Episode 4

Know your market

This lesson will help you to glean a deeper understanding of the market or sector your social enterprise will operate in. Using both primary and secondary modes of research, you'll consolidate more knowledge about the social issue you are approaching. Understanding the different levels of context your social issue is situated in will be essential to creating a successful social enterprise, both commercially and altruistically. From here, you'll be able to best figure out your pricing strategy, customer demographics and branding.

Social Entrepreneurs Discuss

Further Reading

They say three’s a crowd, but whoever said that hadn't used the SWOT, PESTLE and competitor analysis! These three principles are useful tools for understanding your market.  SWOT The SWOT analysis describes the internal and external Strengths, Weaknesses, Opportunities and Threats of a business. It’s a useful way of providing an overview of the benefits and challenges you have in the market. We recommend you approach the SWOT analysis from a micro and macro level. PESTLE PESTLE differentiat...

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The difference between qualitative and quantitative research is a fundamental distinction within research practice. This resource outlines how "qual" and "quant" data vary, and the implications for market researchers.
A PESTLE analysis is an audit of six external influences on an organisation: Political, Economic, Sociological, Technological, Legal, and Environmental.This video further unpacks the meaning of PESTLE and explores these influences.


The activities for today's lesson are blank templates for the analysis charts we've discussed. Fill these in to help you consider the overlapping and intertwining contexts your social enterprise is situated in, and what you can do to respond to these thoughtfully.

Episode Summary

So, this session focused on market research. We’ve looked into different types of research approaches and methods as ways to gather information about both your commercial and social missions. We appreciate that market research can be a bit dry, but doing it can help you begin to understand the commercial aspects of your business so that you don’t start trading or applying for grant funding without knowing your stuff!
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