Know Your Market

What can market research do for your business?

Market research will help you discover who wants to buy yourproduct or service (senior citizens, young people, men, women,fitness fanatics or golfers, for instance), how much they'rewilling to pay for it, the best ways to let customers know yourcompany exists and how your company will be viewed in themarketplace (as a luxury service or product, as a great bargain, asa necessity and so on).

Excerpted from Starting a Home-based Business

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