Market research sounds complex, but it isn’t so long as you have realistic expectations about what you can achieve with the resources you have. |Since you are not a multimillion dollar business yet… with dedicated market research staff let’s look at what is reasonable.
It is collecting and analyzing information or data
- about your competition
- target market
- and the environment that your customer exists in
This information can be collected two ways called primary or secondary and we will be using both when writing our plans. It will be explained when and which type of research we are conducting.