market research dan feasibility study market research adalah

Market Research: Pengertian, Metode, dan Tahapan Melakukannya

oleh Cinthya | Sep 2, 2022

Sebelum meluncurkan produk baru, penting bagi bisnis untuk melakukan market research atau riset pasar. Hal ini ditujukan untuk memastikan bahwa produk dapat diterima dengan baik di pasaran. Dengan begitu, penjualan diharapkan dapat meningkat dan keberlangsungan bisnis menjadi lebih baik.

Riset pasar biasanya dilakukan melalui beberapa tahapan, mulai dari perumusan masalah, melakukan penelitian, mengumpulkan data, hingga menginterpretasi hasil dari riset. Semua tahapan ini memiliki fungsi masing-masing yang ditujukan agar riset pasar berjalan dengan efektif.

Untuk lebih lengkapnya, berikut artikel yang menjelaskan mengenai apa itu market research , beserta metode, fungsi, dan tahapan melakukannya.

Apa Itu Market Research?

Berdasarkan laman Investopedia , riset pasar atau market research adalah kegiatan mengumpulkan data yang berkaitan dengan target pasar atau konsumen. Kegiatan ini bisa dilakukan langsung oleh perusahaan atau lembaga yang memiliki keahlian dalam melakukan riset. Prosesnya biasanya berupa penyebaran survei, interaksi dengan sekelompok orang sebagai sampel, hingga wawancara.

Tujuan utama dari dilakukannya riset pasar adalah untuk mengetahui pasar yang berhubungan dengan produk atau layanan tertentu, serta mengetahui reaksi konsumen. Data yang diperoleh dari riset pasar akan disusun dan disesuaikan dengan aktivitas pemasaran, serta untuk menentukan prioritas dan persyaratan layanan dari konsumen jika memang ada. Dengan begitu, perusahaan bisa meminimalisir resiko kegagalan dan lebih yakin dalam hal pengambilan keputusan.

Baca juga: Market Size: Indikator Terbaik Untuk Mengetahui Potensi Keberhasilan Bisnis

Metode Market Research

Jenis atau metode dari market research dapat dibedakan menjadi dua, yakni riset pasar primer dan riset pasar sekunder.

1. Riset Pasar Primer

Market research primer adalah riset pasar yang dilakukan sendiri oleh perusahaan atau dengan mempekerjakan pihak ketiga yang secara langsung melakukan penelitian di bawah perusahaan. Riset primer ini berperan penting dalam memberikan data langsung dari konsumen yang menggunakan produk yang tengah disurvei.

Data yang dikumpulkan bisa berupa data kualitatif (non numerik) dan data kuantitatif (numerik dan statistik). Di mana biasanya data ini didapatkan melalui wawancara telepon atau tatap muka, survei, kuesioner, kunjungan lokasi, hingga diskusi kelompok.

Biasanya, di dalam riset, akan ada pertanyaan spesifik seperti usia, pendapatan, gaya hidup, pekerjaan, dan pengalaman dalam menggunakan produk. Intinya, pertanyaan-pertanyaan yang diajukan ditujukan untuk memudahkan analisa hasil riset.

2. Riset Pasar Sekunder

Riset pasar sekunder dilakukan dengan menggunakan informasi yang bersumber dari luar perusahaan, misalnya studi yang dilakukan oleh lembaga pemerintah, asosiasi perdagangan, organisasi internasional dan nasional, hingga perusahaan lain dalam industri yang sama.

Selain itu, bisa juga didapat dari koran, majalah, atau buku. Di mana riset ini memang biasanya dilakukan dengan membaca artikel, riset tren, hingga statistik pasar.

Baca juga: User Research: Pengertian, Kelebihan, Kekurangan dan Cara Melakukannya

Fungsi Riset Pasar

Setidaknya, riset pasar memiliki empat fungsi dalam penerapannya, yakni evaluating, understanding, predicting, dan controlling.

1. Evaluating

Untuk fungsi yang pertama, market research berperan mengevaluasi program-program pemasaran yang telah dilakukan sebelumnya. Evaluasi ini termasuk ketika perusahaan ingin melakukan review pada brand positioning terhadap produk kompetitor.

Dalam proses evaluasi tersebut, market researcher akan melakukan pemecahan masalah terhadap hasil review . Nantinya, hal ini dapat membantu bisnis untuk memahami titik-titik permasalahan yang membuat bisnis tidak berjalan dengan semestinya.

2. Understanding

Fungsi riset ini berfokus pada tujuan untuk memahami konsumen sebagai salah satu insight atau masukan bagi perusahaan. Pasalnya, dengan memahami konsumen, perusahaan dapat lebih mengetahui kebutuhan dan keluhan konsumen. Dalam menjalankan fungsi ini, riset pasar juga biasanya akan menggambarkan kebiasaan dan perilaku konsumen, serta harapan dan keluhan konsumen terhadap suatu produk.

3. Predicting

Prediciting merupakan fungsi yang paling rumit dibandingkan fungsi lainnya. Fungsi ini berperan sebagai acuan bagi perusahaan yang ingin membuka brand atau produk baru untuk dapat membidik dengan tepat target pasar baru.

4. Controlling

Fungsi controlling digunakan untuk melihat setiap proses bisnis yang sedang berjalan. Biasanya, fungsi riset ini digunakan untuk melihat data aktivitas pemasaran yang sedang berjalan. Data tersebut dapat berupa produk di mata konsumen, demografi, tren pasar, hingga efektivitas marketing tools.

Baca juga: Market Share : Pengertian, Tujuan, dan Jenisnya

Tahapan Melakukan Riset Pasar

Agar riset pasar dapat berjalan secara efektif, Anda perlu melalui beberapa tahapan seperti di bawah ini.

1. Menentukan Tujuan Bisnis dan Mengidentifikasi Masalah

Efektivitas market research bisa sangat bergantung pada identifikasi masalah dan tujuan bisnis Anda. Sebab, ketika Anda salah mengidentifikasi masalah yang ada di perusahaan, maka semua informasi yang dikumpulkan tidak akan ada artinya. Sehingga, langkah pertama ini sangat penting dan tidak boleh dilewatkan.

2. Memilih Metode yang Tepat

Selanjutnya, pilihlah metode yang paling sesuai dengan kebutuhan bisnis Anda, entah itu survei, observasi, riset lapangan, wawancara kelompok, ataupun dengan menggunakan informasi yang bersumber dari luar perusahaan. Pilihlah pula metode yang memberikan hasil tercepat dan akurat. Dengan begitu, Anda bisa melakukan efisiensi terhadap pengeluaran atau total biaya untuk riset.

3. Merancang Kuesioner Riset Pasar

Setiap metode riset pasar memerlukan persiapan yang berbeda-beda. Namun, secara umum, Anda tetap perlu melakukan perencanaan, menyusun kuesioner riset pasar, dan merancang proses riset yang menyeluruh untuk memperoleh informasi yang berkualitas.

4. Mengumpulkan Informasi

Langkah yang keempat adalah mengumpulkan informasi. Untuk bisa melakukan ini, Anda perlu mendekati subjek untuk menggali informasi, mulai dari survei pasar, wawancara, observasi, hingga tes. Selama proses ini, Anda wajib mencatat tanggapan dan perilaku subjek.

5. Menilai Situasi Pasar dan Mengidentifikasi Tren

Langkah ini mengharuskan semua orang yang terlibat di perusahaan untuk mempertimbangkan apakah hasil riset telah berhasil memecahkan masalah atau tidak. Apabila iya, hasil tersebut akan diterapkan untuk mengembangkan strategi pemasaran selanjutnya.

Anda juga harus menyesuaikan strategi tersebut dengan tren yang sedang berkembang saat ini. Sebab, seiring dengan perkembangan teknologi, mayoritas orang mengalami kecenderungan takut ketinggalan atau FOMO ( fear of missing out ). Sehingga, menyesuaikan strategi bisnis dengan tren dapat membawa dampak baik dalam kesuksesan riset pasar.

Baca juga: 10 Strategi Pemasaran, Pengertian, Fungsi, Contoh dan Elemen dalam Pemasaran

Berdasarkan penjelasan di atas, dapat dipahami bahwa market research adalah salah satu proses penting dalam mendapatkan data mengenai target pasar atau konsumen. Tujuannya adalah agar bisnis bisa mengambil langkah yang tepat, apakah ingin pindah ke pasar baru, meluncurkan produk atau layanan baru, atau justru memperluas bisnis.

Riset pasar juga akan membantu bisnis dalam meminimalisir resiko kerugian dan mengefisiensi biaya pengeluaran. Pasalnya, pengeluaran sekecil apa pun dapat berdampak besar bagi keberlangsungan bisnis. Karena itu, penting bagi bisnis untuk menerapkan metode pengelolaan keuangan yang tepat agar bisa terhindar dari kegagalan finansial. Dalam hal ini, bisnis bisa menggunakan aplikasi bisnis dari Accurate Online.

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Feasibility Study: Pengertian, Jenis, Tahapan, Manfaat, dan Contohnya

October 12, 2023

Dalam setiap proyek atau investasi, pengambilan keputusan yang tepat menjadi kunci dari kesuksesan. Salah satu alat penting yang dapat membimbing pengambilan keputusan ini adalah feasibility study , alat ini dapat menganalisis proses secara komprehensif dan dapat membantu dalam mengevaluasi apakah suatu proyek atau investasi layak untuk dilaksanakan.

Feasibility study ini mengintegrasikan berbagai aspek termasuk teknis, ekonomis, keuangan, operasional, dan sosial untuk memberikan gambaran menyeluruh tentang kelayakan suatu gagasan. Dalam artikel ini akan dijelaskan terkait pentingnya feasibility study dalam pengambilan keputusan bisnis.

Pengertian Feasibility Study

Feasibility Study adalah evaluasi komprehensif yang dilakukan untuk menentukan kepraktisan dan kelayakan suatu proyek atau bisnis. Studi ini mencakup analisis aspek finansial, teknis, operasional, hukum, dan faktor-faktor lainnya untuk menilai apakah proyek tersebut layak dan dapat dijalankan dengan sukses.

Proses analisis ini dilakukan secara menyeluruh, mulai dari analisis kebutuhan, pasar, teknis, finansial, regulasi, sumber daya manusia, maupun analisis resiko, dan melakukan penilaian terhadap lingkungan. Hal ini bertujuan untuk menilai apakah suatu proyek atau usaha dapat dilaksanakan secara efektif dan efisien.

Kajian kelayakan sangat penting dalam berbagai proyek dan investasi karena memberikan pemahaman yang komprehensif tentang apakah proyek atau investasi tersebut layak dan berpotensi sukses sebelum menghabiskan sumber daya yang besar.

Hasil dari kajian kelayakan ini dapat membantu mengurangi risiko kegagalan, meningkatkan efisiensi penggunaan sumber daya, membantu para pemangku kepentingan dalam mengambil keputusan tentang kelanjutan proyek atau usaha, dan memastikan bahwa proyek atau investasi memiliki potensi untuk sukses jangka panjang.

Baca juga : Pengertian dan Pentingnya Sistem Manajemen dalam Bisnis

Jenis-Jenis Feasibility Study

Kajian kelayakan meliputi beberapa jenis evaluasi untuk memeriksa berbagai aspek suatu proyek atau investasi. Berikut adalah penjelasan mengenai berbagai jenis kajian kelayakan:

Kajian Kelayakan Teknis ( Technical Feasibility Study ): kajian ini fokus pada evaluasi teknologi dan infrastruktur yang dibutuhkan untuk mewujudkan proyek atau investasi. Hal ini mencangkup ketersediaan teknologi, kemampuan teknis, dan kecocokan dengan kebutuhan proyek. Kajian kelayakan ini bertujuan untuk memastikan proyek atau investasi dapat direalisasikan dari segi teknis, termasuk penggunaan teknologi yang diperlukan dapat diakses dengan baik.
Kajian Kelayakan Ekonomis ( Economic Feasibility Study ): kajian ini fokus melakukan penilaian kelayakan proyek atau investasi dari segi ekonomi, seperti analisis biaya dan manfaat untuk menentukan apakah proyek atau investasi akan menghasilkan keuntungan yang memadai.
Kajian Kelayakan Keuangan ( Financial Feasibility Study ): kajian ini fokus pada aspek keuangan proyek atau investasi, termasuk estimasi biaya, penghasilan yang diharapkan, tingkat pengembalian, dan arus kas. Ini membantu menilai apakah proyek atau investasi dapat mendukung dirinya sendiri secara finansial.
Kajian Kelayakan Operasional ( Operational Feasibility Study : kajian ini dapat memeriksa apakah proyek atau investasi dapat dijalankan dengan efektif dalam jangka panjang. Hal ini mencakup analisis terhadap operasional, manajemen, dan sistem yang diperlukan untuk menjalankan proyek.
Kajian Kelayakan Sosial ( Social Feasibility Study ): kajian ini fokus terhadap penilaian dampak sosial dan budaya yang mungkin dihasilkan oleh proyek atau investasi pada masyarakat, termasuk manfaat dan risiko sosial yang terkait.

Kombinasi dan pemahaman mendalam dari berbagai jenis kajian kelayakan ini membantu para pemangku kepentingan dalam membuat keputusan yang lebih baik dan menyeluruh terkait dengan implementasi proyek atau investasi.

Langkah-Langkah dalam Melakukan Feasibility Study

Tahapan-tahapan utama dalam menjalankan kajian kelayakan meliputi beberapa langkah penting, dimulai dari perencanaan hingga analisis hasil. Berikut adalah rincian tahapan-tahapan tersebut:

Perencanaan Kajian Kelayakan ( Feasibility Study Planning ): mulai dari menentukan tujuan dan ruang lingkup kajian kelayakan, mengidentifikasi tim yang akan terlibat dalam kajian dengan peran dan tanggung jawab masing-masing, serta menetapkan batasan proyek dan parameter yang akan dievaluasi.
Studi Pendahuluan ( Preliminary Study ) : lakukan penelitian awal untuk memahami proyek atau investasi yang akan dievaluasi. Kemudian identifikasi dan analisis masalah-masalah potensial yang mungkin dihadapi selama pelaksanaan proyek.
Analisis Kebutuhan dan Identifikasi Solusi Alternatif ( Needs Analysis and Alternative Solutions ): tentukan kebutuhan proyek atau investasi dengan mengidentifikasi berbagai solusi alternatif yang dapat memenuhi kebutuhan proyek dan evaluasi kelebihan serta kekurangan dari masing-masing solusi alternatif.
Kajian Kelayakan Teknis ( Technical Feasibility Study ): kemudian evaluasi teknologi yang akan digunakan beserta infrastruktur yang dibutuhkan. Tentukan apakah teknologi dan infrastruktur yang diperlukan tersedia atau dapat diakses.
Kajian Kelayakan Ekonomis ( Economic Feasibility Study ) : hitung biaya investasi, biaya operasional, dan perkiraan penghasilan dari proyek atau investasi. Kemudian hitung tingkat pengembalian investasi (ROI) dan nilai sekarang bersih (NPV).
Kajian Kelayakan Keuangan ( Financial Feasibility Study ): Lakukan analisis biaya dan manfaat untuk menilai kelayakan keuangan proyek atau investasi, serta tinjau arus kas dan proyeksi keuangan.
Kajian Kelayakan Operasional ( Operational Feasibility Study ): dengan mengidentifikasi proses operasional yang diperlukan untuk menjalankan proyek atau investasi.Tinjau sistem manajemen dan struktur organisasi yang diperlukan.
Kajian Kelayakan Sosial ( Social Feasibility Study ): Tinjau dampak sosial yang mungkin terjadi akibat proyek atau investasi terhadap masyarakat dengan mengevaluasi manfaat dan risiko sosial yang terkait dengan proyek atau investasi.
Penyusunan Laporan Kajian Kelayakan ( Feasibility Study Report ): Gabungkan semua temuan dan hasil evaluasi ke dalam laporan kajian kelayakan yang komprehensif dan sajikan rekomendasi serta kesimpulan berdasarkan hasil analisis.
Analisis dan Keputusan Akhir ( Analysis and Final Decision ): Diskusikan hasil laporan kajian kelayakan dengan para pemangku kepentingan terkait. Evaluasi rekomendasi dan kesimpulan serta ambil keputusan akhir apakah proyek atau investasi dapat dilanjutkan atau tidak.

Manfaat dan Keuntungan Feasibility Study

Feasibility Study memiliki sejumlah manfaat dan keuntungan penting yang memberikan nilai tambah signifikan dalam perencanaan dan pelaksanaan proyek atau investasi. Pertama, dapat membantu para pemangku kepentingan dalam membuat keputusan yang lebih baik dan informasional terkait dengan melanjutkan atau menghentikan proyek atau investasi.

Feasibility study dapat mengidentifikasi dini risiko-risiko potensial dan kendala yang mungkin terjadi selama implementasi proyek, memungkinkan upaya pencegahan dan mitigasi yang sesuai. Sehingga dapat mengoptimalkan penggunaan sumber daya, menghindari pemborosan, meminimalkan resiko kegagalan, dan dapat merencanakan bisnis secara kuat.

Selain itu, feasibility study ini juga dapat meningkatkan kredibilitas proyek atau investasi di mata pemangku kepentingan dengan menyediakan analisis yang transparan dan objektif. Dengan penilaian menyeluruh dari berbagai aspek, meningkatkan peluang proyek atau investasi untuk berhasil dalam jangka panjang.

Baca juga : Apa itu Corporate Plan Development?

Contoh-contoh Feasibility Study

Ilustrasi kajian kelayakan pada berbagai kasus nyata dapat kita lihat dari Investasi Bisnis dalam Pendirian Cafe Kekinian. Pertama dilakukan perencanaan untuk membuka cafe modern di pusat kota dan siapkan tim yang terdiri dari pemilik, manajer, dan ahli kuliner.

Kemudian lakukan riset pasar dan analisis pesaing untuk memahami permintaan pasar dan tren kafe. Lakukan kajian kelayakan ekonomis dengan menghitung biaya awal untuk dekorasi, peralatan, dan persediaan, serta memproyeksikan pendapatan dan keuntungan berdasarkan analisis harga dan biaya operasional.

Selain itu, lakukan kajian terhadap kelayakan sosial dengan menilai potensi kontribusi kafe terhadap komunitas setempat dan dampaknya terhadap lingkungan sekitar. Buat laporan kajian kelayakan dengan menyajikan hasil kajian dengan rekomendasi untuk melanjutkan atau membatalkan pendirian kafe.

Tantangan dan Hambatan

Melakukan kajian kelayakan bisa menghadapi beberapa tantangan yang memerlukan pemecahan masalah yang tepat. Berikut adalah beberapa tantangan yang umum dihadapi dan cara mengatasinya:

Keterbatasan Data dan Informasi: lakukan riset secara menyeluruh dengan memanfaatkan berbagai sumber informasi, dan jika diperlukan, lakukan survei atau wawancara untuk mengumpulkan data yang lebih baik.
Perubahan Kondisi Pasar atau Teknologi: lakukan pembaruan secara berkala terhadap kajian kelayakan untuk memperhitungkan perubahan terbaru dan memastikan rencana tetap relevan.
Kompleksitas dan Ruang Lingkup yang Kabur: tentukan batasan yang jelas untuk proyek, definisikan ruang lingkup secara rinci, dan identifikasi secara jelas parameter yang akan dievaluasi.
Estimasi Biaya yang Tidak Akurat: lakukan analisis biaya yang lebih mendalam, konsultasikan dengan ahli industri menggunakan metode estimasi biaya yang terpercaya.
Evaluasi Risiko yang Tidak Memadai: lakukan analisis risiko yang komprehensif dengan identifikasi, penilaian, dan pengelolaan risiko secara terperinci.
Keengganan untuk Membatalkan Proyek yang Tidak Layak: pastikan untuk bersifat obyektif dan berani dalam mengambil keputusan, prioritaskan kelayakan proyek, dan jika diperlukan, terapkan perubahan strategis untuk memitigasi risiko.
Perbedaan Pendapat dan Preferensi Pemangku Kepentingan: pastikan untuk selalu terlibat dengan pemangku kepentingan, komunikasikan temuan kajian kelayakan secara transparan, dan upayakan konsensus untuk meminimalisir konflik.
Tekanan Waktu: buat perencanaan yang baik, alokasikan sumber daya yang cukup, dan pastikan manajemen waktu efektif untuk memastikan kajian kelayakan dapat diselesaikan sesuai jadwal yang direncanakan.

Baca juga : Rayakan HUT ke-18 Tahun Proxsis & CO: Berkomitmen Terhadap Planet, People, dan Prosperity

Feasibility study merupakan analisis mendalam yang dapat membantu dalam menilai apakah proyek atau investasi layak untuk dilanjutkan atau tidak. Kajian ini mencakup evaluasi berbagai aspek seperti teknis, ekonomis, keuangan, operasional, dan sosial.

Dalam rangka mencapai kesuksesan proyek atau investasi, kajian kelayakan menjadi langkah awal yang kritis untuk memahami potensi, risiko, dan kebutuhan yang terkait. Hal ini memungkinkan pengambilan keputusan yang lebih baik, membantu mengelola risiko, dan memaksimalkan peluang sukses secara keseluruhan.

market research dan feasibility study market research adalah

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Market Research Adalah: Jenis, Manfaat, dan Caranya

Halo, Teman Belajar! Apakah kamu tertarik untuk belajar tentang market research? Dalam dunia bisnis yang kompetitif saat ini, memahami dan menguasai keterampilan ini dapat menjadi kunci kesuksesan yang luar biasa. Jika kamu ingin menggapai tujuan bisnis yang lebih tinggi, maka kamu perlu melangkah lebih jauh dan mendalami ilmu market research.

Tapi tunggu dulu, apa sebenarnya market research itu? Bagaimana hal ini dapat memberikan manfaat nyata bagi bisnis kamu? Bagaimana cara melakukannya dengan benar? Artikel ini akan mengulas secara komprehensif tentang market research, termasuk definisi, jenis-jenisnya, manfaat yang dapat kamu peroleh, dan tentu saja, cara melakukannya dengan tepat.

Dengan mempelajari market research, kamu akan mendapatkan pemahaman yang lebih baik tentang pasar dan konsumen yang menjadi target bisnis kamu. Kamu akan dapat mengumpulkan data yang relevan, menganalisis tren dan preferensi konsumen, serta membuat keputusan yang lebih cerdas dan berbasis fakta. Selain itu, kamu juga akan memiliki keunggulan kompetitif yang kuat dan mampu mengidentifikasi peluang bisnis baru yang menguntungkan. Untuk itu, yuk simak selengkapnya di sini!

Apa itu Market Research?

Jika kamu tertarik untuk mempelajari dunia bisnis dan ingin meraih kesuksesan, maka kamu perlu mengenal konsep penting yang disebut "Market Research" atau penelitian pasar. Dalam artikel ini, kita akan menjelajahi apa itu Market Research, mengapa hal ini begitu penting, serta langkah-langkah dasar yang dapat kamu ambil untuk memulai.

Market Research adalah proses pengumpulan dan analisis data yang berkaitan dengan konsumen, pesaing, dan pasar secara keseluruhan. Tujuan utamanya adalah untuk memahami preferensi, kebutuhan, dan perilaku konsumen, serta untuk menentukan potensi pasar untuk produk atau layanan tertentu.

Dengan memahami pasar dengan baik, kamu dapat membuat keputusan yang lebih baik dan mengembangkan strategi bisnis yang efektif.

Mengapa Market Research Penting?

Market Research memiliki peran krusial dalam kesuksesan bisnis. Tanpa pemahaman yang mendalam tentang pasar dan konsumen, kamu berisiko menghadapi banyak tantangan dan kesalahan dalam pengembangan produk atau pemasaran. Berikut adalah beberapa alasan mengapa Market Research sangat penting:

Mengetahui Pasar Targetmu

Market research membantu kamu mengidentifikasi dan memahami pasar targetmu. Dengan mempelajari profil demografis, gaya hidup, dan preferensi konsumen potensial, kamu dapat mengarahkan upaya pemasaran dan pengembangan produkmu secara lebih efektif. Misalnya, jika usahamu bergerak di bidang fashion, market research dapat membantumu mengetahui tren terbaru, preferensi warna, dan gaya yang sedang diminati oleh konsumenmu.

Memahami Kebutuhan dan Preferensi Konsumen

Dalam berbisnis, penting untuk memahami apa yang diinginkan dan dibutuhkan oleh konsumen. Market research membantu kamu untuk memperoleh wawasan tentang preferensi, harapan, dan masalah yang dihadapi oleh konsumenmu. Dengan informasi ini, kamu dapat mengembangkan produk yang sesuai dengan kebutuhan mereka dan memberikan nilai tambah yang diinginkan.

Mengenal Persaingan

Market research tidak hanya membantu kamu memahami konsumen, tetapi juga memberikan wawasan tentang pesaing bisnismu. Dengan melakukan analisis pesaing, kamu dapat mengetahui produk atau layanan apa yang mereka tawarkan, bagaimana mereka memasarkannya, dan apa kelebihan dan kelemahan mereka. Informasi ini dapat membantu kamu mengembangkan strategi yang lebih baik untuk membedakan diri dari pesaing dan mengambil keuntungan dari celah pasar yang belum terpenuhi.

