Market Research Plan

Evaluate and monitor the political factors affecting your organization. How and to what degree a government and the current policies intervene in the economy? Think about: government policy, political stability or instability in overseas markets, foreign trade policy, tax policy, labor law, environmental law, trade restrictions, etc You will need to be able to respond to the current legislation. You can also anticipate future legislation, and adjust your marketing policy accordingly to better take advantage of those policies.

Evaluate and monitor the economic factors affecting your organization. Evaluate economic factors that can have a significant impact on how an organization does business and also how profitable they are. Evaluate factors like economic growth, interest rates, exchange rates, inflation, disposable income of consumers, etc

Evaluate and monitor the social factors affecting your organization. Factors that include shared beliefs and attitudes of the population.

Evaluate and monitor the technological factors affecting your organization.

Evaluate and monitor the environmental factors affecting your organization. How is your company trying to be ethical and a sustainable company, reducing your carbon footprint targets set by governments and by other organizations?

Evaluate and monitor the legal factors affecting your organization. Evaluate health, safety, equal opportunities, advertising standards, consumer rights and laws, product labeling, product packaging and product safety.

Use our highlight feature to to reveal key findings and important conclusions.

Brief User / client Information Style: If it is a design project, think about your style. Are you putting together a masculine or feminine board? Futuristic, modern, vintage? Is it edgy, bold, or peaceful? Color palette: Dominant colors and secondary colors Source: Where are the best places to look for information and inspiration?

Find a mish-mash of images, illustrations, colors, words, fonts, and textures that define the direction of a project. Use board stickers to mark and highlight the images and information that are important to you.

Send an email to your client or stakeholders and share your moodboard/inspiration board with them. Your session"guests" will only be able to see the next step. Options: You can schedule a meeting with them or you can ask them to leave sticky notes with some feedback.

Add your direct competitor in the red column and substitute competitors inside the black and grey columns. Direct competitors** (key competitors): They have the same target market and the same solution. Make sure you are not losing too many users/customers because of them. Potential competitors:** Direct target market and/or a different product. Substitute competitor:** Don't solve the same problem and/or same target market. They often can be used as a substitute.

Follow our 5 dimensions to understand and evaluate your competitors. Product core Size of the user base Design Brand Speed How to monitor your competitors? Go to websites like crunchbase.com and keep track of their funding and the amount of money they have to hire people, invest in marketing, etc. Acquisition and partnership:** Companies they are buying or partnering with. New features:** Go to mention.com , follow your competitors on Angelist, _LinkedIn_, and social media and use google alerts to get notified when new search results are available.

Add any final thoughts on what this means for your competitive advantage and how you might move forward based on areas of low or high ratings.

Add competitor products as well as their core features.

You will use a 1 to 5 scale to evaluate each feature. Where: 1 = Bad implementation and design 5 = Great usability, design and implementation

https://nova-labs-1.s3.amazonaws.com/pub/25DDabHiAsp4k9K26yoEQbM-Screen Shot 2020-03-16 at 7.11.29 PM.png

Add any final thoughts on what this means for your competitive advantage and how you might move forward based on areas of low or high ratings.

We have 3 types of elements: Your organization's icon: You will use the blue icon to represent your organization. Stakeholders icons:** You will use the yellow icons to represent different stakeholders. If you need an additional one, you can add the name on a sticky note. Value icons:** You will use the round white icons to represent value.

Start mapping how value is being exchanged between different stakeholders and the different ways you exchange value. Take some time to map out your current ecosystem model. You will be able to explore new ideas later. This should take 10 to 30 min.

Explore and discuss possible new ecosystem models. Your goal is to develop an ecosystem that is sustainable and where all the stakeholders and players in the ecosystem deliver and receive value. Questions for inspiration: Are all of our stakeholders receiving a fair amount of value? What else could we offer? What stakeholders are essential for our organization, and how can we improve our relationship with them? What are we missing? Who can provide that value? What would we be willing to give them in exchange?