Aslapr market research for entrepreneurs mg irc presentation 09 22-14
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This document summarizes a presentation on market research for entrepreneurs given by Mark Goldstein of the International Research Center. It discusses what market research is, why it is important, and different types of information sources that can be used for market research, including industry associations, publications, reports, statistics, websites, social media, competitors, customers, and trends. The presentation provides an overview of frameworks and methodologies for gathering and analyzing market intelligence from both primary and secondary sources to inform business strategy.
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Aslapr market research for entrepreneurs mg irc presentation 09 22-14
- 1. Market Research for Entrepreneurs Presented September 22, 2014 in Phoenix, AZ by Mark Goldstein, International Research Center PO Box 825, Tempe, AZ 85280-0825, Phone: 602-470-0389 markg@researchedge.com, URL: http://www.researchedge.com/ © 2014 - International Research Center
- 2. Market Research and Analysis • What is Market Research? • Why Do Market Research? • What Do We Know Already? • What Do We Need to Know and Who Knows It? • Industry Information: Associations, Publications, Market Research Reports, Statistics, and Government Sources • Market Ecosystem, Market Segmenting and Sizing, Target Markets, Demographics, Advertising, and Trends • Pulling It All Together, Actionable Intelligence
- 3. What is Market Research? Market Research Definition: The systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services. American Marketing Association (AMA) Two main types of Market Research: Primary Research - Company or its representatives are involved in the actual data-gathering process such as distributing questionnaires, telephone or mail surveys, interviews, etc. Secondary Research - Involves the use of existing data that has already been created and/or compiled by someone else and is available in published form.
- 4. Why Do Market Research? Start-up Phase Establish key elements of your business and/or marketing plan Identify your target audience Study market characteristics Select the best location for your business Identify branding and marketing opportunities Engage the financial community and potential investors Expansion Phase Re-evaluate your customers’ changing needs Measure advertising efficiency Identify new markets and new opportunities Stay abreast of new developments and trends in your industry Detect and respond to emerging opportunities and threats
- 5. Market Research Tag Cloud Source: Digital Research, Inc. (http://www.digitalresearch.com/)
- 6. INFORMATION ABUNDANCE Source: Marketo
- 7. What happens in an Internet minute? In 2013, four zettabytes of data were created by digital devices. In 2017, it is expected that the number of connected devices will reach three times the number of people on earth. http://www.intel.com/content/www/us/en/communications/internet-minute-infographic.html
- 12. Market Research and Business Intelligence are not (just) about what competitors and markets are doing. Marketing tracks it all the time Management is well briefed on it News clipping and monitoring largely serves the need It’s about what competitors and markets will be doing. You must predict their likely strategies and moves. How will customers and end-users evolve and change? What will competitors be doing to your customers? What will suppliers be doing to your distribution and value chain? What will alternative technologies change the rules of the game? What will new entrants and acquisitions do to your industry.
- 13. Source: Dresner Advisory Services, 5/13
- 14. Insights in Marketing Collateral and Sales Tools
- 15. Business Intelligence User Methodology Source: GartnerGroup
- 16. The Building Blocks of Knowledge Source: Coveo 2013
- 17. Access Needs Vary by User Responsibility Source: The Yankee Group, September 2001
- 18. Categories of Business Information •Open source or public information •Product, investor and public relations literature •Open (unclassified) electronic information (i.e. Internet & Usenet) •Popular & technical journals (hard copy or database) •“Grey literature” produced in limited quantities for limited purposes •Open proprietary information •Legally conducted competitor intelligence •Reverse engineering of legitimately acquired products •Closed proprietary information •Industrial espionage or penetration of regulatory agencies •Classified information •Clandestine human or technical intelligence
- 19. What Intelligence Can Be Obtained Legally and Ethically? NNeeww LLeeggiissllaattiioonn NNeeww MMaarrkkeettss MMaarrkkeettppllaaccee CChhaannggeess CCoommppeettiittoorr AAccttiioonnss NNeeww TTeecchhnnoollooggyy NNeeww CCoommppeettiittoorrss 8800%%--9900%% ooff aallll iinnffoorrmmaattiioonn iiss ppuubblliicc kknnoowwlleeddggee Source: SCIP
- 20. Internal Sources Track and Know Pieces of the Puzzle Sales monitors customer response and competitors in the field Market research monitors consumer trends and demographics R&D monitors technology and science Finance monitors the investment community and M&A activity Purchasing monitors suppliers’ moves Everyone follows the company and industry news
- 21. Comparison of Web-Based Information Resources Source: DM Review 06/99
- 22. Information & Support Resources for Secondary Market Research Market Research Analysts and Reports Press Releases Industry Trade Magazines Trade Shows and Conferences Professional and Trade Associations Hierarchical Directory Sites Affinity, Community, and Resource Sites Topical Mailing Lists and Social Media Ó 2014 - International Research Center
- 23. The Network Infrastructure Influencer Universe Trade Publishers Network Infrastructure Vendors General & Business Press IT/Telecom Consulting Firms IT/Telecom Analyst Firms Communities Network Publications Professional & Industry Associations Component Manufacturers Infrastructure & Services End Users Regulatory, Compliance, & Market Trends Telecom Providers & Other Adopters Publications Subsc ribers Vertical Portals Conferences White Papers & Webinars Online Standards Members & Thought Leaders Social Media, Blogs & UGC Conferences Discussion Lists IT Book Authors & Trainers Source: International Research Center 6/08 (http://www.researchedge.com/)
- 24. Source: ESOMAR Global Market Research 2013 http://www.esomar.org/web/research_papers/book.php?id=2492
- 25. Internet Searching Growth in Internet users and sites continues unabated Even the best search engines index only a modest fraction of the open/free web, multiple search engines a little better Much content is sequestered from general searching Stuff just too obscure to find Content deep within sites, foreign country based Sites and pages come and go quickly - “link rot” Content & pages marked for robot exclusion Dynamically created content and page views Content behind passwords & gateways for subscribers Proprietary Intranet and Extranet sources Mixed-model search engines are arising integrating licensed content with open/free web hits, but learning and using the Invisible Web is essential to good searching strategies.
