Market Research - is it really that important?
Thursday, August 28th, 2008There are two comments I often hear from business mums:
- “I can’t start my business yet, I’m still doing market research”
- “I don’t have time to find out what my customers really think”
These show different thoughts about market research for your business. Market research is important in any business, especially ongoing research to see if you are still meeting the needs of your market.
Donna-Marie Coggins wrote a fantastic article on Market Research in Issue 11 of the magazine. She talks about assumptions small business owners make and how this can be dangerous.
It is important to understand your market and what makes them tick, and the sorts of products and services they want to buy, and it doesn’t have to be an expensive process. It can be as easy as sending a survey to your customers to get their feedback.
To read Donna-Marie’s full article, purchase Issue 11 of the Business Mums Magazine. Another resource to help you with market research is the Quick Dirty Guide to Market Research by Candice Edye.