How to conduct market research in startups and small firms?
4.1 (316 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,067 students enrolled

How to conduct market research in startups and small firms?

A-Z guide how to conduct market research, analyse your competitors as well as customers
4.1 (316 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,067 students enrolled
Created by Asen Gyczew
Last updated 6/2020
English
English [Auto]
Current price: $62.99 Original price: $89.99 Discount: 30% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 5 hours on-demand video
  • 2 articles
  • 34 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Spy on your competitors
  • Estimate the size of the market and value of customers
  • Draw conclusion on the structure of the market
  • Find ideas how to develop your business
  • Validate your ideas for new business using market data
Requirements
  • Excel midlevel
Description

Many business mistakes are made due to insufficient market research. That's why I created for you this hands-on course so that you can see how with virtually no money you can research many important to you aspects like the size of the market or a particular segment, the sales tactics of competitors, customer preferences etc. .

I will show you 3 groups of market research methods:

  • Consulting methods
  • On-line methods
  • Off-line methods

Since we want you to be able to do market research on your own there will be very little theory and loads of nice examples in many fields. You will master the market research in fields such as: retail, fast moving consumer goods, food sector, on-line businesses, services and some off-line businesses. This training will be especially beneficial for small business owners, startup, and consultants. You will learn what mystery shopping, store-checks is, bottom-up , top-down approach and others.

You will be able also to download many additional resources

  • Links to free presentation and movies showing examples of research
  • Links to books worth reading
  • Excels with calculations showing you how you can do the market research as well as analyses and draw conclusions

We will use the following tools:

  • Excel
  • SimiarWeb
  • Keywords Planner by Google
  • Facebook Audience Insight
  • Facebook
  • Mobile market applications
  • Slideshare
  • Youtube
  • Our own tools / formats

We will be gradually increasing the price of the course from 9 USD so buy this course now to save money and implement fast proposed techniques to become more efficient

Who this course is for:
  • Analyst
  • Researchers
  • Small business manangers
  • Startupers
Course content
Expand all 86 lectures 06:11:32
+ Introduction to the course
4 lectures 06:41

I will show you here what you can expect from the course and what is my experience in market research.

Preview 01:41

Here I will introduce myself and show you in short what is my experience. For more Go to:

Linkedin: https://www.linkedin.com/in/asen-gyczew-b343191

Quora:https://www.quora.com/profile/Asen-Gyczew

Slideshare: http://www.slideshare.net/AsenGyczew

Preview 01:51

Here I will show you what to do if a blurry image appears

How to deal with Blurry image
02:04

Here I will show you how to find additional resources attached to the coruse like Excel files, presentations, links etc.

How to reach additional resources
01:05
+ Introduction and consulting methods
9 lectures 28:01

We start with a short introduction to the 3 groups of methods we will cover in this section: consulting, on-line and off-line

Preview 04:16

In this lecture you will get to know our favorite method for first rough estimation – the bottom-up method. We give you also 2 examples with Excel calculation how to use it.

Preview 07:53

Now let's see how you can use in practice the bottom up approach to estimate the size of the market. We will have a look at an interesting case study

Using bottom-up approach in practice
00:41

In this section I will do I little bit faster another case using the framework introduced in the previous section

Introduction to the ceramic tiles case
01:00

Here I present you the case. You will be asked to estimate the market for ceramic tiles 

Ceramic tile market - case to be solved
01:29

In this lecture I will show you the logical structure to the case presented in the previous lecture

Ceramic tile market - solution
03:13

Once you are done with the logical structure you should build the analysis in Excel on the basis of it

Ceramic tile market - solution in Excel
04:35

The data you have gathered will be used in your business analysis. You can also fill in the slides prepared in the very beginning and modify it if needed

Ceramic tile market - Presentation in Power Point
01:09

Top-down is the little brother of bottom-up approach – not used that often but still very useful for resegmenting the market (niche an low cost strategy)

Top-down approach
03:45
+ Market research - off-line methods
5 lectures 29:43

Reality still bites. Here you will be given short overview of the off-line research methods with suggestion what to be used when

Off-line research introduction
01:49

In this lecture we show you how to conduct the off-line interviews, how to draw conclusions out of it and where to find respondents

