Quantitative market research involves some type of data gathering or the development of some method of measuring and analysing marketing information. One of the best starting places for quantitative market research is the collection of demographic data. People sometimes get very nervous about the idea of doing market research. While it is true that market [...]
It’s a fundamental rule of marketing, you need to find a market need then promote your product to the target audience. Listening to market trends is one method to identify highly profitable markets. You may be familiar with the fact that product sourcing is essentially split into four main categories: 1. Sourcing products that you [...]
Before you can conduct market research, you need to understand how to position and promote your product. Everyone can and should do market research Some business owners start to hyperventilate when they hear the words ‘market research’. They think things like: ‘I don’t have a master’s degree in marketing; I have no idea how to [...]
Does the word marketing make you just a little nervous? Are you concerned that you may not know enough about this skill set that can make or break your business? Let’s start with the basics: figuring out what a market is and why you need one. Markets Technically, a market is a place where goods [...]
In order to price your product, you have to figure out who your market is and what price they are willing to pay for your crafts. This article discusses how to determine your price point. Pricing by Formula In many industries, clothing for example, pricing tends to conform to formulae. In the fashion industry, you [...]
A target market is the market segment to which a particular product is marketed. Target market is a key concept for your business. The more you know about your target market and how to position your product to sell to that market, the more successful your business will be. Target Segment Identification Target segments or [...]
Here we discuss traits of Gen Y leading up to how they buy. What kind of companies will they be drawn to? What will companies have to do to attract them? Finally, we show a glimpse of what their purchasing process might look like. Communicating with Youth of the Nation- Generation Y (1985 to 2010 [...]
