As I reach my third year as an insightsanalyst with the Fountainhead team, I can’t help but think back to my last year of undergrad. I knew the basics of market research. I knew that I was interested in people and their motivations. I knew that there was so much I didn’t know. The funny thing about learning on the job is you don’t notice how much you’ve learned until you take a second to reflect and think how little you knew before. Looking back now, here are five key awakenings I’ve had from my time with Fountainhead.
Are insights “on demand” really within reach? Yes, indeed. Should you reach for them? It depends.
In marketing research, the common wisdom that has prevailed for decades is that for any initiative, there are inevitable trade-offs among cost, speed and quality. But rapidly evolving technology now offers us a dizzying array of well-priced options for blazingly fast data collection, both qualitative and quantitative. The promise of being able to conduct research that is “cheap,” “fast” and “good” without compromise is finally a reality!
When is a “yes” a certain response and when is it a maybe? Hesitation can be the key to unlocking the difference. As marketers and researchers, it’s critical that we get to the heart of consumers’ true attitudes.
We’ve been working with clients to assess the implicit level of certainty consumers have when associating attributes with various stimuli.
Issue:A company that was established in food-based nutritional products was having an internal debate. Would consumers welcome their brand in the realm of dietary supplements, particularly omega-3s? Would current supplement users have a reason to switch brands? And what equity elements should they carry over from their existing lines?
Fountainhead: “Nope, We’ve Been Doing It Correctly With Great Results”
Trash talking “brainstorming” seems to be quite the thing these days. And we get it. We’ve suffered through endless brainstorm sessions where the moderator didn’t adhere to best practices, so all that resulted was a list of mediocre thoughts and demoralized participants.
That’s why we practice what we preach. If you want a productive brainstorming session, please follow these principles.
You may hear some buzz about neuromarketing, or “System 1 Thinking,” an emerging approach to marketing research that combines three well-established disciplines of brain science to give a new perspective on human behavior and give insight into nonconscious decision-making:
Neuroscience – the study of the human nervous system
Behavioral economics – the study of how people make economic decisions
Social psychology – the study of how people think and act in the presence of other people
Many of our clients ask for a quantitative segmentation to be done on their brand’s target audience. This almost always leads to an interesting discussion regarding types of segmentations. (Here’s where we hope some of you say, “Hey, I didn’t realize there were varying types.”)
There is no longer a question of whether or not mobile is changing how we do what we do. One of the last frontiers to be affected by the transition to mobile dependence has been market research, but our practice is now evolving at a rapid pace.