Schedule SWOT / Market Research 7:11 PM
1st SWOT Page 1 7:11 PM
It is a tool that business use to analysis: SWOT stands for: It is a tool that business use to analysis: Preexisting products New products Business 7:11 PM
S- Strengths W- Weaknesses O- Opportunities T- Threats SWOT Stands For: Characteristics of the idea that gives it a benefit over others. Characteristics of the idea that gives it a disadvantage over others. Chances to improve profit/sales etc. Things that could cause problems for the idea S- Strengths W- Weaknesses O- Opportunities T- Threats 7:11 PM
Think of the iPhone…In Groups…SWOT 7:11 PM
From Here, Which Do You Think Are Opportunities, Threats Strengths, Weaknesses, Opportunities, Threats Style. Intense competition from other phones. Can sell music with iTunes. High price. People may be more likely to use other apple products. Easy to use. 7:11 PM
iPhone SWOT Analysis Strengths Weaknesses Style / Brand Rich UI High price / High end Migrate people to Apple Distribute iTunes content Intense competition Highly developed market Opportunities Threats
Create a SWOT analysis of it Think of your product Create a SWOT analysis of it Present it to another group of students in 10 min 7:11 PM
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Market Research - Survey 2nd Market Research - Survey 7:11 PM
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Why is it important? The Purpose of Market Research is to go from: Thinking about what you want TO Thinking about what the market wants or needs and demands 7:11 PM
How Do Your Do Market Research? Primary: First-Hand Information Surveys A general view of a market gained usually via questionnaire Interviews 1 on 1 Q & A’s with target consumers to gain opinions about a product or service Focus Groups A small group selected from a wider population and sampled for its members’ opinions or emotional responses Trial and Sampling The introduction or promotion of a product by distributing trial packages of it 7:11 PM
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Chocolate Bar Activity You need to sell your product: A chocolate bar What questions could we ask? Create 6 questions with your presentation team !! This Is Practice !! 7:11 PM
Sample Questions What is your favorite type of chocolate? Rank your top 3 favorite ingredients (1 being the most favorite, 3 being the least favorite) Rank your top 3 favorite chocolate bars How often do you purchase chocolate bars? Where do you buy chocolate bars? __ Newsstands __ School __ Grocery store, Market __ Friends __ Supermarket __ Convenience Store How much are you willing to spend for a normal size chocolate bar? 7:11 PM
pollev.com/randon 7:11 PM
Survey The Class Consider your own product…and create 6 questions to better understand your market Ask students within the class the questions that you created Gather information in your team Tell me what sort of chocolate bar students in the class would like to have 7:11 PM
Homework… Complete your market research questions Begin to research Bring to class evidence that you have begun your research 7:11 PM