module 2 market research
TRANSCRIPT
2. Market research
1. New product research
www.henter.co
New Product
Research
- What do customers really need?
- Adapt product to meet needs
- Competitive advantage- Product testing- Key issues- Customer satisfaction- Competing products
www.henter.co
Carrying out product research
www.henter.co
2. Market research
2. Surveys
www.henter.co
Questionnaires, surveys and focus groups
www.henter.co
Understand your market and clients
Market research
techniques
www.henter.co
www.henter.co
Accuracy Guidelines
https://www.mrs.org.uk/standards/guidelines
2. Market research
3. Market Analysis
www.henter.co
What is a Market Analysis?
www.henter.co
Find out the characteristics that are unique to your particular market and analyze this information.
What to Include in Your Market Analysis
www.henter.co https://commons.wikimedia.org/wiki/File:Global_OCTG_Market_Analysis_and_Future_Outlook.jpg?uselang=es
Industry description and
expectation
SizeTrendsLife Cycleprojected
development
www.henter.co https://commons.wikimedia.org/wiki/File:Existing_Industry.JPG?uselang=es
Target market• User Persona and Characteristics• Market size
http://makemypersona.com/
www.henter.co
https://commons.wikimedia.org/wiki/File:Target-market-in-marketing-plan.jpg
Competitive analysis
• Market• Competitor strengths and weaknesses• The importance of your target market to competitors • Barriers to entry• Opportunities
www.henter.co
Projections
www.henter.co
https://commons.wikimedia.org/wiki/File:Desktop_Search_Engine_Market_Share.png?uselang=es
Regulations
www.henter.co
- Administrative regulations
- Limitations on your market
https://commons.wikimedia.org/wiki/Category:Alcohol_regulation?uselang=es#/media/File:Notice_of_Suspension_(4299481421).jpg
Get Data
www.henter.co
- Present customers- Internet- Government sites- https://open-data.europa.eu/en/data/
- http://data.worldbank.org/products/data-portals
- http://dataportals.org/
https://commons.wikimedia.org/wiki/File:Australian_Census_2011_demographic_map_-_Victoria_by_POA_-_BCP_field_2565_Speaks_other_language_Arabic_Persons.svg?uselang=es