Research is the first step of any business plan

[EMMANUEL]

Marketing research is the process by which information about marketing conditions is gathered, organized, evaluated and used. Companies can either conduct their own marketing research, or they can hire someone to do it for them, and it always starts in the same way: defining the problem.

 

[Saba54]

You can help your research by talking to business owners who are running the same kind of business as you. They will tell you mistakes to avoid, best selling strategies and the best audiences to target. It's good to seek information from them because they have better experience than you and their advice will help you in the long run.

Yes yes you are absolutely right that planing is very important before investing in a business either it is on large scale ir small scale. But planning and research as a observer is very important because it gives insight about the fluctuating prices and product demand in a market.

 

[Thosynho]

There are many businesses that are introduced into the market on a constant basis and each one of them is in that meeting specifically need or want that has been identified within a community or region. However, in order to be able to identify and his needs and wants one needs to be able to do research within their community. This research will involve finding out from people how they are likely to be exposed to marketing for their product and in this way they can maximize their marketing strategies. Also, it is important when it comes to deciding what product is going to be sold. Through the interaction with people of the community you are able to gather a lot of information about what they need, and you can place your business model on this.

There are many that feel research is something that only happens by your online methods. However, this sort of research requires interaction which can be achieved through possible surveys that you can conduct.

Apart from surveys what other methods do you think that businesses can use to obtain information about their upcoming business plans?

Yeah, I love this post. It's informative enough. After getter a business idea the next thing is to embark on research as to knowing how to go about it, where the business will thrive, cost starting it, identifying your target audience and so on.

 

[Abibatabosede]

I can't agree less with you on this. Every business requires reaserch for many reasons. He needs to find out where his distribution should concentrate on, the kind of challenges he is likely to face in the competitive market......

 

[Goodday]

For every business you do, you need a business plan to run it and run it successfully. It is natural for your to make research into the market you're delving into, know your competitors, do a survey and put the necessary things to make your business successful in place.

Yes, that is actually and just like you said, without the business plan, your business just don't have any chance of Succeeding, maybe it might succeed by luck which isn't the view of any entrepreneur at all. Business plan is actually the engine of any business of any nature.

 

[Kinglegend01]

Yeah I totally agree that research is the first step to start any business forinstance if you want to set up a factory the first thing you have to do is to find out which location would be right for for establishing the factory and to gather facts and information about the business both from the manufacturer end and the consumer end.

 

[Tiwa]

Research is one of the initial strategy to go about to ensure one does not fail in a new start up .As far as I'm concerned, I think survey is still a key indicator in knowing how the market will perform.It gives an idea into the feasibility of the proposed project.

 

[Alexandoy]

I agree that research is the first step. Once you have an idea of a business and you are intent in pursuing that line then you need to spend time with the research. First is the market base. If there is no market then there is no business. Next is the supplier. Where would you get the merchandise that you will sell or the raw materials that you will need. You also have to research on the proper procedures and required methods on the operation so that you will be armed with complete knowledge on the business.

 

[kayode10]

Doing market research is very important when you want to start a business. This will help you to avoid unnecessary competition and create a unique selling proposition for your business. Research is an ongoing thing when it comes to business building. That is why you will see some businesses that have a dedicated department for research and development.

 

[Godleads1]

Research making is the solid foundation an individual needs before investing in the business. If a suitable research is carried out on a certain good, it helps to know the future of the business. The research would help you to have a glimpse of what to expect from the business.

 

[Bart Simpson]

Research is very important before starting a business. This means that there is a research department in all organisation that will make research about fact that concern the business.We should make research on location we want to establish the business, we should make research on the suitable amount to start a business so that we will know the budget.

 

[Kiwi]

Research is very important before starting a business. Research is always the first time into commencing a project. Before a business is being started, a lot or research must be done about the resources needed for the business; how much they cost, where quality ones can be gotten. Many businesses has failed because they lack adequate knowledge of the business, they only started the business because of zeal.

 

[BrolySSJ]

I totally agree with you on this. Many people fail to carry out proper research about their intended business. They venture into it without background knowledge that would be needed for the business to grow. Researching helps a business man make good business proposal, budget and growth subsequently. It exposes the loophole of the business and makes one prepare in order to advert those challenges.

Exposing the loophole of your business it's a very good way in which to utilise your research. I think that many people believe that research is only the first step, and after you conduct in the beginning you would then not need to do it throughout the course of your business. However now that you mention it, research is also a continuous thing that happens throughout a business plan in order to further your business and to make it better in terms of information that you may receive after it has already been implemented.

 

[Azam786]

There are many businesses that are introduced into the market on a constant basis and each one of them is in that meeting specifically need or want that has been identified within a community or region. However, in order to be able to identify and his needs and wants one needs to be able to do research within their community. This research will involve finding out from people how they are likely to be exposed to marketing for their product and in this way they can maximize their marketing strategies. Also, it is important when it comes to deciding what product is going to be sold. Through the interaction with people of the community you are able to gather a lot of information about what they need, and you can place your business model on this.

There are many that feel research is something that only happens by your online methods. However, this sort of research requires interaction which can be achieved through possible surveys that you can conduct.

Apart from surveys what other methods do you think that businesses can use to obtain information about their upcoming business plans?

Research is very important to start a business. It is like a red bone in the human body. If you start any business without knowing it, it can happen. You may be at a loss, you may be at a profit It's a good idea to get good information about this before you even start a business.That my goods will be sold, what is its price in the market? As a bonus, how much better my stuff is than anything else in the market and how cheap it is Start a business and get it well advertised

 

[Dubai]

Exposing the loophole of your business it's a very good way in which to utilise your research. I think that many people believe that research is only the first step, and after you conduct in the beginning you would then not need to do it throughout the course of your business. However now that you mention it, research is also a continuous thing that happens throughout a business plan in order to further your business and to make it better in terms of information that you may receive after it has already been implemented.

Exactly, this is why many multinationals keep growing and expanding their horizon. After they started their enterprise, they did not stop in making research. In fact, some of the cooperate responsibility of many big companies is to sponsor research in institutions, most of the sponsored research are related to what they are into as a company. The likes of Shell, General Electric, Halliburton etc. do these in many countries.

 

[Presido]

Yes, you're right, before starting a business, your first plan should be on how to make research and know more about the business, the best location that suits the business and the market's demands

 

[BrolySSJ]

Research is very important to start a business. It is like a red bone in the human body. If you start any business without knowing it, it can happen. You may be at a loss, you may be at a profit It's a good idea to get good information about this before you even start a business.That my goods will be sold, what is its price in the market? As a bonus, how much better my stuff is than anything else in the market and how cheap it is Start a business and get it well advertised

Knowing the difference between what you are selling and what is already in the market is very important and this is accomplished through research. It is these differences that is the encouraging point for people to switch over from who they are currently purchasing those products from to you and your business. Without offering any difference from the product that you are creating people will not have that motivation to take that risk on your business. Therefore, research is very important to find these differences as you have said.

 

[Xerryl]

You can help your research by talking to business owners who are running the same kind of business as you. They will tell you mistakes to avoid, best selling strategies and the best audiences to target. It's good to seek information from them because they have better experience than you and their advice will help you in the long run.

 

[joy101]

Research before starting a business is very important in a business, so to know more about the business that you want to start, and also know the things needed and also to know what to start with, is very good to know the business that you want start before starting it.

 

[Usman Sattar]

In the process of business research one has to learn to make every effort about the company's customers, competitors and industry. The main objectives of this process are to determine which products or services will be offered, which consumers will buy them, where to sell them and how they can be valued and developed. Various steps in the business research process help the company achieve these goals.