Off-line interviews
14:19

In this lecture we show you how to map and read the daily life of your customer and how it can help your marketing efforts

Being where your customer is
03:17

Store Check come in handy whenever you are talking about B2C physical products, services and retail. This methods gives you solid facts on which you can build your business

Preview 07:09

Service level is time and again your opportunity to disrupt markets. Therefore, check on your own the customer experience with mystery shopping

Mystery shopping
03:09
+ Market research on-line methods
21 lectures 01:02:38

On-line research is cheap and insightful. We will go through all nice methods how to get to know the market, customer and competitors

On-line research introduction
01:00

Facebook Audience Insight is the perfect tool to check different segments without the necessity to do any interviews. For first estimation it is the perfect tool

Facebook Audience Insight
05:48

Facebook allows you to have a look at social profiles of your potential customers. If you want to understand them better have a look at this as well

Customer profiles on facebook
01:58

You want to know what do your competitors do? Where they get the traffic from? Check this lecture on SimilarWeb.

Preview 06:41

Google is so nice to tell you through search results where is the market. Use the Keyword Planner to see whether you are able to make money on your ideas and how much you have to spend to get the trafffic

Keyword Planner by Google
04:44

Google is nice but Youtube and Slideshare are the places to go if you look for more advance info faster. Check this lecture to know what to use when.

Slideshare and Youtube
02:22

Mobile is the new black ;). Even if you are not into mobile applications check the markets for applications to see what are the worries of people and what they like

Markets for mobile applications
01:52

One of the sources is the World Band database. Here I will show you what you can find there

World Bank Open Data – General remarks
01:32

One of the sources is the World Band database. Here I will show you how to use it

World Bank Open Data – How to use it
02:47

Euromonitor has a lot of detailed data European markets that shows you in a lot of details the structure of many markets.

Euromonitor
02:38

One of the source of the general data is trading Economics


Trading Economics
02:52

If you want to research a market using online searches one of the most interesting sources is Ubersuggest. Here I will show you how to use it and what kind of data it has.

Ubersuggest
02:40

In many cases you will have to do not only store checks in physical stores but also in online stores. We will discuss this subject in this lecture.Before going deeper into this lecture I would recommend revising the lecture on offline store-checks. In the online store checks you can compare different types of stores:

  1. Compare different offline stores

  2. Compare different online stores

  3. Compare offline to online for the same brand

  4. Compare offline to online for different brands

We will discuss this in this lecture in more details. Later on we will have a case study devoted to online store-checks

Online Storechecks – Introduction
03:51

During online store-check you most likely will be gathering the following information:

  • Name, photos of the product & assigned categories

  • Prices of specific products

  • Available quantity

  • # of reviews

  • Rules for organizing data on the webpage

  • Rules for presenting data

  • Additional information on the availability in offline stores

  • Discounts on the product

We will discuss this subject in more details in this lecture

Online store-checks – What information you gather
03:02

Let’s see how you can use the online store-checks to analyze the market. This time around we will do a store-check for cosmetics

Online Storechecks – Cosmetics – Case Introduction
01:00

In this lecture we look at the data on cosmetics producers and their products that we will need for this case study

Online Storechecks – Cosmetics – Available Data
02:09

In this lecture we solve the case study on onlie storecheck

Online Storechecks – Cosmetics – Analysis by Brands
03:28

In this lecture we solve the case study on onlie storecheck

Online Storechecks – Cosmetics – Analysis by Applications
02:53

In this lecture we solve the case study on onlie storecheck

Online Storechecks – Cosmetics – Analysis by Size & Customer Group
03:28

Crunchbase is a great source of information on the startup world. They gather information on all investments in the startup world. You can do there research by following criteria:

  • Company Name

  • Industry

  • Location

  • Funding

  • # of employees

We will discuss this in this lecture

Crunchbase – Introduction
02:12

Now let's apply crunchbase to research a drone industry and a company called DocPlanner that acts as a marketplace for booking visits with doctors

Crunchbase – Case Study
03:41
+ Using Customer reviews
9 lectures 22:49

The information from customers is extremely important. Nowadays we have plenty of sites that gather customers reviews. We will discuss how you can use them in market research. Below a short summary of what you can learn from sites with review

