How to Carry Out Market Research: The key to good business is in the planning!

By 50MINUTES

Ready to take your business to the next level? Find out everything you need to know about effective market research with this practical guide.

If you are considering setting up your own business, then market research should be the first thing on your mind. How else will you identify your market, your competition and your potential clients? This helpful guide will tell you all there is to know about the basics of market research, allowing you to move into the world of business as prepared as you can be!

In 50 minutes you will be able to:
• Identify your target clientele and set your pricing and positioning accordingly
• Understand how to carry out effective market research
• Learn the best type of format to use for market research and whether you should do it yourself or leave it to professionals

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• Language: English
• Publisher: 50Minutes.com
• Release date: Aug 25, 2017
• ISBN: 9782806299277

Book preview

How to carry out market research

Problem: how can I carry out market research that will give me a good idea of the competition and the market before launching my product or service?

Use: effective market research provides strong foundations and a method to anyone who wants to start up their own business or launch their own product.

Professionaluse: marketing, coaching, network development, business creation, project management.

FAQs:

Is market research really necessary?

How should I format my market research?

What is the difference between market research and a business plan?

How can I carry out research if I only sell my products or service on the internet?

How much does market research cost?

How do I know if my research is accurate?

What method should I use if my project is extremely innovative?

Market research is a concept which can seem daunting. When creating their own business, many people get discouraged even before they begin to investigate what it is all about.

However, it is a crucial step which, far from simply comforting you with the idea that your project is viable, should allow you to compare your projections and intuitions to the realities of the outside world. This is the perfect name for your market: the outside world. Like all domains, it works in its own way and has its own rules and regulations. It is also home to your competitors and your customer base. By comparing all of these different elements, you can determine your positioning, your predicted revenue, your business policy, and so on.

All this jargon may look a little frightening, but its aim is to allow you to set out armed with the knowledge of what