{"id":3085,"date":"2023-09-07T13:01:25","date_gmt":"2023-09-07T11:01:25","guid":{"rendered":"https:\/\/www.microlux.lu\/how-do-you-conduct-market-research\/"},"modified":"2023-09-15T11:13:33","modified_gmt":"2023-09-15T09:13:33","slug":"business-creation-steps-market-research","status":"publish","type":"post","link":"https:\/\/www.microlux.lu\/en\/business-creation-steps-market-research\/","title":{"rendered":"How to conduct a market research?"},"content":{"rendered":"<!--\r\n    Title: Single Post Content\r\n    PostTypes: post\r\n    SupportsJSX: true\r\n    Mode: preview\r\n-->\r\n\r\n<!--\r\n    Title: Intro\r\n-->\r\n\r\n<section class=\"gc-intro\">\r\n    <!--\r\n Title: Container\r\n Mode: preview\r\n SupportsJSX: true\r\n-->\r\n\r\n\r\n<div class=\"gc-container  gc-intro__container\">\r\n    <div class=\"gc-intro__wrapper\">\r\n            <div class=\"gc-breadcrumbs gc-intro__breadcrumbs\">\r\n    <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><span class=\"last\">Home<\/span><\/p><\/nav><\/div>\r\n            <h1 class=\"gc-intro__title\">\r\n                How to conduct a market research?\r\n            <\/h1>\r\n                                <\/div>\r\n<\/div>\r\n<\/section>\r\n<section class=\"gc-spc\">\r\n    <!--\r\n Title: Container\r\n Mode: preview\r\n SupportsJSX: true\r\n-->\r\n\r\n\r\n<div class=\"gc-container  gc-spc__container\">\r\n    <div class=\"gc-spc__content\">\r\n                        \n\n<h4 class=\"wp-block-heading\">Why conducting market research?<\/h4>\n\n\n\n<p>Market research will enable you to see if there&#8217;s enough demand for the products\/services you want to offer, and to better understand the environment you&#8217;re about to enter. To carry out this study, you&#8217;ll need to know who your customers are, analyse the competition and the place where you&#8217;re going to set up your shop.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Who are your customers?<\/h3>\n\n\n\n<p>A project is more likely to succeed if it&#8217;s built with future customers in mind! Knowing your customers allows you to better identify their needs and expectations, and then adapt to them. This knowledge involves studying a number of points.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Creating a typical customer profile:<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How old are they?<\/li>\n\n\n\n<li>Do you target women or men?<\/li>\n\n\n\n<li>Where do they live?<\/li>\n\n\n\n<li>What&#8217;s their budget?<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Analysis of their behavior:<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>When do they buy?<\/li>\n\n\n\n<li>How much do they spend?<\/li>\n\n\n\n<li>How often do they buy?<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Understanding their expectations :<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>What are their needs?<\/li>\n\n\n\n<li>What do they look for first in my products\/services? Low price? Product quality? Product origin?<\/li>\n<\/ul>\n\n\n\n<p><strong>The best way to find out this information is to conduct a survey using a questionnaire. A <a href=\"https:\/\/www.microlux.lu\/fr\/accompagnement-pour-entrepreneurs\/coaching-individuel\/\">microlux volunteer<\/a> can help you set it up and analyze the results.<\/strong><\/p>\n\n\r\n        <\/div>\r\n        <aside class=\"gc-spc__sidebar\">\r\n            <div class=\"gc-share\">\r\n    <h5 class=\"gc-share__title\">Share the article<\/h5>\r\n\r\n    <ul class=\"gc-share__list\">\r\n        <li class=\"gc-share__item\">\r\n            <a rel=\"nofollow\" class=\"gc-share__link gc-share__link--facebook\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/www.microlux.lu\/en\/business-creation-steps-market-research\/\" target=\"_blank\">\r\n                <svg class='gc-share__icon' xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\"><!--! 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It lets you see how much you&#039;ll need to get started\r\n                <\/div>\r\n            <\/div>\r\n\r\n            <div class=\"gc-post-item__bottom\">\r\n                <div class=\"gc-post-item__share\" x-data @click='livewire.emitTo(\"share-modal\", \"toggle\", \"https:\/\/www.microlux.lu\/en\/financial-forecast\/\", \"Share the article\")'>\r\n                    <svg class='gc-post-item__share-icon' xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><!--! 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Browse the questions below and answer them honestly. It&#039;ll help you see things more clearly!\r\n                <\/div>\r\n            <\/div>\r\n\r\n            <div class=\"gc-post-item__bottom\">\r\n                <div class=\"gc-post-item__share\" x-data @click='livewire.emitTo(\"share-modal\", \"toggle\", \"https:\/\/www.microlux.lu\/en\/business-creation-steps-starting-checklist\/\", \"Share the article\")'>\r\n                    <svg class='gc-post-item__share-icon' xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><!--! 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