Market Research 1

Slide to remind

students of

deliverable

• Maybe the schedule of the remaining

work days

Why do research?

Understand your market

Look for similar ideas

Identify Competitors

Identify Complimentary partners

Identify your target market

Identify the needs of your user

Improve your idea

Case Study: d.light

The big idea: to enable

households without reliable

electricity to attain the same

quality of life as those with

electricity. d.light will begin

by replacing every kerosene

lantern with clean, safe,

affordable and bright light

using solar technology

through a range of models.

Will they be successful?

• Should they make lamps for homes or businesses?

• Is there a bigger or better lamp maker out there?

• Are they more expensive or less?

• How much should they charge?

• How much can people afford to pay?

• Is there lamp too big or too small?

• Who is the decision-maker in the family?

• What parts of the world would want this?

• Has anyone tried to sell something like this before?

• What methods did they use?

• Who could they partner with?

• Who is distributing/selling something that would

complement this?

What is needed?

Market Research

d.light’s Competitors

d.light’s Complimentary Partners

How to do Market Research

(or “Googling 101”)

Again, Why Is It Important?

• Know if something already has your name/idea

• Know who is against you and who is for you

• Know the foodchain and where you are in it

• Help you choose between ideas

• Give you new ideas

Tips

• Think broadly about your idea (lamplight source)

• Mistype or mistake things (delight lamp, natural powered)

• Try different combinations of words (powered by sun)

• Do a Boolean search (“sun-powered light source” will

return only results with that exact combination of words)

• Focus on keywords, rather than sentences

(What is something that gives light to poor people?)

• Try Google Images, Facebook, Youtube, and Google

Scholar as well

• Add country/region words to narrow in

• Search in different languages (apply all of the above)

Example

In-Class:

Market Research for your solution(s)

Focus on:

• Competitors

• Complementary Partners/Products

• Costs

• Size of need/market

Copyright © African Leadership Academy, 2011