Market research is the most important part of any business to grow!
While reading about the elements necessary for success in any business set up for women, this was a clear message that proper market research can help you to achieve success. You will come to know about your potential customers and where to locate them. Networking, contacting potential customers via e-mails, direct mail questionnaires, telemarketing, can help you get the feedback for your business. In the library, there are many books which can provide you information regarding research related to your business, studies conducted by colleges, universities, search on the internet, can bring many types of research in front of you.
Point to be noted is that there is a big difference in marketing and advertising. Some books explain that marketing is to determine where and to whom you will sell your goods or services, while advertising is the method you will use to publicly acquaint your customers with your goods or services in order to get them buy what your business is offering.
Market research will help to gather that information which will guide you to plan your business goals, objectives, and marketing strategies. One should start with free or low-cost advertising methods like press releases, referrals, business cards, fliers, donations to charity events, and so on.
One of the very effective advertising methods which I found interesting is Newsletters. A promotional newsletter to your customer mailing list can keep your business in your customer’s mind, give them tips that how to use the product and alert them to upcoming sales.
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