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= Market Research for IT Startups =
−
= Career and leadership =
  
−
* '''Course name''': Career and leadership
 +
* '''Course name''': Market Research for IT Startups
−
* '''Code discipline''': R-01
 +
* '''Code discipline''':
−
* '''Subject area''':
+
* '''Subject area''': Technological Entrepreneurship
   
 
== Short Description ==
  
== Short Description ==
  +
This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality
−
This course covers the following concepts: The concept of leadership (“becoming the leader of my own life”); The career modelling as a life path of the growth and positive changes (“not just to wait and take but to give and create”); Lifelong learning and competences development for the professionals of the future.
  
   
 
== Prerequisites ==
  
== Prerequisites ==
   
 
=== Prerequisite subjects ===
  
=== Prerequisite subjects ===
  +
* N/A
−  
   
 
=== Prerequisite topics ===
  
=== Prerequisite topics ===
  +
* N/A
−  
   
 
== Course Topics ==
  
== Course Topics ==
Line 22: Line 22:
 
! Section !! Topics within the section
  
! Section !! Topics within the section
 
|-
  
|-
  +
| Ideation tools ||
−
| Modern trends in career modelling ||
 
  +
# Art VS Creativity
−
# Modern career labor market and its main tendencies
  
  +
# Ability to discover
−
# Competencies of the modern professional
  
  +
# How to generate ideas
  +
# Creativity sources
  +
# Ideation in groups
  +
# Rules for ideation for startups
 
|-
  
|-
  +
| Market research content ||
−
| Instruments of career modelling ||
 
  +
# Types of research: primary vs secondary
−
# Educational trajectory
  
  +
# How to plan a research
−
# Professional trajectory
  
  +
# Market research chapters content
  +
# Frameworks used in a market research (SWOT, Persona, etc)
  +
# Tools and sources to conduct a competitors analysis
 
|-
  
|-
−
| Modern leadership ||
+
| Customer development ||
  +
# Interviews are the main tool for “Get Out The Building” technique
−
# The concept of the modern leader
  
  +
# The "Mum's Test"
−
# Emotional and dialogical leadership
  
  +
# Jobs-To-Be-Done
−
|}
 
  +
# Good and bad interview questions
  +
|-
  +
| Market sizing ||
  +
# Market analysis VS market sizing
  +
# Sizing stakeholders and their interests
  +
# Sizing methods
  +
# TAM SAM SOM calculation examples
  +
|-
  +
| Data for a research ||
  +
# Sources and tools for competitors overview
  +
# Sources and tools for product and traffic analysis
  +
# Sources and tools for trend watching
  +
# Life hacks for search
  +
|-
  +
| Founder motivation ||
  +
# Ways to Stay Motivated as an Entrepreneur
  +
# Exercises for founders motivation
  +
|-
  +
| Pitch Day ||
  +
# Market research results presentations
  +
|}
  +
 
== Intended Learning Outcomes (ILOs) ==
  
== Intended Learning Outcomes (ILOs) ==
   
 
=== What is the main purpose of this course? ===
  
=== What is the main purpose of this course? ===
  +
This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business.
−
The main purpose of this course is to form the students’ vision of effective career modelling and to develop the competences needed for the successful career and personal growth
  
   
 
=== ILOs defined at three levels ===
  
=== ILOs defined at three levels ===
Line 43: Line 72:
 
==== Level 1: What concepts should a student know/remember/explain? ====
  
==== Level 1: What concepts should a student know/remember/explain? ====
 
By the end of the course, the students should be able to ...
  
By the end of the course, the students should be able to ...
  +
* Market research techniques using open data,
−
* the modern trends in career modeling and features of the labor market;
  
  +
* Typology of market assessment methods,
−
* the features of career modeling; requirements for a modern professional; the concept of "project portfolios";
  
  +
* Types of research data and their application,
−
* the concept and features of career and educational trajectories;
  
  +
* Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc
−
* the components of the competence profile of a professional;
  
−
* the characteristics of teams and the basics of team building;
  
−
* the concept and modern typology of leadership;
  
−
* the types and characteristics of distinct types of leadership
  
   
 
==== Level 2: What basic practical skills should a student be able to perform? ====
  
==== Level 2: What basic practical skills should a student be able to perform? ====
 
By the end of the course, the students should be able to ...
  
