Research strategy

Research for knowing revenue potential in that field, efforts needed...

[Bigdream]

Hi,

I want to start a research on particular field for developing/starting new business. But I am not getting where to start from.
I want to know the market share for my research, revenue that might be needed to spend on it, ROI that I will get, Time limit if applicable.
Please let me know how you all people start research on any new market.

Thanks for reading and spending your valuable time to give your insights.

Thanks.

[etechsupport]

You first need a business plan for starting a business and for getting research on any new market, you should gather information regarding the geographical knowledge of particular market, life style, buying behaviour, income, social and political atmosphere, business conditions, market segmentation, target customers and competitors move etc.

[Bigdream]

Hi etechsupport,

Thankz for the valuable info you have provided to me.
Lemme know if there is any other point or task dat shud be taken care off in specific.

Once again thankz for your info.

[etechsupport]

Arrange funding for your business, create your online presence thereafter look for most cost effective method for ad campaign targeting customers to your market segments.Do you need what to do thereafter..?

[Bigdream]

Thankz etechsupport.

U know what, I am planning like this:
Developin site.
Markting it online and their after offline.
...
But still how cud i look online abt the compeition or revenue potential which i will face, this is the same question as in my first post.
The thing is, i have heard people say that there is a huge potential in xyz market. We have estimated that these much revenue is needed for shooting up a firm, the profits will be somewhere around abc.
I m not getting how they do this?

Your help will be appreciated.

Thanks for you help.

[etechsupport]

I would suggest, start it from offline promotion targeting your local market first, once you get a start up and a base you should look for online promotion, I mean offline will make online better and vs versa later.

Don't go straight what people say that there is a huge potential in xyz market, mind it this is your business, it is the matter of revenues, investment and so on your expection for the return on investment.Always look with your own perception and angle by analyzing things and calculating risk as well.

I hope other members will also guide you in more significant way. However if you've further any doubt, feel free to PM me for free guideline.