Market Research Explained - eBook Edition
 
With detailed explanations and real-world examples, Market Research EXPLAINED is your go-to resource for navigating the complexities of market research and achieving business success.
 
Table of contents:
 
Introduction to Market Research
- Definition and Importance of Market Research
- Different Types of Market Research
 
Understanding Markets
- Understanding Customers
- Market Segmentation and Demographics
- Industry Valuation, Trends, and Flow
 
Primary and Secondary Market Research
- Comparing Primary vs Secondary Market Research
- Advantages and Limitations
 
Consumer and Business Market Research
- Difference between Consumer (B2C) and Business (B2B) Market Research
- Difference between B2C and B2B Buyer Personas
- Extending to B2B2C Market Research
- Examples of Both Types of Buyer Personas
 
Qualitative vs Quantitative Research
- Definitions and Comparisons
- When to Use Qualitative or Quantitative Research
- How to Analyze Qualitative Data
- Techniques for Analyzing Textual or Visual Data
- Software Tools Commonly Used in Qualitative Analysis
- How to Analyze Quantitative Data
- Statistical Techniques and Tools for Data Analysis
- Visualizing Data for Better Insights
 
Data Collection Methods
- Interviews and Depth Interviewing
- Surveys: Design and Implementation
- Experiments and Field Trials
- Observational Research
- Polls: Quick Feedback on Specific Questions
- Longitudinal Studies: Tracking Changes Over Time
- Case Studies: In-Depth Study of a Single Subject or Group
- Document and Record Review: Analyzing Existing Data Sources
 
Focus Groups
- When Do You Use Focus Groups?
- Planning and Recruiting Groups
- Areas Of Special Consideration
- Moderating Focus Groups
- Analyzing Focus Group Data
- Common Challenges and Solutions
 
The Buyer Persona
- What is a Buyer Persona?
- Why are Buyer Personas Important in Marketing?
- Key Characteristics of an Effective Buyer Persona
- Different Types of Buyer Personas
- Bargain Hunter
- Innovator
- Loyalist
- Eco-Conscious Shopper
- Practical Purchaser
- Quality Seeker
- Indecisive Customer
- How to Create Buyer Personas
- Buyer Persona Template
- What is a negative buyer persona?
 
Analytical Frameworks
- SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats
- Competitor Analysis: Identifying and Analyzing Key Competitors
- VRIO Framework: Value, Rarity, Imitability, Organization
- PESTLE Analysis: Political, Economic, Social, Technological, Environmental, Legal
- Porter’s Five Forces Analysis
- BCG Matrix: Portfolio Management
- Ansoff Matrix: Market Development Strategy
- Balanced Scorecard: Performance Measurement
- Value Chain Analysis: Inbound Logistics, Operations, Outbound Logistics, Marketing and Sales, Service
- Blue Ocean Strategy: Creating New Market Space
 
SEO Research
- What is keyword research?
- Why is keyword research important?
- Tools that you should test
- Google Analytics
- SEMrush
- Ahrefs
- Google Keyword Planner
- Advanced Keyword Research Techniques
- Long-Tail Keywords
- Competitor Keyword Analysis
 
The Business Model Canvas
- Overview of the Key Building Blocks
- Detailed Exploration of Each Component:
- Customer Segments
- Value Proposition
- Channels
- Customer Relationships
- Revenue Streams
- Key Resources
- Key Activities
- Key Partnerships
- Cost Structure
 
Product Development and Innovation
- What is a Minimum Viable Product (MVP)?
- Defining Your MVP
- Low-Fidelity MVPs
- Concept MVPs: Explaining the Product Idea without a Functional Model
- Mock-up MVPs: Visual or Diagrammatic Representations of the Product
- Explainer Video MVPs: Using Video to Gauge Interest and Explain the Product
- Landing Page MVPs: Testing Market Interest through Pre-Launch Sign-ups
- High-Fidelity MVPs
- Single-Feature MVPs: Focusing on One Core Functionality
- Prototype MVPs: A Working Model with Limited Features for Early Feedback
- Piecemeal MVPs: Combining Existing Tools and Services to Create a Functional Product
- Wizard of Oz MVPs: Creating the Illusion of a Functional Product Behind the Scenes
- Examples of Successful MVPs
- Scaling from MVP to Full Product
 
Using Market Research Strategically
- Optimizing Pricing Strategies through Market Research
- Using Market Research to Enter New Markets
- Leveraging Market Research for New Product/Service Launch
- Enhancing Customer Satisfaction through Market Research
 
Total Addressable Market (TAM): Defining and Calculating
- Overview and Definition
- Methods for Calculating TAM
- Top-Down
- Bottom-Up
- Value Theory
- Referring to External Research
 
Serviceable Available Market (SAM): Identification and Strategies
- Overview and Definition
- Methods for Calculating SAM
- Market Segmentation Analysis
- Geographic and Demographic Analysis
- Customer Needs and Usage Patterns
- Strategies for Targeting SAM
- Product Differentiation Strategy
- Market Segmentation Strategy
- Competitive Analysis and Positioning
 
Serviceable Obtainable Market (SOM): Estimation and Utilization
- Overview and Definition
- Methods for Estimating SOM
- Conversion Rate Analysis
- Sales and Distribution Capacity Analysis
- Competitor Market Share Analysis
- Strategies for Capturing SOM
- Strategic Partnerships and Alliances
- Sales Channel Development
- Customer Retention Programs
 
Demand Forecasting: Predicting Market Demand
- Expert Opinion and Delphi Method
- Time Series Analysis (Trend Analysis, Seasonal Analysis)
- ARIMA Models (AutoRegressive Integrated Moving Average)
- Econometric Modeling (incorporating external variables)
- Bass Diffusion Model (for products with no historical data)
 
Value Chain Analysis
- Key Components of the Value Chain
- Conducting a Value Chain Analysis
- Identifying Value Creation
- Optimizing the Value Chain
- Integrating Value Chain Analysis with Strategic Planning
 
Pricing Models & Strategies
- Why it’s crucial to get the price right
- Understanding price sensitivity through conjoint analysis
- What is a Pricing Matrix?
- Value-Based Pricing
- Competitive Pricing
- Penetration Pricing
- Dynamic Pricing
- Geographic Pricing
- Cost-Plus Pricing
- Bundle Pricing
- How to the right pricing model for your business?
 
Market Research Key Performance Indicators (KPIs)
- Leading vs. lagging indicators in market research
- Response Rates
- Survey Completion Rates
- Net Promoter Score (NPS)
- Margin of Error
- Sample Homogeneity
- Time to Insight
- Cost Per Insight
- Return on Research Investment (RORI)
- Setting Smart KPIs