How Does Market Research Help Brands?
In continuation from yesterday’s topic of Market Research in the second part we'd like to illustrate the importance and necessity of it through case study examples of some companies how they have changed using market research.
Apple has been the largest name in technology for years. This is not necessarily, because they are the most innovative. Instead, it is because they use market research to find out exactly what their customers want from their devices; they then figure out how to make those wants a reality.
Their “Apple Customer Pulse” research group is a prime example. Because these are online surveys, the company is able to compile and analyse the data faster, and the surveys are easy to administer, without much effort. This makes the market research more appealing to those that participate, as well as to the company.
These surveys have led to different designs and modifications of Apple products. Such modifications include having bigger screens to view videos and games more clearly.
Kellogg’s used market research to develop a counter-intuitive positioning for the cereal. Market research conducted of U.S. consumers revealed that the most important attribute when choosing a breakfast cereal was taste, followed by other factors such as wholegrain content, familiarity of flavor, fiber content and sugar content. Marketers at Kellogg’s noted that the competition was almost always highlighting usage factors.
The majority of cereals positioned themselves on health factors, such as helping to lose weight, boost fiber intake or help fight heart disease. Kellogg’s introduced Crunchy Nut using the taste angle. The product was marketed on the fact that it tasted great and entire campaigns were built around that notion. Without market research offering core insights into the needs of cereal consumers, marketers might have fallen into the trap of finding a more traditional angle to their messaging and failed to stand out in the crowd.
In order to keep on the leading edge of consumerism, businesses must be willing to listen to customers. Whether it is over the phone, mail, online, or using focus groups, there is no excuse for companies to ignore market research. Understand your market and make careful investments in product development.