How to research your market

To start and run a successful business you need to be aware of your potential and existing customers and the market you operate in. Market research represents an important tool for all businesses (e.g. government statistics, trade publications and industry association). Statistics and other market research assists you making informed decisions about understanding of your market, your customers and their needs, as well as giving you a better insight into your competitors. This improved understanding of your market can help you better focus your marketing efforts, make informed decisions about your business and make the most of available opportunities.