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Knowing Your Market:
Andrew Scrogham and Anne Archer
28 February 2012
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By the end of the session you will have:
Acquired knowledge of the market research and news sources available at the Business & IP Centre Newcastle and beyond.
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Market research helps you to ascertain: • How much of a demand there is for your product or
service• Who the consumers are likely to be• What the competition is like • What similar products/services are available on the
market.• Whether it is a growth market
Why research a market?
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The process of acquiring information about customers in a market through field research or desk research.
Field research (Primary Research) involves collecting primary data by interviewing customers or completing questionnaires. Research Buyer’s Guide http://www.rbg.org.uk Cobra: a guide to using a market research
questionnaire
Market Research: a definition
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Desk research (Secondary Research) involves collecting secondary data by looking at information and statistics collected by others. Market reports Industry reports Trade association reports Official statistics Trade journals
Market Research: a definition
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What can we find in published market research?
Findings of field research Data: Quantitative & Qualitative Demographic information Product Data / New Products SWOT & PEST Analysis Data from other sources, e.g. Government & Trade
Associations Forecasts
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Keynote: Market research reports found at Newcastle Libraries
Over 2,000 market research reports Coverage of every major industry sector New/updated titles published every week Easy-to-use report format and intuitive website
http://www.keynote.co.uk
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Other Desk Research Tools Market Research reports: http://www.marketresearch.com
http://www.researchandmarkets.com Market Research how to articles and research findings:
http://www.marketresearchworld.net Trade Associations: http://www.taforum.org or
http://www.britishservices.co.uk/associations.htm Trade Magazines: http://www.tradepub.com Newstand (available through Newcastle Libraries 24 hour
library)
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Statistics:
Office of National Statistics: http://www.ons.gov.uk / http://www.statistics.gov.uk (Local statistics and demographics: http://www.neighbourhood.statistics.gov.uk )
European statistics (click on statistics under publications and documents) http://europa.eu/
Links to official world wide statistics websites / sources: http://www.offstats.auckland.ac.nz
Useful list of statistics websites provided by British Library: http://www.bl.uk/eresources/socsci/statistics.html
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Competitor analysis Corporate Researcher (available in Library) Keynote (available in Library) Thompson Business Pro (available in library) Company websites Online directories: Up My street, Yell.com, Scoot,
Businessmagnet Trade fairs / exhibitions Blogs and social networking sites
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Other resources available at BIPC Newcastle: COBRA (City Library access only) Business Opportunity Profiles Factsheets UK Market Synopses Local Area Profiles Business Legal Library Sources of Business information Events and Exhibitions
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IP Advice
Introductory advice
from BIPC team
Specialist advice from
solicitor and patent
attorney in residence
Practical advice from
an innovator in
residence
Business Advice
PNE, Science City,
RTC North
Finance/Tax
NEA2F and Tait
Walker
Marketing
RTC North PNE
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Other Business Libraries British Library BIPC - http://www.bl.uk/bipc/ Wealth of resources including industry guides and numerous
specialist and general databases
Business and Patent Information Service: Leeds Central Library - http://www.businessandpatents.org
Keynote, Cobra, Mintel
Business at The Mitchell Library: Glasgow:- http://www.glasgow.gov.uk/en/Business/BusinessMitchell/
Keynote, Cobra, Datamonitor, ABI/Inform, Mint UK and Mint Global
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Contacts
Business & IP Centre Newcastle website:
http://www.bipcnewcastle.co.uk
Newcastle City Library:
Tel: 0191 2774100