Mengurangi Risiko

Melakukan market research juga membantu kamu mengurangi risiko dalam mengambil keputusan bisnis. Dengan memiliki data yang akurat dan terkini, kamu dapat membuat keputusan yang lebih rasional dan berdasarkan fakta, bukan hanya berdasarkan intuisi semata. Misalnya, sebelum memperluas bisnis ke daerah baru, kamu dapat melakukan penelitian pasar untuk memahami apakah ada permintaan yang cukup atau apakah pasar tersebut sudah jenuh.

Menyusun Strategi Pemasaran yang Efektif

Market research merupakan pondasi yang kuat dalam menyusun strategi pemasaran yang efektif. Dengan memahami preferensi dan kebiasaan konsumen, kamu dapat menentukan saluran pemasaran yang tepat, menargetkan audiens yang relevan, dan mengembangkan pesan yang menarik bagi mereka. Dengan strategi pemasaran yang tepat, kamu dapat meningkatkan kesadaran merek, menghasilkan penjualan yang lebih tinggi, dan memperoleh keuntungan yang lebih besar.

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Jenis Market Research

Market research merupakan proses pengumpulan dan analisis data untuk memahami preferensi, perilaku, dan kebutuhan konsumen. Dengan mempelajari jenis-jenis market research ini, kamu akan memiliki dasar yang kuat untuk mengambil keputusan bisnis yang cerdas. Berikut ini beberapa jenis market research yang bisa kamu ketahui:

1. Market Research Deskriptif

Market research deskriptif merupakan jenis penelitian yang bertujuan untuk menggambarkan dan mengidentifikasi karakteristik atau sifat-sifat suatu pasar atau segmen pasar tertentu. Dalam hal ini, data yang dikumpulkan berfokus pada pertanyaan "Apa?", "Bagaimana?", dan "Siapa?". Penelitian ini membantu perusahaan atau individu dalam memahami pasar mereka dengan lebih baik, serta menyediakan informasi yang diperlukan untuk mengembangkan strategi pemasaran yang efektif.

Market research deskriptif bertujuan untuk menggambarkan karakteristik demografis, psikografis, dan perilaku konsumen. Metode yang digunakan meliputi survei, wawancara, dan pengamatan langsung. Hasil dari market research deskriptif ini memberikan pemahaman yang mendalam mengenai preferensi konsumen, faktor yang mempengaruhi keputusan pembelian, dan pola perilaku mereka.

Tak kalah pentingnya, hasil market research deskriptif juga dapat membantu kamu dalam memahami pesaing dan tren pasar yang sedang berlangsung. Dengan pemahaman yang lebih baik tentang pasar, kamu dapat mengoptimalkan strategi pemasaran dan meningkatkan daya saing bisnis kamu.

2. Market Research Eksploratif

Pada dasarnya, market research eksploratif merupakan pendekatan yang digunakan untuk mendapatkan pemahaman yang lebih mendalam tentang pasar atau konsumen tertentu. Metode ini digunakan ketika informasi yang tersedia masih terbatas atau ketika kita ingin menggali lebih dalam untuk menemukan wawasan baru.

Salah satu cara yang umum digunakan dalam market research eksploratif adalah melalui wawancara mendalam dengan konsumen atau pemangku kepentingan terkait. Dalam wawancara ini, kita dapat mengajukan pertanyaan terbuka yang memungkinkan responden untuk memberikan jawaban yang lebih rinci dan mendalam. Hal ini membantu kita untuk memahami kebutuhan, preferensi, dan motivasi di balik perilaku konsumen.

Selain wawancara, observasi langsung juga merupakan salah satu metode yang sering digunakan dalam market research eksploratif. Dengan mengamati perilaku konsumen secara langsung, kita dapat mengidentifikasi pola-pola atau tren yang mungkin tidak terlihat dalam data atau informasi sekunder. Misalnya, dengan mengamati bagaimana konsumen berinteraksi dengan produk atau mengunjungi toko fisik, kita dapat memperoleh wawasan berharga tentang preferensi mereka.

Dalam market research eksploratif, penting untuk mengadopsi pendekatan yang fleksibel dan terbuka terhadap hasil yang tidak terduga. Tujuan utamanya adalah untuk menggali lebih dalam dan menemukan pemahaman baru tentang pasar atau konsumen yang sebelumnya tidak terungkap. Dalam proses ini, analisis data kualitatif sering digunakan untuk mengidentifikasi tema-tema atau pola-pola yang muncul dari wawancara atau observasi.

3. Market Research Kausal

Market research kausal adalah jenis penelitian yang berfokus pada hubungan sebab-akibat antara variabel-variabel tertentu. Dalam hal ini, peneliti mencoba untuk memahami bagaimana perubahan pada satu variabel mempengaruhi perubahan pada variabel lainnya. Tujuannya adalah untuk menentukan apakah ada hubungan kausal antara dua variabel atau lebih. Dengan kata lain, market research kausal mencoba menjawab pertanyaan "Apakah X mempengaruhi Y secara signifikan?"

Ada beberapa metode yang digunakan dalam market research kausal, salah satunya adalah eksperimen. Eksperimen melibatkan pengaturan variabel-variabel tertentu dan mengamati perubahan yang terjadi. Misalnya, sebuah perusahaan dapat mencoba membandingkan dua kelompok konsumen yang diberikan penawaran yang berbeda untuk melihat bagaimana penawaran tersebut mempengaruhi tingkat pembelian. Dengan metode ini, mereka dapat menentukan apakah ada hubungan kausal antara penawaran dan pembelian.

Selain eksperimen, metode lain yang sering digunakan dalam market research kausal adalah analisis regresi. Analisis regresi melibatkan mengidentifikasi hubungan antara variabel-variabel tertentu dan memprediksi dampak perubahan pada satu variabel terhadap variabel lainnya. Misalnya, sebuah perusahaan mungkin ingin mengetahui apakah perubahan harga produk mereka akan mempengaruhi tingkat penjualan. Dengan menggunakan analisis regresi, mereka dapat mengukur sejauh mana perubahan harga berkontribusi terhadap perubahan dalam penjualan.

Manfaat dari market research kausal sangat penting dalam pengembangan strategi bisnis. Dengan memahami hubungan kausal antara variabel-variabel yang relevan, perusahaan dapat membuat keputusan yang lebih informasional dan tepat dalam upaya meningkatkan penjualan, mengoptimalkan kampanye pemasaran, atau mengembangkan produk yang lebih sesuai dengan kebutuhan konsumen.

Namun, perlu diingat bahwa market research kausal memiliki beberapa batasan. Dalam beberapa kasus, sulit untuk mengisolasi variabel-variabel yang ingin diteliti, dan ada banyak faktor eksternal yang dapat mempengaruhi hasil penelitian. Selain itu, eksperimen dalam penelitian kausal sering kali membutuhkan waktu, sumber daya, dan biaya yang signifikan.

4. Market Research Kualitatif

Market research kualitatif merupakan metode penelitian yang bertujuan untuk memahami dan mendapatkan wawasan mendalam tentang persepsi, pendapat, dan motivasi individu atau kelompok terkait produk, layanan, atau topik tertentu. Dalam market research kualitatif, data yang dikumpulkan bersifat deskriptif, subjektif, dan mendalam. Metode penelitian kualitatif ini melibatkan interaksi langsung dengan responden, seperti wawancara mendalam, focus group discussion (FGD), observasi langsung, atau studi kasus.

Salah satu kelebihan utama dari market research kualitatif adalah kemampuannya untuk menggali wawasan yang lebih dalam dan memahami konteks yang lebih luas dibandingkan dengan metode kuantitatif. Metode ini memungkinkan peneliti untuk memahami perasaan, keyakinan, dan persepsi subjektif responden, serta melihat lebih jauh tentang bagaimana mereka berinteraksi dengan produk atau layanan yang diteliti. Selain itu, market research kualitatif juga membantu dalam mengidentifikasi tren, pola perilaku, dan kebutuhan yang mungkin tidak terdeteksi melalui data kuantitatif saja.

5. Market Research Kuantitatif

Market research kuantitatif melibatkan pengumpulan dan analisis data yang terukur dan dapat dijumlahkan. Metode yang sering digunakan adalah survei, kuesioner, dan analisis statistik. Market research kuantitatif memberikan gambaran umum yang lebih luas mengenai preferensi konsumen, skala pasar, dan tren yang sedang berlangsung. Data yang dihasilkan dari market research kuantitatif dapat membantu kamu dalam membuat keputusan bisnis yang lebih rasional.

Dengan menggabungkan beberapa metode market research di atas, kamu dapat membangun gambaran yang lebih komprehensif tentang pasar kamu. Penting untuk diingat bahwa setiap jenis market research memiliki kelebihan dan kelemahan sendiri, jadi kamu bisa memilih metode yang paling sesuai dengan kebutuhan dan sumber daya yang kamu miliki.

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Manfaat Market Research

Jika kamu tertarik dengan dunia bisnis, salah satu keterampilan yang penting untuk dimiliki adalah kemampuan dalam market research atau riset pasar. Market research merupakan proses pengumpulan dan analisis data yang bertujuan untuk memahami kebutuhan, preferensi, dan perilaku konsumen, serta mengidentifikasi peluang dan tantangan di pasar. Berikut ini ada manfaat dari market research yang dapat membantu kamu dalam mengambil keputusan bisnis yang lebih baik:

1. Memahami kebutuhan pelanggan

Market research membantu kamu memahami dengan lebih baik apa yang diinginkan dan dibutuhkan oleh pelanggan. Dengan melakukan survei, wawancara, atau analisis data pasar, kamu dapat mengidentifikasi preferensi pelanggan, masalah yang mereka hadapi, dan harapan mereka terhadap produk atau layanan yang kamu tawarkan. Informasi ini sangat berharga dalam mengembangkan produk yang sesuai dengan kebutuhan pelanggan, sehingga kamu dapat meningkatkan kepuasan pelanggan dan memperoleh keunggulan kompetitif.

2. Mengantisipasi perubahan pasar

Tren pasar terus berubah seiring dengan perkembangan teknologi, gaya hidup, dan preferensi konsumen. Market research membantu kamu mengidentifikasi perubahan-perubahan ini dengan cepat. Dengan memantau tren dan perilaku pasar, kamu dapat mengantisipasi perubahan kebutuhan pelanggan dan mengadaptasi strategi bisnismu secara tepat waktu. Dalam bisnis, memiliki kemampuan untuk beradaptasi adalah kunci kesuksesan jangka panjang.

3. Menentukan segmentasi pasar yang tepat

Dalam memasarkan produk atau layanan, penting untuk mengetahui siapa target pasar yang paling potensial. Market research membantu kamu menentukan segmentasi pasar yang tepat, yaitu membagi pasar menjadi kelompok-kelompok yang memiliki karakteristik, kebutuhan, dan preferensi serupa. Dengan segmentasi yang tepat, kamu dapat mengembangkan strategi pemasaran yang lebih efektif, mengoptimalkan alokasi sumber daya, dan meningkatkan efisiensi promosi.

4. Mengevaluasi kompetitor

Melalui market research, kamu dapat mempelajari pesaing bisnismu dengan lebih mendalam. Kamu dapat menganalisis produk, harga, strategi pemasaran, dan citra merek mereka. Informasi ini memungkinkanmu untuk mengevaluasi keunggulan kompetitifmu dan menemukan peluang baru yang dapat kamu manfaatkan. Dengan memahami persaingan di pasar, kamu dapat mengembangkan strategi yang lebih baik untuk membedakan bisnismu dan menarik perhatian pelanggan.

Ingin menemukan segmen dan target konsumen yang tepat untuk bisnismu? Riset pasar adalah kuncinya! Dengan panduan dari seorang Market Research expert yang berpengalaman, kamu akan memahami pentingnya riset pasar dan cara melakukannya untuk mendapatkan data konsumen yang akurat dan bermanfaat.

Materi yang akan kamu pelajari:

Memahami Definisi Market Research
Tujuan dan Fungsi Market Research
Bentuk Market Research
Penerapan Market Research di Digital Marketing
Bagaimana Melakukan Market Research

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5. Mengoptimalkan pengambilan keputusan

Market research menyediakan data dan informasi yang dapat mendukung pengambilan keputusan bisnis yang lebih cerdas. Kamu dapat mengumpulkan data tentang harga pasar, tren penjualan, tingkat kepuasan pelanggan, dan faktor-faktor lain yang mempengaruhi bisnismu. Dengan memiliki pemahaman yang mendalam tentang pasar, kamu dapat membuat keputusan yang lebih terinformasi dan mengurangi risiko kesalahan.

6. Mendukung pengembangan produk atau layanan baru

Jika kamu sedang merencanakan pengembangan produk atau layanan baru, market research adalah alat yang sangat berharga. Dengan melakukan riset pasar, kamu dapat mengumpulkan masukan langsung dari konsumen potensial mengenai preferensi mereka, fitur yang diinginkan, dan harapan mereka terhadap produk atau layanan yang kamu tawarkan. Hal ini akan membantu kamu dalam mengarahkan pengembanganmu pada hal-hal yang diinginkan oleh pasar, sehingga meningkatkan kesuksesan peluncuran produk atau layanan baru.

7. Mengukur keberhasilan kampanye pemasaran

Market research juga penting dalam mengukur keberhasilan kampanye pemasaran yang telah kamu lakukan. Dengan melibatkan konsumen dalam proses riset pasar, kamu dapat mengumpulkan umpan balik mengenai efektivitas kampanye, memahami tingkat kepuasan konsumen, dan mengetahui area yang perlu diperbaiki.

Data yang diperoleh dari market research dapat membantu kamu dalam mengukur ROI (Return on Investment) dari kampanye pemasaran dan membuat penyesuaian yang diperlukan untuk mencapai hasil yang lebih baik di masa depan.

Jadi, tidak bisa dipungkiri bahwa market research memiliki manfaat yang signifikan bagi kesuksesan bisnismu. Dengan melakukan riset pasar secara teratur dan efektif, kamu dapat memahami pelanggan, mengantisipasi perubahan pasar, menentukan segmentasi yang tepat, mengevaluasi pesaing, dan mengoptimalkan pengambilan keputusan bisnis.

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Cara Memanfaatkan Market Research

Market research akan membantu kamu memahami kebutuhan dan preferensi pelanggan, serta memberikan wawasan berharga tentang kompetitor dan tren pasar. Dengan demikian, kamu dapat membuat keputusan yang lebih baik dan mengembangkan strategi pemasaran yang efektif. Nah, berikut ini adalah beberapa langkah yang dapat kamu ikuti untuk menggunakan market research dengan baik:

Tetapkan Tujuan dan Pertanyaan Penelitian

Langkah pertama yang perlu kamu lakukan adalah menentukan tujuan dari penelitian pasarmu. Apa yang ingin kamu ketahui? Apakah kamu ingin memahami profil pelangganmu yang lebih baik? Atau mungkin kamu ingin mengetahui apakah ada peluang untuk memperluas pasarmu? Setelah menentukan tujuanmu, buatlah daftar pertanyaan yang akan kamu jawab melalui market research.

Pilih Metode Penelitian yang Tepat

Ada beberapa metode penelitian yang dapat kamu gunakan, seperti survei, wawancara, observasi, atau analisis data sekunder. Pilih metode yang paling sesuai dengan tujuanmu dan sumber daya yang kamu miliki. Jika kamu memiliki anggaran terbatas, survei online atau wawancara telepon bisa menjadi pilihan yang baik. Jika kamu memiliki waktu dan anggaran yang lebih besar, kombinasi beberapa metode penelitian mungkin lebih efektif.

Kumpulkan dan Analisis Data

Setelah kamu melakukan penelitianmu, kumpulkan semua data yang kamu dapatkan. Jika kamu melakukan survei, pastikan kamu mendapatkan sampel yang representatif dari populasi targetmu. Setelah data terkumpul, lakukan analisis pasar dengan menggunakan metode yang sesuai, seperti analisis statistik atau pengelompokan data. Analisis ini akan membantu kamu menggali wawasan yang bermanfaat dan menjawab pertanyaan penelitianmu.

Interpretasikan Hasil dan Ambil Tindakan

Setelah analisis selesai, saatnya untuk menginterpretasikan hasilnya. Apa yang dapat kamu simpulkan dari data yang kamu kumpulkan? Apakah ada tren atau pola yang menarik perhatianmu? Berdasarkan hasil penelitianmu, ambil tindakan yang tepat. Mungkin kamu perlu memperbaiki strategi pemasaranmu, mengubah produk atau layananmu, atau bahkan mengevaluasi ulang pasar targetmu. Penting untuk menggunakan hasil penelitianmu sebagai landasan untuk membuat keputusan yang lebih baik.

Pantau dan Evaluasi

Market research bukanlah sekali jalan. Penting untuk terus memantau dan mengevaluasi hasil penelitianmu seiring berjalannya waktu. Pasar terus berubah, dan kamu perlu tetap up-to-date dengan tren dan perubahan yang terjadi. Melakukan penelitian secara berkala akan membantu kamu mengidentifikasi peluang baru dan menjaga bisnismu tetap kompetitif.

Dengan mengikuti langkah-langkah di atas, kamu dapat menggunakan market research sebagai alat yang efektif untuk menginformasikan keputusan bisnismu. Ingatlah, penelitian pasar tidak hanya berguna untuk perusahaan besar, tapi juga penting bagi bisnis skala kecil atau usaha baru.

Ashya Ravika

SEO Writer dengan pengalaman lebih dari 5 tahun yang biasa menulis untuk berbagai macam topik dan gaya bahasa. Memiliki passion di bidang penulisan dan pendidikan.

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Market Research: Pengertian, Tujuan, Jenis, Dan Langkah-Langkahnya

13 Juni 2023

Di zaman yang serba maju dan berkembang ini, pasar global dan lokal sudah tidak sama lagi dengan pasar sepuluh tahun yang lalu. Sekarang, baik pasar global maupun lokal dituntut untuk merubah sistem pemasarannya dari konvensional ke modern. Terlebih lagi, kini target pasar sudah lebih kritis dalam hal pembelian dan penjualan.

Dibanding sepuluh tahun yang lalu, konsumen sekarang lebih mampu untuk meneliti produk atau layanan Anda sebelum membuat keputusan pembelian. Selain itu, daripada berbicara dengan salah satu tim marketing Anda, mereka cenderung meminta rujukan dari relasi mereka atau membaca ulasan online yang banyak ditampilkan di setiap marketplace .

Hal ini menjadi tantangan bagi Anda untuk bisa beradaptasi dengan strategi pemasaran yang baru demi dapat menghadapi konsumen yang saat ini lebih cermat dalam meneliti, berbelanja, dan membeli. Untuk dapat mewujudkan hal itu, Anda harus memiliki pemahaman mendalam tentang siapa pembeli Anda, pasar yang tepat, dan apa saja yang mempengaruhi keputusan pembelian dan perilaku target pasar Anda.

Market research adalah salah satu yang Anda perlukan untuk mempersiapkan strategi pemasaran yang tepat. Lalu, apa dan bagaimana market research itu? Dalam artikel ini Anda dapat menyimak tuntas mengenai hal itu.

Market Research: Pengertian, Tujuan, Jenis, dan Langkah-Langkahnya

Key Takeaways

Sebelum memperkenalkan produk atau layanan baru, perusahaan melakukan market research untuk menentukan daya tariknya bagi pelanggan potensial.
Market research biasanya menggabungkan informasi primer, yang dikumpulkan langsung dari konsumen, dan informasi sekunder, yaitu data yang tersedia dari sumber eksternal.
Untuk mendapatkan hasil market research yang baik, terdapat langkah-langkah riset yang tidak boleh dilewatkan.
Hasil market research menginformasikan desain akhir produk dan menentukan bagaimana produk atau layanan tersebut akan diposisikan di pasar.

Table of Contents

Apa Itu Market Research ?

Dilansir dari AMA , market research atau dalam bahasa Indonesia, riset pasar adalah proses pengumpulan data dan wawasan konsumen secara sistematis, seperti preferensi atau kebutuhan mereka. Setelah diidentifikasi, riset pasar memungkinkan perusahaan untuk menentukan pasar sasarannya dan mendapatkan pendapat serta umpan balik lain dari konsumen tentang minat mereka terhadap suatu produk atau layanan, sehingga dapat membangun pemasaran yang sukses. Selain itu, informasi yang diperoleh dari melakukan riset pasar dapat digunakan untuk menyesuaikan aktivitas periklanan atau menentukan prioritas fitur/persyaratan layanan konsumen.

Dalam pelaksanaannya, dapat dilakukan melalui survei, interaksi dengan sekelompok orang, uji coba produk dan proses serupa lainnya. Riset dapat dilakukan sendiri atau oleh perusahaan pihak ketiga yang berspesialisasi dalam riset pasar.

Market research dapat menjawab berbagai pertanyaan tentang keadaan industri. Karena itu, market research biasa digunakan untuk memverifikasi keberhasilan produk baru, membantu tim marketing untuk memasarkan kembali produk yang sudah ada, dan memahami persepsi merek untuk memastikan tim marketing dapat secara efektif mengkomunikasikan nilai perusahaan Anda secara efektif.

Selain digunakan untuk mengevaluasi kelayakan dan keberhasilan produk, market research juga menjadi alat penting yang digunakan perusahaan sebagai modal awal untuk menciptakan inovasi produk baru. Sehingga, sebuah perusahaan dapat mempertahankan keunggulan kompetitif dibandingkan perusahaan lain di industri mereka.

Tujuan Market Research

Sederhananya, manfaat utama melakukan riset pasar adalah untuk memahami atau memeriksa pasar yang terkait dengan produk atau layanan tertentu untuk memutuskan bagaimana audiens akan bereaksi terhadap suatu produk atau layanan. Kita dapat merangkum manfaat dan keuntungan market research sebagai berikut:

1. Lebih dekat dengan pelanggan

Dengan melakukan market research , Anda dapat lebih dekat dengan pelanggan saat ini dan calon pelanggan. Sehingga Anda bisa lebih mengetahui lebih dalam bagaimana karakteristik, preferensi, harapan, kebutuhan, dan keyakinan pelanggan.

2. Membantu mengidentifikasi peluang pasar baru

Tidak hanya meningkatkan penjualan, namun market research juga dapat memberi Anda petunjuk dan membuka pikiran Anda terhadap ide-ide baru untuk mengembangkan bisnis Anda.

3. Membantu identifikasi potensi masalah

Anda dapat melihat reaksi konsumen terhadap layanan dan produk yang masih dalam tahap pengembangan maupun yang telah berhasil keluar di pasaran. Data yang diperoleh dari Market research dapat memperkirakan kemungkinan-kemungkinan masalah yang akan terjadi, sehingga Anda dapat mempersiapkan langkah yang perlu diperlukan sesuai dengan data yang telah diperoleh.

Sebagai contoh, ketika Anda akan meluncurkan produk baru, pasti ada kemungkinan Anda mendapat untung atau rugi. Keberhasilan akan bergantung pada bagaimana pelanggan Anda menerima produk baru tersebut. Namun, dengan melakukan market research terlebih dahulu Anda dapat meminimalkan risiko produk tersebut tidak laku di pasaran.

4. Mengetahui dan memperkuat posisi perusahaan Anda di pasar

Informasi dari riset pasar memungkinkan Anda mengetahui posisi Anda saat ini dan membantu Anda memantau kemajuan Anda. Anda dapat menggunakan riset pasar untuk mengetahui peringkat tertentu, termasuk bagaimana pelanggan menilai kualitas produk Anda.

Bahkan, market research dapat memberi Anda kesempatan untuk mengenal pesaing dengan baik dan memeriksa kekuatan serta kelemahan mereka. Ini memberi Anda ide tentang cara menawarkan produk dan layanan yang lebih baik.

5. Mengukur reputasi dan kredibilitas Anda

Riset pasar tidak hanya menemukan di mana posisi perusahaan Anda berada sekarang, tetapi juga memungkinkan Anda untuk meningkatkan reputasi Anda di dunia industri serta membuat orang lain lebih percaya pada keputusan Anda.

6. Up to date terhadap tren

Bisnis Anda akan mengetahui dan terus belajar tentang perubahan kebutuhan dan keinginan konsumen Anda, upaya pesaing Anda, hingga teknologi apa yang akan datang.

Baca juga: Perluas Customer Insights demi Perkembangan Bisnis yang Pesat

Jenis-Jenis Market Research

Terdapat dua jenis market research , yaitu primary market research atau riset pasar primer, dan secondary market research atau riset pasar sekunder. Secara singkat, riset pasar primer merupakan riset pasar yang dilakukan perusahaan Anda atau perusahaan luar yang Anda sewa untuk melakukan riset. Sementara riset pasar sekunder adalah riset pasar yang datanya diambil dari sumber luar.

1. Primary Market Research

Penelitian primer umumnya terbagi dalam dua kategori, yaitu penelitian eksplorasi dan penelitian khusus. Data yang diperoleh dapat berupa data kualitatif (data non numerik) atau data kuantitatif (data numerik atau statistik).

a. Penelitian eksplorasi

Penelitian eksplorasi dilakukan melalui pertanyaan terbuka. Pertanyaan dapat diajukan dalam pengaturan kelompok fokus, wawancara telepon, atau kuesioner. Ini menghasilkan pertanyaan atau masalah yang perlu ditangani perusahaan tentang produk yang sedang dikembangkan.

