D-I-Y Market Research

1. Synopsis: You have a great product! Who’s going to buy it? “Everybody” isn’t the right answer. Knowing the market for your product or service is a key to a thriving business. Finding that information used to be very difficult, but with all of the new on-line tools and data sites, finding where your customers are is easy. This class walks you through the concepts of market research, target markets, and your “ideal” customer or client. Then we’ll go on-line to find resources to help you discover where those customers are. Bring your laptop so you can bookmark all of the sites where important information can be found to help your business grow!

2. What is Market Research?

3. The Bull’s Eye of marketing
A. Your “ideal” customer isn’t everybody
B. The target isn’t stationary

4. The Competition isn’t who, it’s what
A. Know the competition
B. It’s not Wal-Mart

5. Know what you need to know
A. What do you know already?
B. What do you need to find out?

6. Sources of Information
A. It’s all on-line
i. Census data
ii. Industry data
iii. News reports

7. Using the Data
A. Creating a Marketing Plan
i. Is your “ideal” customer close by?
ii. How do they buy things?
iii. Will they buy YOUR product?
iv. Will You need help?

8. Summary and Evaluation

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