Week3 - Market Research

Approach to Market Research

With the advent of the computer and Internet, options to research your market and customer base is almost endless. The key to avoiding falling into an endless process of collecting information is to start with a research plan that lays out exactly what your are trying to find out.

A one HUGE tip is to make use of your library's 'Reference Librarian'. That individual is an expert at locating information and showing the public how to identify sources of information. Call your local library or nearest regional library to find out if the reference librarian can meet with you for an hour on your project. Keep in mind they will NOT do the work for you, but can show you where to spend time looking!

Here is a W3c Research Plan Guide to help you find the information you need to complete a business plan. This does assume that you are starting a business in an industry you are already familiar and have some experience. If the industry is completely new to you, then of course you will need to spend more time and energy learning the basics of the industry and the markets it serves.

You can also tap into online resources like SBDCnet.org.

www.sbdcnet.org/market-research-services

Some Market Research Sites and Tips

http://rapidbplan.editme.com/week3dd