I’m starting to put together an outline for building my business plan, and I am looking for advice on market research. Basically, where to find it and if it doesn’t exist, then how to best go about conducting it. I understand there are many research companies creating industry reports that are a great resource, but those are very expensive at $500-$2000 a report. I’d appreciate any suggestions. Thank you.
When you are a startup company, you can hardly spend money on market research reports. In my experience, no matter which domain your startup is in, you can always find free and relevant research on the Web. Google is your primary source. You may want to try associations or even companies that publish free research. eMarketer, Frost and Sullivan, and Gartner press releases are all good sources. AdMob and MobClix publish a lot of stats about smart phones. Internet associations and mobile associations in various countries collect and publish a lot of stats about their industry. For example, if you want stats about the mobile industry or Internet in India, go check out IAMAI on the web. Of course, if you want very specific things like the “Global Market and Trends in Formaldehyde,” you may need to spring for a market research report!