By the end of the course, the students should be able to ...
  +
* Methods of ideation,
−
* career modelling;
  
  +
* TAM SAM SOM method, 2 approaches,
−
* performing oneself as a leader;
  
  +
* Applied tools and resources for market sizing,
−
* teambuilding
  
  +
* Principles to work with business hypotheses
−
* creation of professional portfolio;
  
−
* creation of educational and professional trajectories;
  
−
* creation of the competence profile of a modern professional.
  
   
 
==== Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios? ====
  
==== Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios? ====
 
By the end of the course, the students should be able to ...
  
By the end of the course, the students should be able to ...
  +
* Identify and describe the market
−
* design their career path;
  
  +
* Assess market potential for any business idea
−
* form portfolios of projects;
  
  +
* Conduct relevant market research before starting up a business
−
* create career and educational trajectories for building a successful career and develop your own professional competencies;
  
  +
* Use the most relevant and high-quality data for a market research
−
* develop leadership and form teams;
  
  +
−
* develop and implement a strategy for positive change through leadership.
 
 
== Grading ==
  
== Grading ==
   
Line 75: Line 99:
 
! Grade !! Range !! Description of performance
  
! Grade !! Range !! Description of performance
 
|-
  
|-
−
| A. Excellent || 90-100 || -
 +
| A. Excellent || 85.0-100.0 || -
 
|-
  
|-
−
| B. Good || 75-89 || -
 +
| B. Good || 70.0-84.0 || -
 
|-
  
|-
−
| C. Satisfactory || 60-74 || -
 +
| C. Satisfactory || 50.0-69.0 || -
 
|-
  
|-
−
| D. Poor || 0-59 || -
 +
| D. Fail || 0.0-50.0 || -
 
|}
  
|}
   
Line 90: Line 114:
 
! Activity Type !! Percentage of the overall course grade
  
! Activity Type !! Percentage of the overall course grade
 
|-
  
|-
  +
| Paper #0: Market research structure || 0-10 scale (costs 10% final)
−
| Labs/seminar classes || 20
  
 
|-
  
|-
  +
| Paper #1: TAM SAM SOM || 0-10 scale (costs 20% final)
−
| Interim performance assessment || 30
  
 
|-
  
|-
  +
| Workshops activity || 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final)
−
| Exams || 50
  
  +
|-
  +
| Paper #2: Market research || 0-10 scale (costs 30% final)
  +
|-
  +
| Final Presentation || 0-10 scale (costs 20% final)
 
|}
  
|}
   
 
=== Recommendations for students on how to succeed in the course ===
  
=== Recommendations for students on how to succeed in the course ===
  +
Participation is important. Showing up and participating in discussions is the key to success in this course.<br>Students work in teams, so coordinating teamwork will be an important factor for success.<br>Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.<br>The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses
−  
   
 
== Resources, literature and reference materials ==
  
== Resources, literature and reference materials ==
   
 
=== Open access resources ===
  
=== Open access resources ===
  +
* - article with reflections on the methodology book on the 55 typical business models
−
* Sharme, R. (2010). The Leader Who Had No Title. Simon & Schuster UK.
  
  +
* - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear.
−
* Van Loon, R. (2018). Creating Organizational Value Through Dialogical Leadership. [S.L.]: Springer International Pu.
  
