There are more than 24 million businesses in the United States alone, meaning that no matter what industry you do business in, there's likely a lot of competition. What's a company like yours to do in order to stand out?
The most effective ways to learn more about your customers, industry, and competition is to do thorough market research – diligent research to help you develop pricing strategies, understand your target market, and strengthen a business.
In this kit, we'll equip you with the necessary templates to conduct market research at every turn – from competitive analysis to understanding your prospective buyers. Whether you're an emerging business or an existing one, this kit is for you.
Market research analysis is the process of collecting and examining the data to decide whether there is a viable business opportunity with a certain product or service. To get started on market research analysis, download HubSpot's Free Market Research Kit.
A market research report often includes a SWOT (Strength, Weakness, Opportunity, Threats) analysis and Porter's Five Forces Industry Analysis. By using HubSpot's Five Forces Industry Analysis Template you can describe your buyers, suppliers, competitors, future competitors, and industry substitutes in your market research report. The SWOT analysis highlights how your business can compete in the market.
Just sharing some free knowledge that we hope you’ll find useful. Keep us in mind next time you have marketing questions!
Market research should at a minimum address several factors: