Ad Hoc Market Research Workshop
Sound market research is the foundation of effective decision-making, managerial and marketing processes. However, this axiom appears to be overvalued in dynamically changing market landscape. While market research agencies are responsible for conducting thorough market intelligence appropriate to the specific task and situation, very little guidance is available to match the depth of research with the mission. Existing market research guides are outdated and do not emphasise efficient outcomes, and do not address dynamic market research needed to support urgent tasks at hand.
The workshop’s approach to market research is ad hoc, based on inconsistent, and insufficient data since reliable information is rarely available, especially for new technologies, new business models and emerging markets. Additionally, no existing research technique addresses how to properly gather and analyse unordered inconsistent data. Furthermore, specific skills for determining needed ad hoc information, finding it, analysing it, and disseminating it are not systematically taught or developed in the market analyst profession. Many commercial best practices (e.g., industry analysis and a purchasing portfolio matrix) do not work for startup companies and venture capital firms. Therefore, this ad hoc market intelligence workshop is developed to address the aforementioned deficiencies in an effort to provide market analysts practical guidance on conducting meaningful ad hoc market research. It is targeted toward innovators testing new waters.