understanding market researchunderstanding market research introduction market size market...
TRANSCRIPT
![Page 1: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/1.jpg)
Understanding Market Research
Dr Preet Deep Singh
Invest India
May 12, 2020
![Page 2: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/2.jpg)
Introduction Market Size Market Penetration STP
Overview
1 Market Size
2 Market Penetration
3 Segmenting Targeting Positioning
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 3: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/3.jpg)
Introduction Market Size Market Penetration STP
Overview
1 Market Size
2 Market Penetration
3 Segmenting Targeting Positioning
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 4: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/4.jpg)
Introduction Market Size Market Penetration STP
Overview
1 Market Size
2 Market Penetration
3 Segmenting Targeting Positioning
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 5: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/5.jpg)
Introduction Market Size Market Penetration STP
What is it?
Total Number of People who Could buy theproduct1
1In some cases Customer and Consumer are differentDr Preet Deep Singh Invest India
Understanding Market Research
![Page 6: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/6.jpg)
Introduction Market Size Market Penetration STP
How to Estimate Market Size
Total Population
> Segment > Paying Ability > Reach... but can you address the entire group?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 7: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/7.jpg)
Introduction Market Size Market Penetration STP
How to Estimate Market Size
Total Population > Segment
> Paying Ability > Reach... but can you address the entire group?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 8: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/8.jpg)
Introduction Market Size Market Penetration STP
How to Estimate Market Size
Total Population > Segment > Paying Ability
> Reach... but can you address the entire group?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 9: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/9.jpg)
Introduction Market Size Market Penetration STP
How to Estimate Market Size
Total Population > Segment > Paying Ability > Reach
... but can you address the entire group?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 10: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/10.jpg)
Introduction Market Size Market Penetration STP
How to Estimate Market Size
Total Population > Segment > Paying Ability > Reach... but can you address the entire group?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 11: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/11.jpg)
Introduction Market Size Market Penetration STP
How to keep Estimates Real
Think for a Moment
Who can pay ?
Who would be interested?
Who needs your product?
Who is not with a competitor?
Who can afford?
Who can legally access it?
Who can access it geographically?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 12: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/12.jpg)
Introduction Market Size Market Penetration STP
What you should carry at the back of your mind. Source: Outlook India
What is the Market Size of Mutual Funds?
No One can address the entire market.
Figure: Source https://www.outlookindia.com/outlookmoney/mutual-funds/the-mutual-fund-industry-challenges-and-opportunities-ahead-4258
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 13: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/13.jpg)
Introduction Market Size Market Penetration STP
What you should carry at the back of your mind. Source: Outlook India
What is the Market Size of Mutual Funds?
No One can address the entire market.
Figure: Source https://www.outlookindia.com/outlookmoney/mutual-funds/the-mutual-fund-industry-challenges-and-opportunities-ahead-4258
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 14: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/14.jpg)
Introduction Market Size Market Penetration STP
What you should carry at the back of your mind. Source: Outlook India
What is the Market Size of Mutual Funds?
No One can address the entire market.
Figure: Source https://www.outlookindia.com/outlookmoney/mutual-funds/the-mutual-fund-industry-challenges-and-opportunities-ahead-4258
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 15: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/15.jpg)
Introduction Market Size Market Penetration STP
Segmenting
How do you cut the cake
Method 1
1 Geographic2 Psychographic3 Behavioural4 Demographic
Method 21 Retailers2 Wholesalers3 Consumers
Method 3: SEC A B C
Method n
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 16: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/16.jpg)
Introduction Market Size Market Penetration STP
Segmenting
How do you cut the cake
Method 11 Geographic2 Psychographic3 Behavioural4 Demographic
Method 21 Retailers2 Wholesalers3 Consumers
Method 3: SEC A B C
Method n
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 17: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/17.jpg)
Introduction Market Size Market Penetration STP
Segmenting
How do you cut the cake
Method 11 Geographic2 Psychographic3 Behavioural4 Demographic
Method 21 Retailers2 Wholesalers3 Consumers
Method 3: SEC A B C
Method n
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 18: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/18.jpg)
Introduction Market Size Market Penetration STP
Segmenting
How do you cut the cake
Method 11 Geographic2 Psychographic3 Behavioural4 Demographic
Method 21 Retailers2 Wholesalers3 Consumers
Method 3: SEC A B C
Method n
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 19: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/19.jpg)
Introduction Market Size Market Penetration STP
Segmenting
How do you cut the cake
Method 11 Geographic2 Psychographic3 Behavioural4 Demographic
Method 21 Retailers2 Wholesalers3 Consumers
Method 3: SEC A B C
Method n
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 20: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/20.jpg)
Introduction Market Size Market Penetration STP
Targeting
Where Do we Focus
Which slice of the cake is important?
Depends on the type ofproduct you have. B2B, B2C, B2G
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 21: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/21.jpg)
Introduction Market Size Market Penetration STP
Targeting
Where Do we Focus
Which slice of the cake is important? Depends on the type ofproduct you have.
