Description
Learn in a classroom environment with your peers, virtually, with an instructor online.
Course Length: 1 day
Target Audience: General
Learning Objectives:
To understand and determine the market potential of your products or services. You will learn the fundamentals of your market potential, look at various methods to discover and analyze your market potentials. Demand estimation is an important step in planning. It makes it possible to define the objectives as well as the means to be implemented to reach them.
Course Content:
- To understand and define all different market potentials (total market potential, available, targeted and penetrating markets);
- To determine market potential for any product or service;
- Analyze your potential customer base, your competition and the current environmental conditions that may affect market potential;
- To look at market and competition analysis;
- The market concept and the type of customers;
- Understand the individual and group purchasing process;
- Demand analysis with scenarios (growth / average / decreasing);
- Approximative methods for estimating the market potential:
1) The method of successive ratios (secondary data)
2) The purchasing power index method (secondary data)
3) Indicative variable method (secondary data)
4) The Interest Survey Method (the only one that uses primary data).
- Sales Forecasting Methods for estimating the market potential:
1) The buying intentions survey method
2) The estimation method by the representatives
3) The evaluation method by the experts
4) The market test
5) Time series analysis
6) The regression analysis.
- Analysis of Market Responses Methods for estimating the market potential:
1) The measure of cognitive response (4 measures)
2) The measure of emotional response (3 measures)
3) The measure of the conative response (2 measures)
Supplement Material
A student manual is available for the learner to follow during the instructor’s presentation.
Benefits to the participants
Throughout the activities, the participants will gain knowledge to better understand their potential market and how they can apply marketing to increase revenues.
Course Evaluation
A course evaluation will be completed by the learners once the course is finished.
Note: The course outline may be subject to change.