  +
* - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs.
  +
* A selection of with a summary of key ideas from Harvard Business Review
  +
* F. Sesno "" - the book on how to get information out of people through questions.
  +
* a visual guide book to dealing with your inner procrastinator
   
 
=== Closed access resources ===
  
=== Closed access resources ===
  +
* Crunchbase.com
  +
* Statista.com
   
  +
=== Software and tools used within the course ===
  +
* Boardofinnovation.com
  +
* Miro.com
  +
* Notion.com
  +
* MS Teams
   
−
=== Software and tools used within the course ===
  
−
 
 
= Teaching Methodology: Methods, techniques, & activities =
  
= Teaching Methodology: Methods, techniques, & activities =
   
 
== Activities and Teaching Methods ==
  
== Activities and Teaching Methods ==
 
{| class="wikitable"
  
{| class="wikitable"
−
|+ Activities within each section
 +
|+ Teaching and Learning Methods within each section
 
|-
  
|-
−
! Learning Activities !! Section 1 !! Section 2 !! Section 3
 +
! Teaching Techniques !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7
 
|-
  
|-
  +
| Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Homework and group projects || 1 || 1 || 1
  
 
|-
  
|-
−
| Midterm evaluation || 1 || 1 || 1
 +
| Project-based learning (students work on a project) || 1 || 1 || 1 || 1 || 1 || 1 || 1
 
|-
  
|-
  +
| Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Reports || 1 || 1 || 1
  
 
|-
  
|-
  +
| Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Essays || 1 || 1 || 1
  
 
|-
  
|-
  +
| Business game (learn by playing a game that incorporates the principles of the material covered within the course). || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
| Oral polls || 1 || 1 || 1
  
 
|-
  
|-
−
| Discussions || 1 || 1 || 1
 +
| inquiry-based learning || 1 || 1 || 1 || 1 || 1 || 1 || 1
−
|}
+
|}
−
== Formative Assessment and Course Activities ==
  
−  
−
=== Ongoing performance assessment ===
  
−  
−
==== Section 1 ====
  
 
{| class="wikitable"
  
{| class="wikitable"
  +
|+ Activities within each section
−
|+
 
 
|-
  
|-
  +
! Learning Activities !! Section 1 !! Section 2 !! Section 3 !! Section 4 !! Section 5 !! Section 6 !! Section 7
−
! Activity Type !! Content !! Is Graded?
  
 
|-
  
|-
−
| Question || What are the main competencies of the modern professional? || 1
 +
| Interactive Lectures || 1 || 1 || 1 || 1 || 1 || 1 || 1
 
|-
  
|-
  +
| Lab exercises || 1 || 1 || 1 || 1 || 1 || 1 || 0
−
| Question || What are the main competencies of the professional of the future (in 10 years)? || 1
  
 
|-
  
|-
  +
| Group projects || 1 || 0 || 0 || 0 || 0 || 1 || 1
−
| Question || What is the difference between soft-skills and hard-skills? || 1
  
 
|-
  
|-
−
| Question || How can soft-skills of the specialists help in the hi-tech business? || 1
 +
| Flipped classroom || 1 || 1 || 1 || 1 || 1 || 1 || 0
 
|-
  
|-
−
| Question || What is a portfolio of the projects? || 1
 +
| Discussions || 1 || 1 || 1 || 1 || 1 || 1 || 1
 
|-
  
|-
−
| Question || What is a portfolio of the career? || 1
 +
| Presentations by students || 1 || 0 || 1 || 0 || 0 || 0 || 1
 
|-
  
|-
  +
| Oral Reports || 1 || 0 || 1 || 0 || 0 || 0 || 1
−
| Question || What are the most important career trends now? Use the examples from your sphere. || 0
  
 
|-
  
|-
  +
| Cases studies || 0 || 1 || 0 || 1 || 1 || 1 || 0
−
| Question || Find 1-2 examples of successful careers in IT-sphere. Why do you think this people are successful? What can inspire you and what can prevent you from future mistakes? || 0
  
 
|-
  
|-
  +
| Experiments || 0 || 0 || 1 || 0 || 0 || 0 || 0
−
| Question || Do you know people who failed but managed to overcome the difficulties and progress? Why do you think they managed to face the challenges? || 0
  
