Nemanja Jovancic
Sep 02 2020
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Launching a new product? Considering whether you should offer new services or tweak the current ones? Such moments can be challenging both for established brands and those just trying to break into the market.
Whenever you have something new to offer to your customers, there are numerous factors to be taken into account if you want to make well-informed decisions that would increase the chances of a successful launch, instead of stumbling in the dark and hoping for the best.
This is where consumer research kicks in.
Consumer research is the aspect of market research that focuses on identifying the motivation, preferences, and purchase behavior of (potential) consumers.
Companies rely on consumer research to analyze and better understand consumer psychology so as to improve their products or services, making them more customer-oriented, and ultimately increasing customer satisfaction and the number of sales.
Having a deep understanding of consumer decision-making and purchase behavior allows brands to build products that will find their market fit more easily, put the optimal price tag onto them, and establish the right distribution and promotion channels.
Let’s say a beauty industry company wants to launch a new skincare product. In order to de-risk their production and product placement, they could launch a skincare quiz to find out what it is that their consumers actually need:
And then they could do additional market research to find out more about their ideal customer’s demographics and purchase habits. Conducting this kind of consumer research is expected to facilitate a successful launch for the new product and ensure that there’s actual demand for such a product on the market.
Before we dig any deeper into consumer research, here’s a survey template you could easily use to do your own market research.
Just here for an easy way to conduct your own consumer research? No worries, we’ve got you covered – grab this market research template and learn more about your consumers right now.
If you would like to learn more about how and why you should conduct the research using the template above, keep on reading.
Often, people do research just because they’ve been told to do so. But if you’re looking to better understand your consumers and their needs, you need to know why you should be conducting consumer research in the first place. Even though there are plenty of benefits, here are the top three I’d like to point out:
No matter how good you think your products or services are, there’s a fair chance you’re not completely objective nor representative of your ideal target consumer.
When launching a new product, there’s a lot of investments going around and, naturally, you’d expect adequate ROI. However, if there’s not enough market potential, your investment might fail. This is where consumer research kicks in.
Another important benefit of conducting consumer research is the ability to identify and analyze your target customers. In other words, this allows you to determine who might be interested in buying your products or using your services.
For example, you can use a demographic survey to obtain various information on your customers such as age, gender, geographic location, employment, marital status, and more. Or you can rely on different types of market segmentation to reach your ideal customer. This would allow you to customize your marketing efforts to better appeal to particular customer sets.
Finally, consumer research can help you obtain valuable feedback on your current business offer. Such feedback can help you update or improve your current products based on the valuable information from the actual consumers.
Getting feedback is important because it helps brands and businesses better understand the consumers’ standing point and come up with an improved product that would help address the challenges they’ve been having and fully meet the actual market needs and requirements.
There are two main types of consumer research – quantitative and qualitative . Both types rely on different research techniques that we’ll explore in more detail down below.
By 2025, the global data pool is expected to rise up to 175 zettabytes . That’s why meaningful data has become more valuable than ever and the way companies collect data can either make or break their business success.
Quantitative research is a data collection method that revolves around numbers and stats. It’s an essential part of consumer research that can provide businesses with measurable data on their customers. Such data can be mathematically and statistically analyzed in order to gain more insight into consumer behavior.
The most effective and most popular techniques for obtaining quantitative data are different types of online questionnaires such as surveys and polls.
Nowadays, the easiest way to obtain consumer data is through online surveys, questionnaires, and polls. Thanks to highly-advanced and intuitive survey tools , it’s now easier than ever to create your own data collectors, either from scratch or using professionally written templates.
All the LeadQuizzes users, for example, gain free access to 78 professionally written and beautifully designed survey, quiz, and form templates. This includes market and consumer research survey templates such as the ones shown in the image below:
To access the LeadQuizzes templates, just log in to your account (or sign up for a free trial if you don’t have an account yet) and select your preferred template from the selection of pre-made templates . You can use the templates as they are or easily customize them to meet your specific needs.
One of the easiest ways to obtain quantitative customer data is by using an NPS (Net Promoter Score) survey . This customer research technique allows you to easily evaluate the satisfaction of your current users and express it through numbers for easy analysis. With just one single question – “How likely are you to refer our business?” – you can easily measure consumer satisfaction and loyalty.
