Posted on 09.06.2019Active
You will have autonomy to write the market research from zero but this is a guide with the type of information that should be provided for a good market research:
• Who will buy your product?
• Who will supply the goods you need to operate?
• How large is the total market?
• What percentage of the market will you reach?
• What is the market’s potential for growth?
• Can this market be segmented between different types of customer?
• What are the decision drivers for different customers, e.g. Price, quality, reliability,
• Is the target market local, regional, national or international?
• Who are the direct and indirect competition?
Market research must
• Have a clear notion of the number of consumers that would be interested in acquiring
the good or service offered by the academy, in what time frame and what price they are
willing to pay.
• Indicate the characteristics and specifications of the service or product that will help us
decide the type of packaging, and establish the characteristics of the product that the
consumer wishes to buy.
• Tell you what kind of people will be interested in your goods, which will help with the
orientation of the business, and determine the volume of production.
• Provide information about the appropriate price for your product or service in order to
compete in the market. Keep in mind the irrational concept held by many people that
“an expensive product will normally be of better quality than a product of low cost”.
• Help you decide the right size for your business to start at and give you an idea of future
expansion possibilities and its ongoing growth .
• Tell you the usual distribution channels for the type of product or service that you are
offering and what its function is.
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