By Lynette Zang Uncover the secrets of your industry and your target market. Eliminate false assumptions and give yourself the power of knowledge and understanding. Market Research is a solid foundation to build a business strategy and a marketing plan on. Take the time, spend the money, and give yourself this powerful tool.
Market research is the means to discovery.
It can cover your industry, your competition, and your target market. Here are a few ways to gather this information. It should include a detailed breakdown of the size and specific make-up of the industry and a breakout of how your focus fits within the industry as a whole. It will look at current and future government regulatory influences and the possible affects on the industry. You an discover all other industries that are your competition and competition within your same industry.