Questions

How can I do a market research?

Non technical here. Looking for some good material that could guide me .

6answers

- Define the appropriate market you're targetting
- List major producers and consumers by geography and key products.
- Visit their websites to get more informantion.
- You can buy reports from consulting platforms which are expensive.
- Or contact an expert via like me via clarity for calls or in depth reasearch which are cheaper.


Answered 3 years ago

Depending on your industry, you could find local competition using https://www.LocalLeadFinder.net

It’s a tool that lets you put in search terms on different types of businesses and then generate full details about them.

Great for market research and outreach.


Answered 3 years ago

If you consider yourself to be non technical, you can always try the R&D phone call. You are asking for the key decisions professional opinion to best develop your product/service. This works in two-ways, 1. you empower them to feeling their opinion is valued. 2. you are also planting the seed for the future with that person.

It has worked for well for me and my clients.


Answered 3 years ago

Find a competitor in the niche you want to go in. See what their site looks like, look at their users and try to identify a subset that you know about (like where they hang out, what they read, etc) and can reach easily. Then, create your product / service. Your site should do the basic functionality that the users want, but you need something that differentiates you / improves on the competition. Then, reach out to this group and get them to use your product. If you get to the point where you have a product/service and regular users who like it, then you are ready to scale.


Answered 3 years ago

Your can't do market research if you don't what you want to look for. Ironically, if you don't research how can you realise what you want to have.

This is a chicken or egg come first tale.

You should be making market research and adjusting what you want at the same time. So, the first step is to keep doing it to reach an equivalent stage or trigger point where you know that is the market you are looking for.

The first step can be in many approaches: brainstorm, random picking up words to associate with, start from your mission/ vision, talk to experts, talk to street people ...

When you know roughly what you want, go in depth to study the market (you can search google on how to study a market or call the expert).

Next, develop a hypothesis on the market and test your hypothesis. Once you clear this portion, you have clearer picture what you want to do.

note: Google is the number place to do market research


Answered 3 years ago

Hi, Market Research is one of the most important tasks to undertake when either starting up a new company or expanding into to territories.

There is plethora of tools you can use, some are free and some you may need to pay for. It also depends on the level of work you are willing to put in.

Mintel & Euromonitor are the go to sources for market research data. Here you can alter and set your criteria and deep dive into different industries to find the information you need.

Surveys are an awesome to gather intel on your prospective market. You can create free surveys through services like SurveyMonkey. You can actually ask the questions you want the answers to!

Turn to Social Media, engage with your followers to find out what products and services really gets their motor running. From this you can now start to make informed decisions that have the most likely return on investment.

Finally you've got the web, use it to its full potential and start researching your competition. Take a lot on the Maps and see how far or close your nearest competitor is.

If you need any further help my team and I or on standby!

I hope this helps you with your research! Good Luck!! :D /C


Answered 3 years ago

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