Ways To Conduct The Perfect “Lifestyle” Research
The best way to find out what customers need is to just ask them, right? According to tech visionary, Steve Jobs, the answer is a resounding no. Steve Jobs was adamantly opposed to creating products based on what consumers say they need. He said, “Some people say, ‘Give customers what they want.’ But that’s not […]
Insights Done Right: How Market Research Gave Lego a Facelift
Countless companies have been transformed by market research. As the consumer market grows in competition and diversity, market research has been a vital tool in pursuing new niches and improving products and services. One of the most standout examples of a company being transformed by market research is the beloved toy brand Lego. They were […]
Segmentation and Cluster Analysis: A Guide For Major Retailers
The world of market research allows companies to become familiar with a variety of different terms and tools that can help them make critical decisions in regards to product development, marketing, and strategy. Two of the notable are segmentation and cluster analysis. The following handy guide will help you understand segmentation and cluster analysis, why […]
The Rise of AI as a Service: What This Means for Market Research
Although it sounds straight out of a science fiction novel, the truth is that artificial intelligence is all around us, and most likely, involved in a lot of the different things you do every day. Artificial intelligence is especially useful in the world of market research. When employed as a standalone market research service, or […]
4 Ways You Can Increase ROI with Your Market Research Strategies
The relationship between research and revenue isn’t always as apparent as we’d like it to be. While it’s pretty much a given that the more insight you have into your target audience, the more likely you’ll be able to appeal to them, it’s tough to nail down exact ROI for your research strategies. Fortunately, there […]
How Target Audiences Have Shifted Over Time
At one point in time, there seemed to be a few products for a few audiences. As times have changed, history has been made, and new technology has emerged, the spectrum of target audiences have become more abundant, and infinitely more diverse. Perhaps the biggest reason why target audiences have shifted is the change in […]
How to Determine the Correct Sample Size for Your Market Research Projects
It’s no secret that in order to get the most out of market research, you’ll want to make sure you gather the data most reflective of your target audience. The simple and easiest way to do this is to ensure your sample is large enough to provide accurate insight. And luckily for you, there is […]
2 Critical Things You Need to Become a Customer Expert
Oh, how the times have changed. There once was a time where marketing consisted of making a good product, convincing people how great it was, and naturally dominating the market. Nowadays, as marketers, we have to do more. Much. More. The good thing about modern marketing is that we’ve stopped trying to sell to our […]
SWOT Analysis | How to Understand the Competitive Landscape
If you’re at all affiliated with marketing, or in any strategic role in your organization, then you’re probably all too familiar with a SWOT analysis. SWOT, an acronym for strengths, weaknesses, opportunities, and threats, is an easy to conduct analysis that helps you stop and strategize, no matter what phase of business growth you’re in. […]
Maximizing Your Spend Through TURF Analysis
It’s not a wild statement to say that market research is a bit slow to evolve. Although this has caused friction given the rapid growth in competition within the consumer market, some age-old market research techniques have withstood the test of time. One stand-out method of traditional data analysis is TURF. A TURF analysis is […]