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
During a typical customer research process, we will interview customers and might ask them questions like these. All of these questions are customer and product discovery questions, almost identical to the ones product managers use to understand if the company has unlocked product-market fit. In addition, these interviews surface insights about marketing positioning and true perception in the market; customer support effectiveness; overselling; and product … [ Read more ]
Content: Article | Author: Tomasz Tunguz | Subjects: Customer Related, Market Research
Online consumer feedback is growing exponentially and contains invaluable information about not only what consumers think of products and brands, but also about what they expect from a product. Some businesses view the vast amounts of online feedback about their products and services in a reactive light. Each positive review is a pat on the back that need not be investigated further; while each negative … [ Read more ]
Content: Article | Source: Accenture | Subjects: Customer Related, Market Research, Marketing / Sales
What do Porsche fanatics, a video game hater, and a person who cooked two weeks’ worth of meals in a rice cooker have in common? They are all “extreme consumers”—those whose tastes are so out there that mainstream market researchers tend to dismiss them as “noise” when trying to figure out how typical consumers think.
That’s fine if you only want to keep making incremental improvements … [ Read more ]
Content: Article | Authors: Jill Avery, Michael I. Norton | Source: Harvard Business School (HBS) Working Knowledge | Subjects: Customer Related, Market Research, Marketing / Sales
If these “harbingers of failure” love what you do, you are in trouble.
Editor’s Note: This is one of the more interesting pieces of research I have read about in a while. Based on the work of Eric T. Anderson, Song Lin, Duncan I. Simester and Catherine E Tucker
Content: Article | Author: Jessica Love | Source: Kellogg Insight | Subjects: Customer Related, Market Research, Marketing / Sales
The authors of a new book on market research explain how a shift in consumer decision-making affects marketing.
Content: Article | Authors: Emanuel Rosen, Itamar Simonson | Source: Stanford University | Subject: Market Research
Forget online surveys and dinnertime robo-calls. A consulting firm called ReD is at the forefront of a new trend in market research, treating the everyday lives of consumers as a subject worthy of social-science scrutiny. On behalf of its corporate clients, ReD will uncover your deepest needs, fears, and desires.
Content: Article | Author: Graeme Wood | Source: The Atlantic Monthly | Subject: Market Research
“Big data” can drive competitive advantage if companies follow a few timeless principles.
Content: Article | Author: David Meer | Source: strategy+business | Subjects: IT / Technology / E-Business, Management, Market Research
How conjoint analysis, a tried-and-true market research tool, can be used to support organic growth.
Content: Article | Author: David Meer | Source: strategy+business | Subjects: Customer Related, Market Research, Marketing / Sales
There is a better way to determine how many—what portion—of your customers were satisfied. Time and again studies have shown that customer loyalty is fleeting for all but the most satisfied of customers, because any customer who is not “completely satisfied,” is dissatisfied to some degree, and/or with “something.” That “something” is the “crack in the door” through which competitors can sneak and steal your … [ Read more ]
Content: Article | Author: John Mariotti | Source: OPEN Forum (American Express) | Subjects: Customer Related, Market Research, Marketing / Sales
Let’s face it: All too often, life is a succession of hassles. There’s an endless array of frustrations, inconveniences, complications, disappointments, and potential disasters lurking in most of our daily experiences. Even very good products and services (we’ll call them simply “products” for simplicity’s sake) have their weaknesses and drawbacks. My new smartphone sometimes drops my calls; my favorite hotel chain sometimes loses my reservation; … [ Read more ]
Content: Article | Authors: Adrian J. Slywotzky, Karl Weber | Source: ChangeThis | Subjects: Management, Market Research, Marketing / Sales
Dan Heath and Chip Heath explain why it’s not enough to give people something they need.
Content: Article | Authors: Chip Heath, Dan Heath | Source: Fast Company | Subjects: Market Research, Marketing / Sales
Twitter gets much more interesting and useful when you can filter out 99% of the junk that doesn’t apply to your objectives and focus on the stuff that matters.
The basic search.twitter.com functionality is fine for searching things that are being said about your search terms. The advanced search function offers more ways to slice and dice the stream, but still leaves some room for improvement … [ Read more ]
Content: Article | Author: John Jantsch | Source: OPEN Forum (American Express) | Subjects: Market Research, Marketing / Sales
Data from mixed-mode questions are hard, if not impossible, to interpret accurately.
The first part of this article will give an example of a mixed-mode question and an analysis of how to interpret the results that such as question would produce. As you will see, mixed-mode questions, or scales, should be avoided.
The second part of this article will explore the problem of mixed-mode scales further and … [ Read more ]
Content: Article | Author: Carey V. Azzara | Source: MarketingProfs | Subject: Market Research
Understanding customer behavior is key to creating marketing campaigns that generate high response and revenue.
One of the best ways to understand customer behavior is to study customer migration patterns—to learn when and why a customer ends up in a segment different from the one he or she had been in.
The starting point for those studies is your customer-segmentation model. After you decide which approach to … [ Read more ]
Content: Article | Author: Mark Klein | Source: MarketingProfs | Subjects: Market Research, Marketing / Sales
It can be a powerful weapon in any company’s strategic planning arsenal. But it can also backfire. Steve McKee offers five essentials to consider.
Content: Article | Author: Steve McKee | Source: BusinessWeek | Subject: Market Research
What happens immediately after a customer uses your product? Knowing the before and after around how your products are used will help you sell more — and build better future products.
Content: Article | Author: Sean Silverthorne | Source: BNET | Subject: Market Research
Five practical approaches to get closer to your buyers.
Content: Article | Author: Stuart Cross | Source: BNET | Subjects: Customer Related, Market Research
Ask any statistician and they’ll reel off a list of reasons why two surveys can give completely opposite results.
But whether it’s differences in the sample, the questionnaire or the interpretation, the fact is that many businesses, especially large ones, put significant store by their customer measures.
But are we just kidding ourselves? Can we really measure customer experience objectively? In short, that depends on the questions … [ Read more ]
Content: Article | Author: Martyn Drake | Source: BNET | Subject: Market Research
Most companies use a crude approach to gathering vital customer data. Does this describe you?
Content: Article | Author: David Jackson | Source: MarketingProfs | Subjects: Market Research, Marketing / Sales