A business will need to carry out market research before it develops, launches and markets a new product. Here is a review of questions which the business will have to consider:

• What are the gaps in the market?

• What are the gaps in the product range?

• What new technology is available?

• How big is the market?

• What should be the market segment?

• What is the competition doing?

• What price should the product be?

• How should we advertise?

• What should our message be?

• How should we sell it?

• What sales can we expect?

• What profit can we expect?