Do Your Market Research Before Launching MLM or Party Plan

We see it over and over again. Entrepreneurs come up with a great new product idea, they spend hundreds of thousands of dollars setting up and launching a MLM of Party Plan company – but, they never bother to do any market research up front to see what their target market thinks of their product.

Probably the most classic case ever was Purina – who years ago made this mistake with a new dog food. Spent tons of money introducing it – but – guess what? Dogs hated it. They had never done a taste test!

Before you charge too far, hire a marketing firm to do some focus groups for you. You can get feedback on your product, the services you intend to offer, your pricing, your compensation methods, even “little” things like your name and logo.

A little money invested up front will help you fine tune things – or maybe even reinvent things – and will greatly increase your likelihood of success!!

Contact us for more information on how we can assist!

Show Comments
Click on a tab to select how you'd like to leave your comment

Leave a Reply

Your email address will not be published. Required fields are marked *