Knowledge of today’s key marketing terms can be overwhelming, but they are critical to helping you decipher consumer desires, needs, beliefs and actions as they relate to purchasing behavior, and your product or service. Targeted market research involves data collection and analysis, resulting in information that identifies your key clients, and helps you develop, brand and market your product or service.
Focus groups are a form of research where small groups of people are asked their opinions, ideas and attitude towards new products, services, concepts, and packaging . Focus groups allow you to “test” a product, or concept before it’s made available to the general public, which can provide valuable insight into potential market acceptance.
Ad testing is a type of research generally done to measure the effectiveness, and perception of ads in a given market. Ads can be tested in a variety of media, including print, television and radio.
Usability testing focuses on researching and evaluating the criteria for a product such as ease of use, intended use, and clarity of instructions. This type of testing is performed most effectively by simple observation.
Mystery shopping is a form of market research that uses “shoppers” posing as normal customers to measure the levels and quality of service. This is most effective at the retail level in measuring the opinions and attitudes towards the product quality and the staff’s use and level of customer service.
These are select groups of consumers from specific sectors who answer research questions relating to things such as product testing, taste testing and ad testing. They are most useful for quick surveys in which a specialist, rather than a probability sample, is preferred.
Intercepts are short consumer interviews typically conducted in shopping malls, retail stores, theme parks or any location where large numbers of a target group are likely to be found.
Any one of these research ideas or a combination of them can help your business to get the best RO.I By effectively targeting your ideal customer and having consumer opinions before you go into full scale production is critical to smart marketing and your bottom line.
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