hello everyone welcome Episode-5 this one is going to be a fun one because
I gotta just speak what I have on my mind and it will be an easy one it is episode five today's topic is market research!!
yes, we are talking about that market research but today we're going to have three key questions.
if you prefer podcasts I have an Episode about it!
First
what is your business about we're going to use an example of my business, yes my business is about traditional food we are located in Indonesia our my target like for the business is Indonesia specifically in Jakarta and I sell traditional food that's one of my business about so what is your business about as I already know mine you need to ask yourself that and if you already know that answer great put it on a paper or if you are using notion put it there or take a no or something I don't know.
Second
who are those people, who are those people that are going to be buying your product my people are going to be people that like or cook food with oil or beans or use beans and it is pretty hard kind of pretty hard to actually move them from a company anyways so
my people are those people those that are going to be making food salad beans any sort of that so there are like people that are in the kitchen but also okay let me show you the problem here the oil you can use it for a massage you can use it for different things so I'm targeting one pacific person here and another here but let me tell you something those people are living around Indonesia that's where I located my business in so those are my people so the question goes to you now who are those people that you are targeting you need to put this as specific as you can because my people are like from the people that kind of actually cook like 18 to 25 or 45 out like I want an older audience.
Third
what is the market value? It kind of sounds weird because it's like the market we already know who are we marketing our things too but the value does the place that you want to sell the people to is there a value that you can actually get something or like give them like is it saturated is it too low so you need to answer those questions and mine is kind of okay there's not a lot of people that actually sell the products that.
I sell or most likely if they do it is higher price but I think that's going to be another video because it is like a competitor who's your competitor and those kinds of things and I think that can have its own video and it will take like one hour just knowing our target market not target market our target what was it called like our competitors yes our competitors that's what.
I meant and we'll be having more questions and our fourth question is where their platform is as I'm targeting an older audience you can say that most of them are going to be on Facebook but there's a problem because they don't spend as much time on Facebook yeah can you believe that so they have like their own family on their own thing so that's going to be like who are those people that you're going to be targeting and you need to see who are they uh like another example is my drop-shipping business.
I saw like journal right and now my people are like from 16 to 25 like gen z's and you know it is easy to find them they are on Instagram on TikTok there are yeah on youtube and you can totally target them and most of them are on Facebook I don't know I sound old when I say Facebook but yeah that is today's episode market research.
Thank You
for Reading, I'm trying to make this thing more fun as it's been kind of challenging just to sit down make the thumbnail, and then record recorded it's been the fifth episode and we gotta go that for an entire year that's my goal okay it doesn't mean that I'm going to stop it just mean after a year I can chill okay yes and thank you for reading specifically because you are reading to the end and most people don't read to the end and I appreciate you see you next Friday.
Learn With Me - Maryam Fuad