The market research allows to define if the creation and launch of a company is interesting or not. This preliminary study will then be used to draw up a provisional budget and thus know with some precision how much to raise for the launch of this business and how much to borrow from financial institutions. What are the main lines of a market study?
Identify the needs of the targets
For any business creation project, the entrepreneur will always have to choose a catchment area. If it is a business, this zone corresponds to the location of the structure to be created and also to the set of targets with whom the company will interact. For a company, the targets may not be those in its catchment area but rather those in a specific field: medical centres if the company supplies medical products and accessories, motorists if it is a company that supplies car parts, etc. Identifying the targets is the first step in the market study. The entrepreneur will have to define his customers and thereby try to find out what their expectations and needs are.
Know the competitors and their strategies
A company always evolves in a well-defined field of knowledge or action. This can be the supply of educational materials, information technology, health… It is quite possible that competing companies are already operating in the chosen field of investigation and that they have almost the same targets as the company in the creation phase. The market study will then focus on the analysis of the strategies adopted by competitors to better attract the targets. Above all, the entrepreneur will have to see which competing companies have powerful strategies and succeed in convincing as many customers as possible.
The economic positioning of the company
Once all of this is done, the entrepreneur will be able to better define what his economic positioning is, always within the framework of his market research. The notion of positioning refers here to how the entrepreneur will present his products and services to attract the attention of targets. It is a matter of being original. The entrepreneur must be able to offer innovative services in order to make a name for himself and thereby convince the targets of the seriousness and reliability of the company to be created. The company will have to challenge the competition and attract a maximum number of customers as soon as it is launched. In this way, the company acquires notoriety in record time and will thus be able to develop efficiently.