Business & market research

Collect information

Consider collecting information from businesses, government bodies, trade publications, customers, industry associations and market reports. This information can assist you in revising your business and marketing plans, provide information on the activities of your competitors and help you identify new areas to grow.

Review your marketing strategy as part of your marketing plan

Once you have a clearer understanding of market trends you are then able to implement practices to help your business grow. Ensure that your revised marketing strategy reflects your research and implements the associated results. Your marketing strategy needs to be clearly documented in your marketing plan. Read how to write a marketing plan for more information on getting started.

Benchmark against other businesses

Benchmarking is the process of speaking to businesses in your industry and learning different or improved ways to run your business. Establishing a network with these businesses will also ensure you regularly share skills and keep up-to-date on industry and local information.