- 26. What Can Be Learned from a Company Web Site •Product announcements and pre-announcements •Executive changes •Facilities openings and closings •Lawsuits and court rulings •Job openings •Suppliers and subcontractors •Key customers •Prices and price structure •Financial results •Mergers, acquisitions and strategic alliances •Customer Feedback •Strategy statements Source: T.W. Powell Co.
- 27. Google Advanced Search http://www.google.com/advanced_search
- 33. Magazine & Periodical Sources Publishers’ sites may allow searching across all of their sources Niche and vertical portals may carry licensed content streams Numerous alert services summarize topical stories and point you back to a multitude of sources Some are topically-based while others allow user profiles Topical blogs highlight breaking stories and news Hundreds of Internet resource lists point to online publication sites
- 34. Press Releases Business Wire and PR Newswire still rule Alternative distribution services are arising May be an opt-in model with limited coverage MediaMap & Internet Wire up-and-comers May primarily reach online or niche publishers Searching is more difficult unless you know who a target company uses to distribute their releases through. Check the company’s web site for current and archived releases.. Rely on media searches to gauge reach and impact
- 43. Knowledge Extraction from Enterprise Data Source: Coveo 2013
- 46. Source: Dresner Advisory Services, 5/13
- 48. Reasons for Success with Business Intelligence Source: Dresner Advisory Services, 5/13
- 49. Why Business Intelligence Fails Source: Dresner Advisory Services, 5/13
- 51. Social Media Tag Cloud Source: Green Book Blog (http://www.greenbookblog.org/)
- 52. Social Intelligence serves many roles Source: March 12, 2010, “Defining Social Intelligence” Forrester report
- 57. Green Book Research Industry Trends Report 2013
- 60. Crowdfunding involves obtaining funds for one’s projects from a multitude of people who pledge or contribute a small amount in order to attain a certain return on their investment, which may be some level of equity in a project. The dilemma right now for equity crowdfunding in the USA is SEC regulation of the entire process and venture capital investors’ potential issues with follow on funding for crowdfunded startups. You can find an enormous repository of information on all forms of crowdsourcing at http://www.crowdsourcing.org/, including crowdfunding at http://www.crowdsourcing.org/community/crowdfunding/7. Small Business and Entrepreneurship Council: Crowdfunding & Capital Access - http://www.sbecouncil.org/resources/crowdfunding/ • Kickstarter - http://www.kickstarter.com/ • Indiegogo - http://www.indiegogo.com/ • fundable.com- http://www.fundable.com/ • getfunded.org- http://getfunded.org/
- 62. Emerging Technologies Hype Cycle Source: Gartner 8/13
- 63. IInntteerrnnaattiioonnaall RReesseeaarrcchh CCeenntteerr Presented by Mark Goldstein, International Research Center PO Box 825, Tempe, AZ 85280-0825, Phone: 602-470-0389, markg@researchedge.com, URL: http://www.researchedge.com/ YYoouurr RReesseeaarrcchh EEddggee © 2014 - International Research Center
Hinweis der Redaktion
- But now, there is an explosion of readily available information… This is a recent phenomenon… According to IBM, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone. IDC report, Extracting Value from Chaos, says that that amount of global digital information created and shared worldwide has grown 9-fold in the five years to 2011 to nearly 2 zettabytes (2 trillion GB), and should quadruple again by 2015 All this data = buyers today are more empowered. The Web provides them with instant information gratification. They can access detailed specs, pricing, and reviews about goods and services 24/7 with a few flicks of their thumbs. Meanwhile, social media encourages them to share and compare, while mobile devices add a wherever/whenever dimension to every aspect of the experience. Result: 65-90% of buying process is complete when consumer is walks into store/branch/dealer, or contacts sales Requires deep changes in how we market to consumers. So, how are we as marketers doing responding to this?