Business Foundationsbeginner
Market Research
Definition
Systematically collecting information about your target market. Their needs, behaviours, preferences, and the competitive landscape. Evidence for business decisions.
Why it matters
Most failed products failed because nobody wanted them. Market research, done properly before building, dramatically increases your odds of building something people will pay for.
Example
Before creating her course, a founder interviews 20 potential customers, runs a survey with 150 responses, analyses competitor reviews on Trustpilot, and joins 3 Facebook groups to observe real conversations.
Related terms
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