1. Market Research for Entrepreneurs Presented May 13, 2014 in Phoenix, AZ by Mark Goldstein, International Research Center PO Box 825, Tempe, AZ 85280-0825, Phone: 602-470-0389 markg@researchedge.com, URL: http://www.researchedge.com/ 2014 - International Research Center

2. What is Market Research? Why Do Market Research? What Do We Know Already? What Do We Need to Know and Who Knows It? Industry Information: Associations, Publications, Market Research Reports, Statistics, and Government Sources Market Ecosystem, Market Segmenting and Sizing, Target Markets, Demographics, Advertising, and Trends Pulling It All Together, Actionable Intelligence Market Research and Analysis 3. Market Research Definition: The systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services. American Marketing Association (AMA) Two main types of Market Research: Primary Research - Company or its representatives are involved in the actual data-gathering process such as distributing questionnaires, telephone or mail surveys, interviews, etc. Secondary Research - Involves the use of existing data that has already been created and/or compiled by someone else and is available in published form. What is Market Research? 4. Start-up Phase Establish key elements of your business and/or marketing plan Identify your target audience Study market characteristics Select the best location for your business Identify branding and marketing opportunities Engage the financial community and potential investors Expansion Phase Re-evaluate your customers changing needs Measure advertising efficiency Identify new markets and new opportunities Stay abreast of new developments and trends in your industry Detect and respond to emerging opportunities and threats Why Do Market Research? 5. Market Research Tag Cloud Source: Digital Research, Inc. (http://www.digitalresearch.com/) 6. ABUNDANCE INFORMATION Source: Marketo 7. Market Research and Business Intelligence are not (just) about what competitors and markets are doing. Marketing tracks it all the time Management is well briefed on it News clipping and monitoring largely serves the need Its about what competitors and markets will be doing. You must predict their likely strategies and moves. How will customers and end-users evolve and change? What will competitors be doing to your customers? What will suppliers be doing to your distribution and value chain? What will alternative technologies change the rules of the game? What will new entrants and acquisitions do to your industry. 8. Source: Dresner Advisory Services, 5/13 9. Business Intelligence User Methodology Source: GartnerGroup 10. The Building Blocks of Knowledge Source: Coveo 2013 11. Access Needs Vary by User Responsibility Source: The Yankee Group, September 2001 12. Categories of Business Information Open source or public information Product, investor and public relations literature Open (unclassified) electronic information (i.e. Internet & Usenet) Popular & technical journals (hard copy or database) Grey literature produced in limited quantities for limited purposes Open proprietary information Legally conducted competitor intelligence Reverse engineering of legitimately acquired products Closed proprietary information Industrial espionage or penetration of regulatory agencies Classified information Clandestine human or technical intelligence 13. What Intelligence Can Be Obtained Legally and Ethically? NewNew LegislationLegislation NewNew MarketsMarkets MarketplaceMarketplace ChangesChanges CompetitorCompetitor ActionsActions NewNew TechnologyTechnology NewNew CompetitorsCompetitors 80%-90% of all80%-90% of all information isinformation is public knowledgepublic knowledge Source: SCIP 14. Sales monitors customer response and competitors in the field Market research monitors consumer trends and demographics R&D monitors technology and science Finance monitors the investment community and M&A activity Purchasing monitors suppliers moves Everyone follows the company and industry news Internal Sources Track and Know Pieces of the Puzzle 15. Comparison of Web-Based Information Resources Source: DM Review 06/99 16. Information & Support Resources for Secondary Market Research Market Research Analysts and Reports Press Releases Industry Trade Magazines Trade Shows and Conferences Professional and Trade Associations Hierarchical Directory Sites Affinity, Community, and Resource Sites Topical Mailing Lists and Social Media 2014 - International Research Center 17. Professional & Industry Associations Trade Publishers Regulatory, Compliance, & Market Trends Telecom Providers & Other Adopters Publications Subsc ribers Vertical Portals White Papers & Webinars Standards Members & Thought Leaders Source: International Research Center 6/08 (http://www.researchedge.com/) Conferences Online Communities Network Infrastructure & Services End Users Social Media, Blogs & UGC Network Infrastructure Vendors IT/Telecom