Business Service
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Market research is about finding out answers to questions that specifically deal with whether or not there is a local/national market for your product/service: be that about price, quality, quantity etc.
Competitors may not be able to match the knowledge you have gathered – say improved product features – so in the short-term it could give you enough of an early and powerful advantage to grab, or consolidate, a share of the market
The idea is not to find out if ’someone’ will buy your product, but that in your target area there is a sustainable need for what you have to offer.
Further, market research can give you new, up to date and powerful information that could, say, highlight clear signs as to how to break into a market or take a market to higher levels.
