Mark Goldstein of International Research Center presented an updated version of his Market Research for Entrepreneurs presentation to the Ahwatukee Chamber of Commerce on Wednesday, November 19, 2014 in Phoenix, AZ. It focused on easy, low-cost ways to evaluate your target market, identify emerging trends, and anticipate competition and covered market research vs. business intelligence, identifying your value chain and influencers, Internet searching tips & tricks, the deep web and dark web, industrial-strength databases, data analysis & actionable intelligence, dashboards for real-time monitoring, the advent & implications of big data, the developing Internet of Things, social media strategies & metrics, and venture capital/crowdfunding sources.

1. Ahwatukee
Business Development
Market Research for
Entrepreneurs
Presented November 19, 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, Social
Media, News Alerts, Dashboards, Internet of Things,
Big Data, Venture Funding
• 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

9. http://www.kurzweilai.net/ask-ray-the-future-of-moores-law

10. Source: Line//Shape//Space

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?
New
Legislation
New
Markets
Marketplace
Changes
Competitor
Actions
New
Technology
New
Competitors
80%-90% of all
information is
public knowledge
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
 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

28. http://www.pcmag.com/slideshow/story/326078/18-google-search-tips-you-need-to-learn

29. https://archive.org/
https://archive.org/advancedsearch.php

32. http://www.zillman.us/white-papers/deep-web-research-and-discovery-resources-2014-llrx-feature-article-and-online-white-paper/
http://deepweb.us/

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

35. http://www.azlibrary.gov/dazl/databases

36. http://catalog.phoenixpubliclibrary.org/search/misc/esources.aspx

37. http://bi.galegroup.com/essentials/?userGroupName=phoenixpl

38. http://www.referenceusa.com/

39. http://directory.esomar.org/

40. http://www.bizjournals.com/

41. http://www.llrx.com/features/busintellguide2014.htm

42. http://www.claritas.com/sitereports/demographic-reports.jsp

43. http://www.greenbookblog.org/2013/09/26/the-honomichl-top-50-esomar-global-25-the-need-to-re-define-market-research/

44. Knowledge Extraction from Enterprise Data
Source: Coveo 2013

45. Source: Coveo 2013

47. Source: Dresner Advisory Services, 5/13

48. https://support.google.com/alerts/?page=faq.html&hl=en

49. Tableau Software
http://www.tableausoftware.com/

51. Reasons for Success with Business Intelligence
Source: Dresner Advisory Services, 5/13

52. Why Business Intelligence Fails
Source: Dresner Advisory Services, 5/13

54. Social Media Tag Cloud
Source: Green Book Blog (http://www.greenbookblog.org/)

55. Social Intelligence serves many roles
Source: March 12, 2010, “Defining Social Intelligence” Forrester report

57. http://socialmediatoday.com/pamdyer/1458746/50-top-tools-social-media-monitoring-analytics-and-management-2013

58. http://hootsuite.com/

61. Internet of Things (IoT) Ecosystem Conceptual Rendering
Source: IEEE Computer - Imagineering an Internet of Everything 6/14

64. Source: OLAP.com (http://olap.com/big-data/)

67. http://www.massinvestor.com/rm_vc.htm

68. http://www.caycon.com/arizona-venture-capital.php

69. 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/

71. Emerging Technologies Hype Cycle
Source: Gartner 7/14

72. International
Research Center
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/
Your Research Edge
© 2014 - International Research Center