B2B, B2C, B2G
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 22: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/22.jpg)
Introduction Market Size Market Penetration STP
Targeting
Where Do we Focus
Which slice of the cake is important? Depends on the type ofproduct you have. B2B, B2C, B2G
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 23: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/23.jpg)
Introduction Market Size Market Penetration STP
Positioning
What do you feel when
you touch an Apple Mac?
you hear about PVR Director’s Cut?
you are boarding a Japanese Train?
you have an old Nokia phone?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 24: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/24.jpg)
Introduction Market Size Market Penetration STP
Positioning
What do you feel when
you touch an Apple Mac?
you hear about PVR Director’s Cut?
you are boarding a Japanese Train?
you have an old Nokia phone?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 25: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/25.jpg)
Introduction Market Size Market Penetration STP
Positioning
What do you feel when
you touch an Apple Mac?
you hear about PVR Director’s Cut?
you are boarding a Japanese Train?
you have an old Nokia phone?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 26: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/26.jpg)
Introduction Market Size Market Penetration STP
Positioning
What do you feel when
you touch an Apple Mac?
you hear about PVR Director’s Cut?
you are boarding a Japanese Train?
you have an old Nokia phone?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 27: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/27.jpg)
Introduction Market Size Market Penetration STP
Positioning
What do you feel when
you touch an Apple Mac?
you hear about PVR Director’s Cut?
you are boarding a Japanese Train?
you have an old Nokia phone?
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 28: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/28.jpg)
Introduction Market Size Market Penetration STP
Positioning
The Positioning
Apple: Design
PVR Director’s Cut: Exclusive/Comfort
Japanese Train: Punctuality
Old Nokia phone: Reliability
The feeling the brand tries to evoke.
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 29: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/29.jpg)
Introduction Market Size Market Penetration STP
Positioning
The Positioning
Apple: Design
PVR Director’s Cut: Exclusive/Comfort
Japanese Train: Punctuality
Old Nokia phone: Reliability
The feeling the brand tries to evoke.
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 30: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/30.jpg)
Introduction Market Size Market Penetration STP
Positioning
The Positioning
Apple: Design
PVR Director’s Cut: Exclusive/Comfort
Japanese Train: Punctuality
Old Nokia phone: Reliability
The feeling the brand tries to evoke.
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 31: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/31.jpg)
Introduction Market Size Market Penetration STP
Positioning
The Positioning
Apple: Design
PVR Director’s Cut: Exclusive/Comfort
Japanese Train: Punctuality
Old Nokia phone: Reliability
The feeling the brand tries to evoke.
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 32: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/32.jpg)
Introduction Market Size Market Penetration STP
Positioning
The Positioning
Apple: Design
PVR Director’s Cut: Exclusive/Comfort
Japanese Train: Punctuality
Old Nokia phone: Reliability
The feeling the brand tries to evoke.
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 33: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/33.jpg)
Overview
Figure: A Wiki graphic representing Market Size related concepts.
![Page 34: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/34.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping a Startup that is putting Vehicle Inspections onBlockchain
Before an insurance is taken out
Done for 2 wheelers and 4 wheelers
Used at the time of claim
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 35: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/35.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment:
as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 36: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/36.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain:
Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 37: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/37.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 38: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/38.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target:
the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 39: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/39.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this:
Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 40: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/40.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 41: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/41.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning:
What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 42: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/42.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing?
Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 43: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/43.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 44: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/44.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size:
Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 45: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/45.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2
People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 46: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/46.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 47: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/47.jpg)
Introduction Market Size Market Penetration STP
Understanding with an Example
Helping them Build a Market Plan
Segment: as per value chain: Insurance company, inspectionagency, insured.
Target: the party who cares about this: Insurance company
Positioning: What is the most valuable thing? Reliability
Size: Mandatory for all Vehicles: 2 People who have a breakin insurance
Also understand that if it is mandatory for all, then fewerinsurances will lapse and this is a shrinking market size.
2See new Motor Vehicles ActDr Preet Deep Singh Invest India
Understanding Market Research
![Page 48: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/48.jpg)
Introduction Market Size Market Penetration STP
Sources of Data
Where can you get the data?
United Nations
RTI Data
Rajya Sabha / Lok Sabha Questions
Fortune, Forbes, Economist
Research Papers
MOSPI (Statistics and Project Implementation)
Annual Reports
Industry reports
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 49: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/49.jpg)
Introduction Market Size Market Penetration STP
Sources of Data
Till Next time
1 For any idea of yours, do a market size
2 Figure out the positioning of your 5 favorite products pause
@DrPreetDeep on Twitter;Book that deals with basics of entrepreneurship on Amazon. Ifyou like it, we can share it for free.
Dr Preet Deep Singh Invest India
Understanding Market Research
![Page 50: Understanding Market ResearchUnderstanding Market Research Introduction Market Size Market Penetration STP Understanding with an Example Helping them Build a Market Plan Segment: as](https://reader036.vdocuments.us/reader036/viewer/2022081418/5f0a0bda7e708231d429c122/html5/thumbnails/50.jpg)
Introduction Market Size Market Penetration STP
Sources of Data
Till Next time
1 For any idea of yours, do a market size
2 Figure out the positioning of your 5 favorite products pause
@DrPreetDeep on Twitter;Book that deals with basics of entrepreneurship on Amazon. Ifyou like it, we can share it for free.
Dr Preet Deep Singh Invest India
Understanding Market Research