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Tag: market research

Starting Your Own Home Business? Here’s 5 Things to Know

Starting Your Own Home Business? Here’s 5 Things to Know

Business
You've watched as your friends did it. You gave them advice and inspiration. When you saw how that worked out, you secretly drew up a list of your talents and skills. You know your budget, and you have a kitchen table on which to work. You're all set to bring your secret to life. However, those beginning their own home business need to know a few things. If the legalities aren't handled, then your home business won't even get off the ground. Here are five things you need to know to get your business off the ground. Hire A Lawyer And Accountant Other than permits and licenses, there are aspects of business that must be handled legally. You have a name for your home business, but it must be cleared, meaning no one else is using it. It must be registered. You'll decide a le...
The role of concept testing in new product development

The role of concept testing in new product development

Business
Starting work on new products is always an exciting time for any company. It can also be extremely daunting, as you are going through a process that you hope will make the company/brand stronger in the long run, but if a poor decision is made, then the consequences can be dire. In this article, we will look at how concept testing can help stop these mistakes from occurring, and show why it is such a vital part of new product development. Concept testing, simply put, is asking members of the public for feedback on a new product/service before it enters the market. This type of testing is strictly based on the product/service that is entering the market. In other words, it shouldn’t focus on aspects such as the brand of the product, or the advertising campaign of the product. This is