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Marketresearch2011
 

Marketresearch2011

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A step by step guide to for social entrepreneurs who are looking to set up a social business and who want to do some market research.

A step by step guide to for social entrepreneurs who are looking to set up a social business and who want to do some market research.

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Marketresearch2011 Marketresearch2011 Presentation Transcript

    • Market research
    • Rob Greenland
    • www.thesocialbusiness.co.uk
  • Today
    • Market research - done by you
    • Talk about why it matters
    • Some ideas for what you can do - step by step
  • Introductions
    • You, your idea and any thoughts/news since last time.
  • DIY market research
    • You’ll never feel like you’ve done enough
    • But don’t make the perfect the enemy of the possible
    • Someone else might do it better - but at a price
    • There’s every chance you’ll do nothing
    • So, do what you can, and do it well
  • Why bother?
    • It can help you to decide whether setting up this business is a good idea
    • It can help you to understand your market better - find your niche, identify opportunities
    • It can help you to understand your customers - and serve them better
  • Step 1 - Decide what market you are in
    • Ask what your customer needs.
    • Specifically – what social care outcomes can you help them to achieve?
    Picture from flydime via flickr.com
  • Why this is helpful
    • Focusing on needs helps you to think more broadly about who your competitors are.
    • You might also identify people you could collaborate with
    • It immediately focuses your research on your customers - if you understand them, you have a greater chance of success.
  • Step 2: Agree aim
    • Don’t do research for the sake of doing research.
    • Ask yourself: What do I want to find out? What question(s) do I want to answer?
    • eg: My aim is to find out as much as I can about how people with a learning disability in Leeds who are interested in art.
    • Estimate size of market, understand opportunities, find my niche, identify unmet needs……
  • Step 3: Agree how to keep track of what you find out
    • Although our approach is logical, the way you will find things out won’t be so logical
    • A book?
    • A research blog (password protected)?
    Photo from koalazymonkey via flickr.com
  • Step 4: Decide how you will analyse your research
    • Is there anyone else you can discuss things with?
    • Research on its own has limited value - it’s discussing it - and then taking decisions based on it - that matter most.
  • Step 5 - Start your research
    • Market as a whole
    • Customers
    • Competitors
    • Collaborators
  • Your market
    • What would it be useful to know?
    • How will I find things out?
    • Secondary research
    • Primary research
  • Your market - ideas
    • Your knowledge, and knowledge of others
    • Mintel, Keynote,….
    • Journals, Magazines, Newspapers…
    • How-to books, biographies…
    • Springwise
    • Other ideas….?
  • Your customers
    • What would it be useful to know?
    • How will I find things out?
    • Secondary research
    • Primary research
  • Customers - ideas
    • Mintel, Keynote - customer segmentation
    • Journals, Magazines, Newspapers…
    • Talk to people! Ask them questions, look at their current behaviour, eg what they buy.
    • Questionnaires, online surveys….other ideas?
  • Surveymonkey.com
  • Your competitors
    • What would it be useful to know?
    • How will I find things out about them?
    • Secondary research
    • Primary research - eg mystery shop etc
  • Competitors - think about…
    • Try to think about who may enter the market - as well as current competitors
    • Assess your competitors - what do they seem good at - not so good at?
    • Where might there be opportunities? Can you identify a niche for your business?
  • Collaborators
    • Who could we work with to serve our customers better? How could we benefit? What could we offer?
    • Who could help us to establish ourselves in this market?
  • Step 6: Research  Intelligence
    • Review what you’ve found out
    • You might find it helpful to do this with other people - can you work with eachother - set up a research circle?
    • Try mind mapping it.
  • Research Mind Map
  • Step 7: Make judgments, take decisions
    • What are your conclusions, based on what you have discovered?
    • What are you going to do as a result of what you have found out?
    • Can you answer your original question?
  • To recap
    • Decide what market your are in
    • Agree the aim of your research
    • Decide how to keep track of your research
    • Decide how you will analyse your research
    • Start your research - MCCC
    • Turn your research into intelligence
    • Make judgments - take decisions
  • Don’t stop now
    • Research is an ongoing process.
    • Keep listening - stay curious
    • Your market, your customers, competitors, collaborators, will all keep evolving.
    From quinn.anya via flickr
  • Questions and Comments From db*photography via flickr
  • What will you do next?
  • What happens next
    • Social mission
    • Objectives
    • Activities
    • Values
  • Questions and Comments From db*photography via flickr