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Successful Market Research Starts with Good Questions

Every market research session should begin with solid questions, such as:

  • marketIs there a customer base out there for this product or service?
  • Is the future stable for this product or service?
  • How does this product or service compare to the competition’s products and services?
  • How much are consumers willing to pay for this product or service?

These questions drive the research process, the answers lead to a successful solid business proposal. Or perhaps the answers lead to more research, adjustments to the business plan.

In any case, the smart entrepreneur starts with the right questions. Vanessa Van Edwards of Entrepreneur Magazine has written a great article on developing the right, rather than the wrong, questions. Enjoy the article here.

Dayton Metro Library offers several free resources that can help entrepreneurs pull together market research without investing a lot of money. These resources will be highlighted during Dayton Startup Week on Monday, June 12 from 1-3 p.m. Visit the Startup Week website for more information and registration.

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