1. Chapter 7 - continued Market Research
Entrepreneurship
Chapter 7 - continued Market Research

2. Focus Groups
In small groups, select a movie that everyone has seen. Pretend you are a test audience and discuss the following: How could the film have been improved? Would you suggest a different ending? Was any part of the movie confusing?

3. Market Research Determine Your Competitive Advantage
Competitive Advantage - something that puts your business ahead of the competition
Gathering Competitive Intelligence - Pose as a customer
What products do they carry, how are they displayed, how much do they cost?
What is their customer service like, did the staff offer to assist me, were they friendly and helpful?
How many potential customers are in the store, what are their demographics, psychographics, geographics?
Does the competitor offer any special purchasing terms, such as credit with no interest?

4. Market Research Competitive Matrix
Designed to help analyze direct competitors in a more detailed and thorough approach
Can be formatted in various way