Market research is key to any business, big or small. Your market defines the boundaries of your potential sources of revenue. The more you know your market, the more you can craft your products and services to fit that market’s needs. As Shawn O’Connor writes for Forbes, “By doing your homework before starting your business, you can be assured that your product or service is properly priced and positioned and you are offering the most sought after attributes.”
How can you do that homework, especially if budgets are tight? Technology has had a big impact on how market research is conducted, for better and for worse. Here’s what you need to know. (more…)