Market Research: Where To Start

Market research will give you valuable insight into your target market and potential customers, allowing you to evaluate the market need, market size and competition. When starting the market research section of your business plan, you can request valuable market information from Canada Business Network and from the Economic Development unit with the City of St. John's. In addition to this secondary data, entrepreneurs should also gather quantitative data through methods such as customer surveys, and qualitatively data through focus groups and in-depth interviews.