Marketing and Market Research Techniques
Market research is often neglected, avoided or misunderstood. When applied correctly, market research indicates current market trends, pinpoints deficiencies, explains customer resistance, guides marketing strategy, suggests marketing opportunities, facilitates business expansion and so much more.
Can you reach your customers and will they buy from you right now?
- First rule of thumb: Everyone is not your customer.
- Second rule of thumb: Know Your Customer.
In deciding on your target market(s), the intensity of your target market’s pain is a determining factor. Other key considerations: If a target market is a perfect fit for you, but you can’t make the sale, it’s useless. Go after a target market you can reach before your run out of cash. You also need to think about the value of the market. Is it large enough to be worth spending time getting to know or is it so small that you can’t recoup your costs? Is it shrinking so fast that it will be gone shortly? Could you make a profit selling to those customers or would your margins be razor thin? Ideally, the markets you target should be large and growing.
At the end of this course
You will learn:
- Key features of effective market research
- About different types of market research
- Successful segmenting, targeting and prospecting
- Validating customer surveys
- The Marketing Mix-it-up (4Ps and 4Cs)
- How to conduct market research to identify and assess an opportunity
- Learn how to effectively use social media tools and how to apply it to improve business results
Includes 1 swipe file and 6 video training sessions (4+ hours)