You’re thinking about entering a new market. Another country, region, segment looks lucrative. But testing a market on your gut feel is expensive. Much better to do some research to find out if there is a market for your product before jumping in.
Mogul Marketing has been doing the advertising for our 2 businesses since 2002. Not only are they great to work with but they take the time to really understand your business and thoroughly research what needs to be done to promote it. They have created very effective campaigns that have helped make our business very successful. – Joyce Vandemark, Berkshire Products
- A European distributor has approached us. What is their reputation? Do they seem credible? What do they sell now? How would our product fit in? How much do they sell now? What is their commission structure? How much would they expect to sell, inventory? How much of our type of product is currently sold in Europe? How do they service their customers? What countries do they cover?
- What is the best way to reach this market segment? How do they learn about products like ours? Do they expect trade pricing? What sort of offer will entice them to buy?
- Do we need to change our web site for this market? How? Will it be a problem when translated? Are there any hidden meanings?
- Will our brand name, tag line work in this market?
- What have other rural communities done to increase broadband coverage? How can we lower prices?
From Janet Tanguay, about a Market Research class for the Albany-Colonie Chamber’s Entrepreneur’s Bootcamp: “The class loved the session last week. Thought it was excellent! They felt your advice was great and “way beyond helpful!” One participant said “Loved them! Practical and helpful feedback!”. Some of them praised themselves “We were all so awesome! Kudos to everyone.” Hee hee. “Marketing people were great.” Excellent class. Great feedback. So much fun. Great! “