Market Research Studies
Market Research Studies: Consumer Insights Frameworks
Consumer insights frameworks are used to uncover relevant consumer needs, attitudes and behaviors at each stage of the marketing process. By framework we mean a particular set of questions, sampling technique and analytical plan that expertly informs the marketer about effective consumer strategy.
Insights frameworks have evolved some in recent years – in keeping with the changing consumer. For example, the Awareness, Attitudes and Usage study (ATU) has given way to studies now referred to as Path to Purchase – which still gets Awareness, Attitudes and Usage information but is designed now to take the respondent through the entire shopping process – from time of information gathering, barriers and competitive assessment (online and physically) to purchase, usage, and post purchase reaction.
The point being, if one can expertly design market research studies, and understand the normative results, the insights can be incredibly useful – often times enough to achieve competitive advantage.
The Marketing Process
The marketing process we all know is complex, especially for companies working with multiple brands and larger product portfolios. Getting it right is perhaps the single most important determinant of marketing success.
One way to visualize the marketing process, simply, is to represent it as a continuous process from opportunity identification to product development, brand and communications strategy and performance measurement. It would be relatively easy if it were a linear step-by-step process and we were always at just one point in the process. But this is not reality.
What happens in practice, in most cases for established products, is execution of a simultaneous action plan across all points of the process at once; meaning, while we are taking the current line and communications strategy to market, we are monitoring current performance, working on the next generation of innovative products and reshaping the brand and communications strategy for next year.
ConsumerDNA understands these complexities and can help you with proven consumer insights frameworks that will make each step a success no matter where you are in your process.
Market Opportunity Identification
– Market Structure Studies
- Define your market – the competitors and basis for competition, i.e. features and benefits that drive consumer choice.
– Category Studies (Path to Purchase)
- Identify your target consumers and their attitudes, needs and motivations. Plus, retail and online venues they use for information, shopping and purchasing.
- Develop new ideas and concepts for innovative products and services.
- Cross-pollinate using innovation ideas from other categories.
- Develop new ideas and potential partners from an active database of innovative companies and technologies.
– Consumer Segmentation
- Create consumer segments to improve targeting and product development effectiveness.
– New Product Concept Development and Testing
- Identify the best new product ideas and improve the packaging and ad messaging.
– Product Price and Features Optimization
- Use conjoint or discreet choice analysis to optimize the price and features of your product.
– Product Line Optimization
- Optimize your line of products and maximize profit through price optimization.
– Brand Positioning Studies
- Position your brand effectively versus competitors on the rational, emotional and cultural dimensions that matter most to your target consumer.
- Develop a positioning hierarchy that optimally aligns consumer targeting, messaging, and product development.
– Brand Equity Studies
- Uncover the assets and weaknesses of your brands versus competitors.
– Brand Portfolio Optimization
- Determine how to make your portfolio of brands work more effectively together.
– Advertising Concept Development and Testing
- Identify the best new print or video advertising concepts and improve the messaging and execution.
– Finished Ad Testing
- Use normative methods to test the effectiveness of finished ads either video or print.
– Media Mix
- Use quantitative methods to assess the best media mix to use for your brand/ or product – both online and traditional forms.
– Website Testing
- Assess visitor satisfaction with your website and optimize the content to meet your objectives
Go to Market
– Path to Purchase Studies
- Identify and refine the tactics that will make your product a success in the marketplace – channels, retail partners, online venues, promotions and other ways to convert shoppers to customers.
- Understand how your customers get from information seeking and comparison shopping to channel selection and purchase, both online and physically, and know where best to intervene with communications and other programs to pull them through to your brand.
– Brand Performance Tracking
- Monitor the strength of your brand versus competitors over time.
– Advertising Performance Studies
- Monitor ad awareness, recall and impact over time.
– Customer Satisfaction Studies
- Assess the satisfaction, loyalty and churn of your customers versus competitor brands.
– Employee Satisfaction and Engagement Studies
- Determine how satisfied your employees are in their job and the level of engagement they have in pushing your company to the next level of performance.