Riset pasar primer semacam ini dinilai kurang memperhatikan tren pelanggan yang terukur. Hal ini dikarenakan hanya melibatkan segelintir orang untuk dijadikan data penelitian.

b. Penelitian khusus

Penelitian khusus digunakan untuk menyelami masalah atau peluang yang telah diidentifikasi sebagai hal penting yang perlu menjadi perhatian khusus. Penelitian khusus mengambil segmen audiens yang lebih kecil untuk memecahkan masalah yang telah diidentifikasi oleh penelitian eksplorasi.

2. Secondary Market Research

Penelitian sekunder menggunakan informasi yang diatur oleh sumber luar seperti lembaga pemerintah, media, kamar dagang, dll. Informasi ini dipublikasikan di surat kabar, majalah, buku, situs web perusahaan, lembaga pemerintah dan nonpemerintah gratis, dan sebagainya. Sumber sekunder memanfaatkan yang berikut ini:

a. Sumber publik

Sumber publik dapat menjadi cara paling tepat untuk mengumpulkan informasi yang akurat, kredibel, dan gratis. Sumber publik merupakan sumber yang paling mudah diakses saat melakukan riset pasar sekunder.

Statistik pemerintah adalah salah satu jenis sumber publik yang paling umum digunakan oleh para pengusaha. Di Indonesia terdapat dua sumber publik yang dapat digunakan sebagai sumber data, yaitu data dari Kementrian Perdagangan dan Badan Pusat Statistik , keduanya menawarkan informasi bermanfaat tentang keadaan berbagai industri nasional.

b. Sumber komersial

Meskipun tidak dikeluarkan oleh pemerintah, sumber komersial terbukti dapat diandalkan. Jurnal, artikel, dan data penelitian dari lembaga perdagangan swasta adalah sumber komersial yang bagus untuk mengumpulkan informasi.

c. Institusi Pendidikan

Meskipun bukan sumber pengumpulan informasi yang sangat populer, sebagian besar universitas dan institusi pendidikan merupakan sumber informasi yang kaya karena banyak proyek penelitian dilakukan.

Baca juga: Sukseskan Bisnis dengan Melakukan Market Opportunity Analysis

Metode Market Research

1. wawancara tatap muka/ man-on-the-street.

Metode ini dilakukan perusahaan riset pasar dengan mewawancarai orang-orang di jalan secara acak. Pertanyaan yang dilontarkan adalah seputar surat kabar baik cetak maupun digital, media sosial, televisi, dll yang mereka baca secara teratur. Kemudian menanyakan mereka apakah mengingat iklan atau merek apa pun yang diterbitkan di dalamnya. Data yang dikumpulkan dari wawancara tersebut digunakan untuk mengetahui sirkulasi publikasi dan efektivitas iklan tersebut.

2. Riset grup

Grup fokus adalah sejumlah kecil perwakilan konsumen yang dipilih untuk mencoba produk atau menonton iklan. Setelah itu, kelompok tersebut dimintai umpan balik tentang persepsi mereka terhadap produk, merek perusahaan, atau produk pesaing.

3. Riset telepon

Metode riset telepon sebenarnya hampir mirip dengan teknik wawancara tatap muka, hanya bedanya metode ini menggunakan telepon sebagai perantaranya, bukan dengan bertemu langsung. Riset telepon adalah taktik yang disukai peneliti pasar selama bertahun-tahun karena pewawancara telepon dinilai dapat mengumpulkan informasi dengan cara yang lebih efisien dan hemat biaya.Namun di era sekarang, metode ini sudah mulai ditinggalkan karena penggunaan layanan telepon rumah sudah berkurang drastis dan masyarakat sudah beralih ke ponsel pintar yang fitur internetnya lebih disukai.

4. Riset survei

Sebagai alternatif untuk riset grup, riset survei mewakili cara yang hemat biaya untuk menentukan sikap konsumen tanpa harus mewawancarai siapapun secara langsung. Konsumen dikirimi survei melalui pos, email, ataupun media sosial. Biasanya dengan kupon atau voucher untuk mendorong partisipasi. Survei ini membantu menentukan bagaimana perasaan konsumen tentang produk, merek, dan titik harga.

Mengapa Anda Wajib Melakukan Market Research ?

Riset pasar adalah salah satu cara paling efektif untuk mendapatkan wawasan tentang basis pelanggan, pesaing, dan pasar Anda secara keseluruhan. Tujuan melakukan riset pasar adalah untuk membekali perusahaan Anda dengan informasi yang Anda butuhkan untuk membuat keputusan yang tepat.

Hal ini sangat penting ketika usaha kecil sedang mencoba untuk menentukan apakah ide bisnis baru layak, ingin pindah ke pasar baru, atau meluncurkan produk atau layanan baru. Baca di bawah untuk melihat lebih mendalam tentang bagaimana riset pasar dapat membantu usaha kecil.

1. Persaingan

Melakukan penelitian membantu bisnis mendapatkan wawasan tentang perilaku pesaing. Dengan mempelajari kekuatan dan kelemahan pesaing Anda, Anda dapat mempelajari cara memposisikan produk atau penawaran Anda. Agar sukses, usaha kecil perlu memiliki pemahaman tentang produk dan layanan apa yang ditawarkan pesaing, dan titik harganya.

2. Pelanggan

Disadari atau tidak baik perusahaan kecil ataupun besar perlu memahami pelanggan mereka. Perusahaan yang tidak melakukan riset pasar dan hanya asal jalan saja, sering sekali menentukan langkah dan kebijakan bisnis yang salah. Dengan meneliti, Anda dapat membuat profil pelanggan rata-rata dan mendapatkan wawasan tentang kebiasaan membeli mereka, berapa banyak yang bersedia mereka belanjakan, dan fitur mana yang cocok dengan mereka. Bahkan yang lebih penting lagi, Anda dapat mempelajari apa yang akan membuat seseorang menggunakan produk atau layanan Anda dibandingkan pesaing, ataupun sebaliknya.

Peluang potensial, baik berupa produk maupun jasa, dapat diidentifikasi dengan melakukan riset pasar. Dengan mempelajari lebih lanjut tentang pelanggan Anda, Anda dapat mengumpulkan wawasan tentang produk dan layanan pelengkap untuk mendukung bisnis Anda. Kebutuhan konsumen berubah seiring waktu, dipengaruhi oleh teknologi baru, tren, dan perubahan situasi ekonomi di masyarakat. Anda mungkin menemukan kebutuhan baru yang belum terpenuhi oleh industri lain, sehingga dapat menciptakan peluang baru bagi bisnis Anda.

4. Prakiraan

Perusahaan kecil dan besar sama-sama dipengaruhi oleh kinerja ekonomi lokal dan nasional, begitu pula dengan pelanggannya. Jika konsumen khawatir, maka mereka akan lebih terkendali dalam membelanjakan uang, yang berdampak pada bisnis. Dengan melakukan penelitian dengan konsumen, bisnis dapat mengetahui apakah mereka optimis atau khawatir tentang arah ekonomi, dan melakukan penyesuaian seperlunya.

Baca juga: Mengetahui Apa Itu Market Trends Analysis

Langkah-Langkah Melakukan Market Research

Berikut adalah langkah-langkah untuk melakukan riset pasar yang efektif.

Langkah #1: Tentukan Tujuan Penelitiannya

Yang wajib Anda lakukan pertama kali adalah menyadari dan tidak abai terhadap fenomena-fenomena yang dapat mempengaruhi bisnis Anda, entah itu baik atau buruk. Setelah itu Anda harus memiliki subjek penelitian yang memiliki kualitas baik, sehingga membantu tim riset mendapatkan data yang akurat ketika melakukan riset. Pertanyaan-pertanyaan ini harus ditujukan untuk memecahkan masalah dan harus disesuaikan dengan proyek. Pastikan pertanyaan ditulis dengan jelas sehingga responden mudah memahaminya. Tujuan penelitian harus ditulis dengan cara yang tepat dan harus mencakup uraian singkat tentang informasi yang dibutuhkan dan cara memperolehnya. Pelaku riset harus memiliki jawaban atas pertanyaan ini “mengapa kita melakukan penelitian?”

Langkah #2: Tentukan Sampel

Untuk melakukan riset pasar, peneliti membutuhkan sampel yang representatif dan dapat dikumpulkan dengan menggunakan salah satu dari banyak teknik pengambilan sampel. Sampel yang representatif adalah sejumlah kecil orang yang mencerminkan atau mewakili kelompok yang lebih besar.

Sebuah organisasi tidak boleh menyia-nyiakan sumber daya mereka dalam mengumpulkan informasi dari masyarakat yang salah. Penting bahwa sekelompok masyarakat dapat mewakili karakteristik yang penting dalam sampel yang dipilih. Risiko yang sering dihadapi tim riset ketika menentukan sampel adalah orang-orang yang dijadikan sampel tidak menjawab survei karena sibuk, atau menjawabnya tidak lengkap, sehingga peneliti/tim riset mungkin tidak mendapatkan data yang dibutuhkan.

Mengenai ukuran sampel, semakin besar sampel, semakin besar kemungkinan untuk mewakili populasi. Sampel representatif yang lebih besar memberikan kepastian yang lebih besar pula kepada peneliti bahwa orang-orang yang disertakan adalah orang-orang yang mereka butuhkan, dan mereka mungkin dapat mengurangi bias. Oleh karena itu, jika mereka ingin menghindari ketidakakuratan dalam survei kami, mereka harus memiliki sampel yang representatif dan seimbang.

Ada dua cara untuk mendapatkan sampel yang representatif:

Pengambilan sampel probabilitas:

Dalam pengambilan sampel probabilitas, pemilihan sampel akan dilakukan secara acak. Sampel yang diambil adalah sampel yang dirasa menjamin bahwa setiap anggota populasi akan memiliki probabilitas pemilihan dan inklusi yang sama dalam kelompok sampel. Peneliti harus memastikan bahwa mereka telah memperbaharui informasi tentang populasi yang akan diambil sampelnya dan mensurvei mayoritas untuk membangun keterwakilan.

Pengambilan sampel non-probabilitas :

Dalam pengambilan sampel non-probabilitas, tipe orang yang berbeda ditempatkan sebagai sampel representatif yang seimbang. Mengetahui karakteristik demografi kelompok kita tentunya akan membantu untuk membatasi profil sampel yang diinginkan dan menentukan berbagai variabel, seperti jenis kelamin, usia, tempat tinggal, dll. Dengan mengetahui kriteria tersebut, sebelum memperoleh informasi, peneliti dapat memiliki kontrol untuk membuat sampel representatif yang efisien bagi perusahaan.

Ketika sampel tidak representatif, sangat mungkin terdapat margin kesalahan. Jika peneliti ingin memiliki sampel yang mewakili 100 karyawan, mereka harus memilih jumlah pria dan wanita yang sama. Ukuran sampel sangat penting, tetapi tidak menjamin 100% akurat.

Langkah 3: Gunakan Dan Kembangkan Instrumen Pengumpulan Data

Penggunaan instrumen pengumpulan data harus dikembangkan. Fakta bahwa mereka tidak menjawab survei, atau menjawabnya dengan tidak lengkap akan menyebabkan kesalahan dalam penelitian. Penggunaan instrumen pengumpulan data yang benar akan mencegah hal ini.

Langkah 4: Analisis Hasilnya

Setiap poin dari proses riset pasar terkait satu sama lain. Maka, jika semua hal di atas dijalankan dengan baik, tetapi tidak ada analisis hasil yang akurat, maka keputusan yang diambil secara konsekuen tidak akan tepat. Analisis mendalam yang dilakukan tanpa meninggalkan permasalahan utama akan efektif dalam mendapatkan solusi.

Lalu, bagaimana peneliti mengukur hasil yang diperoleh? Data kuantitatif yang akan diperoleh hanyalah umur, jenis kelamin, profesi, dan jumlah narasumber, selebihnya adalah emosi dan pengalaman yang telah ditransmisikan kepada perusahaan oleh lawan bicara. Untuk ini, ada alat yang disebut peta empati yang memaksa kita untuk menempatkan diri kita pada posisi konsumen dengan tujuan untuk dapat mengidentifikasi karakteristik yang memungkinkan perusahaan membuat penyesuaian yang lebih baik antara produk atau layanan dengan kebutuhan dan keinginan mereka.

Langkah #5: Buat Laporan Penelitian

Saat mempresentasikan hasil, perusahaan harus fokus pada: apa yang ingin dicapai dengan menggunakan laporan penelitian ini dan saat menjawab pertanyaan ini perusahaan/tim riset tidak boleh berasumsi bahwa struktur survei adalah cara terbaik untuk melakukan analisis. Salah satu kesalahan besar yang dilakukan banyak tim riset adalah mereka menyajikan laporan dalam urutan pertanyaan yang sama dan tidak melihat potensi untuk bercerita.

Untuk membuat laporan yang baik, analis terbaik memberikan saran berikut: ikuti gaya piramida terbalik untuk menyajikan hasil, dengan menjawab masalah yang paling penting dari bisnis. Mulailah dengan kesimpulan dan memaparkan dasar-dasarnya, alih-alih mengumpulkan bukti. Setelah ini tim riset dapat memberikan detail data kepada perusahaan.

Langkah #6: Buat Keputusan

Perusahaan atau peneliti tidak boleh bertanya “apa gunanya melakukan riset pasar?”, mereka harus melakukannya!

Riset pasar membantu perusahaan untuk mengetahui berbagai informasi, misalnya niat beli konsumen, atau memberikan umpan balik tentang pertumbuhan target pasar. Mereka juga dapat menemukan informasi berharga yang akan membantu memperkirakan harga produk atau layanan mereka dan menemukan titik keseimbangan yang akan menguntungkan mereka dan konsumen.

Baca juga: Menerapkan Competitive Analysis untuk Bertahan di Era Persaingan

Mari Lakukan Market Research Bersama Terralogiq

Kebutuhan akan market research kian meningkat setiap harinya. Di dunia yang serba kompetitif dan dinamis ini, berbagai perusahaan menggunakan market research sebagai mata pedang dan perisai untuk dapat bertahan dan tetap sukses.

Apa Anda ingin meningkatkan kinerja bisnis dan perusahaan Anda dengan menerapkan market research tetapi tak ingin terbebani dengan persoalan teknis? Anda dapat memilih Terralogiq sebagai mitra bisnis Anda.

Terralogiq merupakan perusahaan IT yang telah berdiri sejak tahun 2013. Dipercaya oleh lebih dari 150 klien, Terralogiq menawarkan solusi berbasis teknologi yang dapat Anda aplikasikan untuk pengembangan bisnis melalui sejumlah layanan.

Layanan-layanan yang disediakan Terralogiq, antara lain: location intelligence, geomarketing, asset collaterals, dan asset management system. Layanan-layanan tersebut telah terbukti efektif untuk melakukan pengumpulan dan analisis data untuk berbagai riset, market research salah satunya. Tidak hanya itu, Terralogiq juga merupakan Google Cloud Premier Partner yang dapat memberikan berbagai solusi layanan yang berkaitan dengan Google.

Segera hubungi Terralogiq untuk menjawab kebutuhan business digitalization Anda! Kunjungi website kami untuk mengetahui lebih lanjut atau hubungi kami melalui [email protected] .

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Market Research: Definisi, Tujuan, Jenis, Metode, & Langkah

Siti Khadijah Azzukhruf Firdausi

03 April 2024

Pemahaman mendalam tentang pasar adalah kunci utama keberhasilan suatu bisnis. Oleh sebab itu, market research adalah prosedur penting yang dilakukan untuk mendapatkan pemahaman tersebut.

Secara umum, market research adalah proses pengumpulan dan analisis informasi penting tentang pasar sebuah bisnis. Untuk tahu lebih lengkapnya, baca artikel ini sampai habis ya!

Apa yang Dimaksud Market Research ?

Market research adalah proses sistematis untuk mengumpulkan, menganalisis, dan menafsirkan informasi tentang pasar.

Informasi tersebut meliputi pemahaman tentang kebiasaan, kebutuhan, dan preferensi konsumen. Selain itu, ini menggambarkan dinamika kompetisi dan tren industri.

Tujuan utama dari market research adalah untuk membantu perusahaan membuat keputusan yang lebih tepat dan strategis.

Keputusan yang dibuat terkait dengan pengembangan produk berdasarkan fakta dan insight pasar yang aktual. Hasilnya juga digunakan dalam penetapan harga, promosi, dan distribusi.

Proses ini melibatkan beberapa langkah utama. Langkahnya termasuk penentuan masalah penelitian, desain penelitian, pengumpulan data, analisis data , dan pelaporan hasil.

Data yang dikumpulkan dapat berasal dari sumber primer, seperti survei langsung kepada konsumen. Ini juga bisa didapat dari sumber sekunder, seperti studi dan laporan yang sudah ada.

Secara keseluruhan, market research menyediakan wawasan penting yang dapat memandu strategi dan taktik bisnis. Ini memastikan bahwa keputusan yang diambil berdasarkan pemahaman pasar yang solid.

Tujuan Market Research

Tujuan utama dari market research adalah untuk memberikan wawasan dan data yang dapat membantu perusahaan dalam membuat keputusan strategis dan operasional. Beberapa tujuan yang bisa dicapai dari market research adalah:

Mengidentifikasi kebutuhan dan preferensi konsumen.

Menemukan peluang pasar baru.

Menilai kinerja produk di pasar.

Memahami posisi kompetitif.

Mengoptimalkan strategi pemasaran .

Mengurangi risiko dalam pengambilan keputusan.

Menetapkan harga produk secara efektif.

Meningkatkan kepuasan dan loyalitas pelanggan.

Jenis-Jenis Market Research

Market research dapat dibagi menjadi beberapa jenis berdasarkan fokus dan metodologinya. Berikut beberapa jenis market research :

Penelitian Primer: Mengumpulkan data baru yang belum pernah ada sebelumnya langsung dari sumbernya. Ini bisa melalui survei, wawancara, focus group , atau pengamatan.

Penelitian Sekunder: Menggunakan data yang sudah dikumpulkan oleh orang lain. Contohnya adalah laporan industri, studi pasar yang diterbitkan, dan data statistik pemerintah.

Penelitian Kuantitatif: Mengumpulkan data yang dapat diukur dan dianalisis secara statistik. Contohnya termasuk survei online , kuesioner, dan eksperimen yang dapat menghasilkan angka atau data.

Penelitian Kualitatif : Berfokus pada pengumpulan data non-numerik untuk mendapatkan pemahaman mendalam tentang perilaku, motivasi, dan sikap konsumen. Metode ini meliputi wawancara mendalam, focus group , dan analisis konten.

Penelitian Eksploratif: Digunakan untuk mengumpulkan informasi awal yang akan membantu mendefinisikan masalah dan menyarankan hipotesis.

Penelitian Deskriptif: Bertujuan untuk menggambarkan karakteristik pasar atau fungsi dari suatu produk tertentu melalui pengumpulan dan analisis data.

Penelitian Kausal: Bertujuan untuk menentukan hubungan sebab-akibat antara variabel. Contohnya termasuk penggunaan eksperimen untuk melihat pengaruh perubahan satu variabel terhadap yang lainnya.

Penelitian Kompetitif : Fokus pada pengumpulan dan analisis informasi tentang pesaing. Tujuannya untuk memahami posisi mereka di pasar, kekuatan, kelemahan, strategi, dan peluang.

Metode Apa yang Digunakan dalam Market Research ?

Dalam market research , berbagai metode digunakan untuk mengumpulkan dan menganalisis data tentang pasar, konsumen, dan pesaing. Berikut adalah beberapa metode utama:

Survei: Mengumpulkan data dari sejumlah responden melalui kuesioner online , telepon, wajah ke wajah, atau melalui pos. Survei bisa bersifat kuantitatif atau kualitatif tergantung pada jenis pertanyaan yang diajukan.

Wawancara: Melakukan pembicaraan langsung dengan individu atau kelompok untuk memahami perilaku, preferensi, dan pengalaman mereka. Wawancara bisa bersifat terstruktur, semi-terstruktur, atau tidak terstruktur.

Focus Group: Mengumpulkan sekelompok orang untuk mendiskusikan dan memberikan pendapat tentang produk, layanan, atau ide tertentu. Sesi ini biasanya dipandu oleh moderator.

Pengamatan: Memperoleh data dengan mengamati perilaku dan kegiatan konsumen secara langsung di lingkungan alami mereka. Misalnya, di toko atau saat menggunakan produk.

Analisis Data Sekunder: Menggunakan data yang telah dikumpulkan dan dianalisis oleh sumber lain. Contohnya adalah laporan industri, data pemerintah, atau studi akademik.

Eksperimen: Melakukan uji coba dengan mengubah variabel tertentu untuk melihat efeknya terhadap variabel lain, biasanya dalam konteks terkontrol.

Ethnography: Melakukan penelitian mendalam tentang perilaku dan kebiasaan konsumen dengan terjun langsung ke dalam lingkungan mereka.

Analisis Media Sosial: Menggunakan alat dan teknik untuk menganalisis konten, tren, dan interaksi pada platform media sosial.

Analisis Sentimen: Menggunakan teknologi pemrosesan bahasa alami untuk menganalisis opini, sikap, dan emosi yang diungkapkan dalam teks, seperti ulasan online atau postingan media sosial.

Studi Kasus: Menganalisis situasi atau entitas tertentu secara mendalam untuk mengeksplorasi keberhasilan atau kegagalan dalam konteks pasar tertentu.

Langkah dalam Market Research

Proses market research biasanya melibatkan beberapa langkah utama untuk memastikan bahwa informasi yang dikumpulkan akurat dan relevan. Berikut adalah langkah-langkah tersebut:

1. Menentukan Masalah dan Tujuan Penelitian

Langkah pertama dalam market research adalah menentukan masalah dan tujuan penelitian. Berikut adalah langkah-langkahnya:

Mengidentifikasi masalah spesifik yang perlu ditangani atau peluang untuk dieksplorasi.

Menyusun tujuan penelitian yang jelas untuk memandu proses penelitian.

2. Merancang Penelitian

Berikutnya adalah merancang penelitian. Berikut adalah tahapannya:

Memilih jenis penelitian (primer atau sekunder, kualitatif atau kuantitatif) yang paling sesuai untuk tujuan.

Merencanakan metode pengumpulan data dan instrumen penelitian yang akan digunakan.

3. Pengumpulan Data

Langkah selanjutnya adalah melaksanakan pengumpulan data sesuai dengan desain penelitian. Ini dilakukan menggunakan metode seperti survei, wawancara, focus group, atau pengamatan.

4. Analisis Data

Berikutnya adalah mengolah dan menganalisis data yang telah dikumpulkan. Ini bisa dilakukan menggunakan teknik statistik untuk penelitian kuantitatif atau analisis konten untuk penelitian kualitatif.

5. Pelaporan dan Presentasi Hasil Langkah selanjutnya adalah pelaporan dan presentasi hasil. Berikut uraian detailnya: Menyusun laporan penelitian yang mencakup metodologi, analisis data, dan hasil. Mempresentasikan hasil penelitian kepada pemangku kepentingan untuk mendukung pengambilan keputusan.

6. pengambilan keputusan dan implementasi.

Selanjutnya adalah pengambilan keputusan dan implementasi. Berikut adalah uraian detailnya:

Menggunakan temuan penelitian untuk membuat keputusan strategis atau operasional.

Mengimplementasikan tindakan berdasarkan insight dari penelitian. Contohnya mengembangkan produk baru, menyesuaikan strategi pemasaran, atau memasuki pasar baru.

7. Evaluasi dan Penyesuaian

Langkah berikutnya adalah evaluasi dan penyesuaian. Berikut tahapannya:

Menilai efektivitas tindakan yang diambil berdasarkan hasil penelitian.

Membuat penyesuaian strategi atau tindakan berdasarkan umpan balik dan kondisi pasar yang berubah.

Demikian pembahasan lengkapn mengenai apa itu market research hingga langkahnya. Dengan melakukan market research , kamu bisa memastikan bahwa keputusan bisnis didukung oleh data solid dan insight pasar yang relevan.

Selain riset pasar, kamu juga harus pastikan bahwa strategi pemasaran yang diterapkan optimal. Selain itu, ada baiknya untuk benar benar mengimplementasikan strategi pemasaran digital dengan tepat.

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7 Tahapan Cara Market Research, Metode dan Fungsinya

Banyak berbagi banyak rejeki :

Market research adalah salah satu tahapan penting setiap bisnis yang ingin memahami kebutuhan dan preferensi konsumen, mengidentifikasi peluang pasar, hingga menghadapi persaingan dengan lebih efektif.

Proses ini dilakukan dengan beberapa tahapan, apa saja saja? Nah, dalam artikel ini kita akan membahas lebih dalam mengenai tahapan, metode, fungsi hingga contohnya, untuk membantu Anda agar bisa lebih optimal dalam mengembangkan usaha.

Point Penting di Konten Ini

Apa itu Market Research?

