To get the whole picture of who your customers are and what their buying habits are, you need to do some market research. There are two kinds:
? Primary research is information you gather yourself. It is a collection of data and information from customers, competitors, employees, and suppliers. It may include conducting surveys, talking to potential customers and suppliers, observing other businesses, and test-marketing sample products or services.
? Secondary research is information that is compiled by someone else and is available through a variety of resources. It is information from industry studies, books, journals, and other published resources. Secondary research can easily be found at your chamber of commerce office, in trade magazines and journals, in annual reports of your competition and related business practices, through information contacts and networks in related industries, and through the Internet. In identifying your target market, you can research demographics, scientific data, public polls, patent and trademark data, and legal information.
