WAYS OF MARKET RESEARCH FOR YOUR STARTUP by Vijay Wankhede
Hello from Mr. Vijay Wankhede!
Mr. Vijay Wankhede- an entrepreneur, business consultant, writer, speaker, motivator, psychologist and investor has come again this time with the ways you can do Market Research for your Startup. Continue reading the blog and know the strategies of doing Market Research for your Startup.
What is Market Research?
Market research is the process of gathering facts about a certain market. Such analysis is about studying the market dynamics as well as the rationale of potential customer behavior. You will get to know your potential clients and the business conditions, thus decreasing the possible risks of producing a product that nobody wants.
How can you do Market Research for your Startup?
Whether you are starting a company, introducing a new product, or growing your small business, market research will take you to the next level of understanding the segment you work in. Check out these steps described further in more detail:
· Define the purpose of your marketing research
· Study types of market research
· Check industry trends (drivers and barriers)
· Compare your competitors
· Create your ideal customer profile (ICP)
· Choose your market research method/methods
· Check if there is secondary market research available
· Learn about tools for doing market analysis online
· Ask the rights questions
Hope this blog would be helpful for you all! If you still have some doubts about any topic or need any help in your business journey you are free to contact us. Vijay Wankhede is here to help you to give you complete business assistance and Consultancy and to take your business to new heights. People, if you are thinking to Start your company or to take your company to new heights, you can contact us anytime. We are a Business Training Consultancy providing Customised training solutions for all the Entrepreneurs and brands all across the world. We partner with young entrepreneur and existing entrepreneurs to help identify and understand their development goals and challenges, in order to help them grow & succeed ensuring that all their business objectives are met and accomplished.