Does anyone want it How to find out

Does anyone want it? How to find out if there is a market for your product Presented by a marketing expert who has helped to take hundreds of ideas successfully to market, this session focuses on what market information is available, where to find it and how to use it. Learn how to ‘plug the gaps’ in your knowledge and use information to drive your idea to success. Presented by Helen Murdoch, H M Marketing Ltd For further information visit www. hmmarketing. co. uk Copyright of this presentation belongs to Helen Murdoch, H M Marketing Ltd

What is Marketing? Finding out what people want and selling it to them at a profit. As often as possible! THE CUSTOMER IS ALL IMPORTANT

Bedrock questions 1. 2. 3. 4. 5. Who are our customers? Who are our competitors? Why do customers want what we have? What would make them prefer to buy from us? What is happening around us? Customers Competitors The Market

Bedrock questions 1. 2. 3. 4. 5. Helen’s Hot Tip Who are our customers? Who are our competitors? Approach your idea as if Why do customers want what we have? YOU are a customer What would make them prefer to buy from us? What is happening. YOU buy it? Would around us? Customers Competitors The Market

Where to start? • Desk or Secondary Research Homework!!! • Primary Research Hit the Road!

Market Reports: SOURCES OF INFORMATION Directories: Business Directories Euromonitor The Internet Libraries Newspapers, magazines, periodicals Catalogues Company Annual Reports

Market Reports: Directories: Business Directories Euromonitor Helen’s Hot Tip Libraries MAKE NOTESThe Internet and Newspapers, magazines, periodicals Keep a cuttings file or a scrapbook Catalogues Company Annual Reports

More Homework!!! Go Shopping • Touch and feel what is already on the market • How do people solve the problem now (without your product? )

More Homework!!! Go Shopping Helen’s Hot Tip • Touch and feel what is already on the CREATE market A Visual Album • How do people solve the problem now (without your product? )

Hit the Road!! - Ask people - Make phone calls - Visit competitors - Meet people QUESTIONNAIRES by post; in person; by telephone FOCUS GROUPS Ask the “unasked questions” PANEL DISCUSSIONS “Expert” views FACE-TO-FACE INTERVIEWS In-depth information

Hit the Road!! Helen’s Visit competitors Hot Tip - - Ask people - Make phone calls - Meet you want to • What EXACTLY do people know? QUESTIONNAIRES by post; in person; by telephone • WHO do you want to ask? FOCUS GROUPS • HOW best can you reach them? PANEL DISCUSSIONS Ask the “unasked questions” “Expert” views FACE-TO-FACE INTERVIEWS In-depth information

What to do with your findings… • Use the information you gather • Be prepared to adapt your idea • Include the results of your market research – show it shaped your idea • Include examples of questionnaires, comments from focus groups and statistics you have used.

What to do with your findings… • Use the information you gather Helen’s Hot Tip • Be prepared to adapt your idea USE YOUR RESEARCH • Include the results of your market research – show it shaped your idea TO STIMULATE YOUR • Include examples of questionnaires, comments CREATIVITY from focus groups and statistics you have used.

Helen’s Hot Tips • Approach your idea as if YOU are a customer – Would you buy it? • Make notes and keep a cuttings file or a scrapbook • Create a visual album • Answer these 3 key questions before you jump into your research: • What EXACTLY do you want to know? • WHO do you want to ask? • HOW best can you reach them? • Use your research to stimulate your creativity