🎓 Business Gurukul
Professional Market Research Report | businessgurukul.in
Market Research Tool
Comprehensive market analysis and customer insights for strategic business decisions
Market Analysis Framework
Customer Persona Builder
Market Trends Analysis
Market Sizing Calculator
📚 Market Research Guide & Resources
🔍 Research Methods & Techniques
📊 Primary Research
Surveys: Use online tools like Google Forms, SurveyMonkey for quantitative data
Interviews: 1-on-1 conversations for deep qualitative insights
Focus Groups: Group discussions to understand preferences and motivations
📈 Secondary Research
Industry Reports: IBISWorld, Statista, McKinsey reports
Government Data: Census Bureau, Bureau of Labor Statistics
Trade Publications: Industry-specific magazines and websites
🌐 Digital Research Tools
Google Trends: Search volume and interest over time
Social Media: Twitter, Reddit, LinkedIn for sentiment analysis
SEO Tools: SEMrush, Ahrefs for keyword research
🎯 Competitive Intelligence
SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats
Mystery Shopping: Experience competitor products/services
Financial Analysis: Review public company filings and reports
🎯 Market Analysis Framework
1. Industry Overview
Market Structure & Key Players
- Industry size and growth rate (historical and projected)
- Market concentration (fragmented vs. consolidated)
- Key players and market share distribution
- Industry lifecycle stage (emerging, growth, mature, decline)
2. Market Trends Analysis
Current and Emerging Trends
- Technology trends affecting the industry
- Consumer behavior and preference changes
- Regulatory and policy changes
- Economic factors and market drivers
3. Competitive Landscape
Porter's Five Forces Analysis
- Threat of new entrants
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products
- Competitive rivalry intensity
👥 Creating Effective Customer Personas
🎯 B2B Decision Maker
Example: IT Director
Demographics:
- Age: 35-50, Male/Female
- Education: Bachelor's in IT/Engineering
- Experience: 10+ years in technology
- Company size: 100-1000 employees
Goals & Pain Points:
- Improve system efficiency and security
- Reduce operational costs
- Stay current with technology trends
- Pain: Limited budget and resources
🛒 B2C Consumer
Example: Working Parent
Demographics:
- Age: 28-45, Parent of 1-3 children
- Income: $50K-$100K household
- Location: Suburban areas
- Tech comfort: Moderate to high
Behavior & Preferences:
- Values convenience and time-saving
- Shops online and mobile frequently
- Influenced by reviews and recommendations
- Price-conscious but willing to pay for quality
🚀 Early Adopter
Example: Tech Enthusiast
Characteristics:
- Age: 25-40, High disposable income
- Education: College-educated
- Profession: Technology, Finance, Marketing
- Social influence: Active on social media
Buying Behavior:
- First to try new products/services
- Willing to pay premium for innovation
- Influences others through reviews and sharing
- Values cutting-edge features and design
📐 Market Sizing Methodologies
🔝 Top-Down Approach
Method: Start with total market, narrow down to your segment
- Use industry reports for total market size
- Apply demographic and geographic filters
- Estimate your addressable market percentage
- Example: $100B industry → 5% in your region → 10% fits your profile = $500M TAM
🔻 Bottom-Up Approach
Method: Start with unit economics, scale up
- Identify target customer segments and counts
- Estimate average revenue per customer
- Calculate total potential revenue
- Example: 10,000 potential customers × $5,000 annual value = $50M TAM
📊 TAM, SAM, SOM Framework
- TAM (Total Addressable Market): Total market demand for your product category
- SAM (Serviceable Addressable Market): Portion of TAM you can serve with your business model
- SOM (Serviceable Obtainable Market): Portion of SAM you can realistically capture
- Realistic SOM: Typically 1-5% of SAM in first 3-5 years
❓ Market Research FAQ
Sample Size Guidelines:
- Exploratory research: 30-50 responses
- Market sizing: 300-500 responses for 95% confidence
- Statistical significance: Use online calculators for specific margin of error
- B2B markets: 50-100 responses often sufficient due to smaller populations
Key Interview Questions:
- What's your biggest challenge with [problem area]?
- How do you currently solve this problem?
- What would an ideal solution look like?
- How much time/money does this problem cost you?
- Who else is involved in purchase decisions?
Validation Methods:
- Cross-reference multiple industry sources
- Compare to similar markets or analogous products
- Test assumptions with pilot programs or surveys
- Analyze competitor revenue and market share
- Use multiple sizing approaches (top-down + bottom-up)
Competitor Research Tactics:
- Analyze their website, pricing, and product features
- Read customer reviews and feedback
- Follow their social media and content marketing
- Attend industry events where they present
- Use tools like SimilarWeb for traffic analysis
Update Frequency:
- Fast-moving markets (tech): Quarterly updates
- Stable markets: Annual comprehensive review
- Major industry changes: Immediate research update
- Competitive monitoring: Monthly or continuous
- Customer feedback: Ongoing collection and analysis