Are you looking to test the viability of the poultry farm market in your area? Here are 9 of the best ways to do market research for your poultry business.
You are one of those who love “ But it’s poultry, why should I do market research? Well, I will advise you to let go of this belief while I show you why conducting market research is very important for your poultry business. I will also show you how to do market research for your poultry farm inexpensively so that you can save money while doing it.
If you don’t have any driving skills or experience and are lucky enough to buy a car, could you get on and start driving without learning everything there is to know about the car? If you get into a car and start driving without studying or understanding the functionality of the car; What’s going to happen ? Okay, I’ll tell you what’s going to happen – in a few hours; You would put your life in danger and crash your car. It’s not even the worst thing that could have happened.
I just put the illustration above so you know how important it is to learn the ropes of any business you want to get into, not just poultry. If you don’t, you will end up losing your money, the trust of your customers, and possibly even the lives of those who care for you.
So what does the poultry market study mean? ? It’s simple. It means to understand your market “. This includes a thorough understanding of the people you are selling and how to contact them. It’s about collecting valuable information that will help drive sales. People buy poultry products every day, but the market is already very competitive. As such, you must learn methods to attract customers to your side, especially if you are new to the business.
What does the poultry market research do for you?
- It helps you understand consumer behavior. You will be able to understand what you want, who your customers are, how they make purchasing decisions and how they react to change.
- This will give you ideas on how to grow your poultry business. … You will be able to learn how to increase your income.
- Proper market research can also help you outperform the competition. It will help you spy against your competition so that you can develop a better strategy.
- Market research can also help you evaluate your products. You may not be able to enter the market if your products are not priced correctly. High priced products can be cut for consumers, while too low priced products will also raise suspicion about quality and become buyers. You have to find a balance, and for that you need adequate research.
- You’ll also be able to learn about industry trends and best practices you can use to help your business thrive.
How to conduct market research for a poultry business
It is expensive to conduct standard market research. You will need to hire experts who can charge you thousands of dollars to do the job, but there are inexpensive ways to do your own marketing research for your poultry business without bringing in experts. Here are some very inexpensive ways to do it:
a. Research reports: you should keep an eye out for other people’s research reports already written. Many sites offer such reports if you want to do some research, but if you are using a market research report written by other people, there are a few important things to note:
- Reports should match your market. For example, you cannot use the Chinese report for the US market because the culture, tastes and preferences of Chinese people are different from Americans.
- You should check the dates to make sure this is a recent report. Market research conducted in 2008 will likely be useless in 2014 because a lot would change.
- Make sure it belongs to a reputable site; preferably a government agency website so that you can be sure of the accuracy and reliability of the information.
b. Learn from others -. Another way to do market research for your poultry farm is to learn from others who are already in the industry. You can learn a lot from the experiences of others. Join unions, read industry publications, communicate online, and ask questions of other people as you use their opinions as the basis for forming your own opinions.
vs. Personal research – … Another inexpensive method is personal research. Buy some great shoes, fill up your vehicle and get ready to move. A camera, voice recorder, and laptop are also needed to record your results, you need to visit poultry shops and see how shoppers make their choice. which products attract the biggest buyers ?
- What makes this product unique and why do people choose it?
- What is the price of the product?
- What does the packaging look like?
- What is written on the label ?
When you do this in a few days, you can draw your own conclusions and get a feel for how to package and price your products to attract buyers.
d, Personal interviews … You can also learn a lot from potential and existing customers by talking to them. Visit people’s homes and offices and tell them about existing poultry products. That they would prefer differently ?
- What do they think of the prices?
- How they will react to new products and what they think about price increases and decreases ?
Answering these questions will help you better understand consumer behavior.
e. The Internet is also a good place to do market research for your poultry products. On the Internet, you can find a lot of information to help you make informed decisions.
f. product testing -: It’s a practical way to do market research. This includes producing small quantities of your products to see how they are doing in the market. For example, if you want to produce poultry feed, you can start by making small bags and putting them on the market for sale. The way the product is received will give you an idea of how to improve the products and whether you should start a business or stop the process.
g. Consultants hired – … Although it costs money, it’s worth a try. This includes using the services of experts to conduct market research specifically for your business.
h. Surveys and questionnaires -: You can also use surveys and distribute questionnaires to better understand consumer behavior. There are websites where you can conduct surveys and get results for free.
I. Social networks – … Many people are turning to social media, and many companies are getting impressive market research results through social media. Sites like LinkedIn, Twitter, and Facebook are great for doing market research.