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The importance of surveys in market research cannot be understated. Surveys help businesses understand customer needs and preferences, develop new products and potential target markets, and track trends in customer behaviour. Surveys enable companies to make decisions based on hard data rather than speculation or anecdotal information by gathering data from various sources, such as […]

In market research, the collection and use of data raise several ethical considerations, such as obtaining informed consent, protecting the privacy and confidentiality of participants, avoiding deceptive practices, and ensuring data accuracy.  Ethical guidelines, such as the International Chamber of Commerce’s ICC/ESOMAR International Code on Market and Social Research, provide a framework for conducting market […]

Customer journey mapping is the process of creating a visual representation of the steps and touchpoints a customer goes through in their interaction with a company. It aims to understand the customer’s needs, emotions, and motivations at each stage of the journey.  The importance of customer journey mapping lies in its ability to improve the […]

When the US home improvement retailer Home Depot attempted to enter the Japanese market in the 1990s, it failed to gain traction due to intense competition from local retailers and cultural differences. And when UK supermarket giant Tesco attempted to enter the Japanese market in 2003, it failed to gain a foothold and eventually withdrew […]

In today’s rapidly changing and highly competitive business environment, companies must remain vigilant to stay ahead of their competitors. This is where competitive intelligence (CI) comes into play.  Competitive intelligence gathering is a systematic and ethical process of collecting, analyzing, and using information about one’s competitors, market, industry, and customers to gain a competitive advantage.  […]

Ethnographic research is a qualitative research method that systematically studies social and cultural phenomena within their natural contexts. It involves observing and recording human behaviour, practices, and beliefs, often through immersion in the field, participation in activities, and in-depth interviews with participants. Ethnography aims to understand the experiences, perspectives, and culture of the people being […]

Conjoint Analysis is a market research technique used to understand how consumers value different product or service features. It involves presenting participants with a series of product profiles that vary in their features and asking them to rate or choose the profiles they prefer. By analyzing the data collected, researchers can determine each feature’s relative […]

UX (User Experience) refers to the overall experience of a person using a product or service, including how easy or enjoyable it is to use and how well it meets their needs. In market research, UX research helps to understand how users interact with and perceive a product and identify improvement areas. UX market research […]

You must start market research with a plan. The research design is the strategy that answers your research questions. It sets the tone for how you gather and analyze data.  What is Research Design? Research design is the framework or conceptual structure within which research is carried out. It includes the research elements, methodologies, and […]

We live in the experience economy, meaning brands no longer only compete on the quality of their products but also their impact on consumers. In the experience economy, experiences are first, products and services second. First coined by economists B. Joseph Pine II and James H. Gilmore in 1998, the experience economy describes an economy […]