151 Posts Found

Understanding how a person wants to view themselves is actually incredibly valuable. It tells you a lot about how you can mirror that feeling back to them with your product while still satisfying their actual preferences.

Content: Quotation | Author: Jane Davis | Source: First Round Review | Subjects: Customer Related, Market Research, Market/Investment

Understand the why and the how behind user behaviors, identifying which ones actually demonstrate value and which ones are potential leading indicators of a broken experience.

Content: Quotation | Author: Jane Davis | Source: First Round Review | Subjects: Customer Related, Market Research

You can’t rely on your customers to figure out what to build. They can really only tell you what outcomes they’re looking to achieve.

Content: Quotation | Author: Ryan Glasgow | Source: First Round Review | Subjects: Customer Related, Innovation, Market Research

Audience analysis is the assessment and identification of interests, attitudes, preferences, behaviors, demographics, needs, and other data points of a particular group. In a business setting, audience analysis allows businesses to understand current and potential customers.

Here’s how to conduct audience analysis effectively.

Content: Article | Author: Carlos Serra | Source: MarketingProfs | Subjects: Market Research, Marketing / Sales

Stepping back to understand deeper context and underlying motivation is important because people are notoriously bad at predicting what they want.

Content: Quotation | Author: Sunita Mohanty | Source: First Round Review | Subjects: Market Research, Marketing / Sales

You will do market research, but that comes later. Before trying to figure out how big your market is, you need to know that people have accepted and will continue to accept the gist of your value proposition. Otherwise, you’ll be piling assumption on top of assumption.

Content: Quotation | Author: Randy Komisar | Source: Inc. Magazine | Subjects: Entrepreneurship, Market Research, Marketing / Sales

Don’t take a lack of external data as an impediment—it may actually be a gift, since purchasable data is almost always from a conventional way of meeting needs, and is available to your competitors too. Your own experiments allow you to generate your own data; this gives you insights that others don’t have. If it is difficult (or unethical) to experiment, look for the “natural … [ Read more ]

Content: Quotation | Authors: Charles Conn, Robert McLean | Source: McKinsey Quarterly | Subjects: Market Research, Marketing / Sales

In my work as an angel investor and advisor, I often find myself dishing out the same advice: Do the work to make sure you are building a product that people will actually find valuable. That requires an incredibly deep understanding of the user, their hopes, and their motivations, instead of taking the easier path of operating off of untested assumptions.

Many entrepreneurs may do this … [ Read more ]

Content: Article | Author: Sunita Mohanty | Source: First Round Review | Subjects: Entrepreneurship, Market Research, Marketing / Sales, Project Management

By gauging consumer sentiment, you’re not guessing what consumers want and tweaking prototypes. Rather, you’re either validating or disproving your assumptions with data that’s already in the marketplace. Compared with surveys, focus groups, and other traditional methods of obtaining customer feedback, sentiment analysis generates better insights faster, allowing you to incorporate those insights into product design more quickly. By shortening the product development cycle, you … [ Read more ]

Content: Quotation | Authors: Bharat Kapoor, Scott Tsangeos | Source: Kearney | Subjects: Customer Related, Market Research

Long before people began plastering their likes, dislikes, loves, hates, thumbs up, and thumbs down across the Internet, companies relied on focus groups and surveys to gauge what consumers thought about their products

Content: Article | Authors: Bharat Kapoor, Scott Tsangeos | Source: Kearney | Subject: Market Research

Take a look at some of the best market research tools to see how each one can help you understand the market and ensure that you come out a winner.

Content: Article | Author: Aleh Barysevich | Source: MarketingProfs | Subject: Market Research

Your alpha group is the one that already loves you, that would even love your MVP. It’s your mom who will love anything you make. On the other end of the spectrum, your GA is far more skeptical. Your GA is much harder to please. Their trust is hard to earn and even harder to regain once lost. Your beta is your sweet spot for … [ Read more ]

Content: Quotation | Author: Jiaona “JZ” Zhang | Source: First Round Review | Subjects: Customer Related, Market Research, Project Management

Say you’re trying to test whether people like pizza. If you serve them burnt pizza, you’re not getting feedback on whether they like pizza. You only know that they don’t like burnt pizza. Similarly, when you’re only relying on the MVP [minimum viable product], the fastest and cheapest functional prototype, you risk not actually testing your product, but rather a poor or flawed version of … [ Read more ]

Content: Quotation | Author: Jiaona “JZ” Zhang | Source: First Round Review | Subjects: Customer Related, Market Research

Dreaming of launching a course or digital product? Try this easy 4-step process to validate your digital product idea before you launch.

Content: Article | Author: Taylor Barbieri | Source: MeetEdgar | Subject: Market Research

Your challenge is to create product experiences for two different mindsets, one for your potential customers and one for your engaged customers. Initially, if you want your prospective customers to engage, think of them as lazy, vain, and selfish. Then for the customers who survive the first 30 seconds and actually come through the door, build a meaningful experience and relationship that lasts a lifetime. … [ Read more ]

Content: Quotation | Author: Scott Belsky | Source: First Round Review | Subjects: Customer Related, Innovation, Market Research

A lot of founders will go to customers and say “Hey, would you want to use this?” And customers will say “That’s great, we’d love to use it.” And so the founders go off and build it, but when then they come back with a product, no one’s using it. That’s because what they should have asked is, “Would you pay for this?” Being interested … [ Read more ]

Content: Quotation | Author: Elad Gil | Source: First Round Review | Subjects: Customer Related, Entrepreneurship, Market Research

Teamwork is supposed to be about the efficient allocation of resources. And it’s no secret that teams can be bureaucratic, frustrating, and costly. So it is the leader’s job to figure out when it’s appropriate to deploy more than one employee to a task. After all, if an assignment can be efficiently completed by an individual, then creating a team to take it on is … [ Read more ]

Content: Quotation | Author: Brian Fielkow | Source: Ivey Business Journal | Subjects: Market Research, Organizational Behavior, Teamwork

If you want to understand the future, just look at what rich people do today.

Content: Quotation | Author: Hal R. Varian | Source: Medium | Subjects: Future, Innovation, Management, Market Research

People are stuck between focus groups on the one hand and the Steve Jobs approach (“I will know what customers need before they know it themselves”) on the other. The Jobs way is compelling, but it’s risky. The challenge is the journey from today’s customer, whom most companies understand well, to tomorrow’s customer, whom they don’t.

Content: Quotation | Source: McKinsey Quarterly | Subjects: Customer Related, Market Research, Marketing / Sales

Early adopters get most of the attention from analysts and marketers, but focusing on consumers who are resistant to innovations is another way to bring new products to market.

Content: Article | Author: Matt Palmquist | Source: strategy+business | Subjects: Customer Related, Innovation, Market Research, Marketing / Sales