Entrepreneur: “Market research, then, can prove invaluable in determining your idea’s potential. You can gather information from industry associations, Web searches, periodicals, federal and state agencies, and so forth. A trip to the library or a few hours online can set you on your way to really understanding your market. Your aim is to gain a general sense of the type of customer your product or service will serve—or at least to being willing to find out through the research process. ‘For example,’ says Shenker, ‘if you don’t know if your product will appeal to the youth market, make sure you include a sample of that population in your research efforts.’”
via Angie McKaig.
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