Our team compiled this practical guide to conducting market research. We found these steps to be particularly helpful in bringing a client's product to market in a new country or within a new demographic.
Identify key players and the competitive landscape.
Key players - Who are the key companies or businesses in your industry? Who are the biggest businesses in the industry and what are the core products and services that they sell? What are their business models? CompetitorsCWho
Competitors - Who are your key competitors in your industry? Are there businesses who are using strategies that are similar to yours? How are you different?
Conduct competitor analysis.
Questions or thoughts to consider:
Identify industry growth and industry trends.
Conduct market research by identifying the market size.
Pinpoint market trends.
Identify target audience based on customer information.
Create buyer personas based on target audience analysis.
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