What strategies can startups use to conduct effective market research?
Effective market research is critical for understanding your target audience and refining your business model. Some strategies include:
Surveys and Questionnaires - Directly asking potential customers for their opinions and needs. Focus Groups - Gathering a group of potential customers to discuss their needs and preferences. Competitive Analysis - Studying your competitors to understand their strengths and weaknesses. SWOT Analysis - Identifying your business's strengths, weaknesses, opportunities, and threats. Using Data Analytics - Leveraging data to gain insights into customer behavior and market trends.