- Research questions
B. Analyze
Analyze your answers using a form that is meaningful to you (points,
sentences, charts).
When you are analyzing, you are examining the research material in detail
to discover its meaning or essential features.
You are looking for relationships in the market and to your business.
Finally, you are deciding on the value of this information to your business.
This information is important because it will indicate how developing or
future changes in the market may affect any of your market segments
within your business, or your business as a whole.Because of the above analysis, there are four possible conclusions that can be
drawn that can lead to further research of the market:
The expansion of each of these possibilities is below. Each of them may require
further research.
Kinds of questions that can be used:
Describe the industry trends—local, regional, and national
Where is it going—what are the trends that are influencing the market
currently?
What new developments have there been in the marketplace recently?
What is no longer being used or done?
Is the market growing, diversifying, niching, or shrinking? If so, at what
rate and what is the change?
What are those in the industry saying the future will bring? (Research trade
publication at the library)
Are there other questions that apply to your business?a. Decline of business revenue
b. Growing market
c. Shrinking market
d. An increasingly specialized market
Is there another possible conclusion; if so, record it.