Market ResearchMarket Research

John GilbertJohn Gilbert

Add-Add-OptionsOptions.org.org

Where is the Life we have lost in living?Where is the Life we have lost in living?

Where is the wisdom we have lost in Where is the wisdom we have lost in knowledge?knowledge?

Where is the knowledge we have lost in Where is the knowledge we have lost in information?information?

T. S. EliotT. S. Eliot

The Rock (1934)The Rock (1934)

ImportanceImportance

Market Research reduces Market Research reduces RISKRISK by by increasing the amount of increasing the amount of KNOWLEDGEKNOWLEDGE about about

Industry Industry ProductsProducts CompetitionCompetition Customers Customers

Market ResearchMarket Research

The InterwebzThe Interwebz

Links on AddOptions.orgLinks on AddOptions.org Gmail Gmail Google ToolbarGoogle Toolbar

BookmarksBookmarks Spell Check Spell Check

Google TrendsGoogle Trends Google News AlertsGoogle News Alerts Google ScholarGoogle Scholar Docs & Spreadsheets Docs & Spreadsheets

TwitterTwitter Current eventsCurrent events NetworkingNetworking

TweetDeckTweetDeck Keyword trackingKeyword tracking

Research ProcessResearch Process

Create a Research JournalCreate a Research Journal What are you looking for?What are you looking for? What did you find?What did you find? Where did you find it?Where did you find it?

Google DocsGoogle Docs

Types of ResearchTypes of Research

TechnicalTechnical MarketingMarketing FinancialFinancial Human ResourceHuman Resource

TechnicalTechnical

Industry AssociationsIndustry Associations Trade ShowsTrade Shows DesignersDesigners ManufacturersManufacturers NewLaunches.com NewLaunches.com

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

Real or Fake Product?Real or Fake Product?

MarketingMarketing

The management process The management process

responsible for responsible for

identifying, anticipating and satisfying identifying, anticipating and satisfying

customer requirements profitably.customer requirements profitably.

(U.K. Institute of Marketing)(U.K. Institute of Marketing)

Primary QuestionsPrimary Questions

Who are my customers?Who are my customers? Where do they find my business?Where do they find my business?

Customer InformationCustomer Information

GeographicGeographic DemographicDemographic PsychographicPsychographic

What is the greatest predictive What is the greatest predictive demographic factor?demographic factor?

Information AnywhereInformation Anywhere

Finding Industry InformationFinding Industry Information Analysis of informationAnalysis of information SWOTSWOT

WebsiteWebsite Domain NameDomain Name

NamingNaming 10 Questions to ask when Naming a 10 Questions to ask when Naming a

product product

There are three levels of a product

1. Product or Service – What it is.

2. Features – What it has.

3. The Benefits – What does it do for my customer. Product

Features

Benefits

Product/Service VisionProduct/Service Vision

What are we selling?What are we selling?

Crossing the Chasm

2 1/2%Innovators

13 1/2%Early

adopters

34%Early

majority

34%Late

majority

16%Laggards

Time of adoption innovations

The Chasm

Primary Market Primary Market ResearchResearch

SurveysSurveys In PersonIn Person WebsiteWebsite

Marketing CampaignsMarketing Campaigns FlyersFlyers CouponsCoupons MailingsMailings

Customer InformationCustomer Information

SurveySurvey

QualitativeQualitative WordsWords SubjectiveSubjective

QuantitativeQuantitative NumbersNumbers

How many Surveys must you do?How many Surveys must you do?

LandmarkLandmark Benchmark Benchmark

Online Survey CompaniesOnline Survey Companies

ZapSurvey ZapSurvey SurveyMonkeySurveyMonkey Qualtrics Qualtrics

Google FormsGoogle Forms

Secondary Market Secondary Market ResearchResearch

DatabasesDatabases NewslettersNewsletters White PapersWhite Papers Press ReleasesPress Releases WebsitesWebsites Competitive IntelligenceCompetitive Intelligence

Financial ResearchFinancial Research

Start-up ExpensesStart-up Expenses Equipment PurchasingEquipment Purchasing Initial MarketingInitial Marketing

Operating ExpensesOperating Expenses RentsRents UtilitiesUtilities BudgetsBudgets

HR ResearchHR Research

Who is doing the work?Who is doing the work? What will they be paid?What will they be paid? Benefits offered?Benefits offered? Utah Employment InfoUtah Employment Info

Sources of Business Sources of Business InformationInformation

GovernmentGovernment AcademicsAcademics EntrepreneursEntrepreneurs Marketing / MediaMarketing / Media CustomersCustomers

