Download - Market Research Strategy & Resources
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Innovate CarolinaMay 2020
Market Research Strategy & Resources
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Where to start?
Source: iStock.com
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Market Research: Fundamentals
§ Why is it important?
§ What is the process?
§ Choosing the right resources
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What is Market Research?
Gathering, analyzing and interpreting information about§ markets, § products or services in that market, and § about customers/beneficiaries
Adapted from Entrepreneur.com
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What is Market Research?
Customers/beneficiaries: § characteristics, § spending habits, § location and § needs
Adapted from Entrepreneur.com
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Two Ways to Conduct Research
vs
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Two Ways to Conduct Research
original research involving surveys, interviews, focus groups, etc.
what has already been gathered, written, summarized, studied and published
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Why Market Research?
§ Helps determine if the product/service worth developing
§ May lead to funding to develop product/service and grow company
§ Positions the product/service appropriately
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Market Research Process
Research Question(s)
Select Resources
Collect Data
Analyze the Results
Apply Research/ Analysis
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Market Research Process
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Market Research Process
Research Question(s)
Select Resources
Collect Data
Analyze the Results
Apply Research/ Analysis
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Types of Resources
§ Government§ Associations & Research Centers§ Web Search Engines§ News Databases§ Market Research Report Providers
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Business subject page:https://guides.lib.unc.edu/go.php?c=23609022
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Market Research Report Providers
§ Market Size § Market Drivers§ Market Segmentation § Competitive Landscape
• Companies• Partners or Licensees• Supply Chain/distribution
Source: freepik
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Market Research Reports
§ Life Sciences & Technology
§ Industry Agnostic
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Market Research Reports
§ Life Sciences & Technology
§ Industry Agnostic
Source: Business Excellence
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Company Databases
- Search by keywords (products/services/industry)
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Business & Industry News
Search company names (your company or competing firms)
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Associations & Research Centers
§ Most industries have specialized associations/interest groups
§ Relevant, accurate, and timely data on niche industries
§ Data available to media and/or members
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Industry & Professional Associations
§ Digital Therapeutics Alliancehttps://www.dtxalliance.org
§ The Association for Addiction Professionalshttps://www.naadac.org/
§ National Waste & Recycling Associationhttps://wasterecycling.org/
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Demographic & Statistical Data
Where & how many Shifts & Trends What is the impact on my business?
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Demographic & Statistical Data
§ United Nations• http://unstats.un.org/unsd/demographic/default.htm• http://www.un.org/en/development/desa/population/
§ World Health Organization (WHO)• http://www.who.int/research/en/
§ World Bank:• http://www.worldbank.org/ & select “Data &
Research” from the top menu
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Demographic & Statistical Data
§ US Foreign Commercial Service Market Research Library: https://www.export.gov/Market-Intelligence (includes Country Commercial Guides)
§ World Trade Organization (WTO): • http://www.wto.org/
§ The CIA World Factbook• https://www.cia.gov/library/publications/the-world-
factbook
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Tuesdays | 1 pm – 4 pm (virtual)Fridays | 9 am – 12 pm
1789 Venture Lab173 E Franklin St
Market Research Office Hours
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INNOVATETogether. Innovate for all.CAROLINA
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STRATEGY
With a special focus on urgent challenges, innovations and innovators launched at Carolina, consistently apply important ideas for a better word.
Be a place where innovators thrive.
VISION
MISSION
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HOW WE CHAMPION INNOVATION
Office of Innovate Carolina Office of Commercialization and Economic Development
CATALYZE COMMERCIALIZE§ Strengthens the culture and practice of innovation and
entrepreneurship.
§ Leads the 200-member pan-university Innovate Carolina Network and the global network.
§ Develops strategy and leads task forces for the building blocks of innovation.
§ Collects, manages, reports and analyzes data.
§ Creates communications about innovation and entrepreneurship across campus.
§ Works on fundraising for IEED and for I&E projects within school and departments.
§ Manages all aspects of University IP.
§ Accelerates the pipeline of putting ideas into practical use and returning revenue to the University.
§ Assists startup ventures with mentorship, leadership formation, and securing space and funding.
§ Administers proof-of-concept grants and startup investment funds.
§ Structures partnerships that bring University research to market.
§ Helps faculty, students and staff manage, translate and commercialize inventions and technologies into licenses.
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At Carolina, we believe in the exponential power of our innovation ecosystem.
UNC