Marketing reseach disebut juga dengan riset pasar (Credit: Freepik.com)

Istilah market research dalam bahasa Indonesia disebut dengan riset pasar. Dimana diartikan sebagai sebuah proses sistematis untuk mengumpulkan dan menganalisa data penting tentang pasar.

Data ini bisa tentang konsumen, kompetitor, ataupun tren yang sedang berkembang di pasar tersebut. Dengan tujuan untuk membantu pebisnis mengambil keputusan yang lebih baik.

Contoh market researchnya: Sebuah perusahaan makanan ringan mau meluncurkan produk baru. Mereka bisa melakukan riset pasar untuk mencari tahu:

Apakah konsumen sedang mencari jenis makanan ringan tertentu?
Berapa harga yang mau dibayar konsumen untuk produk tersebut?
Fitur apa saja yang diinginkan konsumen dari makanan ringan tersebut?
Apa merek makanan ringan yang menjadi kompetitor utama mereka?

Dengan informasi yang didapat dari riset pasar, perusahaan tersebut bisa membuat keputusan yang lebih baik mengenai produk baru mereka, seperti rasa, harga, dan strategi pemasarannya.

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Perbedaan Market Research dan Marketing Research

Istilah market research dan marketing research seringkali disamakan, padahal dua istilah tersebut merupakan hal yang berbeda. Lantas, apa perbedaan dari market research dan marketing research?

Menurut buku Marketing Research for Beginner: Panduan Praktis Riset Pemasaran bagi Pemula (2006) karya Prima Ariestonandri, ada 4 hal dasar yang membedakannya, yakni: cakupan, tujuan, metode dan hasilnya.

Market research: Berfokus pada pasar tertentu dengan produk atau jasa yang spesifik. Contohnya, riset untuk mengetahui preferensi konsumen terhadap merek sabun cuci piring tertentu di wilayah Jabodetabek.
Marketing research: Cakupannya lebih luas, tidak hanya terpaku pada satu pasar atau produk. Contohnya, riset untuk mengetahui tren dan perilaku konsumen di Indonesia secara keseluruhan, termasuk faktor-faktor yang mempengaruhi keputusan pembelian mereka.
Market research: Digunakan untuk mengidentifikasi peluang pasar, memahami target konsumen, dan mengevaluasi kinerja produk atau jasa di pasar tertentu.
Marketing research: Memiliki tujuan yang lebih luas, seperti mengembangkan strategi pemasaran yang efektif, meningkatkan brand awareness, dan meningkatkan profitabilitas perusahaan.
Market research: Biasanya menggunakan metode penelitian kuantitatif, seperti survei dan pengumpulan data statistik.
Marketing research: Dapat menggunakan berbagai metode penelitian, baik kuantitatif maupun kualitatif, seperti survei, wawancara, focus group, dan observasi.
Market research: Menghasilkan data dan informasi tentang pasar, konsumen, dan produk/jasa tertentu.
Marketing research: Menghasilkan rekomendasi dan strategi yang dapat digunakan untuk mencapai tujuan pemasaran perusahaan.

Fungsi Market Research

Ada 4 fungsi dasar riset pasar pada bisnis, yakni evaluasi, pemahaman bisnis, prediksi dan pengendalian (Credit: Freepik.com)

Berikut beberapa fungsi dasar riset pasar:

1. Evaluasi (Evaluating)

Fungsi ini membantu bisnis untuk menilai produk atau layanan yang sudah ada di pasar. Dengan evaluasi, bisnis dapat mengetahui:

Apakah produk atau layanan tersebut masih sesuai dengan kebutuhan pelanggan?
Apakah harga produk atau layanan tersebut wajar?
Apakah strategi pemasaran yang digunakan sudah efektif?

Yang nantinya dapat digunakan untuk memperbaiki produk atau layanan, menyesuaikan harga, atau mengubah strategi pemasaran.

2. Pemahaman (Understanding)

Kemudian, juga berfungsi untuk membantu bisnis untuk memahami pasar dan pelanggannya dengan lebih baik. Dimana pebisnis dapat mengidentifikasi peluang dan tantangan di pasar, memahami preferensi dan kebutuhan pelanggan, mengembangkan produk atau layanan yang sesuai dengan permintaan pasar, hingga meningkatkan kepuasan pelanggan.

3. Prediksi (Predicting)

Selanjutnya berfungsi untuk membantu bisnis memprediksi perilaku pasar di masa depan. Bagaimana caranya? Caranya dengan:

Menganalisis data pasar dan tren industri saat ini.
Membuat prediksi tentang kebutuhan pelanggan di masa depan.
Mempersiapkan strategi bisnis untuk menghadapi perubahan pasar.

4. Pengendalian (Controlling)

Fungsi berikutnya, membantu bisnis untuk mengendalikan proses bisnis dan memantau kinerja produk atau layanan. Sehingga bisnis bisa lebih optimal dalam melihat apakah bisnisnya berjalan dengan baik atau perlu perbaikan, memastikan produk atau layanannya tetap relevan di pasar, hingga melakukan penyesuaian yang diperlukan untuk mencapai tujuan bisnis.

Jenis-Jenis Market Research

Market research dikelompokkan menjadi beberapa metode, yakni:

1. Deskriptif

Pertama ada market research deskriptif, bertujuan untuk menggambarkan dan mengidentifikasi karakteristik pasar atau segmen tertentu. Metode ini dilakukan untuk menjawab pertanyaan "Apa?", "Bagaimana?", dan "Siapa?".

Dengan menggunakan metode seperti survei, wawancara, dan pengamatan langsung. Data yang dikumpulkan membantu memahami preferensi konsumen, perilaku mereka, dan faktor-faktor yang mempengaruhi keputusan pembelian.

Selain itu, market research deskriptif juga memberikan wawasan tentang pesaing dan tren pasar, membantu perusahaan mengembangkan strategi pemasaran yang efektif dan meningkatkan daya saing bisnis mereka.

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2. Eksploratif

Selanjutnya adalah metode eksploratif, digunakan untuk mendapatkan pemahaman awal tentang pasar atau konsumen, terutama ketika informasi yang tersedia masih terbatas.

Metode pengumpulan data pada metode ini biasanya dilakukan dengan wawancara mendalam dan observasi langsung untuk menggali lebih dalam tentang kebutuhan, preferensi, dan motivasi konsumen.

Kemudian ada metode kausal, yakni metode yang berfokus pada hubungan sebab-akibat antara variabel tertentu. Misalnya, menguji apakah penawaran khusus mempengaruhi tingkat pembelian konsumen.

Adapun hasil dari penelitian kausal ini akan memberikan dasar yang kuat untuk keputusan strategis, meskipun prosesnya sering kali kompleks dan memerlukan sumber daya yang signifikan.

4. Kualitatif

Selanjutnya ada metode kualitatif, bertujuan untuk mendapatkan wawasan mendalam tentang persepsi, pendapat, dan motivasi individu atau kelompok terkait produk atau layanan.

Pengumpulan datanya biasanya dilakukan dengan wawancara mendalam, focus group discussion (FGD), dan observasi langsung digunakan untuk mengumpulkan data deskriptif yang subjektif.

5. Kuantitatif

Metode terakhir yang bisa digunakan untuk research market adalah kuantitatif, dengan pengumpulan dan analisis data yang dapat diukur dan dijumlahkan, seperti survei dan kuesioner.

Menghasilkan gambaran umum mengenai preferensi konsumen, skala pasar, dan tren yang sedang berlangsung. Selain itu, metode ini juga dapat membantu pengusaha untuk membuat keputusan bisnis yang lebih rasional dan berbasis data.

Tahapan Proses Market Research

Cara Market Research bisa dilakukan dengan 7 tahapan (Credit: Freepik.com)

Ada 7 tahapan dasar cara melakukan market research, berikut diantaranya:

1. Menentukan Tujuan Riset Pasar

Langkah pertama untuk melakukan market research adalah dengan menentukan tujuan yang jelas dari riset pasar. Apa yang ingin Anda pelajari dari riset ini?

Apakah Anda ingin mengetahui preferensi konsumen terhadap produk baru? Atau ingin memahami tren pasar terkini? Dengan tujuan yang jelas, Anda dapat menentukan langkah selanjutnya dengan lebih terarah.

2. Mengidentifikasi Masalah

Setelah menentukan tujuan, langkah selanjutnya adalah mengidentifikasi masalah yang ingin Anda pecahkan dengan riset pasar. Semakin spesifik masalahnya, semakin mudah Anda untuk merancang metodologi riset yag cocok untuk bisnis Anda.

3. Menyusun Anggaran Biaya

Jika tujuan dan masalah sudah diidentifikasi, selanjutnya adalah menyusun anggaran biaya. Riset pasar membutuhkan biaya.

Oleh karena itu, Anda perlu menyusun anggaran biaya yang realistis agar proses bisa berjalan lancar sesuai rencana. Perhitungan biaya untuk hal-hal seperti desain kuesioner, pelaksanaan survei, analisis data, dan lain sebagainya.

Selain itu, atur juga keuangan bisnis Anda agar proses ini tidak mengganggu berjalannya operasional bisnis. untuk mengoptimalkan proses manajemen keuangan ini Anda bisa menggunakan aplikasi pembukuan keuangan Beecloud.

Bantu catat arus kas keuangan bisnis dengan rapi, analisa keuangan hingga laporan akuntansi. Cegah bisnis boncos karena anggaran tidak terkendali.

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4. Memilih Metode Riset yang Digunakan

Kemudian, pilih metode riset pasar yang akan digunakan, ada deskriptif, eksploratif, kausal, kualitatif dan kuantitatif. Metode ini juga mempengaruhi bagaimana cara Anda dalam mengumpulkan data.

Apakah dengan menggunakan survei, wawancara, focus group, observasi, atau lainnya. Dan paling penting pastikan metode yang Anda pilih adalah metode yang paling sesuai dengan tujuan, masalah dan anggaran Anda.

5. Merancang Kuesioner

Jika Anda menggunakan metode survei, Anda perlu merancang kuesioner yang baik. Kuesioner harus jelas, mudah dipahami, dan relevan dengan tujuan riset.

6. Pengumpulan Data dan Informasi

Setelah semua persiapan selesai, langkah selanjutnya adalah mengumpulkan data dan informasi. Pastikan data yang Anda kumpulkan akurat, lengkap, dan terpercaya.

7. Analisa Data untuk Menilai Kondisi Pasar dan Tren

Terakhir adalah menganalisis data untuk mendapatkan informasi yang bermanfaat. Gunakan metode statistik yang sesuai untuk menganalisis data dan menarik kesimpulan.

Dari seluruh penjelasan di atas dapat disimpulkan jika, Market research adalah proses sistematis untuk mengumpulkan dan menganalisis data penting tentang pasar, konsumen, dan kompetitor.

Dengan tujuan untuk membantu pebisnis mengambil keputusan yang lebih baik, seperti meluncurkan produk baru, meningkatkan strategi pemasaran, atau memahami tren pasar. Semoga bermanfaat 🥰

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Case Studies

></center></p><h2>4 Key Elements That Comprise a Market Research Feasibility Study</h2><p><center><img style=

Image credit: Unsplash

A market research feasibility study is a critical step in making informed business decisions. It’s a comprehensive analysis that provides invaluable insights into the potential success of a business endeavor.

A detailed market feasibility study in marketing offers a solid foundation for understanding the potential success of a new venture. The venture might be a product, service, or expansion.

This blog post explores the 4 key elements that comprise a market research feasibility study. It will equip you with the tools to navigate these critical decisions.

Definition of a Market Research Feasibility Study

A market research feasibility study is an integral part of a feasibility study akin to a blueprint for success. It’s a step-by-step evaluation of the potential of a new business venture.

The importance of a market feasibility study isn’t a mere formality but an essential step towards avoiding risks and maximizing success in the long term.

Imagine you’re considering opening a new restaurant. Market research would look into the proposed project’s location, target market, competition, and financial projections. This ensures you’re not just opening a restaurant but one poised for success.

The 4 key elements that comprise a market research analysis are similar to those seen in other types of feasibility studies. It includes market analysis, technical analysis, financial analysis, and risk analysis. Each element works in hand with others to provide a sustainable business adventure.

Let us take a broader overview of each element:

Key Element 1: Market Analysis

Understanding the market is similar to understanding the battlefield before entering a war. Market analysis is an important component of market research. It involves a careful examination of various aspects of your feasibility study marketing strategy. Then, it provides you with a clear sales projection , crucial to the success of your business idea.

Market Size

This entails determining the total addressable market, i.e., the total demand for your product or service. For example, you have to look for customers in the fitness market if you want to launch a new type of fitness tracker.

Demography means studying your target customer’s info like age, where they live, and how much they earn. It’s super important when starting a new business. For example, if you’re opening a trendy skate shop, knowing if many young skaters are in the area helps you plan right. It’s like having a secret weapon for your business!

Market Trends

Markets are dynamic, and trends can make or break a business. For example, suppose you’re considering a foray into the electric vehicle industry. In that case, understanding the current shift toward sustainable transportation is crucial.

Competition Analysis

Knowing your competitors is like understanding the strategies of opposing forces. It’s about identifying who you’re up against, their strengths and weaknesses. Let’s say you’re planning a new e-commerce platform; competitive assessment of giants like Amazon and eBay is essential.

Key Element 2: Technical Analysis

Technical analysis is the engine under the hood of your venture. It’s about ensuring you have the necessary resources, capabilities, and technology to make your business concept a reality.

Production Capacity

Production capacity involves assessing how much you can produce or deliver. For instance, understanding your brewing capacity per batch is vital if you’re planning to start a craft brewery.

Resource Assessment

Do you have access to the required materials, labor, and equipment? This step ensures that you’re not just ideating but capable of executing. In the case of a software startup, having a skilled development team and necessary software licenses are crucial resources.

Technology Evaluation

Depending on your industry, technology can be a game-changer. Consider a scenario where you’re venturing into the field of renewable energy. Assessing the latest solar panel technology and its efficiency would be a key aspect of the technical analysis.

Key Element 3: Financial Analysis

This is where dreams meet numbers. Financial analysis is the bedrock of any feasibility study.

Cost Assessment

Cost assessment is about understanding what it takes to start the venture. This includes initial investments, operation costs, and more. If you’re planning a boutique hotel, this would involve expenses like construction, interior design, and staff recruitment.

Revenue Projections

How do you plan to make money? Revenue projections involve estimating income streams. If you’re developing a software-as-a-service (SaaS) product, you’d project subscription-based revenue.

Profit Index Analysis

Profit index analysis is the heart of financial analysis. Are you going to make a profit, and if so, when? For instance, considering a food delivery service, you’d factor in expenses like food sourcing, logistics, and marketing costs against potential earnings.

Essential Element 4: Risk Analysis

In business, as in life, risks are inevitable. Identifying and mitigating risk is a critical aspect of any market research study.

Risk Identification

This involves identifying potential obstacles, challenges, or uncertainties that could hinder the success of your venture. For example, a risk might include charging infrastructure if you plan to launch a new line of electric cars.

Risk Assessment

Once identified, risk assessment on the potential impact and likelihood of occurrence should follow. In our electric car example, the effect of limited charging infrastructure on sales and market penetration would be a critical assessment.

Risk Mitigation Strategies

What are you going to do about these risks? This step involves developing plans and strategies to minimize the impact of identified threats in your product lines. This might include partnerships with charging infrastructure providers or innovative solutions like swappable batteries.

Differences Between Marketing Feasibility Study, Marketing Plan, and Business Plan

Marketing feasibility, marketing plan, and business plan have several similarities. However, there are clear differences between these business strategies.

Marketing Feasibility

Market Feasibility is like doing your homework before starting a business. It’s all about finding out if there’s a real need for what you want to offer.

The component of a marketing feasibility study includes feasibility study market analysis, customer demographics, competition assessment, and financial projections.

For instance, if you’re into starting a tutoring service, you’d want to know if enough students seek help in your area.

Marketing Plan

Marketing Plan is your game plan for promoting your business. It’s like making a strategy for how you’ll let people know about your awesome products or services.

The component of your marketing plan includes market analysis, target audience identification, competitive analysis, marketing tactics, budget allocation, and performance metrics.

Let’s say you’re launching a cool app; your marketing plan might involve social media ads. You can also use influencers and maybe even some fun launch events.

Business Plan

Business Plan is like the master plan for your whole business. It’s like a roadmap that covers everything about your business. It covers details from what you’re selling to how you’ll make money and even how you’ll grow in the future.

The components of a business plan include an executive summary , target market, and operation structure. Other notable elements are marketing strategies, financial projections, and the long-term goals of your business.

If you’re considering starting a small bakery, your business plan would have information about your menu and location. Other information will include budget and how you’ll stand out from other bakeries.

However, these plans work together to ensure your business idea is strong and ready to shine.

Reasons to Hire a Research Firm for Your Market Research Feasibility Study

Market research feasibility is the most critical type of Feasibility Analysis . This is because it directly impacts the success of any business venture.

As a startup entrepreneur, having a perfect result might step beyond due to associated market experience and technology requirements. Expert market research firms remove these worries and allow you to focus on other aspects of the business.

One standout market research firm you can hire in the UAE and Dubai markets is Researchers. Hiring firms like Researchers offers you the following:

Access to Advanced Tools

Research firms have cutting-edge technology and computation tools. These technical resources may not be readily available in-house, leading to more refined and accurate results.

Industry Knowledge

Specialized research firms often have deep industry expertise. This experience enables them to understand market terms and trends that may not be apparent to a generalist.

Privacy and Security

Professional research firms prioritize privacy and have robust data security measures to safeguard sensitive information.

Benchmarking and Comparison

Research firms can provide benchmarking against industry standards and competitors, giving you a clearer understanding of your position in the market.

Global Reach

If your market extends beyond borders, research firms with international capabilities can offer insights into global markets. This insight can help you make strategic decisions with a great ROI on your time and money.

In business ventures, knowledge truly is power. A marketing feasibility study equips you with the insights needed to navigate the complexities of a new endeavor. Let’s recap why each component is crucial:

Market Analysis: It’s about understanding your battlefield. Knowing your demography, market size, trends, and competition provides a solid foundation for your venture.
Technical Analysis: This ensures you have the capabilities and resources to turn your concept into reality. It’s the engine that drives your business forward.
Financial Analysis: Dreams meet reality here. It’s where you assess the costs and project revenues and determine if your venture will be financially viable.
Risk Analysis: Business is not without its risks. Identifying, assessing, and mitigating these risks sets successful ventures apart from the rest.

So, take this knowledge and implement it in your own ventures. A well-conducted market research can determine between a venture that dips and one that soars.

As you embark on your business journey, remember that a well-informed choice today can lead to a thriving venture tomorrow. Hire expert research firms like Researchers for an optimal result.

Azhar Siddique
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What is a Feasibility Study and How to Conduct It? (+ Examples)

Appinio Research · 26.09.2023 · 28min read

Are you ready to turn your project or business idea into a concrete reality but unsure about its feasibility? Whether you're a seasoned entrepreneur or a first-time project manager, understanding the intricate process of conducting a feasibility study is vital for making informed decisions and maximizing your chances of success.

This guide will equip you with the knowledge and tools to navigate the complexities of market, technical, financial, and operational feasibility studies. By the end, you'll have a clear roadmap to confidently assess, plan, and execute your project.

What is a Feasibility Study?

A feasibility study is a systematic and comprehensive analysis of a proposed project or business idea to assess its viability and potential for success. It involves evaluating various aspects such as market demand, technical feasibility, financial viability, and operational capabilities. The primary goal of a feasibility study is to provide you with valuable insights and data to make informed decisions about whether to proceed with the project.

Why is a Feasibility Study Important?

Conducting a feasibility study is a critical step in the planning process for any project or business. It helps you:

Minimize Risks: By identifying potential challenges and obstacles early on, you can develop strategies to mitigate risks.
Optimize Resource Allocation: A feasibility study helps you allocate your resources more efficiently, including time and money.
Enhance Decision-Making: Armed with data and insights, you can make well-informed decisions about pursuing the project or exploring alternative options.
Attract Stakeholders: Potential investors, lenders, and partners often require a feasibility study to assess the project's credibility and potential return on investment.

Now that you understand the importance of feasibility studies, let's explore the various types and dive deeper into each aspect.

Types of Feasibility Studies

Feasibility studies come in various forms, each designed to assess different aspects of a project's viability. Let's delve into the four primary types of feasibility studies in more detail:

1. Market Feasibility Study

Market feasibility studies are conducted to determine whether there is a demand for a product or service in a specific market or industry. This type of study focuses on understanding customer needs, market trends, and the competitive landscape. Here are the key elements of a market feasibility study:

Market Research and Analysis: Comprehensive research is conducted to gather market size, growth potential , and customer behavior data. This includes both primary research (surveys, interviews) and secondary research (existing reports, data).
Target Audience Identification: Identifying the ideal customer base by segmenting the market based on demographics, psychographics, and behavior. Understanding your target audience is crucial for tailoring your product or service.
Competitive Analysis : Assessing the competition within the market, including identifying direct and indirect competitors, their strengths, weaknesses, and market share .
Demand and Supply Assessment: Analyzing the balance between the demand for the product or service and its supply. This helps determine whether there is room for a new entrant in the market.

2. Technical Feasibility Study

Technical feasibility studies evaluate whether the project can be developed and implemented from a technical standpoint. This assessment focuses on the project's design, technical requirements, and resource availability. Here's what it entails:

Project Design and Technical Requirements: Defining the technical specifications of the project, including hardware, software, and any specialized equipment. This phase outlines the technical aspects required for project execution.
Technology Assessment: Evaluating the chosen technology's suitability for the project and assessing its scalability and compatibility with existing systems.
Resource Evaluation: Assessing the availability of essential resources such as personnel, materials, and suppliers to ensure the project's technical requirements can be met.
Risk Analysis: Identifying potential technical risks, challenges, and obstacles that may arise during project development. Developing risk mitigation strategies is a critical part of technical feasibility.

3. Financial Feasibility Study

Financial feasibility studies aim to determine whether the project is financially viable and sustainable in the long run. This type of study involves estimating costs, projecting revenue, and conducting financial analyses. Key components include:

Cost Estimation: Calculating both initial and ongoing costs associated with the project, including capital expenditures, operational expenses, and contingency funds.
Revenue Projections: Forecasting the income the project is expected to generate, considering sales, pricing strategies, market demand, and potential revenue streams.
Investment Analysis: Evaluating the return on investment (ROI), payback period, and potential risks associated with financing the project.
Financial Viability Assessment: Analyzing the project's profitability, cash flow, and financial stability to ensure it can meet its financial obligations and sustain operations.

4. Operational Feasibility Study

Operational feasibility studies assess whether the project can be effectively implemented within the organization's existing operational framework. This study considers processes, resource planning, scalability, and operational risks. Key elements include:

Process and Workflow Assessment: Analyzing how the project integrates with current processes and workflows, identifying potential bottlenecks, and optimizing operations.
Resource Planning: Determining the human, physical, and technological resources required for successful project execution and identifying resource gaps.
Scalability Evaluation: Assessing the project's ability to adapt and expand to meet changing demands and growth opportunities, including capacity planning and growth strategies.
Operational Risks Analysis: Identifying potential operational challenges and developing strategies to mitigate them, ensuring smooth project implementation.

Each type of feasibility study serves a specific purpose in evaluating different facets of your project, collectively providing a comprehensive assessment of its viability and potential for success.

How to Prepare for a Feasibility Study?

Before you dive into the nitty-gritty details of conducting a feasibility study, it's essential to prepare thoroughly. Proper preparation will set the stage for a successful and insightful study. In this section, we'll explore the main steps involved in preparing for a feasibility study.

1. Identify the Project or Idea

Identifying and defining your project or business idea is the foundational step in the feasibility study process. This initial phase is critical because it helps you clarify your objectives and set the direction for the study.

Problem Identification: Start by pinpointing the problem or need your project addresses. What pain point does it solve for your target audience?
Project Definition: Clearly define your project or business idea. What are its core components, features, or offerings?
Goals and Objectives: Establish specific goals and objectives for your project. What do you aim to achieve in the short and long term?
Alignment with Vision: Ensure your project aligns with your overall vision and mission. How does it fit into your larger strategic plan?

Remember, the more precisely you can articulate your project or idea at this stage, the easier it will be to conduct a focused and effective feasibility study.

2. Assemble a Feasibility Study Team

Once you've defined your project, the next step is to assemble a competent and diverse feasibility study team. Your team's expertise will play a crucial role in conducting a thorough assessment of your project's viability.

Identify Key Roles: Determine the essential roles required for your feasibility study. These typically include experts in areas such as market research, finance, technology, and operations.
Select Team Members: Choose team members with the relevant skills and experience to fulfill these roles effectively. Look for individuals who have successfully conducted feasibility studies in the past.
Collaboration and Communication: Foster a collaborative environment within your team. Effective communication is essential to ensure everyone is aligned on objectives and timelines.
Project Manager: Designate a project manager responsible for coordinating the study, tracking progress, and meeting deadlines.
External Consultants: In some cases, you may need to engage external consultants or specialists with niche expertise to provide valuable insights.

Having the right people on your team will help you collect accurate data, analyze findings comprehensively, and make well-informed decisions based on the study's outcomes.