 
|-
  
|-
  +
| Written reports || 0 || 0 || 1 || 0 || 0 || 1 || 0
−
| Question || Are you a “slash-person”? How do you think career portfolio can be useful or challenging for modern career modelling? || 0
  
 
|-
  
|-
−
| Question || How to create the project portfolio? || 0
 +
| Individual Projects || 0 || 0 || 0 || 1 || 0 || 0 || 0
 
|-
  
|-
−
| Question || Questions for exam preparation within this section || 0
 +
| Peer Review || 0 || 0 || 0 || 0 || 0 || 0 || 1
  +
|}
  +
  +
== Formative Assessment and Course Activities ==
  +
  +
=== Ongoing performance assessment ===
  +
  +
==== Section 1 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Question || What does it mean to be a “professional of the future”? || 0
  
 
|-
  
|-
  +
| Discussion || Difference between Art and Creativity. Examples from your personal experience <br> Tools to manage your attention: work with exercises above <br> Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before? <br> Idea diary: share your experience, was it useful? How to keep motivation to continue? <br> Sharing your business ideas: is it risky for a founder? Why? <br> Name and discuss principles of hypothesis thinking <br> Name and comment on ideation tool you know. Did you have an experience with it? <br> Where to take creativity? Your advice <br> Lets find examples of “Steal like an artist” approach among startups <br> Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea. || 0
−
| Question || Why do some people become “overqualified”? Is it good of bad for the career? || 0
  
 
|-
  
|-
  +
| Workshop || Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams || 1
−
| Question || What is a dream career for you? || 0
  
 
|-
  
|-
  +
| Exercise || Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. || 0
−
| Question || Name 2-3 projects in which you would like to participate in the same time. Why will you be able to combine them effectively? || 0
  
−
|-
 +
|}
  +
−
| Question || How did labor market change within past 3 years? Why? What are the main tendencies for the future (3-5 years)? || 0
  
−
|}
 
 
==== Section 2 ====
  
==== Section 2 ====
 
{| class="wikitable"
  
{| class="wikitable"
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! Activity Type !! Content !! Is Graded?
  
! Activity Type !! Content !! Is Graded?
 
|-
  
|-
  +
| Discussion || What are the basic steps in market research? <br> What are the commonly used market research methods? <br> What research question types can be asked in surveys? <br> Should startup prefer primary or secondary research? || 0
−
| Question || What is an educational trajectory? || 1
  
−
|-
  
−
| Question || Do you need an educational trajectory only while studying in the university? Explain your answer. || 1
  
−
|-
  
−
| Question || What is professional trajectory? || 1
  
−
|-
  
−
| Question || How are professional and educational trajectories connected? || 1
  
−
|-
  
−
| Question || What is a competence profile of professional? || 1
  
−
|-
  
−
| Question || Which modules of your career trajectory you would highlight as crucial ones? Why? || 0
  
−
|-
  
−
| Question || How is your current educational trajectory connected to your career trajectory? Do you think there is a space for unexpected lines and flexibility? || 0
  
−
|-
  
−
| Question || What are the main competences of the modern IT-specialist? Why have you chosen those? || 0
  
−
|-
  
−
| Question || How would you rate your level of the development of your professional on your competence map? Do you see the development potential? || 0
  
 
|-
  
|-
  +
| Workshop || SWOT analysis: compare your business idea with competitors and market situation <br> Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry || 0
−
| Question || How can you use your competence map in your future life? || 0
  
 
|-
  
|-
  +
| Home written assignment || Market research doc: create a structure that is: <br> 1-2 pages long <br> Describes your business idea <br> Contains the structure of your future research <br> Contains a list of questions to answer during the research for each chapter proposed <br> Contains links and references to data sources potentilly interesting to use in a research <br> Its feasible: it should be a chance you may answer all the questions stated in the doc <br> The doc format is designed and well structured || 1
−
| Question || Test questions for exam preparation within this section || 0
  
