How can businesses conduct market research during a recession?

How can businesses conduct market research during a recession?

During a recession, businesses can focus on cost-effective methods like online surveys, social media polls, and analyzing existing customer data.

What specific tools can help with online surveys?

Tools like SurveyMonkey, Google Forms, and Typeform are great for creating and distributing online surveys.

Should businesses change their target audience during a recession?

Yes, businesses may need to reassess their target audience and focus on segments that are less affected by economic downturns.

How can qualitative research be conducted in tough economic times?

Qualitative research can be conducted through virtual focus groups, one-on-one interviews, and leveraging social media for feedback.

What are some common mistakes to avoid in market research during a recession?

Common mistakes include ignoring existing customer insights, relying solely on quantitative data, and failing to adapt to changing consumer behavior.