Market research, yikes, does that mean being stopped in the street by a nervous looking individual asking you questions about your favourite brand of butter or whatever the topic is this week?
Not necessarily, in some cases it can actually be quite fun and what's more you can even get paid for it.
There are a few companies who use specific focus groups for their market research rather than just picking people off the streets.
The people chosen to take part in these focus groups are individually picked from a database of subscribed members depending on their sex age etc who meet particular requirements for the specific research required.
These focus groups are usually held either in a small office or via telephone. The work is very easy and just requires you to answer questions on various topics.
Depending on the length of the session and the subject talked about, the extra income can vary from a few pounds to up to a 100 pounds.
Also if the focus group is held in an office, which you have to go to, the company will usually lay on free food and drink as well.
You can also earn extra cash by recruiting others to take part in market research for the company.
There are also online companies that will invite people to take part in online surveys and questionnaires. These don't pay very much but then on the other hand they don't take that long to do either, usually only a few minutes.
So it may be worth a few minutes of your time every day to build up a small pot of extra cash to spend on something nice for yourself.
Do I need any qualifications or training?
No training or qualifications are needed to take part in market research. All you need is your own opinions; what could be easier and in some cases fun.
The only costs involved are travelling costs if applicable. If the focus group is to be held over the telephone the company will usually telephone you, so there won't be anything added to your phone bill.
Online surveys will just require that you have your own pc at home and an Internet connection. You will also need to check your email every day to receive the invites to take part in online surveys, as they usually only remain active for a day.
If you like meeting new people and enjoy giving your opinion then it is a fun way to earn some extra income and a great way to top up your frugal living budget.
The only drawback is that the work is not regular and so the amount that can be earned in a year may not be very much. You may find that you are also screened out of many of the market research surveys and will miss out on payment.
To find out about this work look up either online surveys via the Internet or for focus group surveys in the UK see www.sarosresearch.com or www.greenbook.org in the USA
Find more ways to suppliment your frugal living with some extra cash with my other extra income ideas.