How to Do Market Research!
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- Опубликовано: 1 июн 2024
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The market will judge your idea one way or another… why not hear the verdict BEFORE you quit your day job?
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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.
Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Andrew Matthews
Executive Producer: Amanda Fox
Produced by: Katie Graham
Edited & Animated by: Andrew Matthews
Images by: Shutterstock
Music by: APM
SOURCES:
“If You Build It Will They Come?: Three Steps to Test and Validate Any Market Opportunity” by Rob Adams
bizfluent.com/how-4493168-det...
/ market-viability-7-ste...
www.shopify.com/blog/13640265...
blog.hubspot.com/marketing/ma...
www.sba.gov/business-guide/pl...
www.businessnewsdaily.com/544...
www.valuemarketresearch.com/r...
www.fastcompany.com/3021229/c...
I imagine that whenever they argue, they end their statements with "and that's my two cents" 😂
Yea and then bang on a million dollars
They don't argue, time is money. Low roi in fighting.
I think they would each say that is my one cent
@@rhimil11 Like in the Wolf of wall street. Lol killed me
😂😂😂
No one :
Friend I haven't seen in 15 years : Do you want to be your own boss?
Me : Is this a pyramid scheme?
Friend : No, it's a triangular modelled business plan!
yeah, it sounded like that kinda pitch at the beginning
No one:
Ajmal Rafi:
It's a mlm "business"
An inner light triangle
"It's not a pyramid scheme it's a reverse funnel system!"
Always do your own due diligence. No one cares about your money like you do 👍
you should do a video on what banks do with your money while it is sitting there. My sister asked me this and I think my explanation confused her a bit, but if you did it; it might make more sense since you do explanations real well and with pictures.
Well thank you! We'll add it to the list!
I would love to know about it too
Yes you should definitely make a video on how banks use customers money in a detail.
@@firdaisdianto2905 they essentially just loan it out. The amount of money that is loaned out is dependent on the bank's appetite of risk and the federal reserve's reserve ratio(bank's loaning money is actually the main way money is 'made' but that is the beginnings of another explanation)
Ever heard of fractional reserve lending ? Yeah they do that they keep a percentage of money in your account and loan out rest of your money or gamble in stock markets and if you urgently need money then they will just add numbers to your account or worst case just print extra cash and give it to you
I teach marketing research. This is my whole class in seven minutes...
Jeremy Morgan I’m a market researcher. I’m trying to create an online class and now I’m wondering if it’s even worth it
@@thamsanqandlovu8007 sure it's worth it there are things that most of the time only professionals cover and those things usually aren't available on YT
@@thamsanqandlovu8007 I am not a reliable source but... My pain point is that most online content is just... content? Most content producers do not even care if their content works. If you have a real concern about the success of your customers, I bet you would have a great customer base. Of course, it should be expensive to do so take care.
@@thamsanqandlovu8007 I mean, there's a difference between applying the concepts and being familiar with it.
Adam Victor Nazareth Brandizzi This is an insanely insightful comment.
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
Can you guys be my parents
Lolz. We're taken. But we're happy to be honorary auntie & uncle!
Same lol
I’ll be ur parents
And you guys are my legal adviser😊
I want the same.
I've started a side business designing and selling board games. I recently finished my first kickstarter campaign. Kickstarter was one step in validating the idea to reduce my financial risk to manufacture my game. Along the way, I also went to conventions to better understand the type of person interested in my board game. Looking for industry conventions is a great way to do market research because competitors and customers are all in one place. :) Many times you can also ask competitors for advice and they're usually willing to help.
all the best to you man!!! 👍👍 Maybe you can make a youtube tutorial video in the future :)
Market research is finding out what variables make people want to buy YOUR game over the competitors. And executing the ones with statistical significance
there truly is a mystery to how two cents keep their videos so short yet packed with information, if it were another channel this topic would be a whole series with 40 minutes per video
eli soopu yah this is the watered down version
Some things just come together. Thinking about starting my own business and then this video happens. You two have taught me much, and given me many jump off points to consider. Thank you and I hope your trip went well.
Your videos are very well done! I love how direct the explanation is, honest, and also love how you guys give examples of the things you teach
I am a marketing and business development professional. And you guys have done a very good job explaining this to any small business owner. Good evolution from savings bucks to making bucks 🙌
Thank you!
Finally the voices are clearly distinguishable (for me at least :D) over the background music!
:)
I clicked onto this video for the information. I wasn't expecting to actually enjoy the video. You both have presented it so well and in a way that's fun and easy to watch. Thank you!
What amazingly good content! 💯
Coming from being 28 and majored in Marketing at a well reputed business school, and I am AMAZED at how simply this topic was explained.... I actually learned things I didn't know or thought of in that way before ! haha
Quality of production is also mindblowing 👏👏👏
My experience:
Me: Boss, we should do a market research first before we launch this product.
Boss: And waste two weeks? I have a good feeling. Just do it. If it sinks, it sinks. If it sails, it sails.
Me thinking: #&! I went to college for this...
Awesome video. Love your channel. 💗 Went to high school for 3 years and they never even taught us how to fill out our tax papers. This should be on everyone's curriculum.
Thanks guys. I really needed this info.
Btw I cant stop smiling thinking you're standing on that box.
Merry Christmas to you two and your team.
Two Cents saving our cents! Thanks 😊
It's in dollars ...
You two are awesome! I love your videos and how they connect the conceptual with the practical!
I love this... I always find myself terrible at being entrepreneurial or having ideas but if I do this is a great template to get the process going.. you guys are great!
This video solved so many questions I had and answered many more I didn't even knew I had!!
I will almost never need this type of thing, but I *HAD* to click and support my favorite channel!
why the f**k does this channel having so less subscribers while they are providing all in one content and saving my time. great job!!
Loved this video. I wanna work in market research… this has been so helpful in understanding how market research is done.
Thank you for making stuff simplified and is to understand especially for the young folks
Thanks for making this! Always thought about primary research but some of those examples are great ideas that didn't occur to me before
My wife studied public administration. The concept of the needs assessment aligns perfectly with this video. Thank you!
This is a very high-quality explanation! Well-paced and covers the most prominent parts of market research. Thank you, My Two Cents!
i really like the humor of the two of you when you present something like this, it makes me interesting and relaxing as well as studying new things from your video. I hope both of you can make more videos in the nearest future. All the best to you
I'd love it if you guys could attach a quiz or worksheet with your videos that I could give to my students, but yes I can make one myself. Thanks for the great videos!
Two cents thanks for this 🙌
Sending love from Italy! You actually my fav channel! I love they you explain guys!
I love these two SOOOOo much!!
Wow, great explanation. I just loved this market research. I have read business books but my comcept is more clear now by this video.
This video has been wandering around my suggestions for about a year now. Finally got around to viewing. I've been a Market Researcher for 20+ years - Got to say the video was pretty good.
Can you guys go over how to analyze an income statement, cash flow, and/or balance sheet for a business?
i love you guys! thank you for helping out our class research
Great video! Can you guys also do one episode regarding medical bill (deductible/allowable and copay)?
Brilliant topic suggestion! and HSA vs FSA.
I'm trying to figure out if my idea for a small business will work. Y'alls video help me so much! Thank you!
This is the most amazing video which actually teaches how to do market research, we are soon going to do it and the best idea of finding customer pains through amazon is the most amazing one never thought of it. Continue to make quality content in future too.All the best
Thank you for this!!
I watched the video, loved it (esp how it infused humour), and I've hit the subscribe button aggressively! Thank you for creating an educative, easy-to-understand, and SHORT video. Kudos to the team!
*Heads to your channel to watch more videos.*
6:17 just taught me a new research data I can use. Thanks!
Glad I'd found this channel♥️ One of the most enjoyable and best financial coaching channels. A 17-year old subscriber here!
One of the videos I enjoyed the most and I find more useful!
Love this channel already. Thanks!
This channel is amazing. I was looking for this kind of thing.
The best approach is the lean startup approach. Start selling a minimum viable product, even if it's a demo of your real product, and sell it to real customers outside your social circles. Less money and time wasted.
JC E for which business model? Many different products and services. One size doesn’t fit all!
