When looking for information about your business and your competition where do you look?
I look at what they DONT offer, that way you can always find a way to offer something different or better. Which is what everyone wants.. Something new!
Go to the competition's store, website, annual report, about us, any of that. If they are publicly traded, information is easy to find.
Go to industry websites and find out who or what is a cooperative in that industry. (ex. cotton + textile mills = cooperative) You can glean a lot of information there.
Do demographic research for you target market. Average age, income, lifestyle, family, kids, interests, where and how often do they shop and how much do they spend on average on your type product in a given time period.
Research the area you want to set up shop if you are doing bricks and mortar. Is your target market there?
If you can't compete down in price with your competition, compete up in value. People will pay for better.
If well researched, it would mean a body of information drawn out of opinios freely given by consumers that are potential customers you would like to do business with. It would provide you with valuable information that would allow your business to direct its advertisement campaigns and other efforts to boost sales and business. If it is a flyiing blind game, why do it?
Market research is a basic thing you need to do before making any plans.
There are sites like Google adwords tool or Gogle insights where you can research your keywords for free.
If you want some advanced market research then you probably need to purchase some merket or keywords research software.
by Wayne Tully 9 years ago
How do you obtain stats and other such things like market share and trends for article directory content...I am currently trying to do some research into this area and my head hurts trying to find a site that delivers quantitive and qualititive market research in this area....how do you find this...
by Cholee Clay 5 years ago
My husband thinks it would be a great idea if I started looking into creating my own bakery. I do love to bake, and I create some crazy delicious cookies however I'm not sure I would be cut out for the baking industry. My family loves my baking, but I'm not sure I would be good enough for complete...
by Ritsos 7 years ago
I think it was RyanK that mentioned this initially and I;ve finally got round to downloading the 12 day free trial and have watched the first 5 intro videos which look really good.I wondered if anyone uses this for keyword research ... I rarely pay for software preferring whatever is free but this...
by Susan Reid 6 years ago
"People will look into the connection with his father-in-law who is pretty heavily into natural gas and several people have raised the issue of fracking and his support of that," Bice said about Daniel Little, Ryan's father-in-law, who owns interests in four companies that lease land for...
by jennagleave 6 years ago
I'm just wondering if some of you lovely Hubbers would be able to advise on how you would approach this.I am thinking about starting my own business selling children's clothing, baby gifts, accessories and some items for Mum. My problem is that I am not entirely sure where the best place to start...
by CapriCookie 7 years ago
What ways do you use social media for market research?
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