The "Explore and Understand the Market" Toolkit

In the “Market Trend Analysis” work package, you will be equipped with the necessary tools and resources to analyze and understand market trends. By utilizing the market trend analysis whiteboard template and exploring the curated list of resources, you will engage in activities such as researching companies, conducting trend screenings, and performing keyword analysis. This work package will guide you in selecting the most relevant and influential trends and best practices that can shape the success of your business.

The “Market Environment Analysis” work package provides a comprehensive exploration of your business ecosystem. With the aid of the market environment analysis whiteboard template (on Miro) and curated lists of company info resources and data & statistics resources, you will examine crucial aspects such as customer segments, competitors, barriers to entry, suppliers and partners, and the socio-economic and political environment. Additionally, you will conduct a SWOT analysis to evaluate your business’s strengths, weaknesses, opportunities, and threats within the market landscape.

The “Competitor Analysis” work package equips you with the tools to thoroughly assess your competition. With the competitor analysis whiteboard template (on Miro) and the marketing channel glossary, you will navigate through essential chapters such as competitor selection, target customers, product/service offering, pricing strategy, distribution channels, marketing efforts, user journey, and positioning map. Gain a deep understanding of your competitors and position your business effectively in the market landscape.

In the “Customer Deep Dive” work package, you will dive into a thorough exploration of your target customers. With the customer deep dive whiteboard template (on Miro) and an array of resources including statistics and data sources, a customer survey question glossary, and a survey tool stack list, you will recover your target segments, conduct in-depth customer data research, develop customer personas, create empathy maps, map out customer journeys, and optionally perform market research. Gain deep insights into your customers’ needs, preferences, and behaviors to shape effective strategies and build meaningful connections.

The “Market Sizing” work package provides the essential tools to assess the potential size and growth of your target market. Utilizing the market sizing template and the data & statistics resources list, you will learn to identify your market, establish the case structure, collect relevant data, calculate market size, and project growth. Gain valuable insights to make informed decisions and strategically plan for the future success of your business.