Real Estate Market Trends and Forecasts Provided Workflow

Market Research Initiation

Type: Fill Checklist

Market Research Initiation This step involves defining the scope of the market research project, identifying key objectives, and determining the methodology for data collection. The goal is to gather information about the target audience, their needs, preferences, and behaviors, as well as insights into the competitive landscape and market trends. Key tasks in this step include: Developing a clear research question or hypothesis Conducting literature reviews and secondary research to inform the project Defining the population of interest and sampling strategy Determining the data collection methods (e.g., surveys, interviews, focus groups) Establishing timelines and resource allocation for the project By initiating market research, businesses can gain a deeper understanding of their customers and market conditions, ultimately informing product development, marketing strategies, and business decisions.