Market Segmentation Research
Market segmentation is a process by which market researchers identify key attributes about customers and potential consumers that can be used to create distinct target market groups. Advertising and Sales without a market segmentation base is like scattering breadcrumbs to a product -- most of the effort is simply lost in the context.
How Can Small Businesses Make Use of Big Data for Market Research?
Three things are needed for small business market researchers to use big data well. Building market research knowledge into new software design, more powerful and advanced software for market research use, and increased client-side interest in market research. Market researchers analyze consumer data sets using the same skills that big data analysts use. What do market researchers need to be able to use big data effectively? Big data software is different from the software traditionally used by market researchers.
Customer Experience Dynamics
Learn about ways to define, measure, and analyze characteristics of the customer experience.
Market Segmentation - Target Market Research
Learn about the different categories of consumer attributes that form the basis of market segmentation. Market segmentation is an important tool for market researchers and, done well, it can substantively contribute to high ROI.
Create Personas - The Building Blocks of Target Markets
Learn about the creation of consumer personas as a way to deepen your understanding of your target markets.
Build a Blue Ocean Strategy with Market Research
Learn about how the Blue Ocean marketing strategy depends on great market research. Blue Ocean Strategy is competitive intelligence research at its best.
Trends in Market Research
Learn about market research trends and how companies are learning about consumers faster, better, and cheaper than ever before. A research revolution is taking place, as every technological disruption means new tools and approaches are made available to market researchers.
Market Share Simulation - Product Launch
Learn how to better prepare for a product launch by using predictive modeling to identify market share scenarios. Using Bayesian networks, market researchers can compute market shares that correspond to different product launch offers.
Step-by-Step to Product Launch Market Research with Bayesian Networks
Learn how to do a product launch by using Bayesian Networks to predict consumer buy intent and optimize differentiation.
Convert Market Segementation Data to Dollars
Learn about how to convert market research segmentation data into dollars. Review these strategies for optimizing segmentation data for business development. Learn different approaches for marketing and advertising to customers from different market segments.
What is Market Segmentation? Your Customers Can Tell You.
Learn about a different framework for market segmentation that is based on levels of customer involvement with brand. The framework is intricately linked to customer advocacy which is exhibited by consumers who are passionate about a brand.
Social Media Research - RockYou™ Perfects Social Gaming
An email interview with Julie Shumaker of RockYou reveals how the company can "rock you" so well and how they stay in front of the cutting edge of the social entertainment media industry. Shumaker discusses the findings of new research RockYou commissioned from Interpret LLC. The study findings are of benefit to advertisers, marketers, market...
Brand Equity - I'm Dreaming of a White Coke Can
Coca-Cola has never been afraid of change or of creating choice for its consumers. And Coke has done its homework--it spent over $4 million to market test the "new" Coke. No matter that it jettisoned the beverage formula 87 days later. Coke refreshes its brand as it brings refreshment to its consumers. The new brave thing? Coke is supporting...
Brand Loyalty Case Study - Coca-Cola Can Change-Up
In this new case study series, the branding and re-branding efforts of "big brands" will be featured. This case study is about how Coca-Cola can change-up the look of their beverage containers and still keep customer brand loyalty high. Learn what Coke does to keep brand affinity positive and why Coke customers don't seem to mind the changes.
Nielsen Knows – A Mosaic of Consumer Insights
Advertisers and marketers must address audience measurement across all relevant channels in order to identify the reach, frequency, and Gross Rating Points (GRPs) that will help them reach their target audience. Nielsen has developed several cutting edge methods for identifying the new hybrid online audience.
Discrete Choice Versus Decision Tree
Learn about how to use optimization techniques to launch new products and services. Using discrete choice or conjoint methods, market researchers can zone in on the scenarios that have the most appeal for consumers. Simulation models can inform the product and service configuration choices of a new launch.
Redefining Focus Group Methods
Learn about the use of virtual reality in market research, how focus group methods are changing, and the benefits of online and interactive focus group market research.
