How many times have you wondered about setting up your own business or how to find out where the demand for a certain product is the highest in the world? I have quite a few times and some time ago I discovered how to do this.

A company in the market economy survives by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a company’s future viability and even existence as a going concern.

One great tool to answer these crucial questions is Google Trends, which now merges Google Trends with Google Insights for Search. Google Trends enables comparing the popularity of search terms over time and across regions (http://www.google.com/trends/)

In practice, one can check what products (product names, brands, etc.) are searched the most in a country, compare product searches, and see the most popular searches at a particular time.

In my project I used the tool to identify:

• the products with the highest demand and growing demand
• the geographical areas (countries) with the highest demand for certain products
• demand trends for the year

Google Trends allows sorting out the information by country, search type, time and category and also presents a map with information on search volumes per geographical areas. It is also possible to see related search terms with search volumes and related search terms.

Once you have collected the necessary data, you can make an informed decision as to whether it would be profitable to invest in introducing a particular product on the market and where. You could also study the existing supply by comparing several products in order to find particular market niches and determine where supply is not saturated yet. With such valuable information, it is then easy to decide where and with what to start your new business venture.