Collect statistical data
Posted: Wed Apr 23, 2025 4:38 am
There is a wide range of tools for forecasting and analytics in trade available in the public domain. Statistics of search queries (Yandex Wordstat, Google Trends) will tell you how many people are interested in a specific product (e.g. "children's thermal underwear" or "raincoat for a dog"). An analysis of the query will help you find out whether there is demand for the product, whether the seasonality principle works for a certain group of goods, the number of potential consumers and their region of residence.
This way, you will conduct primary marketing research and analyze student data demand on the network.
4. Study your competitors
Having an idea of what you want to do, study the existing market - who is already occupying the niche and which players can become your real competitor.
You can always learn something from your competitors in the future, and avoid making their obvious mistakes. There are often situations when a business has chosen a unique and promising niche, but has poorly resolved the issue of promotion and is left with nothing.
This way, you will conduct primary marketing research and analyze student data demand on the network.
4. Study your competitors
Having an idea of what you want to do, study the existing market - who is already occupying the niche and which players can become your real competitor.
You can always learn something from your competitors in the future, and avoid making their obvious mistakes. There are often situations when a business has chosen a unique and promising niche, but has poorly resolved the issue of promotion and is left with nothing.