Best Practices in Innovating within Market Research to Reach Consumers: How New Tools, Technologies and Approaches Improve Understanding and Communicating with Consumers
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.
Understand the Key differences between SMO and SMM
Best Practices in Innovating within Market Research to Reach Consumers: How New Tools, Technologies and Approaches Improve Understanding and Communicating with Consumers
1. Best Practices in Innovating within Market
Research to Reach Consumers:
How New Tools, Technologies and Approaches Improve
Understanding and Communicating with Consumers
Best Practices, LLC Strategic Benchmarking Research
BEST PRACTICES,
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2. 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
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3. Table of Contents
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
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4. Research Project Objectives, Methodology & Results
Best Practices, LLC conducted this cross-industry benchmarking study to identify current and
evolving approaches for consumer marketing and marketing research techniques and tools. This
study contains extensive qualitative data.
Study Overview
Research Objective: New technologies are
transforming how consumers educate themselves
and make critical purchasing decisions.
Correspondingly, across industry sectors the
consumer marketing playbook and marketing
research analysis approaches are evolving to
better identify winning tools and techniques.
This cross-industry study addresses topical issues
that include new media for interacting with
consumers, new qualitative techniques for insight
mining and new quantitative techniques for
research data analysis.
Methodology: Best Practices, LLC engaged 59
Market Research leaders at 58 companies through
a benchmarking survey instrument. Of the 58
participants, 41 were from non pharma segment.
In addition, research analysts conducted executive
interviews with eight selected respondents to
collect qualitative data and insights.
Topics Included
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
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®
LLC