By Daniel Pfeifer at February 02 2020 14:12:48
Explain the fundamentals of the proposed business: What will your product be? Who will your customers be? Who are the owners? What do you think the future holds for your business and your industry?
Studying your market will give you insight as to how you can make your business more appealing to people. Market research is more than just noticing trends in your customers' buying habits; it's discovering what motivates your customer to buy. Don't assume that you already know because you've been in this business for years. This study often unearths characteristics about your market that are hidden or new. It's best to discover these things before your competition.