Designing Market Research - Applying Cognitive Theory
Learn about ways to apply cognitive theory to consumer behavior. The stages through which a consumer moves from awareness to purchase have been treated like a black box. The focus has been on getting the consumer to move through the stages by changes to the brand marketing and advertising. Very little marketing strategy is based on truly...
Market Segmentation - Keep Up With Your Consumers
Learn about how consumer decision-making is changing as products and services become the fodder of digital, multi-channel social media networking. In-bound marketing has changed the way consumers communicate with brands. The old analogy of consumers passing through a funnel to eventually conclude a purchase no longer captures the consumer...
Defining and Measuring Customer Brand Experience
Learn about what customer brand experience entails and consists of, and how it differs from other brand constructs, such as loyalty, equity, satisfaction. Explore how customer brand experience is measured and learn about strategies to improve customer brand experience.
Market Research Dictionary - Index M
Market research terms beginning with the letter M are listed here. Find definitions related to market research, marketing, target markets, market share, and market segmentation. Long and short explanations of the meanings of the terms are provided, along with examples for greater understanding.
Market Research Dictionary - Index D
Index D contains definitions for differentiation, which is a term for the distinct product and service attributes that cause a particular product or service to be more appealing to consumers than the products of competitors which are in the same product or service categories. Definitions associated with digital marketing, digital advertising, and digital publishing platforms are included in this index. Definitions for dynamic surveys and data display are provided here.
Behavioral research is used to understand and predict the habits, responses, and decisions people make based not on logic and reasoning, but on reward systems, risk aversion. and the effects of social, cognitive, and emotional factors.
Market Research History - Brand Management at P&G
This is the first in a series of articles about the history of market research. Most of the practices employed in market research have evolved from the social sciences and from business. Backward mapping to the origins of these practices help to explain why methods work and why approaches were selected. This article focuses on the practice of...
Brand management can be seen in multiple versions in businesses across the globe. Modern brand management was developed at Procter & Gamble in the post-war years. Many of the same techniques used by Procter & Gamble are still in place today. The idea that a dedicated team of marketers focus on a particular brand, and that one brand manager...
Strategic Use of Target Market Segmentation
Read about the managerial guidelines for using market research studies. Learn about how market heterogeneity increases the value of target market segmentation. Learn what published research says about industrial market segmentation. of Strategic application of market segmentation can improve return on investment (ROI). Learn
Targeting Markets Through Segmentation
Market segmentation is based on the ability of market researchers to provide objective information about consumers and specific -- targeted -- markets. Many market research and industry research companies provide information that is representative of national samples. Market segmentation research may be conducted internally or purchased from...
Quantitative and Qualitative Segmentation Research
Segmentation research quality depends on the five key decisions market researchers must make when planning a target market segmentation strategy. Determine the best segmentation research approach for your market research questions. Explore examples of how market researchers optimize their segmentation research opportunities. Learn about the...
This is a glossary entry with a simple definition of consumer profile and examples of systems for determining categorical attributes as building blocks for a consumer profile. Learn about the various ways that market researchers create consumer profiles or consumer portraits what allow them to group consumers. Explore several systems for...
Market Research - Investment, Not Simply Spend
The audiences that attend to advertising on digital channels are becoming increasingly fragmented. Consumers have many channels from which to choose and mass advertising rarely appeals to this new and sophisticated audience. Measuring the historical data from the mass advertising golden age is unlikely to produce reliable guidelines for moving...
Brand Affinity and Neuromarketing
Market segmentation is based on understanding fine differences among the preferences of consumers. Neuromarketing is used to help establish the categories that make up target segments of a market.
Market Research History - Field Research at P&G
This is the second in a series of articles about the history of market research that takes a backward mapping look at the origins of many practices that are still in place today. This article is about field research, one of the earliest forms of systematic market research. Field research involves going to places where the customers are...
Simplify Segmentation - Target the Right Market
Market segmentation is crucial to successful brand management. The range of customers targeted for a brand or service may be slim or wide - but the customers must fall into a distinct band of consumers who differ from others in clearly identifiable ways. Market researchers must be able to answer the question: Why will the customer find this product or service attractive?
