Search Results for: market research

How to use psychographic segmentation in market research

How to use psychographic segmentation in market research

Audience segmentation is one of the most fundamental practices for brand marketers to position their products in the most accurate and cost-effective way for their target audience. While there are many ways to segment any given audience, psychographic segmentation is used to uncover the motivations, values, and desires influencing buying decisions—offering a substantial amount of insight into the drivers of consumer behavior across demographics.

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How to Build a Business Case for Agile Market Research

How to Build a Business Case for Agile Market Research

We’ve all experienced that moment when we present an awesome idea to our stakeholders – an idea that will inevitably save the company time and money and make our jobs so much easier – but it falls on deaf ears. 

So, how do you go from an idea that falls flat to stakeholders hoisting you up onto their shoulders in celebration of your brilliance? 

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Traditional vs. Agile Market Research: Which One is Right for Your Project?

Traditional vs. Agile Market Research: Which One is Right for Your Project?

You know that feeling when you have a list of project requests from various stakeholders that looks a mile long and you have no clue how you’re going to get it all done on time and within budget?

Maybe in the past, you’d automatically farm it out to a full-service market research firm. But times have changed. Priorities have shifted and purse strings have tightened.

Now, before making a move, you need to decide if that traditional MR firm can deliver the project in a timely fashion and do it cost-effectively. Most often, they can’t.

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Should Market Researchers Have a Seat at the Table? 8 Executives Weigh In

Should Market Researchers Have a Seat at the Table? 8 Executives Weigh In

Once viewed as data gatherers, market researchers have transformed into gatekeepers with key insights into a brand’s market, products, and more. You have a unique view into the lives of your company’s target audience. You collect the raw data, analyze it and provide insights into what the information means to critical stakeholders.

Based on this new, more modern role of market researchers, it’s no surprise that most people in a recent discussion noted that insights professionals should have a seat at the metaphorical table with key executives within the business.

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Why a Top 10 CPG Company Uses aytm for Agile, Iterative Market Research

Why a Top 10 CPG Company Uses aytm for Agile, Iterative Market Research

For a multinational, top 10 consumer goods corporation with a large multi-faceted research organization known for supplying a wide range of consumer goods, staying in lock-step with rapidly shifting consumer perceptions is imperative for success.

But like many enterprises, this CPG heavyweight used to outsource market research to a full-service firm. Traditional MR firms typically take upwards of 4-6 weeks from survey design and programming to fielding to reporting and analysis.

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What is Agile Market Research?

What is Agile Market Research?

The agile manifesto changed the way software was developed by taking an iterative approach. Rather than complete a major scope of work–and encounter inevitable delays and setbacks–agile developers push their work forward incrementally.

This results in a product that’s continually improved without being subject to the delays and setbacks that define traditional release periods. What’s more, the product is released sooner for a competitive edge in the marketplace.

By applying an agile mindset and the right tools to their work, market researchers can solve their most pressing pain point: a mismatch between customer research and product development that means lengthy reports frequently go to waste.

Let’s review what agile market research means and why it’s so important.

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Eradicating Inequality & Discrimination with Market Research

Eradicating Inequality & Discrimination with Market Research

In my previous post, I highlighted several startling facts about inequality and the lack of diversity in the US, which Melissa Gonsalves – Co-Founder & Director, Colour of Research (CORe) & Director of Strategic Insights at Differentology spoke about during her Insighter Virtual Conference session, ‘Equality in an Unequal World.’ 

Admittedly, the statistics are disparaging and dire. It’s clear that change is needed, but you may be wondering, ‘what can I do?’.  

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Market Researchers: Let’s Make Data Easy to Understand

Market Researchers: Let’s Make Data Easy to Understand

How do you relate to your colleagues on social media and inspire great conversations? Post a humorous yet powerful meme, make it relevant to your industry, pick a pain point, and BOOM. 

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DIY Market Research Conference 2019

DIY Market Research Conference 2019

In this session you will get real world practical advice from leaders in research who are successfully using DIY research technology to help drive innovation at their organization. You’ll learn how they integrated DIY platforms successfully into their ecosystem including how they selected vendors, “sold” the idea to procurement, overcame training challenges and were able to save money without sacrificing quality insights. Get a view into how DIY technology has shaped the way they approach research.

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Collect Qualitative Feedback in the Agile Market Research Realm

Collect Qualitative Feedback in the Agile Market Research Realm

Market researchers strive to connect their products to their target markets faster, especially in an economy where consumers want their products essentially on-demand. In order for businesses to stay relevant with target consumers, we make it easy and quick to collect qualitative data within a quantitative survey.  Instead of interviewing hundreds of individuals face-to-face for qualitative feedback or only collecting quantitative data, the AYTM platform has solutions that give you richer insight into your consumer profiles and can support companies being more responsive to their market. 

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The Evolution of Market Research: Market Research in the New Age

The Evolution of Market Research: Market Research in the New Age

As we’ve discussed in part one, The Evolution of Market Research: The Dawning of the Digital Age, and part two, The Evolution of Market Research: Automation Improves Efficiency of this series, the digital age has changed market research data collection dramatically, effectively eliminating the need for interviewers and data entry resources from the process in most quantitative survey research, saving both time and money.

But it is still evolving and the next wave of changes may even be more radical. Consumers leave data trails everywhere they go without answering surveys.

