Business Environmental Scanning & Market Research Trend for New Businesses/ Startups

1. Business Environmental
Scanning
&
Market Research Trend for New Businesses/
Startups

2. Environmental Scanning
• Environmental analysis will help the firm to understand what is
happening both INSIDE AND OUTSIDE THE
ORGANIZATIONand to increase the probability that the
organizational strategies developed will appropriately implemented.
• Environmental scanning is necessary because there are Rapid
Changes taking place in the ENVIRONMENT that has a great
impact on the working of the BUSINESS FIRM.
• Analysis of business environment helps to identify strength weakness,
opportunities and threats. SWOT analysis is necessary for the
survival and growth of every business enterprise reflect the
organizational environment.

4. Importance of environmental scanning in
entrepreneurship
Environmental Scanning is an
important business tool in any
entrepreneurship. When an
entrepreneur is producing new
ideas, plans or innovation of any
kind he must first understand if the
environment is suitable for this.
It helps them develop their creative
ideas into actual products that can
be offered in the market. So
scanning the environment will help
him gauge the acceptance of the
product, and the opportunities and
threats he may face.

5. Approach to
Business Process
• Business Idea
• Market Dynamics
• Consumer Segment
• Execution Feasibility
• Internal & External Risks

6. Why this Business??
Is it for MASS or CLASS
Is the idea Scalable?
Are You a Problem Solver?
Are You Gain Creator?

7. Factors of environmental scanning in
entrepreneurship
Value Proposition Canvas –
Success of your Business
Idea depends on how
artistically you have
painted your Value
Proposition
Messaging – What
Message you use to
connect the Core Audience
that “You Are Right Choice”

8. Conventional Tools

9. SWOT Analysis

10. PESTLE Analysis
• Competition
• Substitute Products
• Consumer behavior
• Regulatory & Compliance Conditions
• Reforms and Incentives for Industry
• Industry Sentiments

11. Porter’s Five
Force Model

12. Contemporary
Models

13. Customer Journey
• Focus on insights from various stages
• Every stage could have some inherent
message from market
• Right kind of inferences at right time
can be suitable for right decisions

14. Data Analytics
• Garner Structured Data
• Garner Unstructured Data
• Use ETL Tools (extract,
transform, load)
• Generate Visualizations
• Take Decisions

15. Sentiment Analysis

16. Sentiment
Analysis-
Tools and
Techniques

17. Forums

18. Social Media – A Tool
Can’t afford to Ignore
• In most cases, utilizing social media for market research is simply a matter of investing time. ...
• Through user engagement and discussion, your social media research also serves as
• advertising,
• brand building,
• network building,
• lead generation and
• offers numerous other improvements for your business or brand

19. Market Survey Tools

21. Collaboration

22. Distinct Models
• Social Media Platforms
• Exclusive Forums
• Mobile Platforms –
Apps/Services
• Study more closely
consumer behavior, being in
their smartphones

23. Have an eye for Insights…… Digital Data of consumers

24. The
Lifestyle Change
Name 3 Necessities of Life
• Air
• Water
• ????

25. The
Digital Twist

26. How Digital Marketing works as
tool & helps in Environmental
Scanning?
Learn from others
Spy on your competition
Use Facebook to research your leads
Create buyer personas

27. Social Media
• Market research has gone mobile
• When Dove launched its #SpeakBeautiful campaign on Social Media
• What happened next was one of the most effective online marketing campaigns of the 21st
century:
• 36% decrease in body shaming comments on Twitter
• 63% increase in sales
• 168,000 mentions with the hashtag in a year
• What Dove and Twitter used to their advantage, businesses are now turning to in droves – using
social media for market research.

28. Use Social Media for Market Research
• Social media market research is the process of gathering quantitative and/or qualitative data from
social media platforms to understand social, consumer, or market trends.
• Other forms of market research can also be effective – such as surveys, focus groups, online polls,
etc., – but are costly, time-consuming, and inconclusive.
• Social media market research is a better business investment as it:
• Has a higher ROI
• Gives immediate and/or historical data
• Returns results from independent environments

29. Digital Approach to Value Proposition

30. Use Social Signal for Empathy Map Canvas

31. Have a Look

32. Growing Higher YoY

33. Adaptive
Intelligence

34. Digital War is
On
• Digital Source becomes Critical & Integral
part for Success of Any Data Analysis
• 21st Century Entrepreneurs are taking
advantage & influencing Business
Environment DIGITALLY
• Get Yourself Master in the Social Media as
Tool for Modern & Trendy Business
Environmental Assessment Medium
• Digital Data is next BIG Currency
• Don’t Miss the BUS.

35. Zero Hour-
Question
Session
Shakir Ali
Founder & CEO of DiGiTOZE Consulting Services LLP
(a House of Digital Professionals)
+91-9849256286 | info@Shakirali.in | www.ShakirAli.in