Market Segmentation - Key to Choosing the Strongest Target Customer
Market researchers make a strong contribution to market positioning through their deep analysis of target markets. By individualizing the marketing mix for each target market, the effect of product differentiation can be optimized. The key to individualized marketing mixes is deep customer knowledge.
Market Research and Big Data
The battles to strengthen digital privacy of American citizens is being fought on several fronts. Lately, consumers appear to loosing one battle, largely because they don't even know it is being waged. Digital activity of consumers is making its way into enormous databases that are being subjected to algorithms designed to assign e-scores to...
How Big Data Market Research Benefits Big Business
Market research providers generate segmentation systems as deliverables to large businesses. Does crunching big data for use in database marketing truly result in improved return on investment (ROI)?
Applying Surveys Research to Market Segmentation
The family life cycle (FLC) approach shows promise as a method to address target market segmentation in an industry. Of the three alternatives explored, a client-centered approach to conducting a version of action research is recommended for the purpose of segmentation based on family life cycle groups or personas.
Use Videos, Audio and Pictures to Tell Stories
Qualitative researchers have opportunity to employ storytelling with clients. Video and audio can bring data alive for clients, and both are being used to create consumer profiles. The same approach that tells a market research story to a client can be used to tell a story to consumers. Storytelling is an excellent way to convey to clients...
Market Research Case Study - Starbucks' Entry into China
Starbucks conducted target market segmentation research in order to fine tune its market entry strategies in China. Several major markets exist in China that are fundamentally defined by distinct regions. Market research is crucial to understanding the differences between these target markets.
Approaches to Tracking Word-of-Mouth (WOM) Consumer Activity
Word-of-mouth traffic analysis can be used to strengthen consumer profiles and market segmentation research. Customer databases are natural repositories for identifying willing consumers for future traditional research or online market research panels. Understanding the senders and receivers of word-of-mouth activity supports social media research.
What Can Wall Street Teach Market Researchers About Big Data?
Market segmentation today invariably involves big data. Database marketing slices and dices data to create the most promising market segments for businesses to target.
Segments Most Influenced by Social Media and Consumer Communities
Not all consumers are made alike. Some consumers are much more likely to turn to their social media networks and consumer communities when they are contemplating a purchase. Social media network influencers are more important to several distinct consumer segments. Identify these consumers for your target marketing.
Tips for Building Better Consumer Personas
Personas are good tools for anyone a brand plans to reach with messages or influence through advertising. Marketing has gone mobile and multichannel. Similarly, personas must be designed to adapt to these platforms. A perfectly matched persona is a thing of beauty - and of power.
Use of Attribution to Determine the Value of Cross-Channel Consumer Touch Points
Big Data proponents may be promising more than firms can achieve. IT executives and management information systems experts are less optimistic about the Big Data capabilities of corporations, than are line-of-business executives. Self-assessment and strategic planning need to be employed by firms in order to optimize the potential of Big Data.
The Perfect Storm: Channel, Content, and Technology Rise in Concert
Three primary drivers of consumer behavior must be considered in marketing and advertising strategy: channel, content, and technology. All are rising in use and all are changing dramatically. These key drivers have helped to create digital shoppers.
Market Research to Optimize Content and Revenue Generation
The roles of sellers and buyers has changed radically as consumers engage in extensive research prior to making purchases. A considerable amount of research is conducted in digital environments, a fact that places marketing content front and center. Good content generates revenue and serves both consumers and the industry.
Refining Consumer Profiles for Maximum Relevance
Target market segmentation is key to effective consumer-brand engagement, brand lift, and ROI. Learn how to refine & put wheels on consumer profiles.
Base Content Marketing Strategy on Market Research
Content marketing must be driven by meaningful market research. Too many businesses jump right into content marketing without a strategy that maps to consumers' needs and preferences. Create a content marketing strategy before you create content.
The print channel has Newsweek's attention once more. Competition has lessened for print channels as advertisers and marketers jump on the digital content bandwagon. The Newsweek Blue Ocean niche is pay for premium print content.
Do-It-Yourself market research includes in-store product demonstrations. Same store growth metrics indicate product demos are valued by customers and result in increased sales of those products. Costco provides a case study.