To preview (or use) an NPS survey template, just click on the image below:
Unlike quantitative research, which relies on numbers, qualitative consumer research is descriptive in nature. To obtain qualitative data, you need to be using open-ended questions with no predefined answer options. While this means that you can still be using online surveys to obtain qualitative data as well, there are a few more options to choose from.
A focus group is a small group of people who are experts on a particular subject matter and whose job is to analyze a particular aspect of consumer research – e.g. a new update, feature, product, and so on.
Ideally, focus groups contain somewhere between 3-10 people, including an obligatory moderator. Depending on the research topic and goal, the members of a focus group should be brought together around certain common denominators.
For example, if you’re doing research on the use of birth control pills, all the members of your focus group need to be sexually active females. The remaining parameters like age, education, employment, and so on, may or may not be relevant here.
In most cases, this is a conversational method that presupposes an interviewer and an interviewee. During this type of consumer research, the researcher (the interviewer) asks questions (that are equivalent to the open-ended survey questions) related to products and services.
There are two main limitations to this method. Firstly, it’s very time consuming and might become overwhelming if you have to interview an excessively large number of consumers. And secondly, it very much relies on the researcher’s expertise and ability to extract the relevant information from interviewees.
This type of consumer research could also be described as content or text analysis but, in recent years, it primarily refers to the analysis of consumer behavior on social media. Here, the researchers analyze consumers’ social life by decoding their social media posts and interactions to draw inferences related to their consumer behavior and habits.
Above, we’ve introduced you to consumer research – what it is, why you need to conduct it, and what are some of the best ways to do so. Once you’ve managed to conduct your research, gather the necessary data, analyze it, and come to certain conclusions, you should have a better insight into the exact needs and pain points of your customers.
This will allow you to adapt your business, update, tweak or completely revamp your products and services, and develop a better marketing plan that would allow you to attract more consumers, determine the optimal price, increase the number of sales, and reduce costs.
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Getting started with research.
9 steps to execute that will help you develop an effective search. Planning your search before using library resources is an efficient way to get better results. Click the link below:
There’s a lot of debate about what it takes to create scroll-stopping ads and award-winning campaigns, but here’s one truth we’ll always stand by:
Market research is the backbone of every successful strategy.
When you know how to do market research, you have the power to understand consumers and make data-led decisions with confidence. Without the right data to light the way, you’re just aiming for your target audience in the dark. But let’s back up.
The key to conducting market research is not only having the right market research tools to do the heavy lifting for you, but understanding what it is, why you need it, and how you can use it to take your business to the next level.
Market research is the organized gathering of information about target markets and consumers’ needs and preferences. It’s an important component of business strategy and a major factor in maintaining competitiveness.
Not sure if market research is something you need? Think of it like a compass. It’s what guides you through the maze of consumer behavior, so you can drive growth, maximize ROI, and sharpen your competitive edge. It doesn’t matter if you’re a small business just getting on its feet or a successful brand trying to step up its game, really getting to grips with who it is you should be targeting is always a good idea.
You can use market research to improve your products, services, and messaging to make sure you’re always ahead of the curve.
It’s not just about understanding the here and now. It’s your crystal ball to help you spot big trends , fresh opportunities, and areas for innovation before it’s too late.
Market research isn’t a one-size-fits-all solution. There are different ways to gather insights, each with their own strengths. Let’s dive into the main types of market research .
This method uses surveys, interviews, or focus groups to gather first-party data and insights directly from the source – your target audience. It’s also known as field research, as it involves conducting and analyzing the data yourself. This type of traditional market research is usually quite expensive and super time-consuming.
Unlike primary research, secondary research uses existing third-party data collected by others like reports, studies, and stats that are available to the public.
Qualitative research explores the why behind consumer behaviors through open-ended questions. This is a great option when you’re looking for answers about experiences and feelings, rather than just a simple yes or no answer or numerical data. Qualitative questions help you learn more about people’s experiences and perspectives, so rather than asking “Do you use social media?”, you’d ask “What are your favorite social media platforms?” and “What are your reasons for using them?” instead.
Quantitative research uses statistical data to zero in on patterns and trends through closed-ended questions. Questions can be yes or no like “Do you shop at discount stores?” or questions with a numerical answer like “How many times have you used our new product in the last month?”
This type of research delves into the lifestyles and behaviors of your target audience to give you a deeper understanding of who they really are. By using both qualitative and quantitative methods, you get the full picture of what they like, what they do, and what they want from brands, so you can personalize your marketing strategies.
