Some say that starting a business is a little like buying a car or a house – You need to do some research before taking the plunge to ensure your business can really take off!
Market Research for Start Ups
As a potential business owner, one of the first things you need to identify is the value of your product or service to potential customers. Why would someone buy your product or service? Other important questions are; Who are your potential customers and where are they? Who are the competition and what is your competitive advantage?
Vision One specialise in market research for startups and developing new products and services – business experts who can help you through the early days and starting up your business, but also with sustaining and growing your business. Contact us today for more information on our market research services and free advice.
- Writing a Business Plan
Every business plan should include market analysis. This is one of the first and most important reasons to do a business plan. And whether you’re just starting a new business or reviewing an existing business, you should renew your market analysis at least once a year.
- Identifying the Potential
We can help you to establish how your target customers will react to your new product or service. Online research is often the cheapest means to talking to potential customers – however, if your product is very localised (to a particular town or city) then face to face or telephone interviews are the better option.
Market research is a fundamental part of preparing to launch and maintain a healthy new business, and assessing the importance of external factors that drive the market, customer need and how people perceive your brand and service offering. Researching the market you’re intending to enter is essential to ensuring your business is sustainable and heading in the right direction.
Our qualitative research (e.g. Focus groups, depth interviews) and quantitative survey research services (e.g. Online research, telephone surveys etc) for business start ups and new product ideas, include: developing the product proposition, identifying the right locations, finding the optimum price, developing the right business and communication strategies.
For further information on Start-ups, go to Startups.co.uk or talk to one of our consultants who will be able to help and advise you with your business plan and research requirements.