First, it is important to establish clear goals for the market research activity you will undertake. You need to make sure you have defined what you need to know and why. Once you have established your goals, it is important develop a strategy and select techniques you will use to gather data. The two broad […]
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RSS feed for this sectionWhen to conduct market research?
Market research is widely viewed as a component of the planning stage of a business. Indeed, market research is critical for new start-ups and should be a key element of any entrepreneur’s business plan. Market research data feeds into a number of areas of the business plan, contributing to sections on: Determining the sales potential […]
Why conduct market research?
The goal of doing market research is to equip yourself with the information you need to make informed business decisions about start-up, innovation, growth and the 4 P’s: Product Improve your product or service based on findings about what your customers really want and need. Focus on things like function, appearance and customer service or […]
What is market research?
Successful businesses have extensive knowledge of their customers and of their competitors. Market research is the process of gathering information which will make you more aware of how the people you hope to sell to will react to your current or potential products and services. Whether you are aware of it or not, as a […]
Guide to market research and analysis
This guide is intended to help you better understand market research and its importance. It provides information on how to conduct a market research project, specifying several options that are available to you regardless of your market research budget. What is market research? Why conduct market research? When to conduct market research? How to conduct […]
What’s a business that can make millions?
There is an old saying that goes, “One can make a lot of money, if one wants to make a lot of money.” You must do three things to do what you want to do: 1.) Don’t follow your passion That’s right, I said DON’T. Passion-based businesses bring us bike shops, boutiques, bakeries and gimmicky […]
