Get the full details here: http://orrenprunckun.com/

1. “How To Launch A New
Product Using Effective
Market Research…”

2. I Will Cover 4 Things:
1- Why this is important
& why you should listen to me
2- Theory about buying
psychology & market research

3. 3- How to do market research
step-by-step
4- Immediate next actions

4. First = Back to school
Last = Techniques

5. “Why Market Research
Is Important…”

6. You Will Be Able To
Determine:
Customer problems
Features & benefits
Customer concerns
Offer & price…

7. …Marketing channels
Value proposition
Motivation & urgency
Product names
And much more…

8. 80/20
Market research is success
insurance!

9. “My Story & Why I’m
Qualified To Talk About
This…”

10. Risk-Free
Startup Weekend Sydney
2011

11. Helped Others
Startup Weekend Adelaide –
500+ Alumni & x 5
Flinders University Venture
Dorm - 100+ Alumni & x 4

12. Valuations
$6,000,000+ (& Revenue)

13. “Buying Psychology &
Market Research
Theory…”

14. Market Research?
“Is any organized effort to
gather information about
customers”

15. For You
Use that information to inform
your business, your career &
your personal life

16. Case Study
Amazon use a process called
“working backwards” for new
product creation

17. “Start with your customer &
work back to the minimum set
features to satisfy what you
try to achieve” – CTO, Werner
Vogel

18. Press release
FAQ
User manual
> Before product creation

19. Sales Elements
Qualifying
Credentials
Benefits
An offer
Call to action
& So on

20. Market Research
Directly relates to your sales
presentation

21. You Want To:
“Enter into the conversation
that your prospect is already
having in their own mind” –
Copywriter, Robert Collier

22. Humans ♥ Homeostasis
= A condition that remains
stable & relatively constant

23. Human Motivation
x 2 / pain vs pleasure

24. Maslow’s Needs
Upper = Seeking pleasure
Lower = Avoiding pain

25. Purchasing Logic…

26. Pain or problem
= Not in homeostasis
= Outside comfort zone
> Anything to return FAST

27. ^ Motivation to find a solution
^ Willing to talk about it
Insight into their worldview

28. Sales
Mirror exact phrases
 “This is exactly what I
need!”

29. Human’s ♥ Instant
Gratification
Want to get back to their
comfort zone FAST

30. They see value
Not opportunity cost
= Focused on getting back to
their comfort zone

31. MRI Scans
Thought > Action >
7 seconds > Realise
Not the reverse!

32. “Confabulation”
Create a story
Rationalize with logic after

33. Love To Buy
(biology, emotion, the past)
Hate Being Sold To
(logic)

34. Love To Buy
In homeostasis
In comfort zone
In “control”
Boosted self esteem

35. Hate Being Sold
No pain or urgency
Convince
Resentment

36. Humans ♥ Magic Pill’s
Want results yesterday
Sell people what they want

37. “How To Step By
Step…”

38. 1- Prospect list
2- Ask the following 6 Qu’s…

39. “What are their biggest
challenges or what
results are they trying to
achieve?”
 Benefits

40. “What is the magic pill
they think will achieve
this?”
Features & prodct type

41. “If they could solve this
immediately, how much
would it be worth?”
 Price range

42. “Where and how are
they looking to solve
this?”
 Marketing & sales
channels

43. “What are they
considering buying?”
 Competition & value
proposition

44. “What will happen if
they don’t get this
solved?”
 Motivation & concerns

45. “How To Take Action …”

46. 1- Decide
2- Talk to people; no surveys
3- Repeat 20+x
4- Common denominators
5- Add to sales pitch

47. Business Card
= Copy of Questions

48. Good Luck!