Aid decision making
When to release the product
Help reach business aims
Make the right product
Advertisement
Social media?
Specific websites
Price
Willing to spend
willing to spend
Importance of Market Research
Understand the market
Quality
What other products are out there?
What the target audience buy
Shops selling similar products
best selling products
target audience
Reduce Risk
Protect investment
Over produce products
Future Investment
Compare with whats already available
How they advertise
Prices others are charging
USP (Unique Selling Point)
Thoughts about other products on the market
Product Development
Quantity needed
Quality needed
Cost of materials
Gain customer views
High or Low end products
Where to advertise
price
where to sell
materials to use
Design of the product