Market Research Presentation

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Answers your questions about market researach and how to use it to grow your business.

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Market Research’s Value d i r e c t i o n

What is Market Research? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Without a clear direction we slow down, uncertain of where to head. Market Research provides direction with clarity that allows for focused effort and speed . Its all about the customer-- the more you know about the customer the more likely it is you can offer the right product, at the right time, at the right place, with the right price ,[object Object],[object Object]

Benefits of Market Research ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],After hiring an experienced, qualified market research firm you should be able to understand your customers better, identify market opportunities, make informed marketing decisions, formulate business planning and use the data to justify more creative and bolder business decisions .

Discovery Provoke Insights Trends Final thoughts can go here Research – More than nice to know. Evidence Are observations supported by data?---Patterns/associations/ behavior? Hypothesis Are we ready to go where the evidence/data points? What is the plan of action? Problems Challenges Opportunity Evoke Is Benefit > Cost? An event or change occurs which provokes action. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A new idea or product evokes action. Market Research is considered when : … . unexpected challenges or problems arise or … . considering future (unknown) opportunities and growth.

Market Research Identifies Value – ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Value – Benefits derived from burdens endured . It is what each customer perceives it to be.

… for you and your customers Creating a Value Proposition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Offer Product/Service ROI for the Business Value Return on Experience for the Customer Delivery Channel/Process Customer Goals Business Goals

Value Proposition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Value Proposition – A commitment to deliver a specific experience, profitably and competitively.

Uncover Your Value Proposition– with Market Research ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Its all about the customer-- the more you know about the customer the higher the probability that you can offer the right product, at the right time, at the right place, with the right price. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Market Directions’ Value Proposition– Our promise to you. ,[object Object],[object Object]

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I had the pleasure of mentoring the 2012 class of entrepreneurs at Founder Institute Chicago. Here is the presentation I delivered on "Market Research for Startups". The lesson provides high level guidance on: (i) what types of markets to pursue; (ii) how to find data on your market; (iii) how to define your competitors; (iv) how to cost-effectively do market research; and (v) how to determine if you can win, or if you should walk away. This lesson helps entrepreneurs with learning how to do the necessary market research upfront, before wasting a ton of money on a bad idea. Here is a link to the matching video for the audio part of the presentation: http://redrocketvc.blogspot.com/2012/06/video-george-deeb-teaches-market.html. For more lessons, read my 101 Startup Lessons on the Red Rocket website (www.RedRocketVC.com) or follow me on Twitter (www.twitter.com/georgedeeb).

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All too often we hear sales people complain that their customers continue to resist value arguments and insist that the lowest supplier price will get the business. However, it does not have to be this way. In fact, effectively selling value can transform you and your company into a Trusted Business Partner to your customers. Learn how to: - Define Value Selling and Value Marketing - Develop quantified value propositions - Identify the Value Buyers in your Customer's organization and how to get to them - Determine high impact Value Selling messages - Consistently apply Value Selling and Marketing techniques to get the prices you deserve - Integrate Value Selling Plans with your Strategic Account Plans and coach account managers to improve their Value selling capabilities

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