How is a Market defined?

• Customers who buy similar products
• Customers who have similar sales cycles
• Customers who expect similar value

What does Market Research include?

• Characteristics of the market (including sub markets)
• Current state of the market
• Size of the market
• Projections for the future

Why is there a need for Market Research?

• Is there a market for the product / solution
• Is the market big enough
• What segments of the market will be attractive to pursue, and why
• According to Rachleff’s Law of Startup Success: “The #1 company-killer is lack of market. When a great team meets a lousy market, market wins. When a lousy team meets a great market, market wins. When a great team meets a great market, something special happens.”

What tools to use to perform Market Research?

• Google Trends
• Google Ads
• Gartner
• Forrester
• CBinsights