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Ecommerce Market Research - An Introduction

2003-12-28
 

Market research in the context of ecommerce refers to

  • online market research for an offline business;
  • offline market research for an online business; and
  • online market research for an online business.

Market research is the study of groups of people you would like to sell your products/services to. Market research is intended to understand demographics of customers, their needs, their purchase power and the processes of purchase decision making.

Many well-tested techniques (open-ended interviews, surveys, focus group and etc) have been used in market research. The Web provides a new way for conducting surveys cost-effectively.

For ecommerce market research, you are interested in 3 levels of information.

  • The trends and the size of overall ecommerce market. This is publicly available on the Internet.
  • The trends and size of a particular market segment you're interested in. You'll need to purchase market research reports from market research firms. There're over thousand of companies involved with ecommerce market research.
  • The deep understanding of how your targeted market segments perceiving your products and/or services. You'll need either design your market research or contact one or more market research firms for this.



Related Topics
Characteristics of Products/Services
Consumer Market - the growth of B2C Market

 

 
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