Market Research

I sometimes read research reports, and think that I could have predicted the result, without conducting any market research. Which can be the point of market research. To confirm what we might already know.

Market research is an important part of any enterprise. When I first started to think about my business, I conducted market research. I asked people what sort of pictures they would buy, if they purchased prints. I asked what sort of photography services they might use, and how often.

Over time, I forgot about research. I felt I knew what customers would want. Which is why, in October 2018, I have boxes of unsold fridge magnets. They’re all 2018 calendars, and I thought they would sell well at winter fairs last year. Evidence proves otherwise. I also have some boxes of seasonal cards, which again I thought would be popular. A few sold, and at least as they didn’t have a date on them, so they remain valid this year.

During my current time of reassessment, I’ve returned to research. I’ve asked people what sort of items they might buy, and which of my pictures they would like to see on merchandise. Some clear favourites emerged, and I hope to market the new range during October. Just in time to catch some of the Christmas gift lists, such as the annual Cup of Toast recommendations.

I will also revisit my existing merchandise, and look into new avenues of promotion. The research isn’t finished. Next steps include looking for UK based suppliers of ethical goods, which could incorporate my pictures. And of course, waiting to assess results before making any bulk orders.

Going forward, I hope to extend the range of merchandise available, making use of some of my more creative photography work. I’d also like to continue using my studio box to bring fresh ideas to life. Stay with me for further updates!