−
|-
 +
|}
  +
−
| Question || What is lifelong learning? Do you share the values of this principles? || 0
  
−
|-
  
−
| Question || What your vision of your future career? Is it flexible enough? || 0
  
−
|-
  
−
| Question || How would you understand that you achieved the “top”? || 0
  
−
|-
  
−
| Question || Do you think IT-specialist should develop his soft-skills constantly? Why? || 0
  
−
|-
  
−
| Question || Which benefits does emotional intelligence provide to IT-specialists? || 0
  
−
|}
 
 
==== Section 3 ====
  
==== Section 3 ====
 
{| class="wikitable"
  
{| class="wikitable"
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! Activity Type !! Content !! Is Graded?
  
! Activity Type !! Content !! Is Graded?
 
|-
  
|-
−
| Question || Who is a modern leader in your opinion? || 1
 +
| Oral test || Good or bad interview question? <br> Useful or useless feedback? || 0
 
|-
  
|-
  +
| Workshop || Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. || 1
−
| Question || Which concepts of leadership you can name? || 1
  
 
|-
  
|-
  +
| Case study || Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? || 0
−
| Question || Who is a dialogical leader? || 1
  
  +
|}
  +
  +
==== Section 4 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Question || What is emotional leadership? || 1
  
 
|-
  
|-
  +
| Workshop || Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. || 1
−
| Question || What is success? || 1
  
 
|-
  
|-
−
| Question || Who is an inspiring leader for you? Why? || 0
 +
| Case study || Learn a market sizing case: online babysitting service || 0
  +
|}
  +
  +
==== Section 5 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Question || Why does dialogical leader is crucial for the business teams working in hi-tech sector? || 0
  
 
|-
  
|-
  +
| Workshop || Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) || 0
−
| Question || What are your favorite inspirational quotes of famous people from your sphere of interest about career and leadership? || 0
  
 
|-
  
|-
  +
| Oral presentation || Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. || 1
−
| Question || Should IT-specialist be a leader? Why? What kind of leader he/she should be? || 0
  
  +
|}
  +
  +
==== Section 6 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Question || What are the most important skills of the leader of IT-team? || 0
  
 
|-
  
|-
  +
| Workshop || Exercises: <br> Personal SWOT Analysis <br> List of Personal Achievements <br> Analysis of Motivating Activities <br> Your Personal Vision || 0
−
| Question || Test questions for exam preparation within this section || 0
  
  +
|}
  +
  +
==== Section 7 ====
  +
{| class="wikitable"
  +
|+
 
|-
  
|-
  +
! Activity Type !! Content !! Is Graded?
−
| Question || How to combine successful career and personal life? || 0
  
−
|-
  
−
| Question || Why are women leaders are important for the hi-tech sector? || 0
  
 
|-
  
|-
  +
| Pitch session || The final Market Research report should follow the structure discussed <br> Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work || 1
−
| Question || What are the features of success? Find the example of successful professional in IT-sphere. Why do you think they are successful? || 0
  
−
|-
 +
|}
  +
−
| Question || What are the features of the team? What is the difference between team and working group? || 0
  
−
|-
  
−
| Question || What are the basic rules of teambuilding? || 0
  
−
|}
 
 
=== Final assessment ===
  
=== Final assessment ===
 
'''Section 1'''
  
'''Section 1'''
  +
# For the final assessment, students should complete the Market Research paper.
−
# Write the essay on the topic of the “Me as a professional of the future”’
  
  +
# It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt.
−
# Make the report on the actual situation in the labor market for you specialization and prognosis of its future changes (3-5 years lag).
  
  +
# The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc.
−
# Create and present the portrait of the “super professional” in the sphere of your specialization.
  
