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Market Research & Competitive Intelligence

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From Small Business Action Council, Greater Rome Chamber of Commerce

From Small Business Action Council, Greater Rome Chamber of Commerce

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  • Boolean terms: quotes, +, AND, OR, NOT
  • Twitter: landscaping search turns up not just information but key blog (gardeningafterfive.com)
  • Boolean terms: quotes, +, AND, OR, NOT
  • Boolean terms: quotes, +, AND, OR, NOT
  • Transcript

    • 1. Market Research & Competitive Intelligence
    • 2. Market Research
      Any organized effort to gather information about markets or customers in order to identify and analyze market need, market size, and competition.
      • Find potential customers.
      • 3. Launch products.
      • 4. Open new location.
      • 5. Deepen relationships.
      • 6. Wake up dormant relationships.
      • 7. Find growth opportunities.
    • Types of Research
      Quantitative Vs. QualitativeInternal Vs. External
      Pre and Post Advertising
    • 8. Types of Data
      Demographics
      Socioeconomics
      Firmographics
      Peer/Aspirant
      Psychographics
    • 9. Questions to Ask: External
      How many customers could I have? (market size)
      How many customers am I missing? (market penetration)
      Is there a need for this product or service? (market need)
      Where’s the best place to locate my business? (market concentration)
      Who else is selling a similar product or service? (competition)
      What are different types of customers? (segmentation)
      What is the decision process for a buying customer? (motivation)
      Where is my industry going? (trend)
    • 10. Data SourcesExternal
      Primary: Surveys, Focus Groups
      Secondary:
      • Census Data or Google Public Data
      • 11. Berry Market Research Guide
      • 12. James J. Hill Business Library
    • Data SourcesExternal
      Commercial:
      American Marketing Association
      Advertising Age
      Inc MagazineHarvard Business Review
      Hoovers
    • 13. Data SourcesExternal
      Social
      Twitter
      LinkedIn
      Company.com
      SocialMention
      Technorati
    • 14. Data Sources
      As It Happens
      Google Alert
      SocialMention Alert
      RSS Feeds
    • 15. Questions to Ask: Internal
      Who are my customers? Where do they live? What do they do?
      Who are my best customers? Worst?
      How often do they buy? How much do they typically spend?
      How loyal are they to my product/service?
      What is their main motivation for buying?
      How have my customers changed?
      What else are they looking for?
      Why do they leave?
    • 16. Data SourcesInternal Market
      web analytics
      surveys
      post purchase questionnaires
      focus groups
      case studies
      mystery shoppers
      catered lunch questionnaires
      top five best/worst interviews
    • 17. Marketing Research
      Any organized effort to gather information about methodologies, processes, campaigns to reach your market.
      • Increase return on investment.
      • 18. Get more customers.
      • 19. Increase exposure.
      • 20. Improve communications.
    • Marketing ResearchPost Advertising
      What is the best way to talk about my product/service?
      What defines success in a campaign? (volume vs. quality)
      What channels should I choose?
      Which channels were most successful?
      What was my return on investment?
    • 21. Data SourcesPost Advertising
      A/B Testing
      Advertising Tracking
      Goal Funneling
    • 22. Gather data because you want to do something with what you find.
    • 23. Listen. Plan. Implement.
      Repeat.
      Marketing 2.0
    • 24. SAIDigital
      http://www.saidigital.co
      Resources: about-us/workshops
      Twitter: @sai_digital
      706.622.4545

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