by Rahul
Collect data
Analyze data
Market Research as a Logical Process
management
Select the most appropriate
decision decision alternative
Backward Approach
Determine the key management
decisions to be made
The
Design sample
measurement
Analyze data
Traditional vs. Entrepreneurial
Research
Surveys Richer insights
Large sample Lower cost
Professional firm Less complexity
Customers rational Customers emotional
Start with product: Tap unconscious mind
attributes, features, of buyers
benefits Start with consumer
Analytical and
quantitative
Principles to Guide the
Entrepreneurial Research Process
Think Like a Guerrilla: unconventional tactics and
unorthodox practices
Make Use of Your Surroundings
Find Insights in the Ordinary
Explore the Unconscious
Build Research into Daily Operations
Use Technology Creatively
Create and Mine Databases
Low Cost Effective Research
Qualitative
Observe Customers in Action
Garbology
In-depth Interviews
Individual (Lead User Research)
Focus Groups
Projective Techniques
Snowball Sampling
Survey Research
Web based
Consumer panels
Experimentation
Archival Studies (secondary data)
Internal archives (company records)
External archives
Lead User
• Environmental Complexity
• Resource Scarcity
• Uncertainty
The Role of the Macroenvironment
HBR Scanning the Periphery
Mattel Barbie vs. Bratz
Avoid being blindsided
See changes sooner and capitalize on them
“What don’t we know that might matter?”
Improving Peripheral Vision
HBR Scanning the Periphery
Define Scope
Match capability with need
Companies in complex, rapidly changing
environments require well-develop peripheral
vision.
Companies in relatively simple, stable
environments have less of a need.
HBR Scanning the Periphery
Learning from the past
“What have been our past blind spots? What is
happening in these areas now?”
Is there an instructive analogy from another
industry? (Nanotech and GMO)
Who in your industry is skilled at picking up on
weak signals and acting on them ahead of
everyone else?
HBR Scanning the Periphery
Examining the Present
What important signals are you rationalizing away?
(cheaper products?)
What are your mavericks and outliers trying to tell you?
(Organon drug company, secretary and cheerful allergy
patients)
What are peripheral customers and competitors really
thinking? (Complainers and defectors)
HBR Scanning the Periphery
Envisioning New Futures
What future surprises could hurt (or help) us?
What emerging technologies could change the
game? (focus on customer conditions: over
served, underserved and unable)
Is there an unthinkable scenario?
Key Ideas