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Knowing Your Market: Andrew Scrogham and Anne Archer 28 February 2012

Knowing Your Market: Andrew Scrogham and Anne Archer 28 February 2012. By the end of the session you will have:. Acquired knowledge of the market research and news sources available at the Business & IP Centre Newcastle and beyond. Why research a market?.

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Knowing Your Market: Andrew Scrogham and Anne Archer 28 February 2012

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  1. Knowing Your Market: Andrew Scrogham and Anne Archer 28 February 2012

  2. By the end of the session you will have: • Acquired knowledge of the market research and news sources available at the Business & IP Centre Newcastle and beyond.

  3. Why research a market? Market research helps you to ascertain: • How much of a demand there is for your product or service • Who the consumers are likely to be • What the competition is like  • What similar products/services are available on the market. • Whether it is a growth market 

  4. Market Research: a definition • The process of acquiring information about customers in a market through field research or desk research. • Field research (Primary Research) involves collecting primary data by interviewing customers or completing questionnaires. • Research Buyer’s Guide http://www.rbg.org.uk • Cobra: a guide to using a market research questionnaire

  5. Market Research: a definition • Desk research (Secondary Research) involves collecting secondary data by looking at information and statistics collected by others. • Market reports • Industry reports • Trade association reports • Official statistics • Trade journals

  6. Findings of field research Data: Quantitative & Qualitative Demographic information Product Data / New Products SWOT & PEST Analysis Data from other sources, e.g. Government & Trade Associations Forecasts What can we find in published market research?

  7. Keynote: Market research reports found at Newcastle Libraries • Over 2,000 market research reports • Coverage of every major industry sector • New/updated titles published every week • Easy-to-use report format and intuitive website http://www.keynote.co.uk

  8. Other Desk Research Tools • Market Research reports: http://www.marketresearch.comhttp://www.researchandmarkets.com • Market Research how to articles and research findings: http://www.marketresearchworld.net • Trade Associations: http://www.taforum.org or http://www.britishservices.co.uk/associations.htm • Trade Magazines: http://www.tradepub.com • Newstand (available through Newcastle Libraries 24 hour library)

  9. Statistics: • Office of National Statistics: http://www.ons.gov.uk / http://www.statistics.gov.uk (Local statistics and demographics: http://www.neighbourhood.statistics.gov.uk ) • European statistics (click on statistics under publications and documents) http://europa.eu/ • Links to official world wide statistics websites / sources: http://www.offstats.auckland.ac.nz • Useful list of statistics websites provided by British Library: http://www.bl.uk/eresources/socsci/statistics.html

  10. Competitor analysis • Corporate Researcher (available in Library) • Keynote (available in Library) • Thompson Business Pro (available in library) • Company websites • Online directories: Up My street, Yell.com, Scoot, Businessmagnet • Trade fairs / exhibitions • Blogs and social networking sites

  11. Other resources available at BIPC Newcastle: COBRA (City Library access only) • Business Opportunity Profiles • Factsheets • UK Market Synopses • Local Area Profiles • Business Legal Library • Sources of Business information • Events and Exhibitions

  12. Other Business Libraries British Library BIPC - http://www.bl.uk/bipc/ • Wealth of resources including industry guides and numerous specialist and general databases Business and Patent Information Service: Leeds Central Library -http://www.businessandpatents.org • Keynote, Cobra, Mintel Business at The Mitchell Library: Glasgow:- http://www.glasgow.gov.uk/en/Business/BusinessMitchell/ • Keynote, Cobra, Datamonitor, ABI/Inform, Mint UK and Mint Global

  13. Contacts • Business & IP Centre Newcastle website: http://www.bipcnewcastle.co.uk • Newcastle City Library: bipcnewcastle@newcastle.gov.uk Tel: 0191 2774100

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