  +
# Grading criteria for the final project presentation:
  +
# Market sizing has been carried out
  +
# Customer segments are named
  +
# Сompetitor analysis has been conducted
  +
# At least 2 prominent data sources are used
  +
# Customer discovery interviews conducted
  +
# Future steps are mapped out
  +
# The final report is visualized clearly and transparent
 
'''Section 2'''
  
'''Section 2'''
  +
−
# Create your educational trajectory
  
−
# Create your professional trajectory
  
−
# Create your dynamic competence profile
  
 
'''Section 3'''
  
'''Section 3'''
  +
−
# Make a presentation of yourself: a) as a leader of your own life b) leader of your team c) leader of the positive changes
  
  +
'''Section 4'''
−
# Make a presentation of your “dream team”. Who will be in this team? Why? What are the values you all share? Why do people in the team can see you as a leader.
  
  +
  +
'''Section 5'''
  +
  +
'''Section 6'''
  +
  +
'''Section 7'''
  +
   
 
=== The retake exam ===
  
=== The retake exam ===
 
'''Section 1'''
  
'''Section 1'''
  +
# For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied.
−  
 
'''Section 2'''
  
'''Section 2'''
   
 
'''Section 3'''
  
'''Section 3'''
  +
  +
'''Section 4'''
  +
  +
'''Section 5'''
  +
  +
'''Section 6'''
  +
  +
'''Section 7'''

Latest revision as of 09:50, 29 May 2023

Market Research for IT Startups

  • Course name: Market Research for IT Startups
  • Code discipline:
  • Subject area: Technological Entrepreneurship

Short Description

This course is for students who see themselves as entrepreneurs. The course is designed for the early development of business ideas and provides methods and guidelines for business research. The course teaches how to assess the potential of business ideas, hypothesis thinking, methods for generating ideas and testing their quality

Prerequisites

Prerequisite subjects

  • N/A

Prerequisite topics

  • N/A

Course Topics

Course Sections and Topics
Section Topics within the section
Ideation tools
  1. Art VS Creativity
  2. Ability to discover
  3. How to generate ideas
  4. Creativity sources
  5. Ideation in groups
  6. Rules for ideation for startups
Market research content
  1. Types of research: primary vs secondary
  2. How to plan a research
  3. Market research chapters content
  4. Frameworks used in a market research (SWOT, Persona, etc)
  5. Tools and sources to conduct a competitors analysis
Customer development
  1. Interviews are the main tool for “Get Out The Building” technique
  2. The "Mum's Test"
  3. Jobs-To-Be-Done
  4. Good and bad interview questions
Market sizing
  1. Market analysis VS market sizing
  2. Sizing stakeholders and their interests
  3. Sizing methods
  4. TAM SAM SOM calculation examples
Data for a research
  1. Sources and tools for competitors overview
  2. Sources and tools for product and traffic analysis
  3. Sources and tools for trend watching
  4. Life hacks for search
Founder motivation
  1. Ways to Stay Motivated as an Entrepreneur
  2. Exercises for founders motivation
Pitch Day
  1. Market research results presentations

Intended Learning Outcomes (ILOs)

What is the main purpose of this course?

This course aims to give students theoretical knowledge and practical skills on how to assess market potential at an early stage of an IT startup (or any company) development. The ultimate goal is to teach students to conduct market research for their business.

ILOs defined at three levels

Level 1: What concepts should a student know/remember/explain?

By the end of the course, the students should be able to ...

  • Market research techniques using open data,
  • Typology of market assessment methods,
  • Types of research data and their application,
  • Market research components: competitors overview, value proposition, trend watching, venture status, business models, buyers profile etc

Level 2: What basic practical skills should a student be able to perform?

By the end of the course, the students should be able to ...

  • Methods of ideation,
  • TAM SAM SOM method, 2 approaches,
  • Applied tools and resources for market sizing,
  • Principles to work with business hypotheses

Level 3: What complex comprehensive skills should a student be able to apply in real-life scenarios?

By the end of the course, the students should be able to ...