Brand research is your key to gauging brand awareness, loyalty, and overall brand health through the eyes of consumers. It involves collecting and analyzing data on brand performance, perception, and positioning in the market.
This type of research gives you insights into product demand, features, and pricing. It involves gathering and analyzing information about your product’s market potential, performance, and user experience before launching.
Choosing the right market research platform is critical if you want to get a deeper understanding of the consumers, competitors, and markets you want to target. These are some things to consider before you take the plunge:
Having crystal clear goals about what you want to get out of your market research and how your chosen platform can help you reach them is essential. Make sure you’ll have access to the data coverage you need, will be able to get the right level of detail, and get the research back in the right time frame. This is what will guide all of your efforts.
Do you know who you want to connect with? Knowing your target audience is a non-negotiable if you want to ensure your messaging aligns with their preferences and behaviors. The right platform will have lots of info on your target audience, make it super easy to get the insights you need, and help you identify new markets in a flash. Bonus points if you can build customizable audiences like you can with us.
Picking the right research methods – whether that’s surveys, focus groups, or bespoke reports – will help you get the most relevant insights for your business. Pay special attention to how the research is collected, how reliable it is, and how often new waves are released.
There are lots of market research companies to choose from, but it’s important to pick a research tool that not only suits your needs, but offers actionable insights – and fast. The best platforms give users of all levels the power to self-serve insights so you don’t have to be an expert to grab the data and go.
Our global, on-demand platform is accessible to everyone – not just data experts. Even if you don’t know how to do market research, you can still get to those valuable insights that make a difference. But you need a game plan to make sure you get exactly what you need. Here’s a blueprint you can follow if you’re not sure what steps to take.
Start by pinpointing specific challenges you want to improve – whether that’s combatting low sales, improving poor ad performance, or launching a new product. Some of the biggest brands use GWI to grow their audience, enter new markets, create products consumers will love, and outshine the competition.
Next, hone in on what success looks like for you by setting specific, measurable goals with a definitive time frame. This will help you get a clear picture of how the platform can help you and where you should focus your efforts. Here are some of the key uses we can help with:
Dive into the platform and start building your audience by picking the data set you want to use. With our flagship data set, you can explore 250,000 profiling points across 50+ markets to apply to your audience, covering key areas like demographics, lifestyle habits, and purchase behaviors. Want to dive even deeper? Add more data sets to hone in on your perfect audience.
After saving your audience, you can apply it to different question charts to help you uncover new things about your audience, and point you in the right direction for the next step.
Once you have the data you need, you can collate and export it into a shareable dashboard to get a bird’s-eye view of who you’re targeting before digging even deeper. This is where you can spot key insights you need for your strategy. Look for patterns, compare and contrast audiences, and even track trends over time.
Short on time? Take advantage of our built-in AI features that allow you to create charts on the fly with instant charts , and quickly generate top data points using instant audience insights .
And for an even deeper view, you can use our API to blend our data with your own, allowing you to get even more granular in your research.
Once you have the data you need to refine your targeting, optimize messaging, and stand out from the competition, you can start building the perfect strategic plan. You’ll know exactly who you’re talking to, what they want to see, and how you can deliver.
GWI’s audience activation lets you push look-a-like audiences based on GWI data directly into whatever platform you’re activating your digital campaign in, including Meta, Google, TikTok, LiveRamp, The Trade Desk, and many more.
Now’s your time to shine with insights that help you turn a hunch into your next big idea. You’re ready to create world-class campaigns, ads, or products that resonate with your audience, and make decisions with confidence.
Need some inspo? Here are some examples of what data-driven success looks like with GWI.
With GWI Custom , we offer bespoke recontact surveys, analytics, and solutions to meet your unique needs. Our experts take care of the details from decks and infographics to white papers and custom dashboards. Whether you want an in-depth exploration of industry-specific insights or just want even deeper data on your target audience, we can help.
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Every business has questions about its audiences, GWI has answers. Powered by consistent, global research, our platform is an on-demand window into their world.
Consumer research plays a very important aspect, especially when a company decides to launch a new product into the market. Companies conduct market research to better understand the consumers, their needs and their satisfaction level.
After conducting various surveys and focus groups, companies analyze the consumer data and then make recommendations based on the results.
