A market research project starts when you have the answers to the following questions: 1. Why are you researching? 2. What are you going to do with the results?

Having an objective for any project is highly important as we are living in a world full of data—some useful but mostly useless.

To save ourselves from getting lost in this sea of data and ending up directionless, it becomes vital for every business owner to not just set up their market research objectives but also to stick to those.

For identifying the objective of your market research project, it is highly advisable that you should zero in on the exact information you want to collect and from who.

If you are going to use the results of market research to make a big business decision, then it’s a good idea to do quantitative research rather than qualitative.

The more numbers you know through market research, the more you will be able to cut down your business risk.

The biggest advice I can give for setting up your market research objectives is to be very clear and concise.

Your market research objectives need to fit into your marketing strategy. If your objectives are not supporting your marketing strategy, then it’s going to be a waste of your resources.

One market research project should have only one objective. More than one objective can affect the effectiveness of your research.