Insights - page 2
Some sixty years ago, Wendell R Smith developed the idea of segmenting consumers in a bid to better understand their purchasing patterns and motivations. Since then, the concept has become firmly entrenched in the fields of marketing and market research. As technology continues to revolutionize consumers’ shopping habits however, some are beginning to question whether segmenting consumers on the basis of demographics is still relevant today?
Market research can take a number of shapes and forms, from general market studies to employee or customer satisfaction surveys to feasibility studies and business plans, etc. Once the initial decision to conduct market research has been made, another key decision relates to whether the research should be conducted in-house or whether a third-party provider should step in.
In July 2016, an augmented reality game took the world and social media by storm. Launched by Niantic Labs, Pokémon Go became the most downloaded mobile app within the first week of its release in the history of the App Store. Twelve months on, no app launch has come remotely close to taking its place.
Although the terms research “panels” and “communities” are often used interchangeably, especially by those new to the market research field, these two tools do differ in important ways and one is often more appropriate than the other depending on specific research objectives.
An exploratory study is typically carried out when there is no clearly-defined problem or hypothesis. When properly conducted, good exploratory research can facilitate the discovery of new ideas and concepts. Often taken as a preliminary step within a wider research process, adopting an exploratory frame of mind can help deepen the findings of any qualitative research. Brands that are looking to conduct research that is exploratory in nature however, should be wary of three common pitfalls.
At one point in our lives, it is likely that we have all been asked to participate in a survey- be it online, face-to-face or over the phone. At one point in our lives, it is even likelier that we have rejected this request to participate in a survey. In light of this tendency for respondents to step away from requests to participate in research, GRIT recently undertook a comprehensive study to better understand the reasons behind this (and what could be done about it).
Brands have recently been experimenting with the distribution of market research surveys within display ads. At first glance, this would appear to be an innovative way for brands to ask questions in an online setting where the consumer is already engaged. However, upon closer look, the distribution of market research surveys within ads poses certain limitations.