When creating research objectives, consider these key areas: Identify specific questions you need answered about your market, customers, or competitors.
Define the scope of your research to avoid gathering excessive or irrelevant information.
Clarify how the insights will inform upcoming product decisions.
Establish measurable goals for what successful research looks like.
For example, vague objectives like "understand our users better" lack direction.
Instead, create specific objectives such as "determine why customers abandon our checkout process" or "identify which competitor features are driving customer acquisition." Write down 2-3 clear, specific research objectives for your current product or a product idea.
Each objective should directly connect to a product decision you need to make.
[1] Market research components Market research has several main parts that help you make better product decisions.
These different parts work together to give you a complete picture of the market and guide your strategy.
The key components of market research include: Overall market landscape: "Is this market worth pursuing?" Understanding the broader context in which your product exists, including market size, growth rate, and industry trends.
This provides the foundation for all other research.
Customer research: "What do users truly need and value?" Investigating who your customers are, what they need, and how they behave when interacting with products in your category.
This reveals opportunities to create value.
Competitive analysis: "How can we stand out in this space?" Examining competitors' offerings, strategies, and market positioning to identify gaps and differentiation opportunities.
Level 3 · Discovery & Market Research