It will be important to make the necessary research on other companies in the sector that offer the same service as you, in order to make the best use of your investment and to protect yourself from bad surprises. Competitive analysis will also contribute to making your services unique by differentiating them from other competitive elements.

Within the scope of market research, you need to find answers to many questions. First, you should research whether there are requests for your product or service. Considering the market size, you should include the demographics of your target audience and income ranges in the report you prepare. A comprehensive market research is an important procedure that should be applied both during the establishment and development of your company. You should not forget that skipping this step can bring huge losses in terms of both financial and time.