If you’re an entrepreneur or working on developing a new product or service for your employer, you’re likely on the lookout for something new, or the next big thing. It’s something that can take many years to uncover – without the right tools.
But, by using market research and conducting your own purpose created survey, you can cut that time down a lot and get to work on the perfect niche market to suit your personal set of skills.
If you create a survey to discover a real consumer need that isn’t currently being met, questions you need to ask in your survey include:
- What do consumers think is missing from an existing product or service.
- Is an improvement or new product needed or would it just be ‘a nice-to-have’.
- Would they be willing to spend money on a product add-on or new item?
Once you have the answers to these – and other key questions – you’ll be better placed to make a decision on whether or not to push ahead with your new, niche ideas. Or, if you should go back to the drawing board.
Discover more about using surveys to discover market niches in this interesting post.