The Times
For start-ups, doing your homework on customers is key
Joanna Jensen, founder of Childs Farm, discusses the value of market research in the first of five lessons from her book Making Business Child’s Play
Good market research tells you three things:
Category size: the overall value of the market your product will sit in (for example, hair care).
Shopping behaviours: how consumers typically buy (do they usually purchase shampoo and conditioner together?)
Competition: the strength and scale of the brand leaders you’ll be up against.
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