When you look at most businesses today, your business is convenient, Rather than manufacturing what you like, only businesses that carefully study and evaluate customer needs and fulfill customer needs are successful.
In order to know the needs of customers, Before starting a business, we need to do market research in order to weigh the needs of customers and business partners. Market Research means searching for information about the market situation that we will be heading to if we are going to start a business. collect Conducting tests and market research.
There are many ways to conduct market research, but survey, interviews, focus groups, and observation (4) are used the most. By doing market research, you can know for sure about a field that you are going to expand into. It can be more convenient in establishing the pricing strategy of your business.
You can find out more about your competitor’s business. You can anticipate new opportunities that may be available for your business. You can predict the risks that may occur to your business. You can find out what products (or services) of your business would be more suitable for your target market. Build a marketing team that doesn’t have to look around.