Trade Show Marketing
Next
Previous
Contents
Market Research
Probing the Emotional Bond Between Product and User
Recently I had a discussion with a client
regarding the introduction of a new product.
The product is the outgrowth of years of frustration
and dissatisfaction with existing products.
It is also the brainchild of the owner of the company.
I was asked to prepare a market plan
and was given "all the information I would need"
to accomplish this not so simple task.
After pouring through piles of paper,
from engineering reports to letters from the inventor's friends,
I noticed there was something missing...
no market studies.
I asked my client what made him think his product
would be accepted by the marketplace.
He promptly replied that he knew it would be grabbed up by the market
because he had done his research.
His research consisted of asking employees, family and a few close friends
what they thought of the product.
It did not come as a surprise to me
that they all assured him he had a "winner".
This is not what I call market research.
Unfortunately, many companies take this approach
when it comes to market research.
I think this is true often with smaller companies
who feel they cannot afford the time or the money
to conduct proper research.
They couldn't be more wrong.
Sound market research is the base
for a successful product launch.
If you are currently involved in the introduction
of a new product or service,
spend the time and money to ensure a successful venture.
One method of getting dependable information
is to conduct a focus group -
a small group of users representative
of a given market who can help marketers
home in on motives for buying various products or services.
Groups usually consist of 10 to 15 people
who are brought together to talk about the product or service in question.
Most are highly structured to the extent there is a definite agenda,
although they appear to be free-flowing to the participants.
A trained focus group leader is a must for accurate results.
A good leader is in control of the session.
They know what must be accomplished and the correct path to follow.
A good leader will be able to phrase the proper questions
to ensure meaningful answers.
The leader should be able to help you select participants,
set the tone of the session
and structure the agenda for maximum results.
Focus groups should not be seen as a substitute
for total market research.
However, they can jump start your efforts if used properly.
Things to keep in mind:
1. Keep the session limited to only one topic.
2. Have a clear idea of what you want to accomplish.
3. Randomly select a true cross-section of your market for the group.
4. Select a natural setting.
5. Prepare questions that require more than a yes/no response...
questions that provoke thought and discussion.
6. Use a trained focus group leader...
someone who can maintain an open mind
and guide the discussion while probing
to reveal the feelings of the group.
Once only thought of as a tool for large companies with big budgets,
this research method has been gaining in popularity
with smaller companies with lesser budgets
because of the relative ease and quickness
of obtaining accurate market feedback.
Focus groups are only a small part
of a responsible market research program,
yet they can give you a head start and a solid base.
Next
Previous
Contents
|