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Full Description
Planning your new business starts here. This invaluable guide arms entrepreneurs with all they need to know to research and analyze potential markets—key steps in constructing effective marketing plans, establishing sound financial forecasts, and finding backers.
The Entrepreneur's Guide to Market Research is a must-have for anyone who wants to start or expand a business. This fact-filled, actionable book offers a step-by-step guide to researching and documenting the market potential of any product or service, something that is an essential—and too-often overlooked—part of constructing a workable business plan.
Author Anne M. Wenzel, herself a principal in a market research firm, takes entrepreneurs through the process of assessing such things as market size and growth, market trends and needs, emerging technologies, competition, and distribution patterns. She discusses types of market research and makes it clear what market research can and can't do to improve the chances of success. Finally, the book shows entrepreneurs how to document findings as part of a well-written business plan that will be invaluable for their own decision-making and can also be shared with potential partners, lenders, and investors.
Contents
Acknowledgments
Introduction
1. What Market Research Is—And Is Not
2. Typical Outline for a Business Plan Market Analysis
3. Types of Market Research
4. Developing a Demographic Profile
5. Researching Trends in Our Markets
6. Distribution and Spending Patterns
7. Estimating the Size and Growth of the Market
8. The Competition: Competitors, Emerging Trends, and Technologies
9. Exploratory Market Research
10. Putting It All Together
11. Fitting the Market Analysis into the Business Plan
Appendix I—Business Plan Template
Appendix II—Sample Market Analysis: The Yoga Market
Index
