Brown bag: Maintain your competitiveness through solid market research

Market research can help you create a business plan, launch a new product or service, optimize your existing products and services, beat out the competition, and expand into new markets, said David Slatter, president, ExperiPro, at a chamber brown bag session. He detailed examples of where to find low-cost data to answer your most important questions, including demographics and other business information on the Richardson Economic Development Partnership website.

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Imagine how much more effective your sales initiatives could be when you really know who your customers are, and why they buy from you (or not), and if you understood who you are competing against and what sets you apart from the pack.

He provided practical advice about how and when to use research, what types of research work best in given situations, and tips and tricks to avoid the most common pitfalls.