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Chapter 4: Action Step 4 Analyze Your Market: Who will want your product or service? Research Your Potential Market Industry trade groups Library Business publications Small Business Development Centers Company promotional materials Websites Interview industry experts

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chapter 4 action step 4

Chapter 4: Action Step 4

Analyze Your Market:

Who will want your product or service?

research your potential market
Research Your Potential Market
  • Industry trade groups
  • Library
  • Business publications
  • Small Business Development Centers
  • Company promotional materials
  • Websites
  • Interview industry experts
  • Interview customers and potential customers
define your market as narrowly as possible
Define Your Market as Narrowly as Possible
  • By geography
  • By demographics: age, gender, or ethnicity
  • By purchasing patterns such as seasons, shopping times, or events that trigger purchase
test before you launch
Test Before You Launch
  • Trial sales calls
  • Put samples in stores
  • Interview potential consumers
  • Interview consumers who used your test products
  • Keep tabs on competitors…always