Course fee: NGN50,000
Dates: TBA
Overview
Market research is a key activity that should precede starting any business and it should be continuous throughout the life of the business. It involves any set of techniques used to gather information and better understand a company’s target market. Without research, it is impossible to understand your customers, both existing and potential. The information from a well conducted market research helps to design better products & services, and improve user experience which improves conversion rates.
Who should attend?
This training is open to anyone who wants to start a business, expand into new markets or change an existing business model to meet customers’ needs. It is suitable for anyone playing a strategic role in business startup, expansion or remodeling.
Course Methodology
This workshop will be delivered using the following methods: Instructor-led sessions, group discussions or brainstorming exercises, case studies, videos, role play activities, and individual assignments.
Learning Outcomes
By the end of the course, participants will be able to:
- Understand the purpose and application of market research data.
- Differentiate the different types of data and where to source them.
- Understand the tools and techniques needed to conduct lean market research.
- Perform quick and simple data analysis to inform business decisions.
Course content
- Defining the purpose and objectives of market research
- Introduction to lean market research for small businesses
- Target audience versus customer personae
- Planning targeted market research
- Questions your market research must answer.
- Classification of data and data sources
- Conducting surveys using appropriate survey instruments
- Conducting Focus group discussions
- Conducting Interviews
- Gathering data through observation
- Leveraging online resources for Market research
- Embracing collaboration for research purposes
- Analysing data using quick and simple techniques
- Presenting results for decision making
- Real life scenarios and case studies
