One of the most common questions when planning a market research project is how many people you actually need to speak to. But the right number depends on what you're trying to find out, who you need to speak to, and how you intend to use the results.
A good customer segmentation can be hugely insightful; it gives you a much clearer understanding of the different types of customers in your market, what they need, what motivates them and how their behaviours and attitudes differ. By the end of a project, teams often feel they understand their customers in far more depth than they did at the start.
Concept testing sounds fairly straightforward; you have an idea, you show it to some potential customers and you ask what they think. If the response is positive, then surely you’re onto a winner? However, to get this research right, there's a fair bit more to consider.
Most of the clients we work with have ideas about what their customers value, what's likely to encourage someone to buy and where the biggest opportunities for growth are. These early conversations are often one of the most valuable parts of any new project, as it helps set the context for our project team.
One of the first questions businesses ask when considering market research is: "How much is this going to cost?"
Most business leaders would agree that making decisions based on evidence is better than relying on instinct alone. Yet, when it comes to launching a new product, changing prices or investing in marketing, gut feel still plays a surprisingly large role.
Many businesses associate market research with launching a new product or service, but in reality, it can provide value at every stage of a business' journey.
If you’ve not found yourself looking at home air conditioning over the last couple of weeks, you’re probably in the minority. With another spell of exceptionally hot weather, keeping cool has become a priority for many households.
Investing in market research can help businesses reduce risk, understand customers, validate ideas and make better strategic decisions. However, not all market research projects are the same, and choosing the right approach or the right research partner can make a significant difference to the quality of the insights you receive.
The government's decision to approve a social media ban for under-16s has reignited a familiar debate. Supporters see it as a necessary step towards protecting children online, while critics question how effective it will be in practice.