1. introduction to market research (need d.light)

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1. introduction to market research (need d.light)

  1. 1. Market Research 1
  2. 2. Slide to remind students of deliverable • Maybe the schedule of the remaining work days
  3. 3. Why do research?
  4. 4. Understand your market Look for similar ideas Identify Competitors Identify Complimentary partners Identify your target market Identify the needs of your user Improve your idea
  5. 5. Case Study: d.light The big idea: to enable households without reliable electricity to attain the same quality of life as those with electricity. d.light will begin by replacing every kerosene lantern with clean, safe, affordable and bright light using solar technology through a range of models.
  6. 6. Will they be successful?
  7. 7. • • • • • • • • • • • • Should they make lamps for homes or businesses? Is there a bigger or better lamp maker out there? Are they more expensive or less? How much should they charge? How much can people afford to pay? Is there lamp too big or too small? Who is the decision-maker in the family? What parts of the world would want this? Has anyone tried to sell something like this before? What methods did they use? Who could they partner with? Who is distributing/selling something that would complement this?
  8. 8. What is needed?
  9. 9. Market Research
  10. 10. d.light’s Competitors
  11. 11. d.light’s Complimentary Partners
  12. 12. How to do Market Research (or “Googling 101”)
  13. 13. Again, Why Is It Important? • • • • • Know if something already has your name/idea Know who is against you and who is for you Know the foodchain and where you are in it Help you choose between ideas Give you new ideas
  14. 14. Tips • • • • • • • • Think broadly about your idea (lamplight source) Mistype or mistake things (delight lamp, natural powered) Try different combinations of words (powered by sun) Do a Boolean search (“sun-powered light source” will return only results with that exact combination of words) Focus on keywords, rather than sentences (What is something that gives light to poor people?) Try Google Images, Facebook, Youtube, and Google Scholar as well Add country/region words to narrow in Search in different languages (apply all of the above)
  15. 15. Example
  16. 16. In-Class: Market Research for your solution(s) Focus on: • Competitors • Complementary Partners/Products • Costs • Size of need/market
  17. 17. Copyright © African Leadership Academy, 2011

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