Conducting Market Research

In some circles, market research is a catch-all term for asking the industry what it wants. “Do we know what the demand is for this product? Who’s even looking for our services? Let me do some market research to find out,” someone might say. But what does that actually mean?…

Whether your focus group is there to give feedback on a product or service or help you assess how your brand stands out in your competitive landscape, thought-provoking, open-ended questions are essential to a productive discussion. However, it’s easier said than done. What can you ask beyond “What do you…

In an ideal world, you’d know just how your product or business idea would be perceived before it’s released. This knowledge could help you make alterations to what you’re offering for the best possible reception, and better inform your sales projections and marketing strategy. Sadly, you’ll never know exactly how…

When I was younger, my dream was to open a cheese store with my family. My mom, brother, sister, and I — we’re all obsessed with cheese. So anytime I see a cheese store, I’ll go in and sample everything … for research, obviously. Although I’d never thought about it…

Growing up, I used to play “grocery store” with my sister. We’d go into our pantry, take out all the food, and set up a grocery store in our living room. I would typically “buy” goldfish. You might be thinking, “What does this have to do with market share?” Well,…

In college, research was always my favorite part of writing papers. I don’t know why, but finding data to back up my hypotheses always gives me a thrill. But, even though I love research, it’s not exactly my forte — and I know I’m not alone. Conducting market research is…

When was the last time you ran a competitive analysis for your brand? And most importantly, do you know how to do one efficiently? If you’re not sure, or if the last “analysis” you ran was a quick perusal of a competitor’s website and social media presence, you’re likely missing…

A SWOT analysis is a useful technique to evaluate a new project or objective your business faces, or your business as a whole. Essentially, a SWOT analysis is a roadmap for how you should move forward with your business, which opportunities you’re missing out on, and which challenges you should…

As Elle Woods once said, “Whoever said orange is the new pink was seriously disturbed.” If you haven’t seen Legally Blonde, Elle was referring to an attempt made by a brand to influence consumer behavior. However, its attempt fell short because the fictitious company failed to align with its target…

Sometimes, commercials really get me. T-Mobile‘s Super Bowl commercial this year is a prime example — “What’s for Dinner?” demonstrates the infuriating process of choosing what to do for dinner for a young couple, and it’s gold. The reason T-Mobile’s ad was so relatable is because of their market research.…