Market research is a very important step for all startups as, amongst other things, it helps you understand whether your offering is likely to generate demand. Once you have a clear sense of who your customers are, the following represent some additional things to think about:
- Where are these customers?
- How many customers are there?
- What do they require from your product or service?
- How you intend to reach them?
In looking to answer these questions focus on these overall understanding you are trying to develop with relation to your clientele and market:
- Understand where your customers are. If you are planning on opening a coffee shop in Dublin, it is important to recognize that the primary market you’ll serve will largely be a function of the footfall in that area. Giv