This may seem simple, but you need to give customers what they want, not what you think they want. And, if you do this, people will keep coming back - John Ilhan
Market Research Activities You Can Do
- Examine existing products / services: look at other similar products / services on the market:
- Can you learn from them?
- What do they do well?
- What do they do badly?
- How is your product going to be better than everything else that is available?
- Examine your target audience: look at your target customers:
- What are their needs? A questionnaire is a good way of finding out what your customers want.
- You could also talk to someone who is an expert in this area. For example, if you are producing a piece of craft, how about talking to a successful craftsperson in your area? You might learn many valuable lessons.
- Carry out a product demonstration: you could show your product to some of your target customers and ask them for feedback before you start selling it.
- Keep an eye on the market: even after you begin selling, keep an eye on what is selling well and what is not selling for you.
- Perhaps you should drop the products that are not selling and concentrate on the ones that are?
- Ask your existing customers if there is anything else that they would like to buy from you.
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