Market research

Market research is a most valuable tool for all businesses. It's the process of gathering information to help you make informed decisions about the marketing of your business. Statistics and other market research data help you understand your potential customers and their needs, as well as what your competitors are doing.

Getting a good understanding of market trends is essential for you to make the most of your business opportunities. Look for information in market reports, government statistics, trade publications and industry association publications.

There are two types of market research:

• Primary research - Information collected for you through surveys, interviews, talking to customers and businesses.
• Secondary research - Information gathered for other purposes, such as government statistics, trade publications.

The Australian Bureau of Statistics is Australia's official statistical agency. It provides statistics on a wide range of economic and social matters. There are also a number of other government sources of statistical information.