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Market Research
Are you noticing that sales of a product line are soaring, but you're not sure why? Or is a trend moving in the opposite direction?
What do your customers like most about your company? Why do they buy from you? Is there one thing that you could change to convince people that you're the best for the job?
What's the most important, and least important feature of your product or service?
Do you want to know what your competitors are up to?
If you want to know the answers to these questions, you need some market research. This is what a couple of clients discovered:
A major news service asked me to evaluate the viability of entering the financial services market- and determined that the field was too crowded.
An Internet Telephony service had me research potential incremental revenue streams from their subscriber base, and found a way to produce profits while waiting for their service to catch on with consumers.
Market research is really just 'doing your homework'. But remember that you've got much more at stake than a grade on your transcript!
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