The Entrepreneur's Guide to Market Research
How do you identify a workable business venture? You start with market research. Market analysis provides entrepreneurs with information that is the foundation for pricing, financial forecasts, and marketing plans, as well as for jettisoning unprofitable ideas. Surveying and understanding the market is crucial to establishing any entrepreneurial business—and it is now easier than ever.
||6 1/8x9 1/4
||Business/Marketing, Advertising and Sales
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.
- Worksheets for compiling demographic information, templates for market analysis and the business plan, and a grid for analyzing the competition
- Case studies showing how entrepreneurs have used market research information to develop profitable business strategies
- A business-plan template with guidelines for each section
- Tips and insights for completing market research in each chapter
- Online and community resources in each chapter
- Bullet point summarizing steps at the end of each chapter
- Provides step-by-step guidance in conducting a complete market analysis
- Offers an approach that is "boots on the ground" for someone actually launching a business
- Shows how to incorporate market analysis into the strategic business plan and how to understand the potential for a business's success
- Author Info
"Wenzel (market research professional and faculty member, Baker College Online) covers the field of market research from beginning to end, effectively combining theory and real-world application. She offers a clear, concise understanding of market research, e.g., primary versus secondary research, qualitative versus quantitative, its key functions, and appropriate uses. . . . This volume is a succinct encyclopedia of market research and a useful guide to conducting a business plan. Practitioners, particularly those expanding into new markets or developing business plans for the first time, will find this work especially useful."
- Look Inside