Things to know about quality market research and how you can do it effectively.
What to Know About Market Research: A Complete Guide for Nigerian Entrepreneurs (2025)
By B_B_Rembow (@B_B_Rembow) – Abuja-based Entrepreneur & Business Coach | Published: November 16, 2025 | Updated: Real-time insights from Onitsha & Abuja markets
Photo: Market survey in Onitsha, Nigeria – where real customer insights are gathered (Source: Local fieldwork, 2025)
Market research is the #1 job of every successful entrepreneur.
It’s not guessing. It’s not “I think people will buy.” It’s studying your market, competition, and ideal customer — before you spend one kobo on production.
Do it wrong? You lose millions. Do it right? You build a business that lasts.
Why Market Research Is Crucial (Real Nigerian Example)
I once consulted for a food processing company along Onitsha-Owerri Road.
They created a beautiful sachet product — natural ingredient, long shelf life, no direct substitute. They spent ₦12 million on packaging and ads. Result? Zero sales in 18 months.
Why?
They never asked the customer.
When we sent agents to the market, the answer was clear:
“We already have the fresh version. Why pay for processed? What if it has chemicals?”
Lesson: People didn’t hate the product. They didn’t need it.
Proper market research would’ve saved ₦12M and 18 months.
Benefits of Market Research
- Discover what customers ACTUALLY want (not what you think)
- Find untapped gaps your competitors miss
- Avoid costly flops before launch
- Build confidence in pricing, marketing, and scaling
How to Conduct Market Research in Nigeria (Step-by-Step)
Best method: Go to the street. Nothing beats face-to-face.
1. Offline Research (Most Effective in Nigeria)
- Visit markets: Onitsha Main Market, Wuse Market, Oyingbo, Ariaria
- Ask open questions: “What do you use now? What do you hate about it? What would make you switch?”
- Observe behavior: What do people buy? What do they ignore?
- Test small batches: Sell 50 units in one area before scaling
2. Online Research (For Digital/Global Products)
- Google Trends → trends.google.com
- Jumia/Konga Reviews → See complaints = opportunities
- Social Mention → socialmention.com
- Survey Apps: Google Forms, Typeform, SurveyMonkey
- WhatsApp Polls: Fast, free, 90% response rate in Nigeria
Study Your Competition (The Silent Profit Killer)
Competitors aren’t just “other sellers.” They’re anyone whose product can replace yours in the customer’s mind.
How to Find Competitors in Nigeria
- Local Business Directories: VConnect, Finelib
- Chambers of Commerce: NACCIMA, MAN
- Trade Fairs: Lagos International Trade Fair, Enugu Trade Fair
- Google Search: “pure water sachet Onitsha” or “hair cream Abuja”
- Customer Feedback: “What else do you use instead of this?”
What to Track About Competitors
| Factor | What to Watch |
|---|---|
| Products/Services | Features, packaging, quality |
| Pricing | ₦50 vs ₦70? Why? |
| Distribution | Tricycle? Shop? Online? |
| Customer Loyalty | Free delivery? Warranty? |
| Branding | Logo, colors, slogan |
| Innovation | New flavors? App? Sachet size? |
| Staff | Trained? Uniform? Friendly? |
| Future Plans | New branch? Import ban? |
Pro Tip: Use competitors’ weaknesses as your unique selling point (USP).
Further Reading & Tools
- SBA Guide: Market Research & Competitive Analysis
- Harvard Business Review: The Right Way to Do Market Research
- Google for Startups: Free Market Research Tools
- Local Resource: How to Lay a Strong Business Foundation
- Follow for Daily Tips: @B_B_Rembow on X
Final Call to Action
Don’t build in the dark.
Before your next product:
- Talk to 50 real customers this week
- Ask: “Would you buy this? Why or why not?”
- Adjust. Launch. Win.
Your business deserves data, not hope.
Posts
