Friday, 9 May 2014

Step 19. Market research

Cheap way is always good way for a start up. Try to do market research when you need it with a help of network around you:
  1. ask your friends and relatives
  2. get the survey and ask people what they think.
Target audience: get people from your professional networks (linkedin, xing, etc) or social networks to participate, ask your friends to share the link to survey with their friends by e-mail to have as many responses as possible.Tools: you can use free online surveys as a vehicle for that. SurveyMonkey is one of those tools that will be helpful for you.How: if you have never created any questions for surveys in your life, here are some tips and free resources for you:resource 1resource 2 and resource 3. There are a lot more, of course. These are just to start with.

A list of questions that can be answered through market research:
  • What is happening in the market?
  • What are the trends?
  • Who are the competitors?
  • How do consumers talk about the products in the market?
  • Which needs are important?
  • Are the needs being met by current products?
Several interesting things I have found here and the information is video and text based.