3. Set Clear Objectives and Scope

Before you begin the feasibility study, it's crucial to establish clear and well-defined objectives. These objectives will guide your research and analysis efforts throughout the study.

Steps to Set Clear Objectives and Scope:

Objective Clarity: Define the specific goals you aim to achieve through the feasibility study. What questions do you want to answer, and what decisions will the study inform?
Scope Definition: Determine the boundaries of your study. What aspects of the project will be included, and what will be excluded? Clarify any limitations.
Resource Allocation: Assess the resources needed for the study, including time, budget, and personnel. Ensure that you allocate resources appropriately based on the scope and objectives.
Timeline: Establish a realistic timeline for the feasibility study. Identify key milestones and deadlines for completing different phases of the study.

Clear objectives and a well-defined scope will help you stay focused and avoid scope creep during the study. They also provide a basis for measuring the study's success against its intended outcomes.

4. Gather Initial Information

Before you delve into extensive research and data collection , start by gathering any existing information and documents related to your project or industry. This initial step will help you understand the current landscape and identify gaps in your knowledge.

Document Review: Review any existing project documentation, market research reports, business plans, or relevant industry studies.
Competitor Analysis : Gather information about your competitors, including their products, pricing, market share, and strategies.
Regulatory and Compliance Documents: If applicable, collect information on industry regulations, permits, licenses, and compliance requirements.
Market Trends: Stay informed about current market trends, consumer preferences, and emerging technologies that may impact your project.
Stakeholder Interviews: Consider conducting initial interviews with key stakeholders, including potential customers, suppliers, and industry experts, to gather insights and feedback.

By starting with a strong foundation of existing knowledge, you'll be better prepared to identify gaps that require further investigation during the feasibility study. This proactive approach ensures that your study is comprehensive and well-informed from the outset.

How to Conduct a Market Feasibility Study?

The market feasibility study is a crucial component of your overall feasibility analysis. It focuses on assessing the potential demand for your product or service, understanding your target audience, analyzing your competition, and evaluating supply and demand dynamics within your chosen market.

Market Research and Analysis

Market research is the foundation of your market feasibility study. It involves gathering and analyzing data to gain insights into market trends, customer preferences, and the overall business landscape.

Data Collection: Utilize various methods such as surveys, interviews, questionnaires, and secondary research to collect data about the market. This data may include market size, growth rates, and historical trends.
Market Segmentation: Divide the market into segments based on factors such as demographics, psychographics , geography, and behavior. This segmentation helps you identify specific target markets .
Customer Needs Analysis: Understand the needs, preferences, and pain points of potential customers . Determine how your product or service can address these needs effectively.
Market Trends: Stay updated on current market trends, emerging technologies, and industry innovations that could impact your project.
SWOT Analysis: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to identify internal and external factors that may affect your market entry strategy.

In today's dynamic market landscape, gathering precise data for your market feasibility study is paramount. Appinio offers a versatile platform that enables you to swiftly collect valuable market insights from a diverse audience.

With Appinio, you can employ surveys, questionnaires, and in-depth analyses to refine your understanding of market trends, customer preferences, and competition.

Enhance your market research and gain a competitive edge by booking a demo with us today!

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Target Audience Identification

Knowing your target audience is essential for tailoring your product or service to meet their specific needs and preferences.

Demographic Analysis: Define the age, gender, income level, education, and other demographic characteristics of your ideal customers.
Psychographic Profiling: Understand the psychographics of your target audience, including their lifestyle, values, interests, and buying behavior.
Market Segmentation: Refine your target audience by segmenting it further based on shared characteristics and behaviors.
Needs and Pain Points: Identify your target audience's unique needs, challenges, and pain points that your product or service can address.
Competitor's Customers: Analyze the customer base of your competitors to identify potential opportunities for capturing market share.

Competitive Analysis

Competitive analysis helps you understand the strengths and weaknesses of your competitors, positioning your project strategically within the market.

Competitor Identification: Identify direct and indirect competitors within your industry or market niche.
Competitive Advantage: Determine the unique selling points (USPs) that set your project apart from competitors. What value can you offer that others cannot?
SWOT Analysis for Competitors: Conduct a SWOT analysis for each competitor to assess their strengths, weaknesses, opportunities, and threats.
Market Share Assessment: Analyze each competitor's market share and market penetration strategies.
Pricing Strategies: Investigate the pricing strategies employed by competitors and consider how your pricing strategy will compare.

Leveraging the power of data collection and analysis is essential in gaining a competitive edge. With Appinio , you can efficiently gather critical insights about your competitors, their strengths, and weaknesses. Seamlessly integrate these findings into your market feasibility study, empowering your project with a strategic advantage.

Demand and Supply Assessment

Understanding supply and demand dynamics is crucial for gauging market sustainability and potential challenges.

Market Demand Analysis: Estimate the current and future demand for your product or service. Consider factors like seasonality and trends.
Supply Evaluation: Assess the availability of resources, suppliers, and distribution channels required to meet the expected demand.
Market Saturation: Determine whether the market is saturated with similar offerings and how this might affect your project.
Demand Forecasting: Use historical data and market trends to make informed projections about future demand.
Scalability: Consider the scalability of your project to meet increased demand or potential fluctuations.

A comprehensive market feasibility study will give you valuable insights into your potential customer base, market dynamics, and competitive landscape. This information will be pivotal in shaping your project's direction and strategy.

How to Conduct a Technical Feasibility Study?

The technical feasibility study assesses the practicality of implementing your project from a technical standpoint. It involves evaluating the project's design, technical requirements, technological feasibility, resource availability, and risk analysis. Let's delve into each aspect in more detail.

1. Project Design and Technical Requirements

The project design and technical requirements are the foundation of your technical feasibility study. This phase involves defining the technical specifications and infrastructure needed to execute your project successfully.

Technical Specifications: Clearly define the technical specifications of your project, including hardware, software, and any specialized equipment.
Infrastructure Planning: Determine the physical infrastructure requirements, such as facilities, utilities, and transportation logistics.
Development Workflow: Outline the workflow and processes required to design, develop, and implement the project.
Prototyping: Consider creating prototypes or proof-of-concept models to test and validate the technical aspects of your project.

2. Technology Assessment

A critical aspect of the technical feasibility study is assessing the technology required for your project and ensuring it aligns with your goals.

Technology Suitability: Evaluate the suitability of the chosen technology for your project. Is it the right fit, or are there better alternatives?
Scalability and Compatibility: Assess whether the chosen technology can scale as your project grows and whether it is compatible with existing systems or software.
Security Measures: Consider cybersecurity and data protection measures to safeguard sensitive information.
Technical Expertise: Ensure your team or external partners possess the technical expertise to implement and maintain the technology.

3. Resource Evaluation

Resource evaluation involves assessing the availability of the essential resources required to execute your project successfully. These resources include personnel, materials, and suppliers.

Human Resources: Evaluate whether you have access to skilled personnel or if additional hiring or training is necessary.
Material Resources: Identify the materials and supplies needed for your project and assess their availability and costs.
Supplier Relationships: Establish relationships with reliable suppliers and consistently assess their ability to meet your resource requirements.

4. Risk Analysis

Risk analysis is a critical component of the technical feasibility study, as it helps you anticipate and mitigate potential technical challenges and setbacks.

Identify Risks: Identify potential technical risks, such as hardware or software failures, technical skill gaps, or unforeseen technical obstacles.
Risk Mitigation Strategies: Develop strategies to mitigate identified risks, including contingency plans and resource allocation for risk management.
Cost Estimation for Risk Mitigation: Assess the potential costs associated with managing technical risks and incorporate them into your project budget.

By conducting a thorough technical feasibility study, you can ensure that your project is technically viable and well-prepared to overcome technical challenges. This assessment will also guide decision-making regarding technology choices, resource allocation, and risk management strategies.

How to Conduct a Financial Feasibility Study?

The financial feasibility study is a critical aspect of your overall feasibility analysis. It focuses on assessing the financial viability of your project by estimating costs, projecting revenue, conducting investment analysis, and evaluating the overall financial health of your project. Let's delve into each aspect in more detail.

1. Cost Estimation

Cost estimation is the process of calculating the expenses associated with planning, developing, and implementing your project. This involves identifying both initial and ongoing costs.

Initial Costs: Calculate the upfront expenses required to initiate the project, including capital expenditures, equipment purchases, and any development costs.
Operational Costs: Estimate the ongoing operating expenses, such as salaries, utilities, rent, marketing, and maintenance.
Contingency Funds: Allocate funds for unexpected expenses or contingencies to account for unforeseen challenges.
Depreciation: Consider the depreciation of assets over time, as it impacts your financial statements.

2. Revenue Projections

Revenue projections involve forecasting the income your project is expected to generate over a specific period. Accurate revenue projections are crucial for assessing the project's financial viability.

Sales Forecasts: Estimate your product or service sales based on market demand, pricing strategies, and potential growth.
Pricing Strategy: Determine your pricing strategy, considering factors like competition, market conditions, and customer willingness to pay.
Market Penetration: Analyze how quickly you can capture market share and increase sales over time.
Seasonal Variations: Account for any seasonal fluctuations in revenue that may impact your cash flow.

3. Investment Analysis

Investment analysis involves evaluating the potential return on investment (ROI) and assessing the attractiveness of your project to potential investors or stakeholders.

Return on Investment (ROI): Calculate the expected ROI by comparing the project's net gains against the initial investment.
Payback Period: Determine how long it will take for the project to generate sufficient revenue to cover its initial costs.
Risk Assessment: Consider the level of risk associated with the project and whether it aligns with investors' risk tolerance.
Sensitivity Analysis: Perform sensitivity analysis to understand how changes in key variables, such as sales or costs, affect the investment's profitability.

4. Financial Viability Assessment

A financial viability assessment evaluates the project's ability to sustain itself financially in the long term. It considers factors such as profitability, cash flow, and financial stability.

Profitability Analysis: Assess whether the project is expected to generate profits over its lifespan.
Cash Flow Management: Analyze the project's cash flow to ensure it can cover operating expenses, debt payments, and other financial obligations.
Break-Even Analysis: Determine the point at which the project's revenue covers all costs, resulting in neither profit nor loss.
Financial Ratios: Calculate key financial ratios, such as debt-to-equity ratio and return on equity, to evaluate the project's financial health.

By conducting a comprehensive financial feasibility study, you can gain a clear understanding of the project's financial prospects and make informed decisions regarding its viability and potential for success.

How to Conduct an Operational Feasibility Study?

The operational feasibility study assesses whether your project can be implemented effectively within your organization's operational framework. It involves evaluating processes, resource planning, scalability, and analyzing potential operational risks.

1. Process and Workflow Assessment

The process and workflow assessment examines how the project integrates with existing processes and workflows within your organization.

Process Mapping: Map out current processes and workflows to identify areas of integration and potential bottlenecks.
Workflow Efficiency: Assess the efficiency and effectiveness of existing workflows and identify opportunities for improvement.
Change Management: Consider the project's impact on employees and plan for change management strategies to ensure a smooth transition.

2. Resource Planning

Resource planning involves determining the human, physical, and technological resources needed to execute the project successfully.

Human Resources: Assess the availability of skilled personnel and consider whether additional hiring or training is necessary.
Physical Resources: Identify the physical infrastructure, equipment, and materials required for the project.
Technology and Tools: Ensure that the necessary technology and tools are available and up to date to support project implementation.

3. Scalability Evaluation

Scalability evaluation assesses whether the project can adapt and expand to meet changing demands and growth opportunities.

Scalability Factors: Identify factors impacting scalability, such as market growth, customer demand, and technological advancements.
Capacity Planning: Plan for the scalability of resources, including personnel, infrastructure, and technology.
Growth Strategies: Develop strategies for scaling the project, such as geographic expansion, product diversification, or increasing production capacity.

4. Operational Risk Analysis

Operational risk analysis involves identifying potential operational challenges and developing mitigation strategies.

Risk Identification: Identify operational risks that could disrupt project implementation or ongoing operations.
Risk Mitigation: Develop risk mitigation plans and contingency strategies to address potential challenges.
Testing and Simulation: Consider conducting simulations or testing to evaluate how the project performs under various operational scenarios.
Monitoring and Adaptation: Implement monitoring and feedback mechanisms to detect and address operational issues as they arise.

Conducting a thorough operational feasibility study ensures that your project aligns with your organization's capabilities, processes, and resources. This assessment will help you plan for a successful implementation and minimize operational disruptions.

How to Write a Feasibility Study?

The feasibility study report is the culmination of your feasibility analysis. It provides a structured and comprehensive document outlining your study's findings, conclusions, and recommendations. Let's explore the key components of the feasibility study report.

1. Structure and Components

The structure of your feasibility study report should be well-organized and easy to navigate. It typically includes the following components:

Executive Summary: A concise summary of the study's key findings, conclusions, and recommendations.
Introduction: An overview of the project, the objectives of the study, and a brief outline of what the report covers.
Methodology: A description of the research methods , data sources, and analytical techniques used in the study.
Market Feasibility Study: Detailed information on market research, target audience, competitive analysis, and demand-supply assessment.
Technical Feasibility Study: Insights into project design, technical requirements, technology assessment, resource evaluation, and risk analysis.
Financial Feasibility Study: Comprehensive information on cost estimation, revenue projections, investment analysis, and financial viability assessment.
Operational Feasibility Study: Details on process and workflow assessment, resource planning, scalability evaluation, and operational risks analysis.
Conclusion: A summary of key findings and conclusions drawn from the study.

Recommendations: Clear and actionable recommendations based on the study's findings.

2. Write the Feasibility Study Report

When writing the feasibility study report, it's essential to maintain clarity, conciseness, and objectivity. Use clear language and provide sufficient detail to support your conclusions and recommendations.

Be Objective: Present findings and conclusions impartially, based on data and analysis.
Use Visuals: Incorporate charts, graphs, and tables to illustrate key points and make the report more accessible.
Cite Sources: Properly cite all data sources and references used in the study.
Include Appendices: Attach any supplementary information, data, or documents in appendices for reference.

3. Present Findings and Recommendations

When presenting your findings and recommendations, consider your target audience. Tailor your presentation to the needs and interests of stakeholders, whether they are investors, executives, or decision-makers.

Highlight Key Takeaways: Summarize the most critical findings and recommendations upfront.
Use Visual Aids: Create a visually engaging presentation with slides, charts, and infographics.
Address Questions: Be prepared to answer questions and provide additional context during the presentation.
Provide Supporting Data: Back up your findings and recommendations with data from the feasibility study.

4. Review and Validation

Before finalizing the feasibility study report, conducting a thorough review and validation process is crucial. This ensures the accuracy and credibility of the report.

Peer Review: Have colleagues or subject matter experts review the report for accuracy and completeness.
Data Validation: Double-check data sources and calculations to ensure they are accurate.
Cross-Functional Review: Involve team members from different disciplines to provide diverse perspectives.
Stakeholder Input: Seek input from key stakeholders to validate findings and recommendations.

By following a structured approach to creating your feasibility study report, you can effectively communicate the results of your analysis, support informed decision-making, and increase the likelihood of project success.

Feasibility Study Examples

Let's dive into some real-world examples to truly grasp the concept and application of feasibility studies. These examples will illustrate how various types of projects and businesses undergo the feasibility assessment process to ensure their viability and success.

Example 1: Local Restaurant

Imagine you're passionate about opening a new restaurant in a bustling urban area. Before investing significant capital, you'd want to conduct a thorough feasibility study. Here's how it might unfold:

Market Feasibility: You research the local dining scene, identify target demographics, and assess the demand for your cuisine. Market surveys reveal potential competitors, dining preferences, and pricing expectations.
Technical Feasibility: You design the restaurant layout, plan the kitchen setup, and assess the technical requirements for equipment and facilities. You consider factors like kitchen efficiency, safety regulations, and adherence to health codes.
Financial Feasibility: You estimate the initial costs for leasing or purchasing a space, kitchen equipment, staff hiring, and marketing. Revenue projections are based on expected foot traffic, menu pricing, and seasonal variations.
Operational Feasibility: You create kitchen and service operations workflow diagrams, considering staff roles and responsibilities. Resource planning includes hiring chefs, waitstaff, and kitchen personnel. Scalability is evaluated for potential expansion or franchising.
Risk Analysis: Potential operational risks are identified, such as food safety concerns, labor shortages, or location-specific challenges. Risk mitigation strategies involve staff training, quality control measures, and contingency plans for unexpected events.

Example 2: Software Development Project

Now, let's explore the feasibility study process for a software development project, such as building a mobile app:

Market Feasibility: You analyze the mobile app market, identify your target audience, and assess the demand for a solution in a specific niche. You gather user feedback and conduct competitor analysis to understand the competitive landscape.
Technical Feasibility: You define the technical requirements for the app, considering platforms (iOS, Android), development tools, and potential integrations with third-party services. You evaluate the feasibility of implementing specific features.
Financial Feasibility: You estimate the development costs, including hiring developers, designers, and ongoing maintenance expenses. Revenue projections are based on app pricing, potential in-app purchases, and advertising revenue.
Operational Feasibility: You map out the development workflow, detailing the phases from concept to deployment. Resource planning includes hiring developers with the necessary skills, setting up development environments, and establishing a testing framework.
Risk Analysis: Potential risks like scope creep, technical challenges, or market saturation are assessed. Mitigation strategies involve setting clear project milestones, conducting thorough testing, and having contingency plans for technical glitches.

These examples demonstrate the versatility of feasibility studies across diverse projects. Whatever type of venture or endeavor you want to embark on, a well-structured feasibility study guides you toward informed decisions and increased project success.

In conclusion, conducting a feasibility study is a crucial step in your project's journey. It helps you assess the viability and potential risks, providing a solid foundation for informed decision-making. Remember, a well-executed feasibility study not only enables you to identify challenges but also uncovers opportunities that can lead to your project's success.

By thoroughly examining market trends, technical requirements, financial aspects, and operational considerations, you are better prepared to embark on your project confidently. With this guide, you've gained the knowledge and tools needed to navigate the intricate terrain of feasibility studies.

How to Conduct a Feasibility Study in Minutes?

Speed and precision are paramount for feasibility studies, and Appinio delivers just that. As a real-time market research platform, Appinio empowers you to seamlessly conduct your market research in a matter of minutes, putting actionable insights at your fingertips.

Here's why Appinio stands out as the go-to tool for feasibility studies:

Rapid Insights: Appinio's intuitive platform ensures that anyone, regardless of their research background, can effortlessly navigate and conduct research, saving valuable time and resources.
Lightning-Fast Responses: With an average field time of under 23 minutes for 1,000 respondents, Appinio ensures that you get the answers you need when you need them, making it ideal for time-sensitive feasibility studies.
Global Reach: Appinio's extensive reach spans over 90 countries, allowing you to define the perfect target group from a pool of 1,200+ characteristics and gather insights from diverse markets.

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Apa Itu Market Research dan Bagaimana Cara Melakukannya?

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Pernahkah Anda mendengar istilah market research ? Apa itu market research ? Biasanya, istilah ini digunakan untuk kegiatan bisnis dan marketing untuk melihat bagaimana tren yang ada di pasaran saat ini. Hal yang diteliti umumnya meliputi bagaimana kebutuhan masyarakat saat ini, jenis produk yang banyak dicari, merek apa yang mendominasi untuk produk-produk tersebut, termasuk ke strategi bisnis dan pemasaran yang banyak dipakai oleh para kompetitor.

Agar lebih jelas, di bawah ini kami telah merangkum untuk Anda pengertian market research , manfaatnya bagi bisnis, serta cara tepat untuk melakukannya.

Apa Itu Market Research?

Market research atau riset pasar adalah proses penelitian yang dilakukan oleh sebuah perusahaan atau organisasi untuk membantu membuat keputusan yang lebih baik. Kegiatan di dalamnya meliputi pengumpulan data, analisis, dan interpretasi ke bentuk-bentuk data yang lebih sesuai dengan apa yang sedang dicari.

Misalnya, Anda baru merencanakan untuk mendirikan sebuah perusahaan yang berfokus menyediakan jasa pembuatan landing page . Maka Anda perlu melakukan market research terkait tingkat kebutuhan pelanggan akan landing page . Jika ternyata cukup tinggi, Anda bisa lanjut mencari informasi terkait siapa saja yang dapat Anda jadikan target pasar.

Lalu, pada kompetitor Anda perlu melihat bagaimana mereka bisa menguasai lahan ini. Tentang mengapa customer sangat menyukai produk dari merek A. Apakah soal kualitas produk yang ditawarkan, pelayanannya, harga, atau faktor lain yang bahkan tidak terduga.

Contoh lainnya, ketika Anda bahkan belum sama sekali mengetahui apa yang harus Anda jual. Anda bisa melakukan research terkait kebutuhan atau tren yang ada saat ini. Kumpulkan data dan lihat apakah ada peluang atau celah yang dapat Anda masuki.

Contoh lainnya lagi sudah di tingkat yang lebih jauh. Anda bisa melakukan market research untuk kebutuhan pengembangan strategi campaign baru. Misalnya untuk bisnis F&B, Anda perlu tahu adakah promosi khusus yang dapat menarik pelanggan. Untuk ini, Anda dapat mengamati kecenderungan pelanggan produk atau layanan tertentu terhadap diskon, cashback , point system , dan sebagainya.

Pada akhirnya, output dari market research yang Anda lakukan akan berupa informasi yang dapat Anda gunakan sebagai acuan dalam membuat keputusan. Melakukan riset pasar bukan berarti Anda harus mengikuti semua berdasarkan informasi yang Anda dapatkan. Ini hanya sebuah metode pertimbangan agar dalam membuat keputusan bisnis, Anda memiliki koridor yang terarah.

Bagaimana Cara Melakukan Market Research?

Untuk menghasilkan informasi yang valid dan baik dalam market research , Anda perlu melewati beberapa tahapan. Berikut ini akan kami jelaskan masing-masingnya.

1. Kenali Posisi Anda

Pertama-tama, Anda perlu mengenali di mana Anda atau bisnis Anda berada saat ini. Seperti contoh-contoh yang sudah kami sebutkan di atas, posisi Anda akan menentukan kelanjutan proses market research yang harus Anda lakukan.

Kami punya beberapa pertanyaan untuk Anda jawab yang dapat memberi tahu Anda di mana sebenarnya posisi Anda dalam bisnis.

Apakah Anda sudah memiliki brand atau baru merencanakan bisnis?
Apakah Anda hendak meluncurkan produk baru?
Apakah Anda sedang mempertimbangkan untuk mengubah atau meningkatkan strategi marketing Anda terhadap produk yang sudah ada?
Apakah Anda sudah memiliki bisnis yang berjalan dengan cukup baik, namun merasa perlu mengembangkannya?

2. Tentukan Tujuan

Poin pertama yang baru saja kami sampaikan sangat berhubungan erat dengan penentuan tujuan di poin kedua ini. Jika sudah mengetahui di mana posisi Anda, Anda akan lebih terarah pada tujuan untuk market research yang sebenarnya. Lagi-lagi, untuk membantu Anda kami sediakan list pertanyaannya di bawah ini.

Apa yang ingin Anda ketahui tentang kondisi pasar saat ini?
Apa yang ingin Anda ketahui tentang persaingan bisnis Anda?
Apa Anda ingin memasuki segmen pasar baru?
Apa Anda ingin meningkatkan penjualan atau mendapatkan leads?
Apa Anda ingin meningkatkan awareness merek Anda?
Apa Anda ingin meningkatkan customer repeat order dan retention rate bisnis Anda?

3. Tentukan Metode Research

Ada beberapa metode market research yang umum digunakan, di antaranya survei, wawancara, observasi, dan analisis data sekunder. Anda perlu menentukan metode mana yang akan Anda gunakan. Ingat selalu, bahwa ini berkaitan dengan tujuan Anda.

Misalnya, jika tujuan Anda adalah meningkatkan customer retention , survei adalah metode yang paling tepat untuk mengumpulkan informasi secara langsung dari existing customer Anda. Begitu pula tujuan lain, mereka memiliki metode yang paling tepat untuk meraihnya.

Tips: Anda bisa melakukan survei dengan mudah menggunakan online survey form yang dikirimkan melalui email marketing atau dipasang di dalam website/page . Tool Customer Data Collection kami dapat membantu Anda dalam hal ini. Di dalamnya telah tersedia template siap jadi, instant form format, dan juga fitur integrasi ke API.

4. Tentukan Populasi dan Sampel

Populasi adalah kelompok orang atau organisasi yang ingin Anda teliti, sedangkan sampel adalah sebagian kecil dari populasi tersebut. Anda perlu menentukan keduanya bergantung pada tingkat akurasi yang Anda harapkan.

Selain jumlahnya, Anda juga perlu memperhatikan persebaran dari populasi dan sampel yang Anda pilih. Akan berbeda hasilnya, jika Anda meneliti 100 sampel di populasi yang sama dengan masing-masing 20 sampel di 5 populasi yang berbeda.

