Focusing on your objectives, customer base and competition will help you define your promotional efforts. This also means developing a product that people like.
The first thing you need to do is figure out what you are getting into and what environment you are working in. This is a crucial step for the entrepreneur looking to set up a new company, launch a new product or simply clarify their position on the market.
Market research helps you set targets and the corresponding budget, analyze your competition and focus on the characteristics of your customer base (current and future). This will help you develop a product that meets a genuine need.