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Why do so many new products and service companies fail? Usually for many reasons. Companies often are so enamored of their new product ideas that they fail to do their research, or they ignore what the research tells them. It is important in product development to develop products that your consumer’s want, not simply what you desire to produce. With effective market research, you can determine the need for your service, a product's likelihood to sell, target-market demographics, and desirable store locations. There are numerous ways to uncover this information -- from online research to focus groups. Here are a few simple and free ways for entreprenuers to do market research: Step 1: Go to www.google.com Step 2: Identify key words that describe your target market and service/product offering Step 3: Run a search on each of those keywords Step 4: Research the top 10 Sites that show up on Google and the sponsored links on the right for the following 7 Key Market Research Questions: 1. Who is the company and principal of the company? 2. What products and services are they trying to sell? 3. At what price point are they offering these products and services? 4. Who are they targeting? What are the demographics of their target audience? 5. How are they delivering their product and service? 6. How are they positioning their product and service? 7. How are they promoting their product and service? Step 5: Create a one page document for each company that summarizes the key questions and then one final executive summary of all 10 sites comparatively. Use this information to create and position your own marketing strategy. Other Ideas • Ask your existing customers - Conduct a survey of your target market with Survey Monkey. • Invite a group out for lunch and have in informal focus group. • Contact a local MBA program and offer an internship to a grad student. • Join online forums that talk about your kind of business. • Set up a chat room where you conduct your own online focus groups. Take the time to do the market research upfront. Renegade entrepreneurs may find this task tedious, but I promise you, it won’t be as painful as regularly dusting the thousands of dollars of unshipped product you could have laying around your office! Instant Article Submitter. - Amazing Breakthrough Software Stuffs Any Website You Want Full Of Free Targeted Traffic. Email 2,900,000+ Recipients Daily! - 100% Spam Free Targeted Bulk Email Service! Instantly Increase Your Sales by 1900% Guaranteed! The overall cost per click (CPC) rose from an average of $1.29 in 2004 to $1.61 (a 24.8% increase) in 2005 on Google AdWords. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 |
Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Niche Marketing: The Affiliate Angle By Andre Anthony If you're just dipping your toes into the waters of Niche Marketing for the first time then Affiliate marketing is the ultimate low risk choice to get you started.Affiliate programmes cost nothing to join and present an almost infinite choice of products and services from which to build a niche business.If you're not familiar with Affiliate marketing, let me quickly explain.An Affiliate acts as an independent "middle man" between a Merchant and… 2. Nine Must-Do Positioning Steps By Henry DeVries Every professional or consultant knows that clients typically hire people they know, like and trust. But how do you build trust with strangers?As Ralph Waldo Emerson's 150-year-old essay titled "Compensation" teaches, first you must give if you want to receive. The best positioning strategy for professional service firms is to build trust by giving away valuable information. That's why professional service firm marketing works best when it demo… 3. Itchin' For Some Nichin' By Ken Nadreau The whole idea of Niche Marketing is exciting! The possibilities are endless, as there are literally millions of people surfing the web, the vast majorities of whom are here for two reasons . . .Namely, to learn something or to buy something!The trick, for a salesperson, is to find out what it is they're looking for and get it into their hands.Niche marketing narrows down the whole process of supply and demand. It enables you to pinpoint the pr… 4. Why Do You Need to be in the SERPS? By Scott Hendison Why does your business need to be in the Search Engine Results Pages (SERPS)?Search Engine Optimization and Search Engine Marketing both have the same goal, which is to help visitors find your website. Ten years ago there was probably nobody searching online for your product or service. Five years ago, there may have been a couple of dozen people looking for it in any given week or month. Today, in 2005, you can be sure that there are many p… |