Market Insight: Conducting Market Research (SBU)
Market research is the systematic process entrepreneurs use to gain insight into market problems and opportunities. The term market includes not only customers, but all players who are responsible for bringing certain products and services to market including suppliers, competitors, producers, wholesale distributors, retailers, logistics, and so on. To conserve time and money, successful entrepreneurs minimize the resources they devote to researching their ideas. Unlike the corporate world, the entrepreneur only does as much research and analysis to justify the next action or investment. This course presents scores of best practice concerning how entrepreneurial research is actually implemented. Answers to questions about market segments, consumer and business markets, market size, and sales forecasts are all addressed through step-by-step processes. Any entrepreneur should want to know as much as possible about any market they participate in. This course provides the guidance and resources necessary to develop just such a working knowledge. Topics covered by this course include: The market research process The market environment Researching your industry Market segmentation and targeting Researching consumers Researching business customers Estimating market size Creating a sales forecast Customer survey techniques Consumption chain analysis Course Objectives To provide the process steps of conducting market research and the how the process differs for a small entrepreneurial venture as compared to a large corporation. To provide the tools used to explore the external market environment, segment customers into target markets, and define the consumption chain for a customer segment. To provide the secondary market data available for researching your industry, customers, industry size, and sales potential. To provide the primary market research techniques used to answer specific marketing questions. Course is approximately 3.0 hours to 3.5 hours in length and provides over 161 animated slides complete with voiceover narration.
Co-Sponsor(s): Greater Mount Airy Chamber of Commerce, Yadkin County Chamber of Commerce, Yadkin Valley Chamber of Commerce
Fee: No Cost