For most business needs there are several good ways to find a market research approach. The table below sets out some thoughts about the most widely used techniques for four categories of business needs.
1 How many X do Y?
Within this heading I am including product/service usage and attitude mapping, customer satisfaction, and ad tracking and awareness. The key need is to quantify things so that they can be managed. For example, quantitative ad tracking allows the buyers of advertising to measure the effectiveness of their expenditure, at least in terms of the number of people reached, the number recalling advertising, and measures such as brand recall and stated purchase intention.
There are two key MR techniques:
- Passive / Big Data (including social media)
2 Reactions To & Predictions About a New Y or New Marketing for Y?
This heading relates to testing new products, new advertising, new marketing etc. The needs range from understanding how people interpret and react to a new product through to predictions about future sales.
There are a wide range of MR techniques available for this category of needs:
- Surveys (plus modelling for predictions)
- Implicit and non-conscious techniques
- Usability testing
- A/B testing (for predictions, not understanding)
- Prediction markets
- Qualitative research (for understanding, not predictions)
3 Why do people do Y?
In most cases, companies want to understand why people do things because they want to identify options for change, options for improvements, options for new uses or products.
There is widespread agreement that you can’t simply ask people why they do things, the key MR options are:
- Qualitative research
- Surveys with advanced analysis (e.g. regression or conjoint), possibly utilising implicit and non-conscious techniques.
- Behavioural Economics – e.g. setting up a controlled experiment
4 New Ideas for Y
This is an area of growing interest, accompanied by the realisation that there are more smart people outside your company than inside it.
- Qualitative research
- Crowdsourcing platforms (which usually combine suggestions, edits, and some form of voting or prediction market assessment).
Do you feel my four headings cover most of the key needs that businesses have? What about the techniques, are there others that are in common use?
Note, you may feel that one or more of these techniques is not suitable (e.g. surveys for understanding why), but my point is about which techniques are in broad/common usage.