Market research is important to get as much information as you can about your markets and customers. You need to make sure that a market exists for your products, and that you are addressing the needs of your target market. It also helps you gauge your competitors.
Market research provides you with data that will determine if and where you can successfully sell your product or service. It is a very important step in the evolution of your business. Without research, you have no basis on which to answer even the most basic questions; questions that you must answer if you truly desire to successfully market your product or service.
Learn how to do market research with the tips and articles provided in this section.
Need to get information about a private company? Here’s a five-step game plan that should assist you in finding information on private companies in your industry.
If you know your customer, you’ll know what they want from you and from the products they buy. You need to know who you’re talking to in your marketing materials so that you know how to connect with them, not just talk at them. You’ll have greater success the better you know your customers. So, […]
Customers are not created equal: some are more valuable than others. Businesses that have the ability to determine the value of the customers have the edge in today’s highly competitive business environment. Customers fall into different categories, such as: Customers who are profitable; Customers who increase your competence . Customers who build up the image […]
Limited budgets kept most types of market research out of reach for small businesses. Through the Internet, small businesses have more research options.
Excellent customer service is key to the success of a small and home-based business. In fact, a superior customer service is your primary weapon against giant retailers and big businesses like Wal-Mart. To be able to offer excellent customer service, however, you first need to know and anticipate what your customers want. You should know […]
One of the first steps in examining your business idea is to get to know more about your market. If you have an idea for a business but you’re not sure whether a market for it exists or is big enough to support your business, you’re getting ahead of yourself.