  • Identify and describe the market
  • Assess market potential for any business idea
  • Conduct relevant market research before starting up a business
  • Use the most relevant and high-quality data for a market research

Grading

Course grading range

Grade Range Description of performance
A. Excellent 85.0-100.0 -
B. Good 70.0-84.0 -
C. Satisfactory 50.0-69.0 -
D. Fail 0.0-50.0 -

Course activities and grading breakdown

Activity Type Percentage of the overall course grade
Paper #0: Market research structure 0-10 scale (costs 10% final)
Paper #1: TAM SAM SOM 0-10 scale (costs 20% final)
Workshops activity 3 points for each of 7 workshops: 1 point=participation, 2 points=discussion, 3 points=valuable results (costs 21% final)
Paper #2: Market research 0-10 scale (costs 30% final)
Final Presentation 0-10 scale (costs 20% final)

Recommendations for students on how to succeed in the course

Participation is important. Showing up and participating in discussions is the key to success in this course.
Students work in teams, so coordinating teamwork will be an important factor for success.
Reading the provided materials is mandatory, as lectures will mainly consist of discussions and reflections not slides or reading from scratch.
The main assignment in the course is Market research paper which is supposed to be useful not only for this course but s a basis for future business oriented courses

Resources, literature and reference materials

Open access resources

  • - article with reflections on the methodology book on the 55 typical business models
  • - a book with instructions on how to communicate with your potential users. How to conduct interviews so that you understand what the client wants to say and not what you want to hear.
  • - the case book on the Jobs To Be Done. With JTBD, we can make predictions about which products will be in demand in the market and which will not. The idea behind the theory is that people don't buy products, but "hire" them to perform certain jobs.
  • A selection of with a summary of key ideas from Harvard Business Review
  • F. Sesno "" - the book on how to get information out of people through questions.
  • a visual guide book to dealing with your inner procrastinator

Closed access resources

  • Crunchbase.com
  • Statista.com

Software and tools used within the course

  • Boardofinnovation.com
  • Miro.com
  • Notion.com
  • MS Teams

Teaching Methodology: Methods, techniques, & activities

Activities and Teaching Methods

Teaching and Learning Methods within each section
Teaching Techniques Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7
Problem-based learning (students learn by solving open-ended problems without a strictly-defined solution) 1 1 1 1 1 1 1
Project-based learning (students work on a project) 1 1 1 1 1 1 1
Differentiated learning (provide tasks and activities at several levels of difficulty to fit students needs and level) 1 1 1 1 1 1 1
Contextual learning (activities and tasks are connected to the real world to make it easier for students to relate to them); 1 1 1 1 1 1 1
Business game (learn by playing a game that incorporates the principles of the material covered within the course). 1 1 1 1 1 1 1
inquiry-based learning 1 1 1 1 1 1 1
Activities within each section
Learning Activities Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7
Interactive Lectures 1 1 1 1 1 1 1
Lab exercises 1 1 1 1 1 1 0
Group projects 1 0 0 0 0 1 1
Flipped classroom 1 1 1 1 1 1 0
Discussions 1 1 1 1 1 1 1
Presentations by students 1 0 1 0 0 0 1
Oral Reports 1 0 1 0 0 0 1
Cases studies 0 1 0 1 1 1 0
Experiments 0 0 1 0 0 0 0
Written reports 0 0 1 0 0 1 0
Individual Projects 0 0 0 1 0 0 0
Peer Review 0 0 0 0 0 0 1

