2. One fine day…

3. Revisit where is
possible market
space/place for you…

4. Option # 1
Intropreneur Studio 2012
4

5. Option # 2
Intropreneur Studio 2012 5

6. Option # 3
Intropreneur Studio 2012 6

7. Option # 4
Intropreneur Studio 2012 7

8. As an entrepreneur…
Need to take calculated risk
Devise pro-active strategies before
embark into the target market space
MARKET PLACE

9. MARKET PLACE/
PRE-BUSINESS VENTURE
SURVEY
BEN 2010: Introduction to Cyberpreneurship
Lecture 3

10. 3 Driving Forces of New Venture
Opportunity Entrepreneur
Fits & Gaps
Business Plan
Resources

11. Challenges for New Venture
Limited resources
• Financial & Managerial
Time Constraint
Little or No Market Share
Decision Making
• Muddled by strong personal biases and beliefs
Managing stakeholders
• Not just end customer but investors, staffs, business
partners
Thus, market information is vital

12. BASIC DEFINITION
 Any organized effort in gathering
relevant data that subsequently
translated into information about
the market place to operate
potential business venture.

13. PRACTICAL DEFINITION
Systematic gathering
and interpretation of
information about
individuals or
organizations
Using statistical and
analytical methods to
gain insight about the
future operation or to
support decision making

14. FUNCTIONS
• Provides important information to
MARKET
identify and analyze the market
DESCRIPTION : need & market size
• What do potential customers’
• need (necessity),
• want (desire), or
MARKET IDEAS: • believe (trend).
• Discovering how they act to things that
you will offer…
STRATEGIC • Key factors to get advantage over
MARKETING: competitors

15. Example I:
Market Ideas Strategic
Market
Description • Necessity: Standard Marketing
Sugar/Choc Donut
• Tasty • Desire: Assortment • Branding
• Public • Trend: Donashi by Big Apple • Price
• Varieties
• Festive Seasons
• Niche Customer

16. Market SCOPES
Market information
Spending
Power
Market segmentation
Specific Market
Population
Size
Customer
Market trends
Personalities:
Competitive,
What’s Hot ?
Spontaneous,
Supply What’s Cool ?
Social &
& Methodological
Demand

17. Example II: Idea of Selling Raincoat
@ MMU Cyberjaya
• Prices – Look @ Market Price (RM 40 – 70)
Market • Size – Number of population
• Supply & Demand –
Information: • Do people wear raincoat?
• Any supplier?
Market • Gender
Segmentation • Classify them according to their personalities
• What Brand is the current favorite?
Market Trends • What type of color?

18. Market DIMENSION
Business • Operation
• Marketing
Strategies • Finance
• Competitors Intelligence
Competitors • Competitors Strategies
• Product Intelligence
Insight • Pricing
• Product Promotion
• Market Understanding
• Market Size
• Trend
Market Insights • Customer Insight
• Brand Preference
• Brand Awareness
• Brand Consideration

19. CUSTOMER CHOICE PROCESS
PROVIDER CUSTOMER
 Create & Capture
Value Awareness
 Product features
 Price Perception
 Deliver &
Communicate Preferences
Value
 Availability
Choice
 Advertising
 Sales Force
 Public Relations Satisfaction/Loyalty
 Guerilla Marketing

20. How to do survey?
Define Market Space
Choose Method
Primary Secondary
Data Collection
Survey Literature Review
Data Analysis & Findings
Statistics – Mean, Mode, Median etc…
Outline strategies

21. Examples: Questionnaires
 Field work
 Census Survey
 Focus Group
survey

22.  Online survey
 Facebook
 Surveymonkey.com
 Etc…

23. GUIDELINES
Specific
Cover Exact Population
Timely Measurable
Statistics, #, % , Formula
Up to date
Reliable Attainable
Real Data Within the scope

25. MARKET SUCCESS……

26. Just a thought!!
Terence Conran
(founder of Conran Shop,UK)
“Market research can be
not just misleading, but
disastrous for people
who work on instinct.”

27. Online Resources
 http://managementhelp.org/marketing/market
-research.htm
 http://sbinfocanada.about.com/cs/marketing/a/
marketresearch.htm
 http://www.entrepreneur.com/article/217345