Is there a market for your product or service?

Published by:
Netherlands Chamber of Commerce, KVK
Netherlands Chamber of Commerce, KVK

Before you can sell your product or service, you need to know if there is a market for it. You do this by carrying out various surveys. Such as a market survey and a customer analysis. That way, you will find out whether it makes sense to market your product.

Market research

You are convinced that you have a good product or service, but are others as well? With market research, you can find out if there are potential customers for your company. You can also identify the competition. This will show you how you can stand out. Your market research forms the basis for your marketing.

Customer analysis: what does your sales market look like?

You will only know how to sell your product or service when you know who your customers are. Through customer analysis you identify your potential customers in as much detail as possible. For example, where your customers come from, what age they are, and how and where they spend their money. Read more about customer analysis.

Competitor research: what do you know about your competitors?

Usually, you are not the only one offering a particular service or product. Through competitor research you find out who your competitors are and what exactly they do. Who are your main competitors? What kind of product or service do they offer and at what price? Where are your competitors located? Read more about competitor research.

Marketing plan: how do you handle your marketing?

Market research is the basis for your marketing. You collect data on customers and competitors. You use this data to make a concrete plan of action: your marketing plan. In it, you work out the different parts of your marketing, such as product, price, and promotion. In other words: what product or service do you offer at what price and with what promotion? Read more about your marketing plan.

Differentiation: what makes you special?

Finally, you describe how you will stand out from your competitors. What makes your company different? What will you do better? Describe the distinctiveness of your product, price, promotion, and location. For example:

  • Your product is sustainable or sustainably produced.
  • Your shop stands out because of distinctive decoration or a special location.
  • You seek awareness through an eye-catching advertising stunt.
  • You have a particular way of working that makes your company stand out positively.
  • Your company offers great service.

Questions relating to this article?

Please contact the Netherlands Chamber of Commerce, KVK