Market ResearchMarket Research

Finding the Answers to what you don't know.Finding the Answers to what you don't know.

And don't know that you don't know

Common ProcessCommon Process

Idea → Product Development → Marketing/SalesIdea → 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 ProcessBetter Process

Idea → Market Research → Product Development → $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

SandwichSandwich

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/MarketResearchOr

Email to: Roy@TheIntegrationEngineer.com