- Consumer research – Conduct keyword research and use the Consumer Research Tools learned and demonstrated in class to determine or predict consumer behaviour and trends for this product/service in the United Kingdom. How can the client better market their target participants? Produce recommendations for the client?s platform and Value Proposition based on your findings. For this section, you are encouraged to follow the steps outlined under Solutions to Consumer Research Tools, which we discussed, practised and agreed in class.
- Competitive analysis – Research how the client can best appeal their target market by analysing the top competitors in his industry. Produce recommendations for the client?s platform and the right pricing strategy based on your findings. (A step-by-step methodology for this section will be disclosed at the beginning of Week 4 in class.)
- Annotated bibliography – Produce an annotated bibliography (from your perspective as a researcher and in your own words) that explains the significance, reputation and relevance of each of your references.
Make effective use of Data Visualisation Tools throughout your report to present your findings.
Solutions to ?What is the best methodology for consumer research in order to uncover our client?s real VP??
Depending on the client case, select the most appropriate course of action. Generally, these are the 6 steps taken for a client like ours, and in this order:
- Conduct secondary research: Review market data that has been published by other organisations. Depending on the market in which you reside, you may be able to find consumer feedback and marketing data about your company and competitors on government websites or in online trade journals. Have market research companies and search engines analysed your target? Check ready-made solutions like Think with Google UK. Has the market already been segmented? Look for it via market research tools like Nielsen?s Claritas MyBestSegments (USA) or Acorn UK. Consider other environmental factors that relate to the key research question.
- Conduct keyword research and analytics: Follow the process learned and practised in class to figure out consumer needs and wants, most shared content and competitor strategies. Don?t rely entirely on search engines: also conduct keyword research within relevant e-commerce platforms and social media.
- Review your secondary and keyword research data to figure out what?s still missing.
- Conduct primary research: Follow the method: ?Ask the consumer, ask the influencer, ask the competitor, ask the expert.? Via interviews, focus groups and ?instant communities? for small samples and questionnaires and surveys for samples over 500. Many digital tools facilitate primary research.
- Create 2 or 3 customer personas based on your findings above. Consider the entire customer journey – each stage will provide different findings. Don?t make them up!
- Must be a minimum of 2’000 words
- APA format