What is market research?
Its pretty much what the name implies. Youre researching the market, which is comprised of online shoppers and retailers. And Research just means gathering information about the Market, thats directly related to the product youre thinking about selling. The information you gather will show you whether or not you can compete with other sellers of that product on the Internet. It will help you understand what kind of demand there is for that product, as well as its advertising and marketing potential. Since your market is online, the majority of your research is performed online as well. With market research, your ultimate goal is to find out whether or not Product X is a good idea to sell, or whether its a product you want to avoid. Most people realize they need to research, but they dont know HOW to research. Before you can start, you have to understand the basic elements involved: Keywords, Demand and Competition. Keywords: Lets use eBay as an example for a moment; imagine what a mess
