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15 Dec 2015
Market research company in india
Sizing a niche - This type of general market trends is designed to create an estimate of the market size (measured by units or dollar volume) a new product is expected to garner out there. In general this is usually done for entirely new product category or anticipating the development of a new product that substantially changes the competitive landscape in which customers are already familiar (for example, I would suspect that this new premium chewing-gum category which has emerged in the last Eighteen months might have upset the traditional wisdom of analysts in this industry). Conducting this sort of market research can be expensive, and so the best place to start is normally by evaluating the off-the-shelf syndicated survey reports that are available for just about any market of a reasonable size. Sizing market is almost always a quantitative survey study, although with regards to the market specifics it's possible that there might be a qualitative lead-in activity or possibly a qualitative follow-up to get more details on a specific portion of the market.

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Product Concept Development - Product concept market research is typically designed to provide customer input to help product-marketing managers develop items that more directly meet the needs of the target customer. Typically you will find tradeoffs involving ease of use, price, industrial design decisions and bundling options. To the product marketing manager, conducting general market trends allows them an opportunity to get feedback in the group who is actually going to decide whether they'll settle the bills or not, the customer. Product concept market research can be done either qualitatively or quantitatively. Generally the direction hinges on the customers can use familiarity with the product or changes being considered, plus a terminology that is well enough understood by the potential respondents to ensure clear communication is taken place without significant uncertainty that their definitions match that which you believe them to mean. If the product category is known, and the terminology is very well defined, quantitative research is probably the best bet. Otherwise it's likely to fall to qualitative solutions to ensure a complete knowledge of the concepts and the respective reactions.

Customer Profiling - The intent of customer profiling market research is to create a profile of a typical customer who purchases a particular product or service. Having a complete profile of an customer can be very helpful when defining a design center to build up the next generation of a product category also to ensure that the engineers and marketers hold the right person in mind since they make those decisions. Setting up a customer profile often includes collecting the following:

 Demographics (age, title, physical city of location),
 Firmographics (company industry, variety of employees, decision making structure throughout the product category being studies) and
 A amount of questions about the particular product was purchased, the way it was being used, what product it replaced, the amount of people using it...

Oftentimes, customer-profiling research becomes the "bible" being a product development team makes decisions in what features or capabilities can be desired and which other ones would be passed over. For smaller companies conducting profiling researching the market is often the first type of research that a company does because it is straightforward and it's challenging to argue with "who are our customers?".

Positioning Research - Positioning studies often closely linked to branding market research, since it's function is to understand the positioning of one product when compared with another. Much larger companies actually conduct positioning research simply to understand whether or not their "line logic" is apparent or understandable by their customers - and doesn't even get into the complexity of how customers relate their products with other company's products. This could be very interesting research as it's often the case that the positioning put together by marketing managers is oftentimes different than the way customers view weaknesses and strengths of different products relative someone to another. Sometimes, on the chagrin of marketing managers, the phrase 'perception is reality' comes up repeatedly in this type of research, as marketing managers know that it takes more than words on the brochure to change customers' perceptions of your products positioning. Consider whether a Jaguar holds greater status than does a Mercedes. Which car can you expect to be more comfortable? Which car can you expect to be faster? Developing a portfolio buy-up strategy, which calls the benefits of the next product, without saying derogoratory about the product just down the road, is a challenging task, that is where positioning research really shines.

Messaging Research - Messaging principals are very closely related to advertising research, although it tests the most basic concepts of the advertising campaign - the most basic idea that is believed is the primary motivator for a product. As an example, what do you see when you watch a Rolex advertisement? Would they tout the increased accuracy of an Rolex watch over others? Can they talk about how much more shock resistant a Rolex is than another watch? Will they talk about how much deeper from the ocean a SCUBA diver will go with a Rolex than another watch? No, they don't message on some of these points, instead by visiting their website they show handsome people directing their million dollar yachts through rough seas, they show close-ups of the meticulously detailed watches, they reveal brave men, obviously risking their lives, climbing to the top of a snowy, distant peak. Their messaging is about living the good life and being ready for just about any adventure - whether you're made of that stuff or otherwise - as though developing a watch that costs thousands of dollars puts you just a little bit closer to intrepid. With the crux of messaging market research is, what are the few items that we should emphasize if we're lucky enough to get a few seconds of consideration from your potential customer? Messaging researching the market is about finding the mixture of unique capabilities or attributes of our product and framing that in a manner that makes sense to the people who're somewhat inclined to get our product. Messaging research is commonly qualitative because non-verbal communication is an enormous part of communication and several people want to be in a position to "read" the respondents since they first try to digest our schpeel.

Industrial Design - Industrial Design (or ID because it is more typically called) typically refers to the shape, feel and texture of an product. You could claim that the ID of the RAZR phone is a big hit, sufficient that other companies are quickly copying it. ID research is focused on understanding what effect the economic design may play in the purchase of a certain category of product, and how to optimize a product's industrial the perception of the target audience. Whenever we all own the identical products, it appears that ID has become one of the fundamental techniques companies are trying to differentiate products that are otherwise quite similar. ID general market trends has generally considered best handled in face-to-face qualitative research (often in-depth-interviews with one person at a time). However online capabilities have risen significantly in the last a long period and there is a reasonable case for conducting ID research on a web site. If you're looking for an example of how strong online capabilities attended take a look at the Audi site - where you can view their cars, pull back, zoom in, view the car from any angle just by positioning the mouse. The capabilities are available from some of the more advanced online research houses. Usually the one caveat is that people often wish to feel the heft of your product to understand if it is plastic, metal or wood, appreciate how quality the finish looks, notice the quality of moving parts. In many cases online research is capable of supplementing face-to-face methodologies as well as some product categories could possibly replace it entirely.

Customer Segmentation - Segmentation survey studies attempts to understand what groups of customers happen in a product category to be able to more precisely target their demands or to target the needs of your more attractive group (most likely the high quality group, rather than the value driven customers). While these customers may all be purchasing the same products, given that they have different perspectives, they're responses to product changes could possibly be entirely different, so it is a good idea to understand how large your groups, or segments are, and the way they'll likely respond to modifications that you're company is considering. This is the type of market research that generally ends using a large quantitative bang. Segmentation research can be very simple - understanding how customers in the Eastern area of the country dress than these down South, or it could involve very high-end statistical analytics that can be very costly. However, good customer segmentation can greatly improve a companies product development and target customer efforts.

Channel Research - These studies can take a number of forms depending on the critical business issue. Channel research could be conducted to understand what sort of company's channel partners are ACTUALLY behaving, as opposed to what it is believed that they're behaving. Channel research might be conducted to understand what is motivating channel partners, or understand whether a fresh channel partner that is being considered would be an appropriate choice for a certain product category. This can be a very broad sounding possible research techniques that can span from efforts like "mystery shoppers" - who walk-through a typical customer process and report back on the experience, to cost checks or product offering reports.


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