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Market Research Worksheet

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Market Research

1. Who is your market?
How do you define them? (age, gender, income, etc)




2. What does your market want? What are they looking for?
This either is to satisfy basic needs, to solve a problem, or to give them satisfaction (make them feel good)




2. How fast is the market moving?
Is the market growing, is it steady, or is it dying? This is important to know for future growth of your business




3. Is the product or service in demand?




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4. What is the size of your market?
Can you compete?




4. How do they want it delivered?
What are their preferences in terms of when, where, and how to buy




5. Who are your competitors?




6. How does your unique selling proposition better serve them?
The more appealing this is the better edge you’ll have in any market




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7. How will you conduct your research?
Discussion forums, message boards, blogs, current magazines, “how to” websites, customer surveys, etc. The
objective is to meet the needs and desires of your prospects and customers. It doesn’t matter what you think they
want or need.... it’s giving them what they want and what they think they need.




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Description: Market Research is the process that you use to get answers to questions that solve problems in your niche or target market and a key factor to get an advantage over your competitors. The first thing you need to understand that people purchase products or services for three basic reasons: To satisfy basic needs. To solve problems. To make themselves feel good. You’ll need to determine which of those categories your product or service is the solution to, and be prepared to market it accordingly.