Market research can give you insight into your market, your competitors, your products, your marketing and your customers. Here are 20 questions market research can help you answer
- Who is currently buying your product or service?
- What are these people's lives actually like?
- Why are other people not buying it?
- Who would be interested in buying it in the future?
- How many people like this are there?
- What general trends are affecting these people's lives at the moment?
- Where would people buy your product or service from?
- When, where and how would they use or consume it?
- Why would they buy it? What need are they wanting to satisfy?
- Who is your real competition?
- What image do people have of your brand vs your competitors'?
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- What would be the ideal image for your brand to have?
- What do they think about the different aspects of your product or service (name, packaging, features, advertising, pricing...)?
- What improvements could be made to your product or service to meet people's needs even better?
- What is the single most important benefit your brand should be seen to be offering - and why would people believe this to be true?
- How can you best communicate that benefit to the people you're interested in attracting?
- What is the right price to charge?
- What other new products or services could your brand offer people?
- So what is your vision for your brand?
- And what would be the best roadmap for getting there?
Written by Richard Brown of Closer To Brands.