What is the purpose of Market Research?
Market research will give you a clear picture of your projected workload and expenditures, your competition, and “what you’re up against” in general. It will also help you to choose and solidify a specialized niche for your business – preferrably one with little competition. However, even with competition (which can, in some cases, be an indirect advantage), it will clearly show you what steps are necessary to take in order to have an “edge” over your competitors. It also provides a solid foundation from which to construct a high-impact marketing campaign that will maximize your company’s profits.
