Here we go. You have convinced the powers that be within your organization that you need to do some market research. You were even allocated a reasonable budget… (Not quite what you asked for but one step at a time here!) Now, you need to demonstrate to your organization that this was the right move. …
Read MoreIt’s not easy being the new business on the block. Today’s global economy and marketplace afford new businesses as many opportunities as it does challenges. To be successful now, businesses require a thorough understanding of the marketplace. Specifically, their target customer – who they are, as well as how and why they buy. Online research …
Read More“It’s the next big thing. You can’t lose. It’s a safe bet. Everyone will want this.” These statements have been made countless times by entrepreneurs and innovators at start-ups and Fortune 500 companies alike. Many have uttered those statements based on a “gut-feeling”. Some of these big ideas are so enticing that investors have gone …
Read More[vc_row][vc_column][vc_column_text]A note from Kevin Lonnie, founder of KL Communications, on the future of market research. I’m a big advocate of Automation & AI for the future of market research. The cost and operational efficiencies they present is akin to fracking in the oil industry. It changes the price point of what’s possible and optimal. As …
Read MoreCompanies are constantly under pressure to put out the next, best product or service. Along with that pressure comes the temptations to skip certain essential steps in the product development process. But one thing that you should never lose sight of: your customers. Consumers are essential and can make or break the success of a …
Read MoreConsumer market research taps into six main questions you want to ask for product development: who, what, when, where, why and how. If your company can’t answer all six critical questions pertaining to your product, how can you assume it will resonate with consumers? Making assumptions, rather than conducting consumer market research, will hinder your …
Read MoreWho is your target customer? What do they need? How does your product meet those needs? These critical questions are the essence of a customer analysis (also called “customer profiling”). It’s one of the most important aspects of marketing and product development. How you conduct market research to gather data regarding who the customer is …
Read MoreCustomers know what they want. In this era of nearly infinite choice coupled with on-demand access, they won’t be your customers for long if you don’t offer what they need – or want. Competitive advantage can be conferred not only from having a unique or a superior product, but from branding itself. Product research informs …
Read MoreLet’s cut to the chase. The one big oversight missing from your new product launch plan? Thinking that market research is a “one and done” effort. It’s not! Keep your customers front and center at all times. Engage them. If you stay engaged, your customers will, too. You learned from experience after the last launch. …
Read MoreIn the not-so-distant past, the product development research process largely ignored the needs and wants of the customer. The collective mindset was “we work for the customer since the customer can’t think or do so for themselves”. Executives would “freeze” the ability to submit any change orders. Key decision makers would dictate orders based on …
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