Reduce your Market Research Costs 2 – local universities like real experience

An excellent, and often free, market research resource can be the business department of your local university. They like to give their students real market research experience and are normally happy to have the opportunity to work alongside a local business.

Because you will not be working with an experienced and professional team market research team you do need to follow the process closely. Have a firm idea of your research objectives before you start, and ensure that they are being met appropriately as the project progresses.

If you do not have previous experience of conducting such a market research study, it may be useful to bounce the approaches (including the methodology, target frame, suitability of questionnaire content and the students’ analysis techniques and interpretation) off someone with experience in this area.  Even if this costs you a day of an experts time over the duration of your study, this investment will provide you with added confidence in the final results, and you will still finish with a lower cost project.

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