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2. Market research
1. New product research
www.henter.co
New
Product
Research
- What do customers really
need?
- Adapt product to meet
needs
- Competitive advantage
- Product testing
- Key issues
- Customer satisfaction
- Competing products
www.henter.co
Carrying out product research
www.henter.co
2. Market research
2. Surveys
www.henter.co
Questionnaires, surveys and focus groups
www.henter.co
Understand your
market and
clients
Market
research techniques
www.henter.co
www.henter.co
Accuracy Guidelines
https://www.mrs.org.uk/standards/guidelines
2. Market research
3. Market Analysis
www.henter.co
What is a Market Analysis?
www.henter.co
Find out the characteristics
that are unique to your
particular market and
analyze this information.
What to
Include in Your
Market Analysis
www.henter.co https://commons.wikimedia.org/wiki/File:Global_OCTG_Market_Analysis_and_Future_Ou
tlook.jpg?uselang=es
Industry
description and
expectation
Size
Trends
Life Cycle
projected
development
www.henter.co https://commons.wikimedia.org/wiki/File:Existing_Industry.JPG?uselang=es
Target market
• User Persona and
Characteristics
• Market size
http://makemypersona.co
m/
www.henter.co
https://commons.wikimedia.org/wiki/File:Target-
market-in-marketing-plan.jpg
Competitive
analysis
• Market
• Competitor strengths
and weaknesses
• The importance of your
target market to
competitors
• Barriers to entry
• Opportunities
www.henter.co
Projections
www.henter.co
https://commons.wikimedia.org/wiki/File:Desktop_Search_
Engine_Market_Share.png?uselang=es
Regulations
www.henter.co
- Administrative
regulations
- Limitations on
your market
https://commons.wikimedia.org/wiki/Category:Alcohol_regulation
?uselang=es#/media/File:Notice_of_Suspension_(4299481421).jpg
Get Data
www.henter.co
- Present customers
- Internet
- Government sites
- https://open-
data.europa.eu/en/data/
- http://data.worldbank.org/produ
cts/data-portals
- http://dataportals.org/
https://commons.wikimedia.org/wiki/File:Australian_Census_2011_demog
raphic_map_-_Victoria_by_POA_-
_BCP_field_2565_Speaks_other_language_Arabic_Persons.svg?uselang=es

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Module 2 market research