Using Customer reviews – Introduction
02:16

In this lecture we will discuss where you can find customer reviews for:

  • Consumer Goods

  • SaaS Products

  • Restaurants / Hotels

  • Local Services

Using customer reviews – Source
01:46

Let's see how we can use Capterra for researching the customer reviews

Using Customer reviews – Capterra Example
01:50

Imagine that you were hired by a firm to analyze the emailing software market and to tell them whether there is a niche for them to create a new product. Use the customer reviews

Using Customer reviews – Case Introduction
01:19

Let's see at the data that we have for the case study that we will be solving

Using Customer reviews – Available Data
03:21

In this lecture we will be solving the case study introduced in the previous lectures

Using Customer reviews – Analysis by Industry & Size of Firm
03:09

In this lecture we will be solving the case study introduced in the previous lectures

Using Customer reviews – Customer Segment Size
03:02

One of the ways to understand the market and competitors is to try and compare products especially from different firms. You can do that using comparison tools / sites

Sites for comparing products – Introduction
02:50

Let's see how we can compare products using GetApp website adn what kind of conclusions we can draw out of this

Sites for comparing products – GetApp Example
03:16
+ Other useful sources of information
6 lectures 17:35

In this lecture I will discuss what kind of the information and where you can find from official resources.

Gathering official data – Introduction
02:41

Publicly quoted firms want to communicate with investors. Therefore, they provide a lot of data. I will show you an example of what kind of data you can find from official sources of information from Disney

Investor Relations example – Disney
02:19

Publicly quoted firms want to communicate with investors. Therefore, they provide a lot of data. I will show you an example of what kind of data you can find from official sources of information from LPP – a big fashion group in Easter Europe (similar to the Inditex – the owner of Zara)

Investor Relations example – LPP
02:46

In this lecture I will show you where you can find some useful financial data

Where you can find financial data on the companies
02:25

In this lecture I will show you how you can find what is the strategy of the competitors of the Target Company you are analyzing. This is extremely important part of the competitors analysis

How to figure out the strategy of other companies?
02:31

Here I will show you professional methods of consumer research that you may consider for bigger projects, businesses


Introduction to Consumer Research
04:53
+ How to identify and undrestand trends?
7 lectures 23:52

In this section I will talk about how trends influence your research

Introduction into trends
02:49

Google Trends is an excellent tool to check whether certain keyword is on a rise or not. Thanks to this tool you can check what are the trends by countries and media.

Google Trends
06:34

Google Public Data enables you to browse publicly available data from 1 place. You get access espiecially to macrodata. Here we show how to use the Google Public Data to check what are the trends on your main drivers

Google Public Data
03:31

Trend Economy similar to Google Public Data gives you access to publicly available, mainly maco data.

Trendy Economy - public data
01:32

Statista is great source of information on many markets. They gather data from other sources and analyze them

Statista
02:50

Important part of the trends analysis is talking to experts. I will discuss in lecture how to do it.

How to talk with experts?
03:41

It’s not easy to find experts. In this lecture I will show you some sources that you can use

Where to find experts?
02:55
+ Case study restaurant - how to find the right location for a restaurant?
8 lectures 24:00
Introduction to the case study
00:29

You have to find the right location, spot for your concept. It is not easy yet it has huge impact on your success. Without the proper location even the best concept will have at best mediocre results. The perfect location is the one that brings you a lot of potential customers from your target group. There are plenty of nice techniques that you can apply to make sure that the location is good. I will show you in this section step by step how you can pick the right selection and check what kind of profits it can bring you 

Introduction to analyzing locations for future restaurants
01:22

Storechecks are very useful also for checking specific locations. You can check whether specific district is good for specific type of cuisine or type of restaurant. I will show you here on some examples how it can be done

Storechecks - how to use them to check specific location?
04:25

Google Maps is another great tool for checking whether specific location is good. I will show you here on the basis of an example how you should define the so called catchment area and how to measure the level of competition using Google Maps

Google Maps - how to use them to check specific location?
06:57

On-demand marketplaces are aggregating offers from different restaurants from different areas therefore you can use their search module to measure the level  of competition and to see what tactics other apply to sell on-line food.

