Local Market Research

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by a searcher
in Michigan, USA

1yr ago

Local Market Research

I am looking at an opportunity and wanted to learn about best practices regarding local market research.

Whats the best way to determine:
Who are the local/remote competitors
How the current pricing lines up with market pricing
Is there pricing power or is a more commoditized market.

Thank you!

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reply by a searcher 1yr ago
from Concordia University in Milwaukee, WI, USA

Local organizations are a good way to understand the market. Additionally, try to be a customer in the market and this is a great way to learn about the service offerings.

reply by a professional 1yr ago
from Duke University in New York, NY, USA

Google Maps scraper here to get you a list of local competitors: redacted (self-plug)

For pricing, mystery/secret shopping works well (as others have mentioned)