How to conduct market research

[instockdiecast]

I am looking at getting funding for my business and rewriting my business plan. How does one conduct market research that is not ebay market research?

[rogercbryan]

I don't mean to sound like an ass but... you research your market. Your question is kind of generic. What have you done so far? Have you made a list of your competitors yet? Have you done a demographic analysis of your targeted area?

Have you googled 'market research' to get an understanding of what you are supposed to be doing?

[instockdiecast]

demographic analysis of your targeted area

I know all of the competitors already "even some who do not have a website"

According to ebay more than 80% of the time it sells but it does not tell me how big the market is.

I know competitors pricing

I googled how to do market research and it says to conduct surveys. Well since I will be starting out from online and hopefully expanding to a local area I do know that it is a big market but dont know how many thousands of people. I also know that these are collectors and hang out on forums and I have tried to do polls and they just get locked.

I have not used ebay in a long time so I may be mistaken however isnt feedback gathered only once however when you click the feed back a buyer could have purchased 10 times?

Example.... user id Feedback Score 34,500 then you click 34,500 and it is even more correct, 34,500 is the different users who have purchased from the seller? Well the biggest seller has 34k + feedback in 2 years.

When I open a storefront it will be in a downtown area as this is where most of the collectors around here tend to live. "Rent is cheaper as well!"

Any help?

[matt_15]

I think your going to have a small shop which wont make you any money. There is no way of you making tens of millions of dollars out of it, so you should look at other opportunitys.

[rogercbryan]

I think your going to have a small shop which wont make you any money. There is no way of you making tens of millions of dollars out of it, so you should look at other opportunitys.

What? I still don't even know what this person is selling... how can you tell them to look for other opportunities with such vague info?

[rogercbryan]

You seem to be a little too focused on ebay. What are you going to be selling? Have you found suppliers? Have you done a cost analysis? If the only thing you see when you Google market research is that you need to do surveys then maybe you should look at more the one site. I just Googled 'market research' and in 30 seconds I saw 10 different things you can do.

Do some homework please...

[AOCenteno]

I advise stepping away from the computer and finding a solid textbook on market research. Search on Amazon (so don't step away from the computer just yet!) and find a Market Research Text Book with at least 4+ stars and 10 reviews and published in the last 5 years. Buy this along with a more trendy book on market research....and then read....take notes....read.....and then ask very pointed questions.

Good luck!

[instockdiecast]

There is no way of you making tens of millions of dollars out of it, so you should look at other opportunitys.

You got it all wrong. Not all businesses are in it to get rich! Some people simply want to work for them selfs and make a comfortable living doing something they love and are passionate about.

I will be selling Diecast 1/64, 1/24, 1/18 and supplies. Just on one community there is over 400k collectors just for one brand! If I market right and effectivly I can have a large customer base.

You seem to be a little too focused on ebay.

Actually im not focused on ebay at all. I will not be using ebay as my main profit source either.

What are you going to be selling? Have you found suppliers?

I will be selling diecast and currently have around 5 suppliers set up.

[akula]

How does one conduct market research that is not ebay market research?

there's only one kind of research that's worth anything
it's termed as primary market research
this means calling up your prospects and asking "do you wanna buy my stuff"
that's why it's called primary, as opposed to secondary, research