5. Lakukan Pengumpulan Data

Setelah Anda menentukan populasi dan sampel yang akan diteliti, Anda bisa melanjutkan ke tahapan selanjutnya, yaitu pengumpulan data. Adapun data-data ini sesuai dengan apa yang sudah Anda rumuskan dalam tujuan market research . Misalnya Anda ingin meraih banyak leads, berarti Anda perlu data terkait lead magnet apa yang paling efektif pada jenis bisnis Anda, bagaimana concern pelanggan terkait pemberian informasi pribadi mereka, dan lain sebagainya.

6. Lakukan Analisis Data

Untuk membentuk sebuah informasi, data-data yang ada perlu dikelompokkan dan dianalisis. Anda dapat menggunakan metode statistik, analisis SWOT , atau analisis kebutuhan pelanggan. Agar lebih terstruktur, Anda juga bisa menggunakan bantuan tools pengelola data seperti CDP .

7. Buat Laporan

Agar informasi yang telah Anda dapatkan dari market research dapat terus dipakai, sebaiknya Anda membuat laporan. Tuliskan apa saja yang telah Anda dapatkan dari proses penelitian, bagaimana sekiranya informasi tersebut akan berguna dalam kegiatan bisnis dan marketing Anda.

Demikian yang dapat kami sampaikan terkait market research dalam kegiatan bisnis dan marketing. Anda bisa mendapatkan lebih banyak informasi lainnya terkait digital marketing pada blog kami . Anda juga bisa mencoba layanan email capabilities kami secara gratis dengan mendaftarkan diri di sini .

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Panduan SEO

Market Research: Pengertian, Tujuan, dan Cara Melakukannya

Terakhir diperbarui: Jul 11, 2024

Disclaimer: Panduan SEO cmlabs ini berisi informasi lengkap tentang SEO, seperti pengantar dan panduan umum. Anda mungkin saja mengunjungi laman SEO Terms di cmlabs.co melalui pihak ketiga atau tautan website asing. Kami tidak bertanggung jawab atas keakuratan atau keandalan informasi apa pun yang ditawarkan oleh situs web pihak ketiga.

Market research adalah proses dalam bisnis yang bertujuan untuk memahami pasar, pelanggan, dan pesaing.

Dengan menganalisis data dan informasi yang diperoleh dari market research , perusahaan dapat membuat keputusan yang lebih baik dan efektif dalam mengembangkan produk, meningkatkan layanan, dan menjadi lebih unggul dibanding kompetitor.

Pada artikel berikut ini, Anda dapat mengetahui apa itu market research, manfaat, metode, serta bagaimana cara melakukan market research agar memperoleh hasil maksimal.

Apa itu Market Research ?

Ilustrasi pebisnis melakukan riset pasar (market research).

Studi pasar atau market research adalah proses mengumpulkan, menganalisis, dan menginterpretasikan informasi tentang target pelanggan, pesaing, dan kondisi industri perusahaan.

Salah satu manfaat market research adalah perusahaan dapat memperoleh informasi mendalam tentang berbagai faktor yang berhubungan dengan bisnis, seperti kebutuhan dan preferensi pelanggan, citra merek, serta konsekuensi dari keputusan investasi dan strategi bisnis.

Terdapat dua jenis utama riset pasar, yaitu riset primer yang melibatkan pengumpulan data langsung dari sumber pertama, dan riset sekunder yang menggunakan informasi yang sudah ada serta catatan publik. Umumnya, metode dari market research adalah survei, kelompok fokus, wawancara, dan riset online.

Melalui pemahaman yang mendalam terhadap audiens target, pesaing, dan kondisi pasar secara keseluruhan, perusahaan dapat membuat keputusan yang lebih tepat, mengidentifikasi peluang baru, dan mengurangi risiko yang mungkin terjadi.

Tujuan Market Research

Setelah memahami apa itu market research , tentunya riset ini memiliki tujuan spesifik dalam praktiknya. Berikut tujuan market research yang perlu Anda ketahui.

1. Evaluating

Produk atau layanan yang sudah ada di pasar harus dievaluasi. Dari evaluasi ini, Anda bisa mengetahui hal-hal yang harus diperbaiki dan ditingkatkan agar dapat memenuhi kebutuhan pelanggan, atau ternyata brand Anda memerlukan penyesuaian harga atau strategi pemasaran.

2. Understanding

Dengan memahami pasar dan pelanggan, bisnis dapat mengidentifikasi peluang dan tantangan serta memahami preferensi dan kebutuhan pelanggan.

Artinya, tujuan market research adalah membantu bisnis mengembangkan produk atau layanan yang sesuai dengan permintaan pasar hingga meningkatkan kepuasan pelanggan.

3. Predicting

Tujuan selanjutnya dalam market research adalah melibatkan prediksi tentang perilaku pasar di masa depan.

Dengan menganalisis data pasar dan tren industri saat ini, Anda bisa membuat prediksi mengenai kebutuhan pelanggan dan mempersiapkan strategi bisnis untuk menghadapi perubahan pasar.

4. Controlling

Market research adalah strategi yang dapat membantu Anda mengendalikan bisnis dan memantau kinerja produk atau layanan.

Anda bisa melihat apakah bisnis sudah berjalan dengan baik atau perlu evaluasi. Sehingga, Anda bisa memastikan produk atau layanan tetap relevan dan berkualitas saat beredar di pasar.

Cara Melakukan Market Research

Setelah mengetahui tujuannya, Anda dapat langsung mempelajari langkah-langkah dalam melakukan market research. Berikut adalah cara melakukan market research .

1. Evaluasi Posisi Anda

Cara melakukan market research yang pertama adalah memamahi dengan jelas tentang posisi Anda atau bisnis Anda saat ini.

Evaluasi apakah Anda sudah memiliki brand atau sedang merencanakan bisnis baru, apakah ada rencana untuk meluncurkan produk baru, mempertimbangkan strategi pemasaran produk yang sudah ada, atau pun mengembangkan bisnis secara keseluruhan.

2. Tentukan Tujuan dan Target Market Research

Setelah mengetahui posisi Anda, tetapkan tujuan riset dengan jelas. Setiap riset harus berfokus pada memecahkan masalah tertentu, seperti mengetahui preferensi konsumen, memperkenalkan merek, atau mengevaluasi efektivitas berbagai jenis kampanye iklan.

Anda juga harus menentukan target audiens dari riset tersebut. Anda juga harus memilih dengan cermat siapa yang akan menjadi subjek riset dan mempertimbangkan potensi kesalahan statistik atau bias dalam pengambilan sampel.

3. Menentukan Metode Riset yang Sesuai

Selanjutnya, tentukan metode riset pasar yang Anda akan gunakan. Terdapat beragam metode riset mulai dari survei, wawancara, kelompok fokus, segmentasi pasar, riset kepuasan atau kesetiaan pelanggan hingga riset observasi.

Sesuaikan metode riset dengan tujuan dan sampel riset pasar Anda agar mendapatkan hasil yang sesuai dengan kebutuhan bisnis Anda.

4. Tentukan Populasi atau Sampel yang Ingin Dianalisis

Setelah menentukan metode riset, identifikasi populasi yang ingin Anda teliti dan tentukan sampel yang representatif dari populasi tersebut.

Populasi ini bisa mencakup berbagai kelompok seperti pelanggan potensial, pelanggan yang sudah ada, atau bahkan sektor industri tertentu.

Setelah mengidentifikasi populasi, langkah selanjutnya adalah menentukan sampel yang representatif (karakteristik utama) dari populasi tersebut.

Pertimbangkan juga jumlah sampel, karena ukuran sampel yang terlalu kecil dapat menghasilkan kesimpulan yang tidak akurat, sementara jika terlalu besar dapat menghabiskan sumber daya yang tidak perlu.

5. Mengumpulkan dan Menganalisis Hasil Data

Langkah selanjutnya dari market research adalah mengumpulkan data dan menganalisis hasilnya. Setelah hasil riset sudah terkumpul secara lengkap dari setiap responded, saatnya melakukan analisis lebih lanjut.

Data tersebut akan dianalisis dalam sebuah laporan pemasaran yang menjelaskan hasil dari riset. Setelah hasil telah diperoleh dan disusun, laporan ini bisa menjadi pertimbangan untuk pengambilan keputusan perusahaan.

Demikian penjelasan tentang apa itu market research, tujuan, serta bagaimana cara melakukannya untuk mengumpulkan data yang relevan dan menghadapi persaingan pasar.

Sebagai pebisnis, Anda tidak boleh ragu untuk mengintegrasikan market research karena hal ini akan membantu Anda mengambil keputusan yang lebih baik, meningkatkan kepuasan pelanggan , dan mencapai pertumbuhan yang berkelanjutan.

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How to conduct a feasibility study: Templates and examples

Conducting a feasibility study is an important step in successful project management. By evaluating the viability of a proposed project, a feasibility study helps you identify potential challenges and opportunities, ensuring you make informed decisions. In this guide, we’ll walk you through how to conduct a feasibility study with practical templates and real-world examples, designed for project managers seeking to optimize their project planning process.

It can be exciting to run a large, complex project that has a huge potential impact on your organization. On the one hand, you’re driving real change. On the other hand, failure is intimidating.

What is a feasibility study?

A feasibility study—sometimes called a feasibility analysis or feasibility report—is a way to evaluate whether or not a project plan could be successful. A feasibility study evaluates the practicality of your project plan in order to judge whether or not you’re able to move forward with the project.

It does so by answering two questions:

Does our team have the required tools or resources to complete this project?

Will there be a high enough return on investment to make the project worth pursuing?

Benefits of conducting a feasibility study

There are several key benefits to conducting a feasibility study before launching a new project:

Confirms market opportunities and the target market before investing significant resources

Identifies potential issues and risks early on

Provides in-depth data for better decision making on the proposed project's viability

Creates documentation on expected costs and benefits, including financial analysis

Obtains stakeholder buy-in by demonstrating due diligence

Feasibility studies are important for projects that represent significant investments for your business. Projects that also have a large potential impact on your presence in the market may also require a feasibility assessment.

As the project manager , you may not be directly responsible for driving the feasibility study, but it’s important to know what these studies are. By understanding the different elements that go into a feasibility study, you can better support the team driving the feasibility study and ensure the best outcome for your project.

When should you conduct a feasibility analysis?

A feasibility study should be conducted after the project has been pitched but before any work has actually started. The study is part of the project planning process. In fact, it’s often done in conjunction with a SWOT analysis or project risk assessment , depending on the specific project.

Feasibility studies help:

Confirm market opportunities before committing to a project

Narrow your business alternatives

Create documentation about the benefits and disadvantages of your proposed initiative

Provide more information before making a go-or-no-go decision

You likely don’t need a feasibility study if:

You already know the project is feasible

You’ve run a similar project in the past

Your competitors are succeeding with a similar initiative in market

The project is small, straightforward, and has minimal long-term business impact

Your team ran a similar feasibility analysis within the past three years

One thing to keep in mind is that a feasibility study is not a project pitch. During a project pitch, you’re evaluating whether or not the project is a good idea for your company and whether the goals of the project are in line with your overall strategic plan. Typically, once you’ve established that the project is a good idea, you'll run a feasibility study to confirm that the project is possible with the tools and resources you have at your disposal.

Types of feasibility studies

There are five main types of feasibility studies: technical feasibility, financial feasibility, market feasibility (or market fit), operational feasibility, and legal feasibility. Most comprehensive feasibility studies will include an assessment of all five of these areas.

Technical feasibility

A technical feasibility study reviews the technical resources available for your project. This study determines if you have the right equipment, enough equipment, and the right technical knowledge to complete your project objectives . For example, if your project plan proposes creating 50,000 products per month, but you can only produce 30,000 products per month in your factories, this project isn’t technically feasible.

Financial feasibility

Financial feasibility describes whether or not your project is fiscally viable. A financial feasibility report includes a cost-benefit analysis of the project. It also forecasts an expected return on investment (ROI) and outlines any financial risks. The goal at the end of the financial feasibility study is to understand the economic benefits the project will drive.

Market feasibility

The market feasibility study is an evaluation of how your team expects the project’s deliverables to perform in the market. This part of the report includes a market analysis, a market competition breakdown, and sales projections.

Operational feasibility

An operational feasibility study evaluates whether or not your organization is able to complete this project. This includes staffing requirements, organizational structure, and any applicable legal requirements. At the end of the operational feasibility study, your team will have a sense of whether or not you have the resources, skills, and competencies to complete this work.

Legal feasibility

A legal feasibility analysis assesses whether the proposed project complies with all relevant legal requirements and regulations. This includes examining legal and regulatory barriers, necessary permits, licenses, or certifications, potential legal liabilities or risks, and intellectual property considerations. The legal feasibility study ensures that the project can be completed without running afoul of any laws or incurring undue legal exposure for the organization.

Feasibility assessment checklist

Most feasibility studies are structured in a similar way. These documents serve as an assessment of the practicality of a proposed business idea. Creating a clear feasibility study helps project stakeholders during the decision making process.

The essential elements of a feasibility study are:

An executive summary describing the project’s overall viability

A description of the product or service being developed during this project

Any technical considerations , including technology, equipment, or staffing

The market survey , including a study of the current market and the marketing strategy

The operational feasibility study evaluates whether or not your team’s current organizational structure can support this initiative

The project timeline

Financial projections based on your financial feasibility report

6 steps to conduct a feasibility study

You likely won’t be conducting the feasibility study yourself, but you will probably be called on to provide insight and information. To conduct a feasibility study, hire a trained consultant or, if you have an in-house project management office (PMO) , ask if they take on this type of work. In general, here are the steps they’ll take to complete this work:

1. Run a preliminary analysis

Creating a feasibility study is a time-intensive process. Before diving into the feasibility study, it’s important to evaluate the project for any obvious and insurmountable roadblocks. For example, if the project requires significantly more budget than your organization has available, you likely won’t be able to complete it. Similarly, if the project deliverables need to be live and in the market by a certain date but won’t be available for several months after that, the project likely isn’t feasible either. These types of large-scale obstacles make a feasibility study unnecessary because it’s clear the project is not viable.

2. Evaluate financial feasibility

Think of the financial feasibility study as the projected income statement for the project. This part of the feasibility study clarifies the expected project income and outlines what your organization needs to invest—in terms of time and money—in order to hit the project objectives.

During the financial feasibility study, take into account whether or not the project will impact your business's cash flow. Depending on the complexity of the initiative, your internal PMO or external consultant may want to work with your financial team to run a cost-benefit analysis of the project.

3. Run a market assessment

The market assessment, or market feasibility study, is a chance to identify the demand in the market. This study offers a sense of expected revenue for the project and any potential market risks you could run into.

The market assessment, more than any other part of the feasibility study, is a chance to evaluate whether or not there’s an opportunity in the market. During this study, it’s critical to evaluate your competitor’s positions and analyze demographics to get a sense of how the project will go.

4. Consider technical and operational feasibility

Even if the financials are looking good and the market is ready, this initiative may not be something your organization can support. To evaluate operational feasibility, consider any staffing or equipment requirements this project needs. What organizational resources—including time, money, and skills—are necessary in order for this project to succeed?

Depending on the project, it may also be necessary to consider the legal impact of the initiative. For example, if the project involves developing a new patent for your product, you will need to involve your legal team and incorporate that requirement into the project plan.

5. Review project points of vulnerability

At this stage, your internal PMO team or external consultant have looked at all four elements of your feasibility study—financials, market analysis, technical feasibility, and operational feasibility. Before running their recommendations by you and your stakeholders, they will review and analyze the data for any inconsistencies. This includes ensuring the income statement is in line with your market analysis. Similarly, now that they’ve run a technical feasibility study, are any liabilities too big of a red flag? (If so, create a contingency plan !)

Depending on the complexity of your project, there won’t always be a clear answer. A feasibility analysis doesn’t provide a black-and-white decision for a complex problem. Rather, it helps you come to the table with the right questions—and answers—so you can make the best decision for your project and for your team.

6. Propose a decision

The final step of the feasibility study is an executive summary touching on the main points and proposing a solution.

Depending on the complexity and scope of the project, your internal PMO or external consultant may share the feasibility study with stakeholders or present it to the group in order to field any questions live. Either way, with the study in hand, your team now has the information you need to make an informed decision.

Feasibility study examples

To better understand the concepts behind feasibility assessments, here are two hypothetical examples demonstrating how these studies can be applied in real-world scenarios.

Example 1: New product development

A consumer goods company is considering launching a new product line. Before investing in new product development, they conduct a feasibility study to assess the proposed project.

The feasibility study includes:

Market research to gauge consumer interest, assess competitor offerings, and estimate potential market share for the target market.

Technological considerations, including R&D requirements, production processes, and any necessary patents or certifications.

In-depth financial analysis projects sales volumes, revenue, costs, and profitability over a multi-year period.

Evaluation of organizational readiness, including the skills of the current management team and staff to bring the new product to market.

Assessment of legal feasibility to ensure compliance with regulations and identify any potential liability issues.

The comprehensive feasibility study identifies a promising market opportunity for the new business venture. The company decides to proceed with the new project, using the feasibility report as a template for their business development process. The study helps secure funding from key decision-makers, setting this start-up product initiative up for success.

Example 2: Real estate development deal

A property developer is evaluating the feasibility of purchasing land for a new residential community. They commission a feasibility study to determine the viability of this real estate development project.

The feasibility assessment covers:

Detailed analysis of the local housing market, including demand drivers, comparable properties, pricing, and absorption rates.

Site planning to assess the property's capacity, constraints, and technological considerations.

In-depth review of legal feasibility, including zoning, permitting, environmental regulations, and other potential legal hurdles.

Financial analysis modeling various development scenarios and estimating returns on investment.

Creation of an opening day balance sheet projecting the assets, liabilities, and equity for the proposed project.

Sensitivity analysis to evaluate the impact of changes in key assumptions on the project's scope and profitability.

The feasibility study concludes that while the real estate start-up is viable, it carries significant risk. Based on these findings, the developer makes an informed decision to move forward, but with a revised project's scope and a phased approach to mitigate risk. The comprehensive feasibility analysis proves critical in guiding this major investment decision.

Which phase of the project management process involves feasibility studies?

Feasibility studies are a key part of the project initiation and planning phases. They are typically conducted after a project has been conceptualized but before significant resources are invested in detailed planning and execution.

The purpose of a feasibility assessment is to objectively evaluate the viability of a proposed project, considering factors such as technical feasibility, market demand, financial costs and benefits, legal requirements, and organizational readiness. By thoroughly assessing these aspects, a feasibility study helps project stakeholders make an informed go-or-no-go decision.

While feasibility studies are a critical tool in the early stages of project management, they differ from other planning documents like project charters, business cases, and business plans. Here's a closer look at these key differences:

Feasibility study vs. project charter

A project charter is a relatively informal document to pitch your project to stakeholders. Think of the charter as an elevator pitch for your project objectives, scope, and responsibilities. Typically, your project sponsor or executive stakeholders review the charter before ratifying the project.

A feasibility study should be implemented after the project charter has been ratified. This isn’t a document to pitch whether or not the project is in line with your team’s goals—rather, it’s a way to ensure the project is something you and your team can accomplish.

Feasibility study vs. business case

A business case is a more formalized version of the project charter. While you’d typically create a project charter for small or straightforward initiatives, you should create a business case if you are pitching a large, complex initiative that will make a major impact on the business. This longer, more formal document will also include financial information and typically involve more senior stakeholders.

After your business case is approved by relevant stakeholders, you'll run a feasibility study to make sure the work is doable. If you find it isn’t, you might return to your executive stakeholders and request more resources, tools, or time in order to ensure your business case is feasible.

Feasibility study vs. business plan

A business plan is a formal document outlining your organization’s goals. You typically write a business plan when founding your company or when your business is going through a significant shift. Your business plan informs a lot of other business decisions, including your three- to five-year strategic plan .

As you implement your business and strategic plan, you’ll invest in individual projects. A feasibility study is a way to evaluate the practicality of any given individual project or initiative.

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What is a Market Feasibility Study?

Fahad Usmani, PMP

May 19, 2024

A market feasibility analysis is a part of a feasibility study that analyzes the market to determine whether there is sufficient demand for your product or service. It involves evaluating various factors (e.g., market size, growth potential, competition, target audience, and regulatory environment).

By gathering and analyzing relevant data, businesses can make informed decisions about the feasibility of their proposed endeavor.

In a market feasibility study, you can ask the following questions:

Who are my competitors?
What is driving the demand?
What is the supply chain for the intended product?
How will you set the price for your product?
What pricing model will you adopt?
Will the model be flexible or rigid?
What are the effects of the exchange rate, inflation, demographics, population increase, and urban-rural migration on price forecast?
Is the price dependent on an international benchmark (e.g., crude oil)?
What is the market history?
What is the market forecast?

Elements of Market Feasibility Analysis

A market feasibility study has the following key elements:

Understanding the Requirements: Prepare the list of key stakeholders and group the clients. If the client is the general public, then group them to collect their requirements. This exercise will ensure that businesses understand the requirements and that they will get approval for their ideas because it already includes the stakeholders’ and clients’ concerns.
Trend Analysis: Businesses must understand the market trend before launching any product or service. For example, if the market is saturated, then there is no point in launching a similar product or service, as it will only waste resources. This analysis can help businesses find gaps in requirements, market demographics, spending habits, consumption patterns, etc.
Competitor Analysis: This is the key component of market feasibility analysis. If the business intends to penetrate an existing or saturated market, this analysis provides information to take the necessary actions. Businesses can identify the gaps between the competitor and their product and improve their offering.

Importance of Market Feasibility Studies

Risk Management: Conducting a market feasibility study can help identify risks and challenges early, thus allowing businesses to manage them before investing their time and resources.
Understanding Market Demand: By studying consumer preferences, behaviors, and trends, businesses can gain a deeper understanding of market demand. This insight will allow them to tailor their offerings to effectively meet their audience’s needs.
Resource Allocation: A market feasibility study provides valuable data that can guide resource allocation decisions. Accurate market insights are essential for efficient resource management, whether it involves determining the optimal marketing channels or forecasting sales projections.
Attracting Investors: Investors are more likely to support a proposal that has undergone market analysis. A robust feasibility study shows that the business has researched the market and understands the business opportunity, which fills investors with confidence.

How to Conduct a Market Feasibility Study

You can follow these steps to conduct your market feasibility study:

Define the Objective: Define the objectives of your market feasibility study. Are you assessing the viability of a new product, entering a new market, or expanding an existing business?
Gather Data: Collect relevant data through primary and secondary research methods. Primary research involves gathering firsthand information through surveys, interviews, or focus groups, while secondary research involves analyzing existing data from sources (e.g., industry reports, market studies, and government publications).
Conduct Market Analysis: Analyze the target market’s size, growth potential, and dynamics. Identify trends, demographics, and consumer preferences that may impact your business.
Conduct Competitive Analysis: Assess the competitive landscape by identifying direct and indirect competitors. Analyze their strengths and weaknesses, then evaluate their market position and strategies.
Determine Your Target Audience: Define your target audience and understand their needs, preferences, and purchasing behaviors. This information will help you tailor your marketing strategies and product offerings to effectively engage and attract customers.
Develop Financial Projections: Based on your market research findings, develop realistic financial projections. This includes estimating sales volumes, pricing strategies, revenue forecasts, and cost projections to assess your endeavor’s potential profitability.

Launching a new product or service in a market is costly and requires a lot of effort. Therefore, conducting a market feasibility study is vital before entering the market. This analysis assesses your endeavor’s viability in the market and provides insights that can shape your business strategy and increase your chances of success.

I am Mohammad Fahad Usmani, B.E. PMP, PMI-RMP. I have been blogging on project management topics since 2011. To date, thousands of professionals have passed the PMP exam using my resources.

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What Is a Feasibility Study?

Understanding a feasibility study, how to conduct a feasibility study, the bottom line.

Business Essentials

Feasibility Study

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate.

A feasibility study is a detailed analysis that considers all of the critical aspects of a proposed project in order to determine the likelihood of it succeeding.

Success in business may be defined primarily by return on investment , meaning that the project will generate enough profit to justify the investment. However, many other important factors may be identified on the plus or minus side, such as community reaction and environmental impact.

Although feasibility studies can help project managers determine the risk and return of pursuing a plan of action, several steps should be considered before moving forward.

Key Takeaways

A company may conduct a feasibility study when it’s considering launching a new business, adding a new product line, or acquiring a rival.
A feasibility study assesses the potential for success of the proposed plan or project by defining its expected costs and projected benefits in detail.
It’s a good idea to have a contingency plan on hand in case the original project is found to be infeasible.

Lara Antal / Investopedia

A feasibility study is an assessment of the practicality of a proposed plan or project. A feasibility study analyzes the viability of a project to determine whether the project or venture is likely to succeed. The study is also designed to identify potential issues and problems that could arise while pursuing the project.

As part of the feasibility study, project managers must determine whether they have enough of the right people, financial resources, and technology. The study must also determine the return on investment, whether this is measured as a financial gain or a benefit to society, the latter in the case of a nonprofit project.

The feasibility study might include a cash flow analysis, measuring the level of cash generated from revenue vs. the project’s operating costs . A risk assessment must also be completed to determine whether the return is enough to offset the risk of undergoing the venture.

When doing a feasibility study, it’s always good to have a contingency plan that is ready to test as a viable alternative if the first plan fails.

