Why Market Research is necessary for a venture? Market Research is to be done to inquire about a viable market of your product or service which you are going to be ventured about.
Market research is an integral part of an business.
Market Research is to be done for a meaningful business .
Are you part of meaningful business? To find out a market of your product or service, research is a must to do act.
It is to be done systematically, sincerely with vogue.
AND the main fact to be emphasis is that about the customer.
Who is your customer? Who is your customer? Who is your customer? This should be clear to you and for your business.
First, decide who will be your customer to sell or serve your product or service at ease.
Jumping randomly with a great product/service will nowhere to but collapsed badly and will be out of market forever.
Just giving your security money to shop owner and going for a selling is not a right approach of selling or serving in the market.
Every facts of the product or service is to be cleared out.
Then again facts are searched, researched, compare then again searched, analyse and tested thoroughly for a better decision of selling or serving product or providing service to masses.
It may even lead to invention of a great product or service.
Even A passionate one! What are those facts to be searched or get queried about for an apparel business? Are they for boys or girl or women or men, aged or teenage? What are their age category? Are they skinny or fatty? What are the things of cloth they like most? What are the different types of fabric they prefer? What are they like to wear and why? Are they for business people or sports people or artist etc.
etc.
Lots of other if you want to excel.
Proper research can lead to new opportunities, new horizon.
Research will lead you to decide where to invest and innovate and expand.
Unnecessary buzz can be curtailed with a new strategic approach.
Lots of factor rises according to changing time, place, environment etc during a venture journey.
According to these changing trend product or service has to thrive and lead.
Success on market research is interesting and guaranteed!.
It depends on specific interest, attention and deep level of marketing.
If you want to thrive then dig for a deepest level.
Instead of spending huge money on other business aspect, investment on research is right way.
Have you observed the branded company outlets at your places? Are they vanished or still?Amidst lots of same category product/service, is there any hope for your niche product/service? Think, if yes AND if no, then also think and do your home work i.
e market research.
Apple is not blindly selling their iTune, iPad, iPhone etc.
They find out a huge market for music, computer, mobile phone.
Then they go step forward with the Apple product.
After detailed research and still committed on the topic Facebook is spreading their wings as number one social site in this world.
They cared about people and their customer.
Research should be go on and on along with the business cycle for a meaningful, inspiring business