On-demand marketplaces - how to use them to check specific location?
02:53

Keyword Planner can be also used with great success to check whether certain restaurant concept makes sense in a specific district. It provides you estimation of number of searches (people interested) and also estimation of your marketing budget

Keyword Planner - how to use them to check specific location?
02:48

Review sites like Yelp and TripAdvisor are powerful tools that can be used to check specific location espiecially when it comes to number of specific restaurants as well as their strength measured via reviews (number of reviews and their average score)

Review sites - how to use them to check specific location?
05:06
Slides from the course
71 pages
+ Case Study Restaurant - What concept should you choose?
8 lectures 43:28

Concept is the type of restaurant you are running with all the implications in terms of the business mode. The concept includes: service level, type of cuisine you are serving, pricing, look &feels, purchasing reasons and habits of customers, capacity and size. We discuss in general why it is  important to choose the right concept what I actually means

Introduction to choosing the right concept
04:30

Using the store-check you can learn a lot about specific business: who is coming to the restaurant, what they are ordering, how long they are staying, etc. You can also estimate whether the restaurant is profitable or not. I will show you step by step how to perform store check and how to interpret the data you have gathered from it

How to use storecheck to analyze restaurants?
07:39

Here I will show you how to use the franchising concept database to research the concept you are interested in

Franchising databases - how to use it to analyze restaurant concepts
03:54

Here I will show you how to use recommendation marketplace like Yelp to research the customer

Marketplaces with recommendations - how to use them to analyze the concept
06:24

Social media are valuable source of intel on your competitors and existing restaurants. By analyzing them you will know how they communicate with their target group, what is the focus of the both the restaurant owner / manager and customers. I will show you how to draw conclusions from the data on the fanpage of one pizza restaurant

Fanpages as a source of information about specific restaurant
04:40

Here I will show you how to use the Keyword Planner to research specific concept and make sure that it makes sense in your city. This method also helps you estimate what they are looking for (type of food, requirements) and also gives you some hints on how much you have to spend to get the traffic from on-line 

How to use Keyword Planner to analyze specific type of restaurant?
04:31

Google Trends is an excellent tool to check whether certain keyword is on a rise or not. Thanks to this tool you can check what are the trends by countries and media.

How to use google trends?
06:34

Quite often there are interesting reports already available on the market. I will show you here some examples

How to use ready made reports to analzy restaurant business?
05:16
+ Case Study Restaurant -How to analyze your target group ?
8 lectures 41:11

Your restaurants will be visited by different segments of customers yet you should have 1 favorite that you will concentrate on – the target group. I will show you how to define it and analyze their behavior to make sure that you build attractive from their point of view restaurant concept in the right place

How to define a segment - target group
03:09

Here we present an exmaple from USA of segmentation with real data

Example of segmentation
01:38

Your restaurants will be visited by different segments of customers yet you should have 1 favorite that you will concentrate on – the target group. I will show you how to define it and analyze their behavior to make sure that you build attractive from their point of view restaurant concept in the right place

Introduction to analyzing the target group
02:30

In this lecture we show you how to conduct the off-line interviews, how to draw conclusions out of it and where to find respondents

Off-line interview for known concepts
05:48

In this lecture we show you how to conduct the off-line interviews, how to draw conclusions out of it and where to find respondents. Here we will talk about new, unkown restaurant concepts where it is much more difficult to find out what the customer really wants

Off-line interview for unknown restaurant concepts
14:19

Facebook Audience Insight is the perfect tool to check different segments without the necessity to do any interviews. For first estimation it is the perfect tool

On-line interviews
01:35

On review marketplaces like Yelp, TripAdvisor you have plenty of reach reviews that can be used to draw conclusions on what the customer group likes and dislikes in current concepts. This will help you to learn from other’s mistakes and improve your concept. You can analyze what is important to the customer, what do they pay attention to and how to communicate with them.

Marketplaces with recommendations - how to use them to analyze the target group
06:24

Facebook Audience Insight is the perfect tool to check different segments without the necessity to do any interviews. For first estimation it is the perfect tool

Facebook Audience Insights - introduction
05:48