Market Research, An Introduction

Market Research Finding the Answers to what you don't know. And don't know that you don't know

Common Process Idea -> Product Development -> Marketing/Sales

How this process fails...
Started a blog
Zero Money
Learned and added SEO and other Techniques
Achieved top 5 rank on Google
Zero Money
“ I'm my own #1 fan!”
Finally did Market Research on my product
Global market of 500 people.

Better Process Idea -> Market Research -> Product Development -> $

The First Question What is my market?

PB&J Inc “ We make and sell peanut butter and jelly sandwiches to hungry people needing lunch in a hurry with no time to make it themselves and who don't want a big selection menu. We have pre-packaged brown bag meals ready to go, with out any waiting. And we deliver.”

PB&J Inc Sandwich, Hungry People, Hurry, Small Selection, Pre-Packaged, Brown Bag, Deliver

PB&J Inc Sandwich

The Second Question How big is the market?

The Third Question Are people Spending Money in this Market?

Summing it up
After we answer the 20 questions, we need to make our go/no-go decision.
Repeating our Market Research process periodically helps us keep track of our market and the competion.
Be creative and tailoring your aproach to your market.

If you want a copy of these slides, and some other market research information… TheIntegrationEngineer.com/MarketResearch Or Email to: [email_address]

Market Research, An Introduction

by royhayward on Jun 17, 2010

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Market Research, An Introduction — Presentation Transcript