Can someone please help me with this? I need a comment on those two post please help

1Market research is a very important task to complete when creating a business and understanding the area that you want to serve. Its important to have an understanding of what service/product that you want to sell before you start looking at the market research. By doing that, you allow yourself the freedom to really find the best market to work in and not be narrowed down to a specific thing based upon the market. This research also allows you to gain valuable insights into the market to help tailor what your company does and who it aims to serve. It allows you to gain valuable insights into demographic information like gender, age, family size, household income, employment status, and more. With this information you can make sure that you can center what you plan to do around this market or find a different one that would be more suitable. Along with the consumer market information, I think that it is also valuable to collect market data on other similar businesses within the area you are researching. This helps you get a better understanding of what competition there is and who they are targeting for their market. If there was one piece of advice that could help someone in finding market research, it would be to use the data that is already available to you. For almost any area, there is great insights posted about demographics, competition, and other business related information that can help someone gain a better understanding into if a market is right for them.

2What advice do I have for somebody attempting to conduct market research? First you want to do a lot of different research regarding the business you are working on. Youll also want to know competitors in the area around you. This part is very important I think because for example say you are looking to open a gym. You are going to want to offer things that the other places do not have. You want to bring something to the table that stands out from your competitors. Next you will also want to do research on who is in the area like what kind of people & the popular age range too. Depending on the demographic you are looking for you will want to know how to targe that market the best & what will stand out to them the most. You will also want to know the average amount people are willing & usually spend on the service that youre offering. Again, if its a gym you are opening how much are people willing to spend per month? What kind of limitations do people avoid? Are you offering training services & how much people would be willing & usually spend on those services as well? Overall, I think the most important thing is too do lots of research. You will want to know your competitors & who you are marketing to as well. By doing the research youll learn where others are located & where the best location for your spot will be.