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The entertainment & event management directory

Master Class

A Look at Market Research

With market research you will be gathering valuable information that will help you to identify and deal with various market challenges. This in turn helps you to adapt your offering to make it more attractive to buyers and the more the buyers like it, the better you will do.

Market research is an important step towards understanding your potential customers or clients and identifying what motivates them.  With good market research you will be able to find out what it is that people are looking for in a service or product like yours. You will also get a grasp of what they are willing to pay which makes it easier for you to work out how much you should charge. .

The following video is from gov.uk and runs through the rudiments of market research. Although aimed at getting products to market rather than entertainment services, the principles remain the same for everyone. As I mentioned in an earlier article, even though you may be a singer, dancer or comedian, you need to think of yourself and your act as the product that you are selling.

This video is from https://www.gov.uk under the Open Government Licence