Formative Assessment and Course Activities

Ongoing performance assessment

Section 1

Activity Type Content Is Graded?
Discussion Difference between Art and Creativity. Examples from your personal experience
Tools to manage your attention: work with exercises above
Is it true that an ideation stage is the very first step to take when starting your own business? If not, what needs to be done before?
Idea diary: share your experience, was it useful? How to keep motivation to continue?
Sharing your business ideas: is it risky for a founder? Why?
Name and discuss principles of hypothesis thinking
Name and comment on ideation tool you know. Did you have an experience with it?
Where to take creativity? Your advice
Lets find examples of “Steal like an artist” approach among startups
Create a list of 5 business ideas you have ever had in your mind. Choose 1 and make an exhaustive list of the problems that are associated with the proposed business idea.		 0
Workshop Break into teams, choose from the list below 1 tool to work with. Use the templates to create new business ideas. Summarize the results. Share your results and experience of using the template with other teams 1
Exercise Start an "Idea diary" (not necessarily business ideas): create a convenient place for notes (notion, pinterest, instagram, paper notebook, etc.). Note the time/place/circumstances of ideas coming, learn to write down ideas. Draw conclusions from 1 week's work: where, when, how, why new ideas arise and whether you can manage their flow. 0

Section 2

Activity Type Content Is Graded?
Discussion What are the basic steps in market research?
What are the commonly used market research methods?
What research question types can be asked in surveys?
Should startup prefer primary or secondary research?		 0
Workshop SWOT analysis: compare your business idea with competitors and market situation
Get familiar with industry trends and reports: Find and create a list of 3 to 5 business research papers or trend reports in your industry		 0
Home written assignment Market research doc: create a structure that is:
1-2 pages long
Describes your business idea
Contains the structure of your future research
Contains a list of questions to answer during the research for each chapter proposed
Contains links and references to data sources potentilly interesting to use in a research
Its feasible: it should be a chance you may answer all the questions stated in the doc
The doc format is designed and well structured		 1

Section 3

Activity Type Content Is Graded?
Oral test Good or bad interview question?
Useful or useless feedback?		 0
Workshop Work on your customer profile using the Persona template. Make a client interview script with the help of the Problem-validation-script. 1
Case study Watch the video with the case study. This is an example of HOW NOT to take a customer discovery interview. Discuss what went wrong? 0

Section 4

Activity Type Content Is Graded?
Workshop Estimate your target market using the TAM-SAM-SOM template in MIRO. Explain the data. 1
Case study Learn a market sizing case: online babysitting service 0

Section 5

Activity Type Content Is Graded?
Workshop Use 3 tools from this lesson's theory that you are least familiar with or have not used at all. From each source, take one insight on the state of your project's market. (For example, the total size of your target market, a leading competitor, number of users, or a growing trend) 0
Oral presentation Take one tool from the list below and create a “how-to” guide to the service for your classmates. The guide could be done in a form of 1) video-instruction 2) text 3) visualized scheme 4) presentation. The guide must answer how to use a tool and give an example of its use on concrete case study. Studying the guide should take your reader not mach then 15 min. 1

Section 6

Activity Type Content Is Graded?
Workshop Exercises:
Personal SWOT Analysis
List of Personal Achievements
Analysis of Motivating Activities
Your Personal Vision		 0

Section 7

Activity Type Content Is Graded?
Pitch session The final Market Research report should follow the structure discussed
Content of the oral presentation may include: business description, market overview, main sources used in the research, competitors overview, monetization opportunity, market size, further stages of research or business work, team, comments on some challenges during the work		 1

Final assessment

Section 1

  1. For the final assessment, students should complete the Market Research paper.
  2. It should follow the market research paper structure, contain information about market volume (TAM SAM SOM), data must be gathered with help of data sources learnt.
  3. The paper should refer to market potential and give the basis to make business decisions, answer questions on how to start and develop your idea, what is your business model, target customer persona, product MVP etc.
  4. Grading criteria for the final project presentation:
  5. Market sizing has been carried out
  6. Customer segments are named
  7. Сompetitor analysis has been conducted
  8. At least 2 prominent data sources are used
  9. Customer discovery interviews conducted
  10. Future steps are mapped out
  11. The final report is visualized clearly and transparent

Section 2

Section 3

Section 4

Section 5

Section 6

Section 7


The retake exam

Section 1

  1. For the retake, students have to submit the results of the market sizing exercise with the TAM SAM SOM method in the form of a visual framework studied.

Section 2

Section 3

Section 4

Section 5

Section 6

Section 7

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