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Small Budget Market Research


It is necessary to be aware of what potential competitors are doing at present, opening a business that simply replicates another good or service would be unwise in a small marketplace.  A business directory (e.g., Yellow Pages) can be used to identify what competitors are offering and where.  By marking competitors on a map it may become obvious that one area is under served by a particular good or service, this is called market mapping.


Market mapping can also be used in a non-geographical manner.  This will provide an analytical tool that can lead to a gap being identified in the market. 



E-mail Steve Margetts