Step 4. Market Research

Market research is the process of gathering information about your target market to determine the key to your business’s success amongst this crowd. It involves understanding the behavior of consumers, such as knowing where and how they are shopping, what factors influence their choices, and why they do or don’t buy your products and services. This data will allow you to best serve your specific audience.

Through market research you’ll also be able to learn about your industry, such as spotting top trends, examining the market size, and getting to know your competition. 

By the end of this research process, you’ll be able to draw conclusions about your market and get super clear on your business’s value. 

Click on the WIX source link below for more details.

Source: WIX