The following illustration explains the consumer research process −
The first step in the consumer research process is developing the research objectives which involves defining the purposes and objectives to ensure an appropriate design. A statement of objective helps to define the type and level of information needed.
There are two distinct sources of secondary data − internal and external. Always seek internal sources first. Most go straight to Google without considering the fact that data might exist within the organization itself. This can sometimes be in the ‘heads’ of the personnel.
External sources are numerous. Consumer Generated Media (CGM), especially, has grown in importance as a data source. The key is to avoid spending too much time following ‘blind alleys’. This is where the time and cost can escalate sharply.
Primary research is basically the original research. Here you yourself collect the information through various tools available. In primary research, you don’t tend to depend on any third parties. You may conduct interviews or surveys, observe, or even directly go to the object for collecting information.
A quantitative research study is comprised of research design, the data collection methods, instruments to be used, and the sample design.
Following are the three basic designs or approaches used for quantitative design −
Observational Research − In this method of observational research, the people or customers are observed effectively when they purchase a particular product. It helps the researcher to gain in-depth understanding of the relationship between the people and products by observing them while purchasing and using the product.
Experimentation − Experimentation is a type of research where only certain variables are manipulated while others are kept constant in order to encourage the change in the constant variable
Surveys − A survey is a method of research in which an interviewer interacts with respondents to obtain facts, opinions and attitudes.
Following are the various survey methods which are generally used −
Questionnaire and Attitude Scale − For quantitative research the primary data collection instrument is a questionnaire and the most frequent one is attitude scale which is used to capture evaluative data.
Following are the important methods of data collection in the qualitative design techniques which are used in the initial stages of research.
In-Depth Interview − Depth interview is conducted in length and in a non-structured manner where the interviewer is highly trained and minimizes his own participation in the discussion once the general subject is discussed.
Focus Group − Focus group involves many respondents who interact with the analyst in a group discussion and focuses on a particular product.
Projective techniques are best used to understand the motives of people when they are unconsciously rational.
The analyst generally analyzes and reports his findings based on the responses received in qualitative research whereas in quantitative analysis, the researchers oversees the complete research, analyses the open ended questions, classifies the responses and systematically tabulate them.
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Consumer research is a part of market research in which inclination, motivation and purchase behavior of the targeted customers are identified. Customer research helps businesses or organizations understand customer psychology. Learn about consumer research model, process of consumer research with examples and questions.
Secondary research refers to looking at previously created research in your industry. Lots of this can be accessed online, and even if this isn't the method you primarily choose to use, it can be a great starting point to guide your own research. 5 Steps to Conduct Consumer Research 1. Set SMART Research Goals and Objectives
Consumer research, also known as market research or consumer insights research, is defined as the process of collecting and analyzing information about consumers' preferences, behaviors, and attitudes toward products, services, brands, or market trends. This type of research is essential for businesses and organizations to make informed ...
Consumer Research Process And Steps. The consumer research process began as an extension of the market research process. Just as the results of market research are used to further develop the decision-making potential of a brand or business, so is consumer research. Consumer research is a sequential procedure.
Here is the content directory; 1- Methods of Discovering Consumers. 2- The Art of Understanding the Consumer. 3- The Iceberg Effect of Consumer Behaviors: The Unseen Part of Purchase Decisions. 4- Setting Methodology in Consumer Research: Finding the Right Path. 5- Research Methods: Qualitative and Quantitative from the Tative Family.
A consumer research survey includes psychographics such as interests, attitudes, behaviors, and values so you can target the right market. Your research data will reveal new insights into your target market. For example, you know your target audience for your new accounting software is for companies of 50+ employees, but you want to be sure you ...
The consumer research process typically involves five steps: Defining the research objectives. Developing a research plan. Collecting data. Analyzing the data. Developing conclusions and recommendations. At each step, specialists in consumer research methods use quantitative and qualitative methodologies to gain insights into consumer ...
Customer research (or consumer research) is a set of techniques used to identify the needs, preferences, behaviors, and motivations of your current or potential customers. Simply put, the consumer research process is a way for businesses to collect information and learn from their customers so they can serve them better.
DRY Soda Co. harnessed consumer research to drive an impressive 170% revenue surge. ... but the best consumer research process involves a series of structured steps: 1. Defining clear research objectives. 2. Selecting the appropriate research method (quantitative, qualitative, or a mix). 3. Designing the research tool (e.g., survey or focus group).
