Step 1: Research your market

Find information about how to research the right market for your product.

On this page

• General research
• Industry research
• Product readiness

General research

Your first step is to understand the market and where your product fits best. You can do this by conducting market research and intelligence.

Market research and intelligence is when you gather information about your specific market through methods such as:

• Conducting customer surveys
• Reading industry reports

This research helps you:

• Understand your product’s unique selling position over competitors
• Identify and decide how and where you want to sell your products. For example:
  • Institutional food service channels: Healthcare organizations, post-secondary and K-12 schools
  • Commercial food service channels: Restaurants, hotels and transportation links such as BC Ferries or BC Rail
  • Retail food service channels: Local, regional and national retail stores

Industry research

Industry research helps you understand the best practices and industry standards of your product. You can conduct industry research by connecting with:

• Industry associations
• Other food companies
• Retail managers and distributors

Product readiness 

Each market channel has different requirements. In your research, make sure your product is ready to enter the right market by having these details figured out:

• Your price and costing model
• How much product you want to sell
• Information about the product's quality
• Certifications you need
• Labelling and packaging decisions
• Marketing costs for listing fees and promotion

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