The MaRS Discovery District will be hosting a lecture on market analysis as part of their Entrepreneurship 101 series that will help you learn about the target market you want to reach. Their January 12th free event will give you the tools to analyze and research the markets you wish to reach, and will delve into the PEST analysis and Porter’s Five Forces.
PEST analysis involves looking at Political, Economic, Social and Technological external environments where a company hopes to operate. PEST analysis can teach a company a lot about the challenges and opportunities a company faces in an environment coming from those four areas.
Porter’s Five Forces are a valuable way to examine the industry your company wants to compete in. By examining the power of buyers and suppliers, as well the rivalry between suppliers, the barriers to entry and the threat of one firm being substituted by another, the inherent requirements and problems of an industry can be viewed more accurately.
The seminar will be hosted by Usha Srinivasan, MaRS’ director of market intelligence. Srinivasan is a veteran market research analyst, and has worked for clients like GE, Siemens, Veolia, American Water, IBM, Honeywell and Brita.
For more information about Entrepreneurship 101, click here.