Library of Congress Prints and Photographs Division. Consumer research is done with the intention of understanding the needs or behaviors of a particular group in order to define who to best market a product or service to, also known as identifying a target market. Customer segments can be grouped by different variables, such as demographic ...
In this article, we document the evolution of research trends (concepts, methods, and aims) within the field of consumer behavior, from the time of its early development to the present day, as a multidisciplinary area of research within marketing. We describe current changes in retailing and real-world consumption and offer suggestions on how to use observations of consumption phenomena to ...
Abstract. In this article, we document the evolution of research trends (concepts, methods, and aims) within the field of consumer behavior, from the time of its early development to the present day, as a multidisciplinary area of research within marketing. We describe current changes in retailing and real-world consumption and offer ...
2) Industry surveys. Industry surveys gather consumer data by polling your audience. Surveys tend to be performed online and can be an easy, cost-effective way to conduct consumer research. Surveys allow you to reach out to your target audience and ask them specific questions to guide your business forward.
Consumer research just like market research follows a series of steps for better decision making. Consumer research is carried out to understand how customers respond to various sales offers and advertising appeals, changes in consumer perceptions and attitude and forecasting future needs, taste & preferences of a consumer.. Consumer research helps a marketer to frame appropriate strategies ...
Ultimately, Consumer research is important to understand the consumer sentiment and cater to their specific needs, which in turn increases profitability and proper usage of resources. 2. Process of Consumer Research. Consumer Research can take many forms, from a structured and planned sequence of data collection to something as simple as using ...
4 Simple Steps to Performing Consumer Research Step 1: Set Goals. As with any marketing project, setting goals and objectives is imperative to a successful customer research effort. Know which ...
The second step of consumer research is to look for the secondary data. Secondary data is defined as the information already existing, collected for some other research purpose in the past. Looking for secondary data helps researchers to check whether the research questions in hand could be answered partially or fully with the existing information.
1-to-1 interviews. In most cases, this is a conversational method that presupposes an interviewer and an interviewee. During this type of consumer research, the researcher (the interviewer) asks questions (that are equivalent to the open-ended survey questions) related to products and services. There are two main limitations to this method.
Consumer Research. Consumers; Monthly Recommended Business Books; VCU Libraries Advanced Search; Cite Your Sources ... Developing A Search Strategy; Getting Started with Research; Developing A Search Strategy. 9 steps to execute that will help you develop an effective search. Planning your search before using library resources is an efficient ...
Market research is the backbone of every successful strategy. When you know how to do market research, you have the power to understand consumers and make data-led decisions with confidence. Without the right data to light the way, you're just aiming for your target audience in the dark. But let's back up.
Consumer Behavior - Research Process - Consumer research plays a very important aspect, especially when a company decides to launch a new product into the market. ... The first step in the consumer research process is developing the research objectives which involves defining the purposes and objectives to ensure an appropriate design. A ...
Buying Task. The buying task refers to the consumer's approach to solving a particular problem and how much effort it requires. The level of consumer involvement is an important part of the buying task: whether the buyer faces a high-involvement decision with lots of associated risk and ego involved, versus a low-involvement decision with little risk or ego on the line.
In today's era of globalization electronic business and marketing become a great revolution. Over the last decade maximum business organizations took up the technological changes.
A critical part of a brand's message to the market and consumers is to not only be relevant to customers and build credibility, trust, and loyalty, but also present coherent message differentiation of its product or service from the competition. This type of coherent, unifying brand messaging is known as: consistency.
Consumer Account; Get a Quote; Start a Review; ... Take an extra step and call the number if it is a business you are not familiar with. ... Research and report on scams and fraud using BBB Scam ...
From this marketing research the marketers could discover insights into:, Frank owns a skateboard store. He needs to capture another market and is walking through the steps of a marketing plan. He begins checking out his current customers and analyzes what they are like, what type of purchases they make, and what they look like demographically.
US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics ...
Book PDF Available. Sensory Analysis. Vocabulary. January 2008. Publisher: Puplishing House of the Moscow State University of Food Production. ISBN: 978-5-9920-0012-2. Authors: Elena Smirnova ...
Research access to local amenities such as shopping centers, restaurants and public transportation. Whether you enjoy golf, hiking, fishing or cultural experiences like museums and theaters, make ...
US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics ...