Whether you’re launching a new business, expanding your product line, or applying for a loan, this course will guide you through the fundamentals of market research so you can make informed decisions and build a viable business.

Part of the WeBC SMART Programs

Part of our SMART Program series, “Step-by-Step Market Research” is a self-paced course that walks you through the process of conducting market research using exercises and examples.

About the Market Research Course

Who are your customers? What do they really want? How can you stay ahead of the competition? Many business owners make decisions based on assumptions rather than real data. But successful businesses use market research to minimize risk and maximize success.

With effective market research, you can answer critical business questions such as:

• Are there enough customers to buy my product or service?
• What gaps exist in my industry that I can fill?
• How much are customers willing to pay for my product or service?
• What trends or innovations could create opportunities or challenges for my business?
• What risks might I face, and how can I prepare for them?

Besides giving you peace of mind that you’re headed in the right direction, effective market research can help you apply for a loan or pitch to investors, because you have concrete evidence that your business is a strong investment.

This interactive on-demand course will teach you how to:

• Refine your target market and figure out which questions you’re trying to answer
• Gather and interpret secondary research from credible sources
• Conduct primary research through surveys, interviews, and observations
• Analyze your findings to make strategic business decisions
• Apply research best practices

This self-paced module is offered in three parts:

• Chapter 1 | The Market Research Roadmap: Where to Begin
• Chapter 2 | Secondary Market Research: How to Find and Use Existing Data
• Chapter 3 | Primary Market Research: Collect and Analyze Your Own Data

What’s Included

• Access to the Mastering Market Research Module on our On-Demand Learning Platform
• A step-by-step Market Research Workbook
• Guidance from a Business Advisor

Chapters Included in the Market Research Course

The course is divided into three engaging chapters:

Chapter 1 | The Market Research Roadmap: Where to Begin

Are you making your business decisions based on facts, or assumptions? This chapter introduces you to the four essential steps in the market research roadmap and helps you to understand the power of market research and the insights it can unlock in your business.

In this chapter, you’ll learn how to:

• Identify your target market and challenge your assumptions about them
• Test whether your business is viable using market research
• Determine which questions you’re trying to answer, so you know where to focus your time and energy
• Set your Research Objectives so you have a strong foundation for your work

Chapter 2 | Secondary Market Research: How to Find and Use Existing Data

Why start from scratch when there’s already a wealth of information available? Secondary research involves gathering existing data to understand your industry, customers, and competitors. This is the big picture thinking that shows trends and opportunities.

In this chapter, you’ll:

• Discover credible sources of information that answer your questions
• Learn how to collect, organize, and interpret data without being overwhelmed by all the information out there
• Practice turning raw data into actionable steps by preparing summary statements

Chapter 3 | Primary Research: From Data Collection to Meaningful Insights

The best way to understand your customers is to ask them directly, because it shows you whether that ‘big picture’ secondary research applies to your specific market. This chapter walks you through the process of gathering firsthand data through surveys, pop-up test markets, and other methods—in other words, Primary Market Research. Then, you’ll summarize all your research that you’ve conducted throughout the course so you can answer those key questions you identified at the beginning and make adjustments to your business plan to ensure your business is viable.

In this chapter, you’ll:

• Select the best primary research methods for your business needs and resources
• Design effective questions so you get meaningful responses
• Create a research launch plan
• Put all your findings together into a clear and concise summary you can use for business plans, pitch decks and more.

Who is this for?

This introductory-level course is open to entrepreneurs, small business owners, and startups at early stages of business development or key turning points in their business, such as new product/service development or markets. It is particularly helpful for business owners who want to improve their business viability through data-driven decision-making.

Thanks to the Government of Canada’s Women Entrepreneurship Strategy, this course is currently free!

Cliquez ici pour voir la description de ce cours en français >>>

This program is funded by the Government of Canada’s Women Entrepreneurship Strategy.