Starting a Market Research Company

A market research business helps in gathering information regarding the market itself or customers. It is a business strategy to obtain opinions and information by using analytical and statistical methods.

This will also support in decision making.

Steps to Start a Market Research Company

Starting a market research company is a profitable venture because businesses would hire your services. Obviously, there are lots of businesses who do not understand better their customers. The market researcher can help business owners to determine the proper way of promoting the product and services. Beforehand, the market research company will be the one responsible in gathering important information regarding the target market and analyzes the data as well as submit reports about their research.

There are various types of marketing research that includes advertising, brand association, ad tracking, brand attribute research, brand equity, commercial eye tracking and a lot more. Starting this kind of business is a perfect idea if you love doing quantitative and qualitative research. Nevertheless, you need to ensure starting it right so that you will reap the fruits. Learn all the necessary aspects before launching your own.

Things to Know When Starting Your Own Marketing Research Company

Identifying the target market is the primary step. You should determine where your company wills focus whether on food, clothing, airlines or electronics. In addition, just like starting any other business you should develop effective and strategic business plan. It will help you in predicting possible business problems and at the same time helps you identify the services you will offer. Connecting with powerful organizations can help promote your company. Tying up with Chamber of Commerce and other associations gives the opportunity to obtain update about the latest business trends. You can also obtain valuable information by networking your contacts. In like manner, seeking advice from experienced business owners will enable you to obtain helpful tips in effective managing of your marketing research company.

Definitely, you cannot run the business alone that is why you will need to hire qualified staffs that have experience in marketing research. In looking for staffs you should include the requirements and job description. It is recommended to hire competent staffs as they can help you in expanding your marketing research firm.
On the other hand, you can make customized questionnaires that can help you gather relevant information to the advantage of your clients. The questions should be short and provide easy to follow instructions on how they will answer. As much as possible, you should focus in just one topic yet the questionnaires should include general questions in such a way that you can obtain demographic information. Communicating with other local business owners will keep you in the right track and at the same time understand the client’s needs and challenges in the marketing aspects. You can continuously obtain clients as long as you can help them solve marketing issues.


  • Priyanka said on March 6, 2011
    Hi, We have recently started a new market research firm. We are planning to work online market research projects. We are in Hyderabad, India. Please suggest some suitable points. Thanks Priyanka
  • Priyanka said on July 14, 2011
    Hi, I'm planning to open online market research firm. Can some one suggest me in writing business plans for this. I'm mainly looking to open market research in Primary research. Handling survey designing, collection of data through online, Preparing analysis report and submitting to client. We can work on Business to Business and also consumer projects. Please suggest me how best I can make my business plan. We are planning to start our business in Hyderabad, Andhra Pradesh, India. Thanks and regards, Priyanka.
  • sujit said on April 17, 2013
    Hi @Priyanka, good day, would you tell me , on which industry are you focusing ? we have some requirements from AP. regards, Sujit. 9051180666
  • paresh said on September 6, 2014
    Paresh , Mumbai, India. I want to set up own business for Market research Data Processing, It includes,
    1 Data Processing, Cleaning, Tabulation, Open end coding and charting
    2 Data Entry.
    Please Help. I have more than 7 years of experience in Data processing
  • Sani Manuel said on November 7, 2014
    I am setting up my already running market research firm in consumer and product research. I need partnerships from other countries. I'm always online, interested partners should contact me via
  • Rishi Bhasin said on July 30, 2016
    I want to begin working with some New market research companies. I am located in Goregaon west, Mumbai please connect with me if someone is looking for my services from Mumbai. I am new to this Industry and want to work as a freelancer. connect with me on


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