Researching Your Market

Description

You may need to take your business to the next level to increase your market share and apply for government funding to inject into your business?

Well you are in the right place…

Any business needs to understand its customers and the market in which it operates.

This is achieved through researching the market and analysing the findings as objectively as possible.

Market research can be used to define or refine the business USPs and to gain insight into customer views on a variety of aspects of the business.
In this course delegates should use market research to help refine their business ideas.

Delegates will learn how to plan cost-effective market research to meet the needs of a micro start-up business or social enterprise.

They will study different methods of primary research and how to use secondary research.

Delegates will go on to consider different methods of analysing their findings using both numerical techniques and specialist marketing techniques, as appropriate.

Finally, delegates will learn how to draw conclusions from their analysis and integrate these decisions into a business plan.

Outcome of session

Outcomes will include:

• Be able to carry out market research eg observations: unobtrusiveness, permissions, note taking; questionnaire and telephone survey
• Design purpose, type of response, question types, question order, in-built bias
• Collection of data on website activity: clear purpose, selection of websites, use of web-counters; focus groups: choice of attendees, encouraging rapport, recording findings
• Be able to analyse and interpret data about a market
• Numerical analytical techniques: eg tally charts; percentages; pie chart; bar graph
• Analysis by demographic variable, eg age, gender; analysis by social variable, eg class; analysis by geography, eg county, neighbourhood; business markets analysis: size, industry
• Selection of method of analysis which links with research questions
• Gain a course completion certificate
• Count towards CPD