Completing market research – can save time, money and a lot of trouble. The most successful businesses will:
- Find people who will be willing to pay for your product or service (there have to be enough of them to make it worth your while) – research market potential using census data and demographic databases
- Decide how you will deliver the service or manufacture the product – research production options using business databases
- Know who you compete with – research competitors using business databases
- Understand whether your product is unique or proprietary – research patent filings
Don’t forget to search through the Resource Navigator to find local organizations that are here to help you with your marketing challenges.