Consulting Firms IT/Telecom Analyst Firms Publications Discussion Lists Conferences Component Manufacturers General & Business Press IT Book Authors & Trainers The Network Infrastructure Influencer Universe 18. Source: ESOMAR Global Market Research 2013 http://www.esomar.org/web/research_papers/book.php?id=2492 19. Internet Searching Growth in Internet users and sites continues unabated Even the best search engines index only a modest fraction of the open/free web, multiple search engines a little better Much content is sequestered from general searching Stuff just too obscure to find Content deep within sites, foreign country based Sites and pages come and go quickly - link rot Content & pages marked for robot exclusion Dynamically created content and page views Content behind passwords & gateways for subscribers Proprietary Intranet and Extranet sources Mixed-model search engines are arising integrating licensed content with open/free web hits, but learning and using the Invisible Web is essential to good searching strategies. 20. What Can Be Learned from a Company Web Site Product announcements and pre-announcements Executive changes Facilities openings and closings Lawsuits and court rulings Job openings Suppliers and subcontractors Key customers Prices and price structure Financial results Mergers, acquisitions and strategic alliances Customer Feedback Strategy statements Source: T.W. Powell Co. 21. Google Advanced Search http://www.google.com/advanced_search 22. https://archive.org/ https://archive.org/advancedsearch.php 23. Magazine & Periodical Sources Publishers sites may allow searching across all of their sources Niche and vertical portals may carry licensed content streams Numerous alert services summarize topical stories and point you back to a multitude of sources Some are topically-based while others allow user profiles Topical blogs highlight breaking stories and news Hundreds of Internet resource lists point to online publication sites 24. Press Releases Business Wire and PR Newswire still rule Alternative distribution services are arising May be an opt-in model with limited coverage MediaMap & Internet Wire up-and-comers May primarily reach online or niche publishers Searching is more difficult unless you know who a target company uses to distribute their releases through. Check the companys web site for current and archived releases.. Rely on media searches to gauge reach and impact 25. http://catalog.phoenixpubliclibrary.org/search/misc/esources.aspx 26. http://bi.galegroup.com/essentials/?userGroupName=phoenixpl 27. http://www.referenceusa.com/ 28. http://www.bizjournals.com/ 29. http://www.llrx.com/features/busintellguide2014.htm 30. http://directory.esomar.org/ 31. http://www.claritas.com/sitereports/demographic-reports.jsp 32. http://www.greenbookblog.org/2013/09/26/the-honomichl-top-50-esomar-global-25-the-need-to-re-define-market-research/ 33. Source: Coveo 2013 Knowledge Extraction from Enterprise Data 34. Source: Coveo 2013 35. Source: Dresner Advisory Services, 5/13 36. Reasons for Success with Business Intelligence Source: Dresner Advisory Services, 5/13 37. Why Business Intelligence Fails Source: Dresner Advisory Services, 5/13 38. Social Media Tag Cloud Source: Green Book Blog (http://www.greenbookblog.org/) 39. Source: March 12, 2010, Defining Social Intelligence Forrester report Social Intelligence serves many roles 40. http://socialmediatoday.com/pamdyer/1458746/50-top-tools-social-media-monitoring-analytics-and-management-2013 41. http://hootsuite.com/ 42. Green Book Research Industry Trends Report 2013 43. http://www.massinvestor.com/rm_vc.htm 44. http://www.caycon.com/arizona-venture-capital.php 45. Crowdfunding involves obtaining funds for ones projects from a multitude of people who pledge or contribute a small amount in order to attain a certain return on their investment, which may be some level of equity in a project. The dilemma right now for equity crowdfunding in the USA is SEC regulation of the entire process and venture capital investors potential issues with follow on funding for crowdfunded startups. You can find an enormous repository of information on all forms of crowdsourcing at http://www.crowdsourcing.org/, including crowdfunding at http://www.crowdsourcing.org/community/crowdfunding/7. Small Business and Entrepreneurship Council: Crowdfunding & Capital Access - http://www.sbecouncil.org/resources/crowdfunding/ Kickstarter - http://www.kickstarter.com/ Indiegogo - http://www.indiegogo.com/ fundable.com- http://www.fundable.com/ getfunded.org- http://getfunded.org/ 46. Emerging Technologies Hype Cycle Source: Gartner 8/13 47. InternationalInternational Research CenterResearch Center Your Research EdgeYour Research Edge 2014 - International Research Center Presented by Mark Goldstein, International Research Center PO Box 825, Tempe, AZ 85280-0825, Phone: 602-470-0389, markg@researchedge.com, URL: http://www.researchedge.com/