Benefits of a Feasibility Study

There are several benefits to feasibility studies, including helping project managers discern the pros and cons of undertaking a project before investing a significant amount of time and capital into it.

Feasibility studies can also provide a company’s management team with crucial information that could prevent them from entering into a risky business venture.

Such studies help companies determine how they will grow. They will know more about how they will operate, what the potential obstacles are, who the competition is, and what the market is.

Feasibility studies also help convince investors and bankers that investing in a particular project or business is a wise choice.

The exact format of a feasibility study will depend on the type of organization that requires it. However, the same factors will be involved even if their weighting varies.

Preliminary Analysis

Although each project can have unique goals and needs, there are some best practices for conducting any feasibility study:

Conduct a preliminary analysis, which involves getting feedback about the new concept from the appropriate stakeholders.
Analyze and ask questions about the data obtained in the early phase of the study to make sure that it’s solid.
Conduct a market survey or market research to identify the market demand and opportunity for pursuing the project or business.
Write an organizational, operational, or business plan, including identifying the amount of labor needed, at what cost, and for how long.
Prepare a projected income statement, which includes revenue, operating costs, and profit .
Prepare an opening day balance sheet .
Identify obstacles and any potential vulnerabilities, as well as how to deal with them.
Make an initial “go” or “no-go” decision about moving ahead with the plan.

Suggested Components

Once the initial due diligence has been completed, the real work begins. Components that are typically found in a feasibility study include the following:

Executive summary : Formulate a narrative describing details of the project, product, service, plan, or business.
Technological considerations : Ask what will it take. Do you have it? If not, can you get it? What will it cost?
Existing marketplace : Examine the local and broader markets for the product, service, plan, or business.
Marketing strategy : Describe it in detail.
Required staffing : What are the human capital needs for this project? Draw up an organizational chart.
Schedule and timeline : Include significant interim markers for the project’s completion date.
Project financials
Findings and recommendations : Break down into subsets of technology, marketing, organization, and financials.

Examples of a Feasibility Study

Below are two examples of a feasibility study. The first involves expansion plans for a university. The second is a real-world example conducted by the Washington State Department of Transportation with private contributions from Microsoft Inc.

A University Science Building

Officials at a university were concerned that the science building—built in the 1970s—was outdated. Considering the technological and scientific advances of the last 20 years, they wanted to explore the cost and benefits of upgrading and expanding the building. A feasibility study was conducted.

In the preliminary analysis, school officials explored several options, weighing the benefits and costs of expanding and updating the science building. Some school officials had concerns about the project, including the cost and possible community opposition. The new science building would be much larger, and the community board had earlier rejected similar proposals. The feasibility study would need to address these concerns and any potential legal or zoning issues.

The feasibility study also explored the technological needs of the new science facility, the benefits to the students, and the long-term viability of the college. A modernized science facility would expand the school’s scientific research capabilities, improve its curriculum, and attract new students.

Financial projections showed the cost and scope of the project and how the school planned to raise the needed funds, which included issuing a bond to investors and tapping into the school’s endowment . The projections also showed how the expanded facility would allow more students to be enrolled in the science programs, increasing revenue from tuition and fees.

The feasibility study demonstrated that the project was viable, paving the way to enacting the modernization and expansion plans of the science building.

Without conducting a feasibility study, the school administrators would never have known whether its expansion plans were viable.

A High-Speed Rail Project

The Washington State Department of Transportation decided to conduct a feasibility study on a proposal to construct a high-speed rail that would connect Vancouver, British Columbia, Seattle, Washington, and Portland, Oregon. The goal was to create an environmentally responsible transportation system to enhance the competitiveness and future prosperity of the Pacific Northwest.

The preliminary analysis outlined a governance framework for future decision making. The study involved researching the most effective governance framework by interviewing experts and stakeholders, reviewing governance structures, and learning from existing high-speed rail projects in North America. As a result, governing and coordinating entities were developed to oversee and follow the project if it was approved by the state legislature.

A strategic engagement plan involved an equitable approach with the public, elected officials, federal agencies, business leaders, advocacy groups, and Indigenous communities. The engagement plan was designed to be flexible, considering the size and scope of the project and how many cities and towns would be involved. A team of the executive committee members was formed and met to discuss strategies, as well as lessons learned from previous projects, and met with experts to create an outreach framework.

The financial component of the feasibility study outlined the strategy for securing the project’s funding, which explored obtaining funds from federal, state, and private investments. The project’s cost was estimated to be $24 billion to $42 billion. The revenue generated from the high-speed rail system was estimated to be $160 million to $250 million.

The report bifurcated the money sources between funding and financing. Funding referred to grants, appropriations from the local or state government, and revenue. Financing referred to bonds issued by the government, loans from financial institutions, and equity investments, which are essentially loans against future revenue that need to be paid back with interest.

The sources for the capital needed were to vary as the project moved forward. In the early stages, most of the funding would come from the government, and as the project developed, funding would come from private contributions and financing measures. Private contributors included Microsoft Inc.

The benefits outlined in the feasibility report show that the region would experience enhanced interconnectivity, allowing for better management of the population and increasing regional economic growth by $355 billion. The new transportation system would provide people with access to better jobs and more affordable housing. The high-speed rail system would also relieve congested areas from automobile traffic.

The timeline for the study began in 2016, when an agreement was reached with British Columbia to work together on a new technology corridor that included high-speed rail transportation. The feasibility report was submitted to the Washington State Legislature in December 2020.

What Is the Main Objective of a Feasibility Study?

A feasibility study is designed to help decision makers determine whether or not a proposed project or investment is likely to be successful. It identifies both the known costs and the expected benefits.

In business, “successful” means that the financial return exceeds the cost. In a nonprofit, success may be measured in other ways. A project’s benefit to the community it serves may be worth the cost.

What Are the Steps in a Feasibility Study?

A feasibility study starts with a preliminary analysis. Stakeholders are interviewed, market research is conducted, and a business plan is prepared. All of this information is analyzed to make an initial “go” or “no-go” decision.

If it’s a go, the real study can begin. This includes listing the technological considerations, studying the marketplace, describing the marketing strategy, and outlining the necessary human capital, project schedule, and financing requirements.

Who Conducts a Feasibility Study?

A feasibility study may be conducted by a team of the organization’s senior managers. If they lack the expertise or time to do the work internally, it may be outsourced to a consultant.

What Are the 4 Types of Feasibility?

The study considers the feasibility of four aspects of a project:

Technical : A list of the hardware and software needed, and the skilled labor required to make them work

Financial : An estimate of the cost of the overall project and its expected return

Market : An analysis of the market for the product or service, the industry, competition, consumer demand, sales forecasts, and growth projections

Organizational : An outline of the business structure and the management team that will be needed

Feasibility studies help project managers determine the viability of a project or business venture by identifying the factors that can lead to its success. The study also shows the potential return on investment and any risks to the success of the venture.

A feasibility study contains a detailed analysis of what’s needed to complete the proposed project. The report may include a description of the new product or venture, a market analysis, the technology and labor needed, and the sources of financing and capital. The report will also include financial projections, the likelihood of success, and ultimately, a “go” or “no-go” decision.

Washington State Department of Transportation. “ Ultra-High-Speed Rail Study .”

Washington State Department of Transportation. “ Cascadia Ultra High Speed Ground Transportation: Framework for the Future .”

Washington State Department of Transportation. “ Ultra-High-Speed Rail Study: Outcomes .”

Washington State Department of Transportation. “ Ultra-High-Speed Ground Transportation Business Case Analysis ,” Page ii (Page 3 of PDF).

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The 4 essential components of a market feasibility study

Frequently, a company undertakes a feasibility study when it’s looking to introduce a new business, product, or service or grow its operations.

A feasibility study is intended to evaluate the viability of an undertaking in order to establish whether or not it will possibly succeed. Through undertaking market feasibility studies, businesses can better validate their idea from ideation to fruition. This is where market research companies in Uganda such as Researchtec, come into play. We can help businesses study the market to establish if the available demand is sufficient enough to warrant the launch of a new business.

In terms of technicalities, a market feasibility study can do more than just evaluate the viability and likelihood of success for your business. It can also reveal the evidence required to bar you from starting a risky project, identify potential pitfalls or just study the nature of the competition you are likely to face.

In order to undertake an effective feasibility study, there are some elements that have to be incorporated. Below are the four essential components of a market feasibility study.

1. Stakeholder In-Depth Interviews (IDIs)

A great place to start a market feasibility study is to engage any associated stakeholders. As professional market researchers in Uganda, we begin this process by organizing between 8 and 12 in-depth interviews with stakeholders who may include important personnel within or without the business as well as market experts.

With each interview running for an average of 25 minutes, close to 5 hours worth of advice and insights will be at the market researcher’s disposal thereafter.

As expert African market researchers, we use this opportunity to better acquaint ourselves with the project and its objectives. Moreover, seeking and incorporating advice from stakeholders can be a guaranteed way to win their favour and approval in the initial phases which can later be drawn upon when their support is required.

2. Demographic Evaluation and Trend Analysis

Understanding your potential target market beforehand you launch a new product or service could be the critical decision that saves you from launching a failing product or business. With 1 in 2 businesses failing globally due to a lack of market need, understanding your potential target market is invaluable.

Through conducting secondary research, Researchtec can help you identify your target market and its demographic structure such as age, gender, consumption patterns, spending habits and income among others that would affect the project’s feasibility. As professional market researchers in Uganda, we are able to study to similarly study industry and market trends that are driving the industry or are likely to influence your market so you don’t second guess who your customers really are.

3. Quantitative Survey

Whereas our Research Analysts may use secondary data for our demographic and trend analysis, the quantitative survey will solely be hinged on primary data that will be gathered from your clientele and target population.

As part of the feasibility study, we will partake in formulating a survey aimed mainly at finding out the existing and anticipated uptake as well as the extent to which the new venture will impact the market. Not every market research company in Uganda will be able to pull this particular process off effectively, as it requires a very nuanced understanding of Consumer Profiling. The survey, at this point, can be conducted in various ways including online or via telephone where the former is cheaper, faster and produces quantifiable data. The most effective online surveys range between 5 and 30 questions, running for an estimated maximum duration of 7 minutes to avoid leaving the respondents feeling drained.

If undertaking your consumer profiling in Uganda, your chosen market research agency in Uganda should then be able to take the findings from the survey, examine them, detect themes, make deductions and use the information to direct the strategy.

4. Competitive Assessment

This is the last essential and core ingredient of undertaking a market feasibility study. If you are looking to penetrate an existing market in Uganda, there will be businesses already existing and operating in the market whose potential impact on your entry as a new competitor, must be scrutinized. A market feasibility study in Uganda must therefore include a thorough study of the competition to ascertain the influence they could have on your venture and also identify existing gaps in the industry that could potentially be exploited to gain a competitive advantage. Secondary data as well as mystery shopping are some of the methods that can be used to obtain information required to carry out competitive analysis in Uganda. Mystery shopping and personal visits to rivals may also come in handy in instances where the information required may not be readily accessible to the public via secondary sources.

Whereas the 4 essential components of a market feasibility are applicable to any business regardless of the industry or objectives for conducting the feasibility, it is pertinent that you choose the best market research company in Uganda and Africa, to tailor these components to meet your individual needs.

A market feasibility study is a useful tool that all businesses need to utilize when venturing into new territories to avoid incurring losses and minimize the risk of failure. It avails you with reliable information and insights to make evidence-backed and informed decisions.

Whatever Your Market Research Needs are in Uganda, We Can Help. Call or Visit Today for a Consultation! Let Our Experts Give You the Information You Need. Talk to Uganda’s Expert Market Researchers Today.

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The 8 types of market research and how to use them

There are eight types of marketing research you can try to stay ahead of the competition. Learn more about marketing research methods and how to use them.

Person conducting different types of market research.

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“If you keep doing what you’ve always done, you’ll keep getting what you’ve always got.”

Doesn’t sound too threatening if you’ve always been successful, right?

Continuing to do what you’ve always done means you’ll fall behind—and probably fade to darkness—to where all the forgotten brands go.

Take Kodak. They were a major player in photography for decades—remember? When digital photography boomed, Kodak kept doing what they always did. Their business floundered and people forgot about them. Well, everyone apart from Pitbull.

Now, look at Fujifilm, one of Kodak’s biggest competitors. They did the opposite and looked for ways to apply their expertise in film to the technology of the new millennium instead. Their company is still going strong.

The same goes for research. If you’re doing the same old types of market research, speaking to the same old people, and doing the same old tired surveys—you’re already behind.

How do you decide what kind of market research you need to do? It all comes down to what you need to know and what your business goals are.

In this article, we’ll explain the various types of market research you can use to solve issues and challenges in your business. We’ll throw you a freebie, too, and provide some market research tips about when to use each strategy.

Let’s get you ahead of the curve.

1. Brand research

Brand research helps with creating and managing a company’s brand, or identity. A company’s brand is the images, narratives, and characteristics people associate with it.

When to use it

Brand research can be used at every stage in a business’s lifecycle, from creation to new product launches and re-branding. There are at least seven types of brand research:

Brand advocacy: How many of your customers are willing to recommend your brand?

Brand awareness : Does your target market know who you are and consider you a serious option?

Brand loyalty: Are you retaining customers?

Brand penetration: What is the proportion of your target market using your brand?

Brand perception : What do people think of as your company’s identity or differentiating qualities?

Brand positioning: What is the best way to differentiate your brand from others in the consumer’s mind and articulate it in a way that resonates?

Brand value: How much are people willing to pay for an experience with your brand over another?

How to do it

A researcher will use several types of market research methods to assess your and your competitors’ strengths and weaknesses. Generally, they will conduct competitor research, both qualitative and quantitative, to get a picture of the overall marketplace. Focus groups and interviews can be used to learn about their emotions and associations with certain brands.

Market research surveys are useful to determine features and benefits that differentiate you from competitors . These are then translated into emotionally compelling consumer language.

2. Campaign effectiveness

This type of market research is designed to evaluate whether your advertising messages are reaching the right people and delivering the desired results. Successful campaign effectiveness research can help you sell more and reduce customer acquisition costs.

It’s estimated people see up to 5,000 advertising messages each day. That means attention is a scarce resource, so campaign effectiveness research should be used when you need to spend your advertising dollars effectively.

Campaign effectiveness research depends on which stage of the campaign you use it in (ideally, it’s all of them!). Quantitative research can be conducted to provide a picture of how your target market views advertising and address weaknesses in the advertising campaign.

3. Competitive analysis

Different companies are conducting competitor analysis.

Competitive analysis allows you to assess your competitors’ strengths and weaknesses in the marketplace, providing you with fuel to drive a competitive advantage.

No business exists in a vacuum—competitive analysis is an integral part of any business and market plan. Whether you’re just getting started, moving into a new market, or doing a health check of your business, a competitive analysis will be invaluable.

A researcher will typically choose a few of your main competitors and analyze things like their marketing strategy, customer perceptions, revenue or sales volume, and so on.

Secondary sources such as articles, references, and advertising are excellent sources of competitive information; however, primary research, such as mystery shopping and focus groups, can offer valuable information on customer service and current consumer opinions.

4. Consumer insights

Consumer insights research does more than tell you about who your customers are and what they do. It reveals why customers behave in certain ways and helps you leverage that to meet your business goals.

Knowing your customers deeply is integral to creating a strategic marketing plan. This type of market research can help you anticipate consumer needs, spark innovation, personalize your marketing, solve business challenges, and more.

Consumer insights research should be specific to your business—it’s about getting to know your target audience and customers. Various market research methods can be used, such as interviews, ethnography, survey research, social monitoring, and customer journey research.

Here are some of the characteristics you should understand through consumer insights research:

Purchase habits

Interests, hobbies, passions

Personal and professional information

How they consume media and advertising

5. Customer satisfaction research

Customer satisfaction research is a type of market research that measures customers’ experiences with products or services, specifically looking at how those meet, exceed, or fail to live up to their expectations.

Customer satisfaction is a strong indicator of customer retention and overall business performance. Successful customer satisfaction research should help you understand what your customers like, dislike, and feel needs improvement. You can use this type of market research to look at the quality and design of products, speed and timeliness of delivery, staff and service reliability, knowledge, and friendliness, market price, and value for money.

There are several ways to measure customer satisfaction, most commonly using surveys. An NPS or Voice of the Customer Survey can help you measure customer loyalty. Customer Effort Scoring measures how satisfied people are with customer service or problem resolution. CSAT is any survey that measures customer satisfaction , typically measured using Likert scale surveys . They can be conducted at different points in the customer experience, allowing deeper insight into that moment.

6. Customer segmentation research

Customer segmentation studies aim to divide markets or customers into smaller groups or personas with similar characteristics to enable targeted marketing. By understanding how people in each category behave, you can understand how each influences revenue.

Customer segmentation research is best used if you’re ready to give customers individualized experiences. Not every customer in your target market is the same. The more you understand each specific persona, the easier it is to focus on delivering personalized marketing, build loyal relations, price products effectively, and forecast how new products and services will perform in each segment.

Market researchers use four characteristics to segment customers.

Demographics: demographic information such as age, gender, family status, education, household income, occupation and so on

Geography: where people live, from cities and countries to whether they are city dwellers or suburbanites

Psychographics: socioeconomic status, class, lifestyle, personality traits, generation, interests, hobbies, etc.

Behavior: brand affinity, consumption and shopping habits, spending, etc.

A researcher will identify your current customers and collect data about them through various market research methods, such as surveys, database research, website analytics, interviews, and focus groups. The aim is to gather as much information as possible.

7. Product development

Market research for product development involves using customer knowledge to inform the entire process of creating or improving a product, service, or app and bringing it to market.

Innovation is hard work. A quick Google will tell you that 80–95% of new products fail every year. Conducting market research for product and app development helps minimize the risk of a new product or change going bust as it enters the market. There are three stages where you can use market research:

Conception: The moment you’re thinking about adding something new, market research can find market opportunities and provide insights into customer challenges or their jobs-to-be-done, so you can find a way to fill the gap.

Formation: Once you have an idea, market researchers can help you turn it into a concept that can be tested. You can learn more about strategizing pricing, testing advertising and packaging, value proposition, and so on.

Introduction: Market research can help you gauge attitudes toward the product once it’s in the market and adapt your messaging as it rolls out.

Keep making the product better or find opportunities to introduce it to new markets.

Product development research will utilize different market research methods, depending on the goal of the research. A researcher could present focus groups with product concepts and listen to their opinions, conduct interviews to learn more about their pain points, or perform user testing to see how they interact with an app or website.

8. Usability testing

Usability testing is concerned with understanding how customers use your products in real time. It can involve physical products, like a new blender, or digital products like a website or app.

Usability testing is helpful when you need to detect problems or bugs in early prototypes or beta versions before launching them. It typically costs far less to test a product or service beforehand than to pull a flawed product off the shelves or lose sales because of poor functionality.

There are several types of usability tests, which vary based on whether you’re testing a physical or digital product.

Journey testing involves observing the customer experience on an app or website and monitoring how they perform. This type of study can be done online

Eye tracking studies monitor where people’s eyes are drawn. Generally, they are conducted on websites and apps, but can also be done in stores to analyze where people look while shopping

Learn ability studies quantify the learning curve over time to see which problems people encounter after repeating the same task

Click tracking follows users’ activity on websites to evaluate the linking structure of a website

Checklist testing involves giving users tasks to perform and recording or asking them to review their experience

Combining types of market research with Typeform

When it comes to market research, you need to ask yourself what business challenge or question you’re trying to address. Then, select the appropriate methods and tools, such as market research automation , to simplify your process.From there, the world of useful data and actionable insights will open to you.

About the author

We're Typeform - a team on a mission to transform data collection by bringing you refreshingly different forms.

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English Blogs

Requirements: feasibility, desirability, and viability.

In English Blogs , Research , Testing

It is crucial to clearly define the requirements at the beginning of each research report. These requirements represent the specific criteria and expectations set by the client and other key stakeholders, such as end-users, for the solution that needs to be developed for the problem.

The requirements should be varied and categorized into various design criteria: feasibility, desirability, and viability.

Feasibility investigates whether the proposed solution is technically, financially, and operationally executable within the available resources and timelines.
Desirability assesses the extent to which the proposed solution meets the needs and expectations of stakeholders, including users, customers, and other involved parties.
Viability encompasses the sustainability and effectiveness of the solution in the long run, including factors such as market potential, competitive position, and risk management. In other words, viability focuses on the long-term effectiveness and continuity of the solution.

By first naming the requirements and then evaluating them based on the three criteria, we can identify the most suitable solution for the problem and maximize the chance of success at implementation.

Mentioning Requirements in a Study/Report/Thesis

The requirements must be described at the beginning of the study. Then, it is essential to explain under the chapter “Methods and Techniques” how these requirements have been tested. In the Results chapter, it can then be discussed to what extent the selected solution (such as a proof of concept) meets the requirements. A score table can be used as a tool for this.

In the Implementation Plan chapter, reference can be made to the steps that need to be taken so that the criteria of desirability, feasibility, and viability remain guaranteed. Concretely, this means: how can the client ensure that the solution (or proof of concept) is realized, what costs are involved in proving the feasibility, and what further steps can the client take to ensure that the solution is sustainable in the long term? What are the points of attention and risks (risk management/risk control), and are there any recommendations? It is also important to consider potential consequences and implications, as well as prerequisites such as legislation (including GDPR) and ethics.

Also, read this blog about the criteria of a good research report.

Flexibility and Communication in Research

Be aware that research is not a linear process. What you establish at the beginning of your research can change along the way. This also applies to the demands and wishes (requirements). Initially, you set these requirements in consultation with your client, but during the research, you can adjust them based on new insights you acquire. This can happen, for example, through conversations with experts, target groups, and other important stakeholders. Therefore, it is essential to know well who is important for your research so that you can accurately tailor the demands and wishes to their needs. Feel free to adjust or supplement requirements and other necessary information with valuable data during your research. This will enhance the quality of your research and enable you to support viewpoints, results, and conclusions with strong evidence more effectively.

It is, of course, important to sit down regularly, for example, once a month, with your client to discuss progress and any changes, such as in the requirements. In this way, you create support and keep your client informed of the progress. This can lead to new insights or suggestions that you can get from your client, which can further improve the content of your research.

Requirements and Quality Requirements

Be aware that requirements and quality requirements do not have the same meaning. Both terms, quality requirements and requirements, are often used in project management, product and service development, and software development, but thus do not have the same meaning:

Quality Requirements: These are the criteria that a product or service must meet to be considered of good quality. Quality requirements are usually broad and cover aspects such as reliability, user-friendliness, performance, safety, and so forth. They describe the general characteristics of the end product or service that the customer or user expects.
Requirements: These are specific functionalities, features, or performance that a product or service must have to meet the needs of the customer, client, and other stakeholders.

In short, quality requirements are more general criteria that define the overall quality of the end product, while requirements describe specific functionalities or features needed to meet those quality requirements and other demands.

Examples of Requirements

Below, we explore a selection of examples of requirements by criterion, bearing in mind that these are merely illustrations. Not all may find their way back into your research. Thus, it is imperative to always define your requirements in consultation with stakeholders.

Feasibility:

Technical Feasibility: The utilization of existing technologies to implement a solution.
Financial Feasibility: The available budget for developing and implementing the solution.
Operational Feasibility: The capability to integrate the proposed solution into existing systems and processes without disruptions.
Timeline Feasibility: Realistically setting deadlines and milestones for the project.
Resource Feasibility: Availability of personnel, expertise, and other resources required for executing the project.
Scalability: The possibility to adapt the solution to growing needs and size of the project.
Technological Infrastructure: Checking the availability and compatibility of the required infrastructure.
Legal and Regulatory Feasibility: Complying with laws and regulations related to privacy, security, and other relevant areas.
Risk Management: Identifying and managing potential risks that could hinder the execution of the project.
Availability of Suppliers and Partners: Assessing the availability and reliability of external suppliers and partners needed for the project.

Desirability:

User-Friendliness: The degree to which the solution is intuitive and easy to use for end users.
Customer Satisfaction: Meeting the expectations and needs of customers and stakeholders.
Functionality: Providing the right features and capabilities to meet the specific needs of users.
Flexibility: The ability to adapt the solution to changing demands and environments.
Aesthetics: The visual design and presentation of the solution to be attractive to users.
Performance: The speed, reliability, and responsiveness of the solution in use.
Accessibility: Ensuring that the solution is accessible to all users, including people with various abilities and limitations.
Compatibility: The interoperability of the solution with various devices, platforms, and systems.
Security and Privacy: Ensuring the security and protection of sensitive data and information.
Brand Reputation: Maintaining or enhancing the reputation and perception of the brand among users and the market.
Market Potential: The size of the market and growth opportunities for the solution.
Competitive Position: The ability to compete with other similar solutions in the market.
Return on Investment (ROI): The return achieved through the investment in the development and implementation of the solution.
Long-Term Profitability: The sustainability of the earning model and profitability in the long term.
Business Scalability: The ability to scale the solution to new markets or target groups.
Customer Retention: The ability to maintain customers and secure their long-term loyalty.
Operational Efficiency: The ability to reduce operational costs and increase efficiency after implementation.
Risk Management: The ability to identify and manage potential risks that could threaten the viability of the solution.
Innovation Potential: The ability to continuously innovate and adapt the solution to changing market conditions.
Sustainability: The ability of the solution to generate positive social and environmental impact over the long term.

