Market Research

APullelaAPullela subscriber Posts: 1
edited June 2008 in Marketing
Hi all,
I am new to the startupnation community.  I have a business idea and I know there is a need for it.  I also have gathered some research reports corroborating the need.  I am in the process of writing the business plan. I would also like to do some level of market research of my own.  Can someone recommend a best way to do one? Online surveys, 3rd party research studies, etc? What is the most economical, yet effective way to do it? 
 
Idea is in the food service industry. Thanks.
 
Regards,
Ananth
 

Comments

  • DaleKingDaleKing subscriber Posts: 141

    Hi all,I am new to the startupnation community.  I have a business idea and I know there is a need for it.  I also have gathered some research reports corroborating the need.  I am in the process of writing the business plan. I would also like to do some level of market research of my own.  Can someone recommend a best way to do one? Online surveys, 3rd party research studies, etc? What is the most economical, yet effective way to do it?  Idea is in the food service industry. Thanks.    Hello, Ananth. Welcome to SuN. I discovered a cost-effective way of doing market research a while ago, that I recommend to all of my clients. It`s a service called Survey Monkey.  It`s very easy to use. Dale KingDaleKing6/3/2008 3:30 PM
  • BrunellaDBrunellaD Londonsubscriber Posts: 5 Member
    Let’s start by saying that as long as consumers have problems, they will always search for solutions. In order to understand if your business works, you need to compare different points of view or different taste. One of the best ways is to spend some time in making an accurate market research. Everything is up to your idea, so it depends on features, pricing and distribution channels.

    Nowadays you can find lots of small companies that can help you by collecting qualitative or quantitative data about your idea.
    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 Marketest. We are a market research company which provides quantitative market research with an indication on how people think in the UK. With different panels, we are able to administer surveys on your topic and collect data in order to understand if new ideas or start-ups can work in the market selected.

    If you have further questions, feel free to get in touch. Hope to be helpful :)
  • saravanansaravanan subscriber Posts: 389 Silver Level Member
    Market research analysts are the information gurus of the business world whose primary role is to bridge the gap between commercial ambitions and consumer demand.
  • arjun123arjun123 subscriber Posts: 114 Silver Level Member
    Market research is one of the main factors used in maintaining competitiveness over competitors. Market research provides important information which helps to identify and analyze the needs of the market, the market size and the competition.
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