market research?!

david1david1 subscriber Posts: 2
edited February 2007 in Selecting a Business
What is the best way to go about doing market reasearch before investing capital in a business that I may be the only one interested in? I am not sure that I would have customers. Is there a way that I can aleviate some of my fears by finding out that I would actually have a customer base, without spending money for a professional market research firm to tell if it is a good or bad idea?

Comments

  • BrunellaDBrunellaD Londonsubscriber Posts: 5 Member
    If you want to do your market research entirely for free, you might opt for the following options:

    - Google is the best information tool you could possibly hope for, you can find out a bit about almost anything if you look hard enough which makes doing at the very least basic market research incredibly easy.
    - Google’s Marketer’s Almanac in order to better understand how your potential consumer’s behaviour. Also, there is County Business Patterns that provides information on the areas of the country with all different types of businesses around.

    Do you have a low budget to invest? You could do it with us :)

    Hope to be helpful!
  • Nick MNick M subscriber Posts: 3 Member
    Know any startup founders looking for funding?
    If so PM me for a new source of finance for startups...
  • Justin evansJustin evans subscriber Posts: 69 Bronze Level Member
    Nowadays it becomes easy enough to find your competitors and to know about the market trends. You only need the internet to go online and know about market trends in no time. There are multiple social platforms can help you to get more knowledge about the market and people responses.

    I'm qualified Software Engineer and Marketer Performing my responsibilities with due professional care and competence. Recently I am working on projects for On Demand industry like ODTap and Cabstartup
  • Tuah BaoTuah Bao subscriber Posts: 176 Silver Level Member
    You can check if there is any demand for your product or service by Google Search:
    1) Enter your keywords. If there are a lot of searches have been carried out, then it could mean there are potential demands for it.

    2) Can you find any competitors? If you can, it means that there is already an established market.
    Tuah Bao
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  • saravanansaravanan subscriber Posts: 389 Silver Level Member
    The process of providing information to assist (marketing) managers to make better decisions is known as Market research.
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