About Workshop
Introduction
Learn how to use market research to determine your company's competitive position and enhance its performance. By getting it right, you can save time and resources and begin to reap the benefits of your research right away. At this workshop, you'll discover a broad range of market research tools-including questionnaire design, focus groups, observational research, testing/sampling results, statistical analysis-that will give you the insights you need to identify opportunities and threats in your industry...formulate short- and long-term strategies...design new products and services.
How participants will benefit from the course:
Upon completion of this workshop, participants are expected to:
1. Gain research techniques that work and know when to use them
2. Focus on the products and services that your customers really demand
3. Determine current customer behavior and predict future trends
4. Identify which market research activities are most conducive to your objectives
5. Create a custom market research program for your company
6. Avoid common mistakes
7. Conduct competitive market research and monitor performance
Workshop topics to be covered:
1. Organizing Market Research Activities
- Define Market Research Objectives before Beginning Your Research Program
- Write Objectives for a Potential Market Research Project at Your Company
- Focus Your Research Activities on Identifying Customers’ Purchasing Processes
- Understand and Manage Common Trade-offs That Must Be Made among Objectives Due to Budget and Time Constraints
2. Tools for Conducting Market Research
- Appropriately Apply Qualitative and Quantitative Approaches to Market Research Endeavors
- Identify and Access Both Primary and Secondary Sources of Data Collection
- Evaluate the Advantages and Disadvantages of Data Collection Techniques
- Determine the Most Effective Research Approach for a Specific Research Project
3. Core Elements for Developing an Effective Questionnaire
- Design Questionnaires to Capture High Value Data
- Write Effective Open/Closed Ended, Direct/Indirect, and Multiple Choice Questions
- Use Rating Scales to Validate Questionnaire Results
- Format Questionnaires to Increase Response Rates
4. Analyzing the Data: What Does It Mean?
- Describe the Primary Objectives of Basic, Intermediate, and Advanced Marketing Research
- Identify Which Techniques Most Appropriately Match Basic, Intermediate, and Advanced Research Objectives
- Use the Product/Service Matrix to Determine a Company’s Competitive Position in the Marketplace
- Use the Price/Value Matrix to Determine How Customers View a Product’s Price in Relation to the Value Received
- Use the Competitive Pricing Matrix to Determine the Strength of Your Company’s Market Position
5. The Continued Success of Your Market Research Program
- Link Market Research to Overall Corporate Goals
- Align Product and Service Offerings to Match Customers’ Value Pyramids
- Enhance Success of New Products and Services
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