Learning Center

Market Research

Jan Knight on primary and secondary market research

Introduction

Market research helps you to gather, record, and analyze information designed to help you make better-informed decisions. For example, market research can reveal: key industry information (players, segmentation, statistics, trends); competitor information (service and products, sales methods, marketing, distribution); and new market trends and opportunities. Market research also plays a vital role in the development of your business plan, marketing and sales plans, product development, and funding strategy. Market research is not a one-time-project required for a business plan. Instead, consider it an ongoing journey. It sets the course for your new venture but will also provide guidance and direction as your venture develops.

This video session introduces the concepts of primary versus secondary market research; provides an in-depth look at various market research strategies and resources, and includes a few tips and ideas for follow-up.

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