Of course, the in-depth evaluation of entrepreneurial ideas will make entrepreneurs full of more expectations for success, and will also let entrepreneurs find some shortcomings of entrepreneurial ideas.
Now please ask entrepreneurs to answer the following questions:
1. What problems can my product or service solve?
2. Who will buy my products or services?
3. Why did they buy it?
4. What are the purchase methods-specialty stores, department stores, Internet and smart phones?
5. How should I charge a reasonable profit? Will consumers agree with this price and really buy it?
6. What kind of products or services will become my competitors?
No product or service of any company (especially small business) can satisfy all consumers. It is helpful for the development of enterprises to fully clarify the positioning and target market of enterprises. Therefore, it is very important to open up your own world in the market, which is also the key to the success of enterprises, even those big companies.
Wal-Mart and Tiffany are both retailers, but their target markets are completely different: Wal-Mart provides low-priced goods for mass consumers, while Tiffany provides jewelry and luxury goods for high-end consumers.
It is not enough to evaluate whether the entrepreneurial idea can succeed in the market and formulate an effective marketing plan. Entrepreneurs need to complete some formal market research.
In addition, entrepreneurs can consult the local SME development promotion center or the marketing professor of the local university, and they will provide professional guidance for entrepreneurs to help them understand what information Cye needs to collect.
Generally speaking, you need to collect three important information: industry information, target market and competitors.
Entrepreneurs can learn about industry development trends, statistical data, industry profiles and other information from statistical departments and industry associations. Once you have made clear the feasibility of your entrepreneurial idea, you can take the next step with confidence.
Source: Prospective Industry Research Institute.