Discover, Discover new Markets!

How can small business gain knowledge and market information through right market segments?

Answer to this question lies with your data. Data along with required parameters can form the bedrock of your research in customer markets. The following two steps can work to define and understand on your target markets.

Step I

Gain input from quantitative research to assimilate good knowledge of your markets and customers. Research data can be resourced from the following points

• Trade shows, conferences and business publications
• Government research reports or key Industry or biz reports

Step – II

Gather input form the market space.

• Track competitors marketing efforts (online & offline) and emulate them
• Discuss with trade association or groups about your products/services
• Research your target customers (e-surveys, polls, questionnaires)

Aim of this exercise is to divide the markets into niche segments. Such segmentation will allow you to create targeted marketing campaigns to specific markets and in the process, discover new markets.

Happy Thanksgiving,

Clive