Author Articles: Gaurav Chauhan


 

Market Research Tips for Beginners/ Startup Founders

January 6th, 2016 by Gaurav Chauhan
 

What is the code for a successful startup or an idea and which is the most effective and foremost activity which serves the base for all information base, innovations and decisions in an organization? Answer is not that difficult, Its Market research; actually Market research is the only source for gathering all the latest external information at large which in return gives the purpose to all the activities going around in the present and coming in the future. No manager or an entrepreneur could ever took any key decision with the guesswork, obviously there is some calculations involved in the market potential and forecasts reports otherwise nobody would risks the money involved (P.S. Everyone loves money). Still some ideas don’t get the success or very weak response after being investing much time and money on the research. Market research matters, when done correctly, you gain decision-making power. If done incorrectly, it could end up costing your company millions.

For an entrepreneur or a business it’s the tool for spotting trends, validator of ideas and the base for innovation. I also as a budding entrepreneur had chance to do market research for an idea for which I and other partners have tried different tools, techniques and sources for that. So, I think I can share our experiences with you to get some advantage when you do it for yours. Though we are not experts, here are our learnings from our market research efforts.

  • The objective of the market research study or the thesis should be clearly defined and precisely mention the main and sub points to fulfill the purpose in the exact manner. The target group/ audience must be defined at this stage so as to design the questions and the direction of the research to be done.

  • Test your questionnaire before finalizing it by practicing it with your friends and peers, use their feedback to make changes in. Respondents recruitment sheet and criteria must be prepared according to the target group chosen.

  • Choose the tool as online and offline media to conduct the research which suits best to the target audience. Try to use both if it satisfies the conditions and criteria, It will give wide and deep understanding of the market.

  • Make respondents feel relaxed and comfortable during the interview. The questions must be open ended and asked in the logical order. Don’t assume anything, ask questions for it.

  • Always keep the notebook handy and record responses and notes you are observing, note down small details relevant to your project. Take pictures of the people and objects to make reference afterwards (ask for permission before taking pictures).

  • Put all the data in one place and try to categorize the similar points in one header; try to correlate if the data is highly scattered. Come with clearly defined, grouped sub heads which are proper structured and organized to make it easy to share and understand to other team members.

  • Use visual representation techniques such as charts, bar graphs and pie charts to show the relation between key variables and make it more of the data in tabular form. Bring out the emerging trends from the data and brainstorm to gain the different perspectives on the data.

  • Using these techniques and tools we did our research for a travel platform. Though our target audience was very specific (22 to 30 years) we did our research offline in various places in Delhi. These are the certain tips to follow for your market research study, you can tweak and adopt the process as you feel comfortable to go, you will learn during the process. This is it for now, I ll bring more learnings from our journey to make our idea work, stay tuned. You can reach out to me at gaurav.chauhan@adianta.edu.in or follow me on _gurugaurav twitter.

    Share Button
     

    The Fire

    October 8th, 2015 by Gaurav Chauhan
     

    It was a spark that became a fire, I as a young kid used to look at the things in a different way and wonder why nobody is doing anything about the problems of pollution, environmental threats and state of technology.  The mind always used to look for the solutions to see the desired change, that urge to make everyone’s lives better and empower people with innovative products has turned into fire and has led to leave the job in marketing research. This burning desire has actually taken the center place now and driving me to go off track.

    That’s why I chose the different route and came to Adianta to become active member of its innovative education system so that I learn from that and develop solutions backed by innovation. Innovation is the key for development and whatever we see around us is the result of these over the time, thanks to inventors and leaders to make that possible. So, to ideate and implement on the next generation of products and ideas, I needed a space surrounded with intellectuals and change-makers, Adianta is serving it well. The Learning system at Adianta is different from the conventional ones and very well aligned with the needs of current startup culture, that’s what I appreciate. So, I look forward to see the transition in the next 12 months and achieve the goals and fulfill the fire from the early stage of my life.