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The Evolution of Market Research: Automation Improves Efficiency

The Evolution of Market Research: Automation Improves Efficiency

My first post on the evolution of Market Research to the digital world described online research being a game changer in terms of saving time and money vs “traditional” methods, particularly in the realm of quantitative research. But even as online research became a $3 billion industry, and overtook all other modes of quantitative research within only 10 years after the introduction of web-based surveys, it was really only the beginning of the impact this new technology would eventually have.

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Victoria’s Secret Jumps Back into the Pool: How Brands Can Use Market Research to Thrill Their Customers

Victoria’s Secret Jumps Back into the Pool: How Brands Can Use Market Research to Thrill Their Customers

What do a bikini, a bath bomb, a fruity cereal, and a funny TV show about cops have in common? They were gone and now they are back due to the power of customer feedback.

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The Evolution of Market Research: Dawning of the Digital Age

The Evolution of Market Research: Dawning of the Digital Age

Market research has been around for centuries but has been commercially used to understand how to motivate consumers since early in the 20th century. Some pioneers of the industry, like Daniel Starch and George Gallop, came from academia, while others, like A.C. Nielsen, had backgrounds in other industries.

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Getting the Most from Your Market Research Project

Getting the Most from Your Market Research Project

In a society where companies are accelerating the release of new products and services, there is more pressure than ever for market research teams to deliver meaningful data quickly and on a tighter budget, in every phase of the research process.

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Artificial Intelligence and Market Research

Artificial Intelligence and Market Research

The potential of artificial intelligence (AI) in the market research industry is its ability to be used as an instrument to conduct research better, faster, and in some scenarios cheaper.  For this reason, artificial intelligence technology has infiltrated many industries, including marketing and advertising.

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Market Research: How to Get Started

Market Research: How to Get Started

For a business to truly prosper there must be an extensive knowledge of both customers and competitors. Market research is the method in which information is gathered to help companies become more aware of their customers perceptions regarding current or potential products and services.

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Using Automation in Market Research

Using Automation in Market Research

“Better, faster, cheaper”

It’s an expression that has made its way through the market research industry and often a standard for end users. Much like the rest of the global economy, market research is evolving and reinventing itself to cater to the demands of clients that need strategic insights fast. While folks in the market research industry have focused on meeting ever-growing client demands, new technologies have emerged to automate research activities and revolutionize the approach to market research entirely.

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Using Market Research For Brand Strategy

Using Market Research For Brand Strategy

Market research is an essential step when attempting to determine how your brand performs among your consumer base. In addition to market research, ensuring that your product or service will meet the demands of your target market, can extend past the general façade of marketing and affect your brand position entirely. The key to having a prosperous brand is using market research to help define a brand strategy through the insights that research data provides.

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What is Market Research?

What is Market Research?

Market research is a systematic practice of assembling, examining, and interpreting data collected about a target market to better understand the needs of such people or companies. The groundwork of any prosperous company starts with market research as it can be used for various purposes such as, identifying a new market or launching a new business. The data output of market research can help business owners make educated decisions about business tactics, operations, and a potential consumer base. Overall, market research can help ensure that a business functions more efficiently and markets the company more effectively.

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How to Use Market Research for Advertising

How to Use Market Research for Advertising

More frequently than not, companies will launch advertising campaigns before testing their marketing content. On the surface, forgoing market research to preserve budget may make sense, but only if the advertisement campaign proves to be effective. It is rare for a product to sell itself without any advertising involved.

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Psychographics in Market Research

Psychographics in Market Research

Demographic data is an important aspect of targeting criteria, but they won’t always provide a complete understanding of your target audience. Typically, it is of interest for researchers to better understand the values, opinions, and beliefs that act as explanations of consumer behavior. Luckily, the collection of psychographics can help market researchers achieve such understandings. Where demographic data will explain who the buyer is, while psychographic data will explain why they buy.

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Product Testing Methods in Market Research

Product Testing Methods in Market Research

Whether you are testing a new product, packaging idea, creative design, or any other type of stimulus, you have probably been conflicted with which testing method is best. As in most research ventures, the optimal solution will vary based on the number of concepts you are testing, your budget, and your research objectives. There are many product testing design variations to address your unique situation.

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Using Cluster Analysis for Market Research

Using Cluster Analysis for Market Research

In its most general definition, a cluster is a group of similar things or people positioned or occurring closely together.  In market research, a cluster is a collection of data objects that are similar and dissimilar to each other. The primary objective of cluster analysis is to classify objects into relatively homogeneous groups based on a set of variables considered.  These variables (demographics, psychographics, buying behaviors, attitudes, preferences, etc.) can be chosen according to the market research objectives; which problems are needing to be solved and which hypotheses need to be proven or debunked.

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Market Research Success with Culture

Market Research Success with Culture

Today we are living in an experience economy. Meaning that, a broad scope view of the marketplace supports the reality that consumers are after experiences more than ever before.  This definition of experience stretches further, into things like experiencing cultural connection. People defining themselves less by things that they have and more by their thoughts, passions, causes they support, and communities they are a part of. As a result, many brands feel an unprecedented pressure to deliver on this shift in order to survive, but more importantly to grow. This new challenge is about creating cultural value, and it requires a combination of market research, cultural marketing, and embracing change. Let’s explore cultural marketing and why it is a critical component to a successful brand in today’s world.

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