Analyzing Industry Data

Our company advertises thousands of products online. We believe we know a lot about our consumers and target consumer base, but we need to look beyond the buyer and examine our industry. We would like to collaborate with students to identify key market trends and assist in our go-forward plans. This will involve several different steps for the students, including: Familiarizing themselves with our products, target market, and industry. Analyzing growth trends, stagnation patterns and decline analytics. Identifying areas of promising innovation and areas that are slowing down. Bonus steps in the process would also include: Recommending strategies to best position our company.

B2C Product Launch to New Market Research

As a B2C company, our primary goal is creating products that are closely aligned to our market segment’s wants and needs, so that we can maximize our sales. We have recently created a new product to increase the breadth of our product line. It will be important to gather information on buying behaviour, experiences, expectations, and perception of both our brand and our largest competitors. Tasks may involve: Creating an unbiased survey with questions regarding consumer experience with our brand, perception of our products/services, and opinions on our competitors. Creating effective conversation questions for customer interviews. Determining the best way to reach customers and how to motivate them to provide feedback on the company (we will distribute the survey accordingly). Analyzing trends within primary data collected through the survey and interviews, and reporting on them.

Competitive Analysis

Our company has been serving thousands of customers for decades. We want to better understand how our target audience perceives our brand and competitors. This will help us develop clarity on our competitive advantages and optimize our marketing strategy. We would like to collaborate with students to conduct a competitive analysis of our business. This will involve several different steps for the students, including: Familiarizing themselves with our company, products, and target market. Identifying current and potential future competitors. Creating a matrix identifying features that are similar and different between companies. Summarizing our competitive advantages and disadvantages relative to the competition identified. Bonus steps in the process would also include: Recommending how our company can differentiate itself through products / services and messaging.

Market Expansion Research

As a company, we currently exist in one market, but we believe we are ready to take our business to the next level and expand our scope of locations. With your help, we hope to assess our customer landscape beyond the demographics we currently cater to by learning about their expectations and behaviors. This will involve several different steps for the students, including: Researching the target market in potential new locations including demographic data such as spending power, proximity, accessibility, and location appeal, and creating a weighted decision matrix to assign importance to each factor. Creating a survey based on the location and demographic information above to be distributed by our company. Analyzing survey data using the weighted decision matrix to decide on the best location options for us to expand to. Compiling a report including the location analysis, and optimal location recommendations.