Market research methods and tools
Posted: Sun Dec 22, 2024 7:22 am
To effectively conduct market research, you must embrace a range of methods and tools.
The scientific method
Market research is a science. You start with a hypothesis, and then use the data to prove or russian email address disprove that hypothesis. You must have a reason for collecting the data.
Digital data collection
Initially, some brands were reluctant to go digital. They were concerned about the continuity of data if data has originally been collected by traditional means and then was going to be collected by digital means. However, the Covid-19 pandemic accelerated the move towards digital tools.
Group discussions
Also known as focus groups or in-person consumer panels, group discussions can be a valuable source of qualitative data. They can be as simple as an interview, a panel discussion, or a friend group. People talk about their purchase decisions and you can glean insights from that.
Traditionally, these would involve in-person meetings or physical diaries but now this data can be collected digitally using online meetings. Also, you can collect data from customers’ mobile phones as they complete their customer journey. They can choose to s
The scientific method
Market research is a science. You start with a hypothesis, and then use the data to prove or russian email address disprove that hypothesis. You must have a reason for collecting the data.
Digital data collection
Initially, some brands were reluctant to go digital. They were concerned about the continuity of data if data has originally been collected by traditional means and then was going to be collected by digital means. However, the Covid-19 pandemic accelerated the move towards digital tools.
Group discussions
Also known as focus groups or in-person consumer panels, group discussions can be a valuable source of qualitative data. They can be as simple as an interview, a panel discussion, or a friend group. People talk about their purchase decisions and you can glean insights from that.
Traditionally, these would involve in-person meetings or physical diaries but now this data can be collected digitally using online meetings. Also, you can collect data from customers’ mobile phones as they complete their customer journey. They can choose to s