What is Market Research?

What is the best way to start a market research in Stuttgart, Germany?

• I am thinking of implementing a new idea here in stuttgart. However i am a student and from a foreign country here. What is the best way to study the market and do a market research here before i start implementation, as I am a foreigner and have no much experience in Stuttgart's market. Thank you

• Answer:

  It depends what your idea is admittedly, but I'd be inclined to talk to people in Stuttgart yourself.. This will give you first hand experience of a) communicating your idea b) gauging people's reaction. If you do it yourself it will be cheap - costing just your time - and as a student I'll wager you could probably spend an hour a day talking to people about this. You could also go down a more formal market research route.  We regularly work in Germany (though not exclusively in Stuttgart - bit of a small market that).  I could put you in touch with some options for either online or telephone research but you'd be looking at around $5 an interview for consumer interviews, and I figure why spend money when you can learn for free.. Good luck - we need more people to start new businesses, so you're helping society!