Through the use of free tools you can do thorough market research in a matter of hours; the same research would have been less accurate and cost thousands of dollars not less than 10 years ago. It's a great time to own a business!

Market research allows entrepreneurs/businesses to learn about their prospective customers before they begin to invest the time and money in starting a new venture. Online tools have emerged that allow anyone to perform market research.

In July, we featured Vanessa Fox's book Marketing in the Age of Google. Perhaps one of the most interesting excerpts found in the book is Fox's hypothetical look at a company trying to create a better digital camera using the web as a primary market research tool. First the company "BetterCamera," must uncover the top searched-for digital camera features and find a point of differentiation: underwater cameras.