information to solve a business problem, we need to gather data from external sources.”
― Pooja Agnihotri, Market Research Like a Pro

“Whenever we collect data from the original source ourselves, the data gained in the process is known as the primary data.”
― Pooja Agnihotri, Market Research Like a Pro

“Census surveys are used by the government to collect information about the residents of a country”
― Pooja Agnihotri, Market Research Like a Pro

“When you want to study a larger group of people, surveys become a good option.”
― Pooja Agnihotri, Market Research Like a Pro

“In the digital world, we have gained access to various online survey tools. Online surveys are replacing the old form of pen and paper surveys because of their ease and convenience.”
― Pooja Agnihotri, Market Research Like a Pro

“A good survey design is very important for the success of your project. Make sure that you include a mix of open-ended as well as closed questions in it.”
― Pooja Agnihotri, Market Research Like a Pro

“Focus groups for business projects are kind of the same. In this, you are going to collect data from a group of your customers or potential customers rather than your friends.”
― Pooja Agnihotri, Market Research Like a Pro

“Interviews are a qualitative form of collecting data. The reason it generates good responses is because it’s way more personal than other forms of data gathering techniques.”
― Pooja Agnihotri, Market Research Like a Pro

“Many research organizations are regularly studying the market and publishing their results in the form of various reports and case studies. You can study these reports to get an understanding of your issue.”
― Pooja Agnihotri, Market Research Like a Pro

“Government organizations are also regularly sharing a lot of data, which can be used for market research.”
― Pooja Agnihotri, Market Research Like a Pro

“Business magazines and newspapers are very frequently publishing data that can prove very useful for market research. You can access the physical or the online versions of these reports.”
― Pooja Agnihotri, Market Research Like a Pro

“All the data you have collected is of no use if you don’t know how to gain insights from it, how to make profitable decisions with the help of this, and how to put your data into action.”
― Pooja Agnihotri, Market Research Like a Pro

“Refining a data set implies getting rid of unnecessary, duplicate, or misleading data. If you don't do that, you can see results that are not actually true, thus hurting your decision-making.”
― Pooja Agnihotri, Market Research Like a Pro

“Once you have analyzed data, you have to mine that data to find insights from it. At this point, you can involve your marketing or product team to work with the data analysis team.”
― Pooja Agnihotri, Market Research Like a Pro

“Your market research project is of no use if you are not going to use the results of it in your decision-making process.”
― Pooja Agnihotri, Market Research Like a Pro

“The best way to improve your decision-making and decrease your business risk is to use data to guide your decisions.”
― Pooja Agnihotri, Market Research Like a Pro

“The truth is that every business answer that you’re looking for is out there—covered and surrounded by many layers of unnecessary data.”
― Pooja Agnihotri, Market Research Like a Pro

“The world’s most deadly fluff is: “I would definitely buy that.” It just sounds so concrete. As a founder, you desperately want to believe it’s money in the bank. But folks are wildly optimistic about what they would do in the future. They’re always more positive, excited, and willing to pay in the imagined future than they are once it arrives.”
― Rob Fitzpatrick, The Mom Test: How to talk to customers & learn if your business is a good idea when everyone is lying to you

“Did Alexander Graham Bell do any market research before he invented the telephone?”
― Steve Jobs

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