First up, market surveys need to be conducted. Follow the sub-checklist and fill out the form fields below in order to ensure that you don't miss a step.
Know and understand the target market. Identified consumers by launching demographics survey (i.e. statistical data of a population (age, gender, average income, education, profession, family backgrounds, etc.). If your target markets are unmarried young female professionals or married male professionals with children, you should know and understand their preferences and characteristics particularly their buying habits.
Locate target markets based on geographic locations such as county/town, cities/states.
Launch market surveys on product, pricing, place of distribution, and promotion to identified target markets. It involves getting inputs or 'ideas' from prospective customers, including one-on-one. conversations, on-line talks, phone dialogues, etc.
Conduct collating process of raw data (from demographics and markets survey). Collating process include collecting, examining, comparing, verifying, integrating, arranging data to convert it into a organized presentation of comprehensive information.