This can work with products
Yeah but probem with that. You don't put enough intensity in your idea for truly testing it. You miss a lot of opportunity with this approach. For exemple today in ecommerce branding is very very important for differentiating yourself but if you do MVP you can't have a branding so you don't differenciate yourself from others. So why people want to buy from you ??
wow, you guys just help me out.. all of this is more easy to understand now. Thanks a lot
This is one of the most useful videos I've ever seen. Thanks from Spain!
I kept hitting brick walls for the past year not knowing how to get this information. I have searched for about a year now and this video gave me exactly the info I needed! Thank you!. I was about to throw in the towel and I came across this!
I love your approach!!!awesome video. I just subscribed.
Thank you for sharing such a helpful tips in doing market research you are truly awesome and wonderful ^^
I did an audience research methods class for college. I didn't think I would use it but my non-profit job at the time after college needed it. So one othet bit of advice in that is utilize Nelson data. They have a lot of pay options but some free demographic data that tells you the types of people in a zip code.
You´re awesome, instant subscriber since first video, thanks!
Really helpful video. Thank you guys!
loved this!!
A great and informative video that doesn't bore me into a coffin. Love you guys.
Omg love it! thank you:)
Great video!!! Very enlightening!!
This helped me ... thank You ❤️
This is an excellent explanation ......... love it
Good luck to everyone who try to build a start up! 👌
Key points for myself... just post here to share, not for all people.
0. Market research is important as it keep you away from falling into abyss of feces.
1. Research on the market size, growth rate, demographics, industry leaders and performance between competing products.
2. Analyszing competitors. On price, cost, risk. From Google (Ad or Trend), or Twitter or anywhere reliable. Primary and Secondary research is really needed, personal observations and experience may help too.
3. Market pain. A problem to be solve by your product! Yo, like Intel running hot, and Apple Silicon coming into place. Best to get from conversation, face-to-face (or just look at weakness of other products, critics).
4. Objective honestly. Reduce time wasted on feces and move on. Maybe turn it into methane to get free energy or sth.
I am doing business for A level u explain it so well thanks
Your teaching way is great and enjoying
Thanks
You guys are some genuine teachers!
I find that primary research, while more time consuming, is more targeted towards your specific research needs. A simple conversation or online survey can help to reveal customer insights.
You give the best advices
Thank you, your video has been very informative and exactly what I have been looking for
Great tips, thank you!!
This is brilliant! Thanks
one of the best and valuables videos on this channel
I finally found my parents teaching me a good idea on how things works.. amazing..
This was an absolutely phenomenal video!
Thank you 🤞
Great video guys! Thank you!
First video from this channel and I subscribed within the first 20 seconds! Very good work.
Great video, thank you for providing such quality and complete content
This is an outstanding video! I felt like I was back in the 50's. I feel cleaner for having watched.
Very helpful thx!
Incredibly nice to watch!
Good teaching ...... I need a market research topic for existing clients
Thank you soo much , your information its clear , important and objective , your help its sooo good , thanks :D
i wish prosperity for both of ya guys
ur really really doing a great job
Where do I sign up to invest in Groomeo?
Amazing Explanations in best way - Thanks dudes - Stay Blessed
Thanks !
This channel is gold!
It's an amazing video and loaded with lots of information
Very Valuable!
so good!!
Very informative. Thank you.
Could you do a video on MLMs? There are people who still don't know the risks involved.
The word risk does not belong with MLMs. There is no risk involved in MLMs. The word risk implies there is a small probability of success , which of course is a lie in the case of MLMs
There's already one on scam or fraud something. Find it in their profile.
World Wide Wong ruclips.net/video/U1IvJClaqNI/видео.html
@@lordanjucero yeah, that was covered briefly in that video
@@rawvid9065 found the hun
Wow! Getting on the top of my favorite Business channels for education
*BUT I GOT A GREAT STOCK TIP IN THE LOCKER ROOM AT THE REC CENTER!!*
Marko - WhiteBoard Finance lolllzzzz
Sure that wasen't the only tip you got in the locker room at the rec center. Jk, too good of a joke to pass by. YOLO swag.
Enjoyed this presentation. It's my first time. .
Amazing!
Always do your research when it comes to your money and where it's going! Better be safe than sorry!
Great video. Well presented and informative.