Good requirements are formulated as SMART as possible. SMART stands for Specific, Measurable, Acceptable, Realistic, and Time-bound. By formulating requirements in this way, they can be defined clearly, concretely, and feasibly, which is essential for a successful research report.

MoSCoW-methode

A clever method for prioritizing requirements is the MoSCoW method, which aids in classifying them based on their urgency and importance to the project. Incorporating requirements ensures that research focuses on meeting the needs of key stakeholders and that the final solution will be effective in addressing the problem. Furthermore, later in the Results chapter, it can be more easily demonstrated that the specified demands and desires of various stakeholders have been met, which can show that the desired effect with the created solution can be achieved.

Regarding the Moscow methodology: The MoSCoW method is a technique often used in project management and requirements engineering to determine the priorities of demands and requirements. The name “MoSCoW” is an acronym that stands for:

Must have: These are the essential requirements that absolutely must be present in the end product or solution. These requirements are crucial for the project’s success and constitute the core functionality.
Should have: These are important requirements that are strongly recommended to include in the end product or solution. Although they are not essential, they significantly contribute to its value and usability.
Could have: These are optional requirements that are desirable but not critical. They can be included if there is sufficient time and resources available but can also be deferred to later versions of the product.
Won’t have (at this time): These are requirements that are consciously excluded from the current scope of the project. They will not be implemented in the current phase but may be considered in the future.

By categorizing the requirements based on these four levels, the MoSCoW method helps project teams and stakeholders to gain clarity on what is essential and what is optional, thereby allowing them to better prioritize and make decisions about the project’s scope. This contributes to effective resource allocation and helps to meet the project’s key objectives.

Effectively Stating Requirements

Stating requirements in a research report, account, or thesis, as indicated above, is of essential importance to provide clarity about the expectations and criteria to be fulfilled. Below are some steps described in a bit more detail that you can take to mention requirements effectively:

Identify the Requirements: Analyze the needs and expectations of the client, stakeholders, and end-users to identify the requirements that should be included in the research.
Be Specific: Formulate the requirements as specifically and measurably as possible. If possible, use quantitative measures to define the requirements.
Organize the Requirements: Structure the requirements into categories or sections to make them easier to understand and follow. For example, this could be per functional area or per stakeholder group.
State the Requirements in the Introduction: Include a section in the introduction of the report where the main requirements are listed. This gives the reader an overview of what is expected from the research.
Substantiate with Literature: Support the stated requirements with literature or relevant sources to emphasize their necessity and validity.
Clarification in the Methodology: Describe in the methodology section how the requirements were established and validated, and which methods were used to collect and analyze them.
Include in Results and Discussion: Discuss in the Results and Discussion sections how the selected solution meets the requirements. If possible, provide evidence or examples to support this evaluation.
Reflect in Conclusion, Recommendations, and Implementation Plan: Reflect in the conclusion and recommendations sections on the extent to which the requirements have been met and make recommendations for any follow-up steps to address potential shortcomings. Additionally, include the requirements in an implementation plan to offer a clear strategy for the practical execution of the project.

By following these steps, mentioning requirements in a research report, account, or thesis can help to improve the relevance, validity, and usability of the research.

This particular blog post was inspired by the books listed below. It should be noted that the original language of the sources used was Dutch.

En de Baarda, Basisboek methoden en technieken
Ben Baarda, Basisboek kwalitatief onderzoek
Guido Stompff, Design Thinking

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Should-haves

These tasks or elements are important to completing the project or product, but they're not necessary. Although the product will still function without should-have requirements, you shouldn't disregard them or underestimate their importance because they can significantly increase the product's value.

Performance improvements and new functions are examples of should-have requirements.

Could-haves

These initiatives take a back seat to must-haves and should-haves. If left out, they will not significantly influence the completion of a product or project. A could-have element is desired but not necessary.

Will-not-haves (at this time)

The items in this category set realistic expectations for what the product will not include. A clear visual representation of these requirements communicates to the team and stakeholders items identified as out of scope.

What do your users really want?

Just upload your customer research and ask your insights hub - like magic.

When do you use the MoSCoW method for prioritization?

The idea behind Agile project management is to decrease the risk of missed goals and deadlines. It uses resources and time more efficiently by breaking the project into smaller sections and prioritizing tasks, requirements, products, and stories.

To prioritize these, you can use the MoSCoW method within the scope of an Agile project.

What is an example of the MoSCoW technique?

Imagine you're building an e-commerce website that must launch by a specific date. You'll have to prioritize its features because you don't have unlimited time to work on the site.

The functionality you want to incorporate into the website could be:

Users can log onto the website

Users should have access to a "Forgot Password" solution

Users can change account details

Users can send an email to the system requesting a change to the account page

Here's how you might categorize these features based on how effective you want the website to be and the time constraints you face:

Must-haves:

Should-haves:

Could-haves:

Will-not-haves

Users can click on a phone number on the webpage, and a call will automatically be made from their desk phone to that number

Benefits of using MoSCoW prioritization

MoSCoW prioritization offers several benefits in project management:

Clarity and focus: It helps teams identify and prioritize the most critical requirements, ensuring clarity on what needs to be delivered first.

Efficiency: By categorizing tasks into must-haves, should-haves, could-haves, and won't-haves, teams can allocate resources more efficiently and focus on delivering essential features first.

Stakeholder alignment: It facilitates stakeholder discussions by providing a common language to discuss and prioritize requirements, ensuring alignment on project goals and objectives.

Risk mitigation: MoSCoW prioritization helps mitigate project risks by addressing must-have requirements first, reducing the likelihood of critical features being overlooked or delayed.

Flexibility: It allows for flexibility in project planning and execution by accommodating changes in requirements throughout the project lifecycle while ensuring that essential features are prioritized.

Time and cost savings: By focusing on must-have requirements early in the project, teams can deliver value more quickly, potentially reducing project timelines and costs.

Overall, MoSCoW prioritization promotes a structured and systematic approach to project management, leading to more successful and efficient project outcomes.

Disadvantages of using MoSCoW prioritization

The major disadvantage of the MoSCoW method is that it isn’t an objective or consistent scoring system. For this methodology to be effective, other scoring systems, like the weighted scoring or the Kano model, should be used in conjunction with it.

Not combining another scoring system with the MoSCoW method can exclude the organization's leadership from the decision-making process. Decisions would then be in danger of being made based on the project manager's personal preferences rather than adhering to business goals and values.

This method does not involve supporting reasoning on how you prioritize requirements within the same category or why one requirement is a must-have or should-have. The parameters of each category can be blurred. There is also uncertainty about whether will-not-haves are being left out of the tasks required now or out of the entire project.

How can teams use MoSCoW to their advantage?

Resources, time, and skill sets are not unlimited in the business world. You must constantly strive to work around those constraints efficiently for a maximum return on investment (ROI). Using the MoSCoW method can help.

Use budgetary constraints to prioritize

Some projects have tight budgets. You can use the MoSCoW method by using the budget to determine which items must be and should be completed.

Use the team's skill sets to prioritize

Experience and expertise levels can help determine which tasks to prioritize. If a task requires skills that the team lacks, you must prioritize it accordingly.

Use the competing needs of the company to prioritize

While your team is working on a specific aspect of a project, the company's leaders may have added additional requirements for your team to complete within the same timeframe. You would then have to reshuffle the priorities to accommodate the additional requirements. The MoSCoW method can help you do this.

Best practices for using MoSCoW prioritization

Include all stakeholders in using the MoSCoW method, from the executive level down to the different teams involved in the successful completion of the project. Get them to also use objective scoring systems like:

Opportunity scoring: uses data from market research to determine what customers expect from your product or service. Prioritization is done according to their wants and needs.

Priority poker: based on priorities that will provide the highest yields in a specific target market. The marketing team, executive team, and customers should be involved for accurate ranking of priorities.

Cost of delay: based on determining how much money the company is losing by waiting to work on a particular task, product, or feature.

100-point method: all stakeholders vote for what they think is the most important requirement. They each get 100 points to distribute among the requirements, ranking them from most important to least. If a stakeholder thinks four requirements are of equal value, they can allocate 25 points to each. If they feel strongly that one requirement overrides all others, they can put all 100 points on that requirement.

Incorporate the data you receive from these scoring systems when inserting the requirements in your MoSCoW categories. Share the results with stakeholders so that they can understand why you prioritized the criteria as you did. This exercise might even reveal a reason to expand a budget constraint or allocate more resources to a priority the stakeholders initially thought unimportant.

How the MoSCoW method differs from the 100-point method

While the 100-point method helps in general brainstorming sessions, the MoSCoW method focuses on working within budget and time constraints.

Once the teams and stakeholders reach an agreement (perhaps by using the 100-point method) on the importance level of each requirement, the product managers or owners will use the MoSCoW method to categorize requirements based on:

High customer value

An elevated benefit to the business

Simple implementation

Inflated costs, when not applied as soon as possible

Technical specifications that are interdependent

This will help stakeholders and project teams visualize the intended direction.

MoSCoW prioritization in Agile project management

In an ideal world, your business would have unlimited time and a limitless source of funds to become the most efficient revenue generator it could be. But in the real world, you've got budget and time constraints.

When deciding on projects that will help increase revenue, decrease operational costs, boost productivity, or heighten customer satisfaction, you must choose the projects and project requirements that will most impact the goals you find important. The MoSCoW method can help you do just that.

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Best understanding of the subsurface

LLC “NIPI-R” offers high-quality and comprehensive solutions in the field of geology and oil and gas field development; enhanced oil recovery for field development; reserves audit and feasibility assessment of investment efficiency in oil production.

About the Company

The company’s mission: provision of high-quality and comprehensive solutions in the field of petroleum engineering and designing, the company’s purpose.

Reaching leading positions and substantial expansion of the market niche in the territory of the Russian Federation and republics of the Customs Union.

The Company’s competitive advantages

» A broad spectrum of high-quality services;
» Comprehensive approach to task solution;
» Unification of standards;
» Knowledge of the Russian and Western technologies;
» Work quality control in accordance with international standards;
» Professional management with extended work experience;
» Work performance guarantees;
» Transparent pricing;
» Excellent business reputation in the service market.

NIPI-R foundation

Limited Liability Company “Research and Design Institute of Oil and Gas-R” was set up in July 2013. The Company’s founders are a group of highly qualified specialists of petroleum industry.

Stages of the Company’s development

1989 - A group of feasibility study of investments in Russian oil industry is set up in the first Soviet-American Joint Venture "MD SEIS".
1991 - MD SEIS Consulting is registered, and starts to receive orders from Russian and foreign companies for development of feasibility studies for setting up joint ventures. With the participation of MD SEIS Consulting on the basis of the Reservoir Engineering Department, NizhnevartovskNIPIneft Research and Design Institute, Nizhnevartovsk, CJSC "ENCONCO" is set up for engineering and design projects. Projects are performed for Nizhnevartovskneftegas, Megionneftegas, Varieganneftegaz Associations.
1994 - CJSC "ENCONCO" and MD SEIS Consulting receive orders for engineering and design projects from major Russian and international oil companies, such as LUKOIL, Rosneft, Calgary Overseas, CONOCO, BRIDAS, SOCO, AGIP. The companies employ specialists from VNIIneft and VNIIOENG Research Institutes.
1997 - CJSC "ENCONCO" is reregistered in Moscow as a private independent company. MD SEIS Consulting experts join CJSC "ENCONCO". The Company continues to grow successfully. ExxonMobil, SHELL, TNK, and other companies are among the Company’s clients.
2000 - Geostream Services Group, an independent engineering and consulting group of companies, is set up on the basis of CJSC "ENCONCO"
2005 - LLC "Geostream Services Group" becomes an integrated service company, with Geostream Drilling drilling company set up as part of the group. The company starts drilling at the CJSC Oil Company “Nobel Oil" field in the Republic of Komi.
2008 - Key Energy Services Inc., a major US corporation with an annual turnover of about $2 billion and more than 150 branches specialized in well services, headquartered in Houston, Texas, becomes a shareholder of LLC "Geostream Services Group".
2013 - Key Energy Services Inc. buys out 100% shares of LLC "Geostream Services Group." The company's management, as well as the team of CJSC "ENCONCO" leaves LLC "Geostream Services Group".
2014 - LLC “Research and Design Institute of Oil and Gas-R” (LLC “NIPI-R”) commences to work. Along with JSC "ENCONCO" specialists the company employs LLC "Oil Services Group" specialists. ExxonMobil concludes a long-term service contract with the Company for "Sakhalin-1" project’s fields. OJSC "Sberbank of Russia" accredits LLC “NIPI-R” for feasibility assessments of investments in the oil and gas industry for their clients.

Activity directions

Main directions of the Company’s activity are scientific studies and engineering in the petroleum field, namely:

» petroleum geology;
» development of oil, gas and gas/condensate fields;
» enhanced oil recovery for field development;
» research and development studies;
» comprehensive solutions for hydrocarbon field development;
» reserves audit and feasibility assessment of efficiency of investments in oil production.

Quality, certification and safety of work

A quality management system has been implemented in the company and provides for organization and effective work and service process management, as well as the Company’s management processes. Creation of favorable and safe labor conditions, health and personnel performance maintenance, as well as a complex of measures for environmental protection is a key principle of the Company’s activity. LLC “NIPI-R” operates in strict compliance with safety and environmental protection laws of the Russian Federation and adheres to ISO Series 14000 and OHSAS 18001 international standards. Management policy is focused on involvement of employees at all levels so that safety and quality maintenance becomes an integral part of day-to-day employee’s behavior at work and at home.

Engineering service

Petroleum geology.

» Seismic data interpretation;
» Seismic data analysis;
» Well log and test data interpretation, including for complex reservoir rocks (fracturing, vugginess, dual media, etc.);
» Geological modeling of unconventional reservoir rocks and complex objects, including conceptual modeling;
» 3D digital geological modeling;
» Design of geological or mining allotment for hydrocarbon exploration and production;
» Prospecting and appraisal projects for hydrocarbon deposits and fields;
» Hydrocarbon reserves estimate, including for oil source rocks: Bazhenov and analogous reservoir rocks (Domanikov, etc.).

Oil and gas field development

» Pressure-transient, well log and test data analysis;
» Field development analysis;
» Building 3D digital field models;
» Calculation of field development technological parameters;
» Preparation of technological documents for field development;
» Technological calculations and completion of enhanced oil recovery projects for high-viscosity oil field development (wet in-situ combustion, heat carrier injection, polymer flood);
» Engineering support for hydrocarbon remaining reserves development (development analysis, study program, localization of remaining reserves, enhanced oil recovery activities based on 3D modeling);
» Preparation of feasibility justification of oil, gas and condensate recovery factors;
» Audit of recoverable reserves and feasibility assessment of investment efficiency in oil and gas production.

Development of Geoplat Pro-RS simulator

Geoplat Pro-RS - Geoplat Pro-RS is a parallel simulator with flexible architecture, which allows for entering new physical processes into algorithms as soon as possible.

The product has been developed since 2015 and now it is a computation core with implemented two-phase immiscible model, “BlackOil” three-phase model and the user’s pre- and post-processing as a part of Geoplat Pro-G. Functionality allows for performing a standard cycle of simulation from re-scaling and history-matching to modeling data analysis and technological assessment of oil and gas field development scenario.

One of the key product’s purposes is a consideration of any dependences in initial equations, followed by adjustment of simulator to unique flow conditions of any hydrocarbon field.

Pro-RS is a new generation simulator capable of exceeding existing commercial products by individual approach to solution of production tasks of field development..

Key advantages

» product’s innovation architecture;
» adjustment of simulator individually for each field;
» multi-threaded calculations;
» research and development use for modeling of unique physical processes;
» russian-language technical support;
» unified software platform, from seismics to development of oil and gas fields, based on a single database and visualization module.

Planned functionality of the final product.

» integration into a single software platform;
» three-phase model (oil, gas, water);
» compositional modeling module;
» thermal modeling module;
» surface production gathering system module;
» concurrent running;
» reading and conversion of other simulators’ formats (Eclipse, Tempest, tNavigator);
» setting aquifers (Fetkovich, Carter-Tracy, numerical);
» scaling of relative phase permeability plots;
» support of various well models (vertical, horizontal, multi-lateral);
» various types of well management (by depression, water cut, flowrate, etc.);
» corner point geometry, non-adjacent connections;
» local grid downscaling/upscaling;
» hydraulic fracturing modeling;
» wellbore flow model;
» input and modeling data analysis;
» modification of 3D grid and geological/simulation model parameters;
» operation with functions of relative phase permeabilities and capillary pressure;
» well spotting with setting technical development parameters;
» determination of multi-component system composition (PVT-module);
» simulation model’s history-matching (manual, automatic);
» modeling data visualization;
» support of various reservoir stimulation methods (polymer flood, surfactant flood, carbon dioxide flood, etc.);
» dual porosity and dual permeability flow models for modeling processes in fractured-porous reservoirs.

The Company’s major projects

Design work “Addendum to Technological Scheme of Development, Chaivo Field. Sea of Okhotsk Shelf. “Sakhalin-1” Project and CCFD Expertise and Consideration Follow-up”
Design work “Addendum to Technological Scheme of Development, Odoptu Field. Sea of Okhotsk Shelf. “Sakhalin-1” Project and CCFD Expertise and Consideration Follow-up”
Design work “Addendum to Technological Scheme of Development, Arkutun-Dagi Field. Sea of Okhotsk Shelf. “Sakhalin-1” Project and CCFD Expertise and Consideration Follow-up”
Development Analysis and Selection of Optimum Enhanced Oil Recovery Scenario, D2st, Yuzhno-Oshskoye Field
Expert and Analytical Evaluation of Feasibility Parameters of Oil Field Development, Mogutovsky, Vorontsovsky and Gremyachevsky Licensed Areas
Development Analysis, Calculation of Technological Parameters, Western Block, Bortovoi Licensed Area; Well Test Data Analysis, Bortovoi Licensed Area (Eastern Block), and Work Program Development, Western Part, Karpensky Oil/Gas/Condensate Field. Reserve Estimation and Development Parameter Calculation, Koltogorsky Licensed Area
Peer Review of Long-Term Production Program of Development Under Design Financing for PJSC “Gazprombank”, Vostochno-Messoyakhskoye Field
Technical Expertise of Production Program, LLC “OC “North Lights”, Prepared for Restructuring and Payment of SC “Vnesheconombank” Accrued Expenses
Seismic and Geologic Interpretation of Seismic and Log Data, Tatyshlinskoye Field
Project of Hydrocarbon Deposit Exploration, Miocene, Odoptu-More Field (Central and Southern Domes) and New Hydrocarbon Prospecting
3D CDP Seismic and Log Data Processing and Comprehensive Interpretation For New Hydrocarbon Prospecting, Odoptu-More Field
Expert Findings on Report “Integrated Study of Waterflood Reservoir Engineering and Production Analysis, Benakat Timur Field, Indonesia”

Our major Clients

Exxon neftegas limited – “sakhalin 1” project operator, llc “bashnipineft”, ojsc oil company “neftisa”, cjsc “forteinvest”, jsc “messoyakhaneftegaz”, cjsc “antipinski refinery”, llc “nobel oil” operating company, llc “oil company “north lights”, our clients’ comments (russian version), comment from ojsc oil company “neftisa”, comment from llc “basneft production”, comment from cjsc “forteinvest”, comment from cjsc “antipinski refinery”, comment from llc “zoltav resource”.

IMAGES

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Marketing Research: Pengertian, Fungsi, Tujuan, & Metodenya

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COMMENTS

Market Research: Pengertian, Metode, dan Tahapan Melakukannya
Metode Market Research. Jenis atau metode dari market research dapat dibedakan menjadi dua, yakni riset pasar primer dan riset pasar sekunder. 1. Riset Pasar Primer. Market research primer adalah riset pasar yang dilakukan sendiri oleh perusahaan atau dengan mempekerjakan pihak ketiga yang secara langsung melakukan penelitian di bawah ...
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Market research merupakan proses pengumpulan dan analisis data yang bertujuan untuk memahami kebutuhan, preferensi, dan perilaku konsumen, serta mengidentifikasi peluang dan tantangan di pasar. Berikut ini ada manfaat dari market research yang dapat membantu kamu dalam mengambil keputusan bisnis yang lebih baik: 1.
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Langkah-Langkah Melakukan Market Research. Langkah #1: Tentukan Tujuan Penelitiannya. Langkah #2: Tentukan Sampel. Langkah 3: Gunakan Dan Kembangkan Instrumen Pengumpulan Data. Langkah 4: Analisis Hasilnya. Langkah #5: Buat Laporan Penelitian. Langkah #6: Buat Keputusan. Mari Lakukan Market Research Bersama Terralogiq.
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Tujuan utama dari market research adalah untuk membantu perusahaan membuat keputusan yang lebih tepat dan strategis. Keputusan yang dibuat terkait dengan pengembangan produk berdasarkan fakta dan insight pasar yang aktual. Hasilnya juga digunakan dalam penetapan harga, promosi, dan distribusi. Proses ini melibatkan beberapa langkah utama.
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Tahapan Proses Market Research. Cara Market Research bisa dilakukan dengan 7 tahapan (Credit: Freepik.com) Ada 7 tahapan dasar cara melakukan market research, berikut diantaranya: 1. Menentukan Tujuan Riset Pasar. Langkah pertama untuk melakukan market research adalah dengan menentukan tujuan yang jelas dari riset pasar.
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The 4 key elements that comprise a market research analysis are similar to those seen in other types of feasibility studies. It includes market analysis, technical analysis, financial analysis, and risk analysis. Each element works in hand with others to provide a sustainable business adventure. Let us take a broader overview of each element:
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The market feasibility study is a crucial component of your overall feasibility analysis. It focuses on assessing the potential demand for your product or service, understanding your target audience, analyzing your competition, and evaluating supply and demand dynamics within your chosen market. Market Research and Analysis. Market research is ...
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Apa itu Market Research? Jenis, Manfaat, Cara Riset Pasar
Sebagian besar perusahaan mengetahui apa itu market research dan mengakui pentingnya market research secara umum, tetapi mereka mungkin tidak menyadari betapa pentingnya market research bagi keberhasilan bisnis mereka. Ketika Anda perlu mengidentifikasi tren pasar, memahami pelanggan inti Anda dengan lebih baik, atau mencapai daftar panjang ...
How to conduct a feasibility study: Templates and examples
To conduct a feasibility study, hire a trained consultant or, if you have an in-house project management office (PMO), ask if they take on this type of work. In general, here are the steps they'll take to complete this work: 1. Run a preliminary analysis. Creating a feasibility study is a time-intensive process.
How to Conduct Market Feasibility Research
Key components of a market feasibility study are market analysis, organizational/technical analysis, and financial analysis. Steps to conducting a market feasibility study include defining the purpose of the study, conducting preliminary analysis, and performing market research. Challenges in conducting a study include relying on insufficient ...
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PDF MARKET AND FEASIBILITY STUDIES
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Berikut beberapa fungsi dan tujuan mengenal marketing research. 1. Memahami kebutuhan konsumen. Melansir dari Hubspot, marketing research akan membantu Anda mengumpulkan informasi mengenai target pasar dan konsumen. Melalui data tersebut, Anda dapat menganalisis dan memahami kebutuhan konsumen. Dengan begitu, Anda bersama tim dapat merancang ...
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MSA Feasibility Study Resources: Market Research
Resources related to conducting an MSA 699 feasibility study. Market research data is critical to determining consumer interest, demand and purchasing behavior, and helps you gauge how receptive (in general) people will be to a product or service.
The 4 essential components of a market feasibility study
Below are the four essential components of a market feasibility study. 1. Stakeholder In-Depth Interviews (IDIs) A great place to start a market feasibility study is to engage any associated stakeholders. As professional market researchers in Uganda, we begin this process by organizing between 8 and 12 in-depth interviews with stakeholders who ...
The 8 types of market research and how to use them
Various market research methods can be used, such as interviews, ethnography, survey research, social monitoring, and customer journey research. Here are some of the characteristics you should understand through consumer insights research: Purchase habits. Interests, hobbies, passions.
Requirements: feasibility, desirability, and viability
Requirements: feasibility, desirability, and viability. It is crucial to clearly define the requirements at the beginning of each research report. These requirements represent the specific criteria and expectations set by the client and other key stakeholders, such as end-users, for the solution that needs to be developed for the problem.
The MoSCoW Method Explained: Categories, Pros, and Cons
Opportunity scoring: uses data from market research to determine what customers expect from your product or service. Prioritization is done according to their wants and needs. Priority poker: based on priorities that will provide the highest yields in a specific target market. The marketing team, executive team, and customers should be involved ...
Nipi-r
1989 - A group of feasibility study of investments in Russian oil industry is set up in the first Soviet-American Joint Venture "MD SEIS".; 1991 - MD SEIS Consulting is registered, and starts to receive orders from Russian and foreign companies for development of feasibility studies for setting up joint ventures. With the participation of MD SEIS Consulting on the basis of the Reservoir ...