Market Research for Product Management

Welcome to Program: Market Research for Product Management by MTF Institute

Course goals:

• Equip with knowledge and skills for effective decision making during product management process

• Emphasise human-centric innovation and actionable insights for product development

• Multidisciplinary approach for innovation and product development

Course provided by MTF Institute of Management, Technology and Finance

MTF is the global educational and research institute with HQ at Lisbon, Portugal, focused on business & professional hybrid (on-campus and online) education at areas: Business & Administration, Science & Technology, Banking & Finance.

MTF R&D center focused on research activities at areas: Artificial Intelligence, Machine Learning, Data Science, Big Data, WEB3, Blockchain, Cryptocurrency & Digital Assets, Metaverses, Digital Transformation, Fintech, Electronic Commerce, Internet of Things.

MTF is the official partner of: IBM, Intel, Microsoft, member of the Portuguese Chamber of Commerce and Industry.

MTF is present in 216 countries and has been chosen by more than 720 000 students.

Course Author:

Dr. Alex Amoroso is a seasoned professional with a rich background in academia and industry, specializing in research methodologies, strategy formulation, and product development. With a Doctorate Degree from the School of Social Sciences and Politics in Lisbon, Portugal, where she was awarded distinction and honour for her exemplary research, Alex Amoroso brings a wealth of knowledge and expertise to the table.

In addition to her doctoral studies, Ms. Amoroso has served as an invited teacher, delivering courses on to wide range of students from undergraduate level to business students of professional and executives courses. Currently, at EIMT in Zurich, Switzerland, she lectures for doctoral students, offering advanced instruction in research design and methodologies, and in MTF Institute Ms. Amoroso is leading Product Development academical domain.

In synergy between academical and business experience, Ms. Amoroso achieved high results in business career, leading R&D activities, product development, strategic development, market analysis activities in wide range of companies. She implemented the best market practices in industries from Banking and Finance, to PropTech, Consulting and Research, and Innovative Startups.

Alex Amoroso's extensive scientific production includes numerous published articles in reputable journals, as well as oral presentations and posters at international conferences. Her research findings have been presented at esteemed institutions such as the School of Political and Social Sciences and the Stressed Out Conference at UCL, among others.

With a passion for interdisciplinary collaboration and a commitment to driving positive change, Alex Amoroso is dedicated to empowering learners and professionals for usage of cutting edge methodologies for achieving of excellence in global business world.

Market research is a vital process for product management. It involves gathering and analyzing information about:

• The overall market: This includes understanding market size, trends, and potential opportunities.

• Prospective customers: This involves identifying their needs, preferences, and pain points.

• Competitors: This means analyzing their strengths, weaknesses, and market positioning.

Here's a breakdown of why developing these skills is crucial for companies and the careers of managers and experts:

Importance for Companies:

• Product-Market Fit:

  • Market research helps companies understand if their products meet the needs of their target audience. This is essential for achieving product-market fit, which is a key driver of success.

• Informed Decision-Making:

  • By providing data-driven insights, market research enables companies to make informed decisions about product development, pricing, and marketing.

• Reduced Risk:

  • Understanding market trends and customer preferences can help companies mitigate the risk of launching products that fail to meet market demand.

• Competitive Advantage:

  • Analyzing competitors allows companies to identify opportunities to differentiate their products and gain a competitive edge.

• Customer Satisfaction:

  • By understanding customer needs, companies can develop products that provide value and enhance customer satisfaction.

Importance for Managers and Experts:

• Career Advancement:

  • Strong market research skills are highly valued in product management. Managers who can demonstrate their ability to gather and analyze data are more likely to advance in their careers.

• Improved Product Strategy:

  • Market research helps managers develop effective product strategies that align with market needs and business goals.

• Enhanced Decision-Making:

  • By developing market research skills, managers can make more informed and confident decisions about product development and marketing.

• Increased Product Success:

  • Understanding customer needs and market trends can help managers create products that are more likely to succeed in the marketplace.

• Greater understanding of customers:

  • Being able to empathize with customers, and understand their pain points, is a very valuable skill. Market research allows for the growth of this skill.

In essence, market research is a fundamental tool for product management, enabling companies to create successful products and helping managers and experts advance in their careers.