Beware of Source BiasBeware of Source BiasExampleExampleJames Croft VideoJames Croft Video

Industrial ClassificationsIndustrial Classifications SICSIC

Standard Industrial ClassificationStandard Industrial Classification Browse or search SIC codesBrowse or search SIC codes

NAICSNAICS North American Industrial Classification SystemNorth American Industrial Classification System

International Classification SystemsInternational Classification Systems The United Nations Statistical DivisionThe United Nations Statistical Division International Standard Industrial Classification International Standard Industrial Classification

(ISIC)(ISIC) EU Classification System (NACE)EU Classification System (NACE) Global Industry Classification Standard (GICS)Global Industry Classification Standard (GICS)

GovernmentGovernment

Utah.govUtah.gov Business InformationBusiness Information

Firm Find Firm Find Pioneer OnlinePioneer Online Doing Business in Utah Workbook Doing Business in Utah Workbook

USA.govUSA.gov SEC EDGARSEC EDGAR corporate financial report corporate financial report

filings filings Publicly traded software companies in Utah.Publicly traded software companies in Utah.

AcademicsAcademics

LibrariesLibraries Research JournalsResearch Journals UVSCUVSC library library Pioneer OnlinePioneer Online

University PublicationsUniversity Publications Harvard Business ReviewHarvard Business Review BYU – Marriott MagazineBYU – Marriott Magazine

Shopping OnlineShopping Online

EntrepreneursEntrepreneurs

Why We BuyWhy We Buy The DipThe Dip Profit from the CoreProfit from the Core The E-Myth RevisitedThe E-Myth Revisited Love is the Killer AppLove is the Killer App Financial IntelligenceFinancial Intelligence Good To GreatGood To Great Rich Dad, Poor DadRich Dad, Poor Dad 7 Habits…7 Habits…

Demographic Demographic InformationInformation

Melissa DataMelissa Data

Real Estate SourcesReal Estate Sources Coldwell BankerColdwell Banker OnBoard, LLCOnBoard, LLC homefairhomefair

Utah CountyUtah County Salt Lake CountySalt Lake County

DemographicsDemographics

Nation MasterNation Master / / State MasterState Master

Internet Competitive Internet Competitive IntelligenceIntelligence

Download the followingDownload the following Google ToolbarGoogle Toolbar – toolbar.google.com – toolbar.google.com AlexaAlexa Toolbar Toolbar – download.alexa.com – download.alexa.com

Track your business and your Track your business and your competitorscompetitors

Industry Information & Industry Information & AnalysisAnalysis

Valuation ResourcesValuation Resources White papersWhite papers

Business White PapersBusiness White Papers

Special Interest OrganizationsSpecial Interest Organizations U.S. Religious Landscape SurveyU.S. Religious Landscape Survey

Market Research Firms Market Research Firms Harris InteractiveHarris Interactive

NewslettersNewsletters Gallup Polls Gallup Polls Polson EnterprisesPolson Enterprises

Market Research, New Product Development Market Research, New Product Development & Product Design Information Support from & Product Design Information Support from an Engineering Perspectivean Engineering Perspective

FindArticlesFindArticles

Look for research abstracts.Look for research abstracts. Beware of stringers.Beware of stringers.

International Market International Market AnalysisAnalysis

Translation toolsTranslation tools CIA World Fact bookCIA World Fact book Search Engine ColossusSearch Engine Colossus

Industry Information & Industry Information & Analysis Analysis

Hoovers.comHoovers.com – Company briefs – Company briefs available from available from UVSCUVSC library library

Dun & Bradstreet: email alerts about Dun & Bradstreet: email alerts about your customers, competitors or your customers, competitors or prospective customers.prospective customers.

ZapdataZapdata: free industry analyses, : free industry analyses, company lookups, and prospect listscompany lookups, and prospect lists

Marketing / MediaMarketing / Media

NewslettersNewsletters TelevisionTelevision

KSLKSL NewspapersNewspapers

Deseret NewsDeseret News Business MagazinesBusiness Magazines

Business ConnectBusiness Connect

Other resources at Other resources at AddOptions.orgAddOptions.org

Press Release Press Release

Free press release distribution at Free press release distribution at

Press-World.com and PRWeb.comPress-World.com and PRWeb.com

Viral MarketingViral Marketing

If you dig straight through the earth, If you dig straight through the earth, where will you come out at?where will you come out at?

They're Taking The Hobbits To They're Taking The Hobbits To Isengard Isengard

Will It Blend? Will It Blend?