How to Do Market Research

Often it is because of lack of money, others by ignorance and more flat because they consider not significant. But the truth is that an analysis of this type helps a lot to determine the viability of a project or product.

Ideally hire a specialized market research company, for there is a no simple matter; However, people who have a small business can take into account some essential questions to develop a basic market research.

Here are some basic questions you can use to build your own strategy. It will not be a tool made with all the precision and quality required, yes will be very important to carry out business plans or to start a business guide.

Roadmap to develop/do a simple market research:

1. What are the formal values ​​of the product or service you sell, or do we want to sell? It is very important the answer to this question because it depends comparison to do with competition.

2. What are the added values ​​that include our products? Recall that added value is anything that will give the customer to prefer us over others.

3. Our product or service is or will trademark, licensing or other requirements? Consider this point, under which if achieved a successful product could be "pirated".

4. If already have a line of products have to answer us: What is the sales tax estimated by product? In this way we know if we are actually complying with the objective of each.

5. What is the market size? The answer to this question must be one of the most detailed and reliable answer, and we must investigate the best we can data sector in which our product or service. To do currently have Internet is a very effective way to search this information tool.

6. What are the market trends that will run? In addition to the data we find would be good to seek the opinion of experts and analysts, to know where we belong industry is headed.

7. How to segment the market? By income, age, gender, final consumption or industrial, etc. Here we must be very careful not to revolve and establish the market segment that really interests us.

8. What are our direct competitors? This is a very important point because to predict the characteristics of the competition will be easier to be above them. At this point it is important to examine whether there are indirect competitors or companies that can offer substitute products as well as potential competitors, ie companies that are not currently but could enter the market in the medium term.

Responding to these questions will put you into steps of market research!

Waiting for your replies and valuable answers!

Nice layout. I personally just rely on the old yahooanswers method. I pick a keyword, then go over to yahooanswers to find out what people are thinking about it. I use their answers for longtail keywords in articles.

This post is great for people who want to pinpoint exactly what their market is.