MyProjectTracker – The Blog

Market research is a vital tool in understanding the overall placement of your business in that market. Market research covers everything from whether there is actually a market for your product, how your customers would perceive the product,how they make their purchasing decisions and what your competition is doing.

In other words, market research gives you a full picture of the battleground your business is either in or about to enter.

As new business owners, we found it a real struggle to get our heads around how to conduct market research.  We had visions of agencies, marketing consultants, the whole nine yards.

We also had zero budget and really didn’t know where to start at all including what questions to ask!

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Marketing and sales, the key functions of any business to generate the revenues to keep you in operation. But when is the right time to start marketing and sales activity when you are a start-up business?

This question needs a bit of thought. When you are ready is the right answer, but what on earth does that actually mean?

Are those who shout their intentions from the roof-tops and let the world know that they are coming before they actually do correct?

Or is it more appropriate to stay quiet working away diligently in a “black box” only targeting a selected audience to achieve your purpose.

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