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A lot of clients ask me how do I research
the market. And one of the critical things is that you need to understand the
industry area where you going to be delivering your product or service.
So firstly you need to gather information from
industry sources, so associations, and potentially the website where you can get
statistical data and what is happening
in the industry. You also need to look at the regulations that are happening in the
marketplace as well around that industry.
So then you can make some decisions about how you are going to deliver your product
and who you're going to be competing against.
So gather information about the industry itself
and then start to consider your own products and services and how they fit
into that marketplace.
So once you've done all that gathering of information
sit down, look at the competitive marketplace, what they're offering
look at your own products and services and then decide how you're going to best
fit into that marketplace.