    Share Button
     

    Social Media and Personal Branding

    August 26th, 2015 by Gaurav Chauhan
     

    It’s the Era of Social Media- The internet 2.0, social media plays a very crucial for disseminating information throughout the network. Our profiles on these network give us the identity on that platform which is created by the information provided by us to showcase ourselves. The information includes some simple details of us like name, age, location, interests, education or work history and by using these keywords anyone can find us there by simple search. Person finding us online can connect to us by having a look on our profile and activities on the network, these activities become more helpful in connecting the people especially when they share the same interest or background. So, Its how social media and information provided by us helps in connecting to our friends and networks online.

    The branding of products makes more sense in the days of marketing and competition, it is simply used to differentiate one’s brand from another. Personal branding in the same way helps in setting us different from other people online, by providing the information in a different way and just by the different online activities we differentiate ourselves and make our brand strong than others. Our online activities helps in setting the image of us in the mind of others who check our profile. So, on the network like linkedin, facebook and twitter the people has ample amount of knowledge of our brand that stays online. And on that basis as well recruiters hire people as it helps them mapping our skills, interests, causes and our personality in all. So what we do to improve our brand some tips are- updating the status, sharing information and useful articles, tagging friends online & using hashtags, starting the conversation on a topic, updating profile description once in 3 months, integrating the profiles on different platforms, writing the blog posts and express your thoughts. These activities help in making a good brand of ours online if we follow the routine, services such as Klout.com and twitter analytics also help in checking our expression, it is also has to be done regularly to see the results. So, Its all with personal branding for now, will come with more tips and useful articles online, thanks for reading.

    Share Button
     

    Making sense of being on Online Social Network #Workaloud

    August 19th, 2015 by Gaurav Chauhan
     

    As today we can easily notice that most of the internet users in India have a social media accounts, at least they have one on facebook. The world itself is witnessing the change in the internet penetration as it has increased by 7.9% in the year 2014(July 1), whereas India has shown the rise of 14% for the same period. So, we can say that this globally more people coming and joining internet and social network because of increased connectivity, availability of smartphones, ease of use and sense of getting connected to friends etc. And what are they doing there- they take selfies and pictures of friends, posting status about personal and professional life, posting and tweeting about new places, friend’s marriage and restaurants etc. and we see a large section of our wall filled with same stuff every other day. And we see the quality of these posts and shares depends on the network and friends we have.

    We altogether have different interests and tastes, some may like scoopwhoop, trollers or some like political parties or religious issues and some just only like, comment & share the knowledgeable piece from the web or give their own insights. The people who share the informative piece and help others to know about different issues usually get more followers and good comments than a guy posting on absurd topics. And we tend to follow those who give us some good ideas and food for thought and in return we share their views on our network as well that may lead to the increased followers of ours as well, for example on twitter for such cases. Then it becomes our responsibility to share the valuable and well thought pieces as we all need something new every other day to think and act upon. So a guy who really has a good stuff can spread it further to the network and can bring about change in the people’s views and to bring awareness to a cause and solution to any problem just as we have seen in the ALS Ice bucket challenge and campaigns like Clean India (Swacch Bharat Abhiyaan). It proves that any positive content shared by an active and reliable person on his network can go a long way and can make a bigger impact. So to make the most of our social media existence we should share the positive and progressive content with our normal routine of posting selfies as well. We should feel free to share our views as well to exercise our freedom of speech, we may face negative comments and feedback but that’s only for the time being. But Yes, Caution Ahead express to the point where you are not trespassing others area of privacy, otherwise our country has seen the arrests of authors of some offensive posts and on their views on sensitive issues as well.

    So here on the second day at Adianta i.e. #Laptopparty we learned the basics of Social media, using twitter, Livetweeting and #Workaloud etc. Twitter is very effective way to say yourself, we should follow some really sensible people rather than just being there for following celebrities. Please comment if you like or have something to say about the today’s blog, I would be happy to see that.

    Data Sources : http://www.internetlivestats.com/internet-users/

    Share Button