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Best Practices in Innovating within Market Research to Reach Consumers: How New Tools, Technologies and Approaches Improve Understanding and Communicating with Consumers

ID: PSM-299


Features:

3 Info Graphics

66 Data Graphics

500+ Metrics

23 Narratives


Pages: 119


Published: 2013


Delivery Format: Shipped


 

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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
With new technologies, consumers’ decision-making process is constantly evolving; directly impacting market research.

Tools in both qualitative and quantitative fields are expanding to capture a consumer decision, and this has prompted companies to upgrade their research capabilities. In line with this, researchers across industries are attempting to adopt innovative approaches to identify winning tools and techniques for understanding consumers’ decisions.

Best Practices, LLC conducted this cross-industry benchmarking study to identify current and evolving approaches for qualitative and quantitative consumer marketing research techniques and tools. This research examines the changing landscape for qualitative and quantitative research. It also reviews which quantitative research approaches market research leaders are currently utilizing most and why.

This study includes data on two segments: non-pharmaceutical companies and the Total Benchmark Class.


Industries Profiled:
Market Research; Service; Insurance; Health Care; Financial Services; Manufacturing; Computer Software; Technology; Pharmaceutical; Consulting; Professional Services; High Tech; Real Estate; Electronics; Telecommunications; Communications; Marketing; Advertising; Transportation; Consumer Products; Utilities; Education; Computer Hardware


Companies Profiled:
Sample Answers; ic axon; Midwest Employers Casualty Company; DDI; National Housing Trust; ADA; Landmark Group; CDW; Maxcom; synergesic; gemalto; Klick Health; Bright Horizons; EPR; R2Business Solutions; brunner; Extrpreneur Group; China HR Insight; Zillner; HFS Research; Lifestyle Marketing; HIT Global; Convergys; Catalpha; Metropolitan; Unilever; SMUD; The SoNo Group; MTS allstream; Sekisanchi ; MidAmerican Energy Company; Emirates Group; Emirates Post; Coleman; IBS; SCL Systems Consulting; Veeda Clinical Research; Quadra; uatae; vetoquinol; Independence Blue Cross; 20/20 Research


Study Snapshot

Fifty-nine benchmark survey respondents from 58 companies participated in this study. In addition, research analysts conducted executive interviews with eight selected respondents to collect qualitative data and insights.

Key topics include:
  • Innovativeness of MR Tools for:
    • Forecasting
    • Patient Flow Mapping
    • Positioning
    • Segmentation
    • Brand Research
    • Concept Testing
    • Brand Awareness
    • Customer Insights
    • Direct-to-Consumer
    • Tactic Testing
    • Target Product Profile Testing
  • Utilization of Emerging MR Tools
  • Effectiveness of Consumer Marketing Tools
  • Best Practices, Pitfalls & Lessons Learned

Sample Key Findings

Combining Marketing Research Techniques or Hybridization Occurs in Both Segments: About 20% of all respondents said they are combining Market Research tools or technologies in their consumer research efforts. In the Non pharma segment, the practice of combining tools (such as merging survey research with online behavioral tracking) was prevalent in 26%.
  • Innovation Not Widespread in Evaluation of Consumer Marketing Research Tools: While participants reported limited innovation across these key consumer market research tools, some of innovations cited were:
    • Brand Research
      • Incorporating quantitative and qualitative research to ascertain the concepts that resonate best with customers
      • Using social media tools to “bake in” brand research insights into deliverables
    • Concept Testing
      • Utilizing more group concept testing to force participants to defend their preferred concepts to get more insight into their decision-making.
      • Using interactive dials during in-person portion of study
    • Brand Awareness
      • Incorporating mobile research
      • Combining demographic factors to create customized categories that contain more insights than traditional demographics
    • Customer Insights
      • Using more mixed methodology approaches to conduct research
      • Utilizing more emotional insight mining to highlight true drivers, barriers
      • Conducting mobile research for fast turnaround projects
Table of Contents

I.Executive Summary  pp. 4-20
    • Research Overview  pp. 4
    • Universe of Learning  pp. 5
    • Innovation Widely Dispersed but Thinly Seeded    pp. 6 
    • Key Findings  pp. 7-20
II.Universe of Learning: Key Demographics of Participating Companies   pp. 21-23
III.Innovation in Marketing Research Approaches  pp. 24-28
IV.Innovation in Marketing Research Tools  pp. 29-66
    • Using Innovation to Update the Use of Analysis Tools for Key Market Research Activities  
V.Marketing Research Trend Changes – Qualitative Trends  pp. 67-74
VI.Marketing Research Trend Changes – Quantitative Trends  pp. 75-80
VII. Emerging Market Research Tools in Non-Pharma Sector  pp. 81-88
VIII. Communicating with Consumers                                        pp. 89-91
IX.Trends in Consumer Communication  pp. 92-98
X.Evaluating Direct-to-Consumer Marketing  pp. 99-101
XI. Lessons Learned and Pitfalls to Avoid   pp. 102-106
XII. Appendix   pp. 107-118
XIII. About Best Practices, LLC  pp. 119