Market research news
NYTimes: Know Your Market Before You Leap
If you're starting a business or launching a new product, New York Times reporter Paul B. Brown has a few tips on what to consider before making the leap.
'Who are your five nearest direct competitors?
'Who are the indirect competitors?
'Is their business growing, steady or declining?
'What are their strengths and weaknesses?
'How does their product or service differ from yours?
"What can you learn from their operations or from their advertising'?
Brown also discusses how professional market researchers being the process of answering these questions.
What do you think of Brown's tips? Any to add?