Market research is an interconnected component of our creative process that systematically informs targeting, positioning and determines strategic messaging. It’s more than just a priority– it’s a necessity.
Businesses often ask about our creative process, how we get from point A to point B to achieve desired results. It’s a reasonable inquiry to want to know the plan of action. The answer is simple. Our creative process always begins with market research. Then, designs and communications are created accordingly from there, depending on a variety of factors.
What is market research?
Market research is the process of gathering information about consumers’ needs and preferences. It entails various methods for data collection and analysis, including primary research (communicating directly with consumers) and secondary research (analyzing a database or statistics from a general census).
Why is it so important?
The purpose of market research is so that we can adapt our marketing communication to appeal to that specific group. When starting a project, we do not go straight to a computer and begin creating art. We don’t even start sketching ideas right off the bat yet, because to do so would be aimless. Good design is purposeful. Achieving an effective design requires research, analysis and goal setting.
Qualitative research is used for us to gain a better understanding of the qualities of consumers and uncover common trends in thoughts, opinions and motivations. We often conduct in-person focus groups (group discussions), individual interviews and participatory observations. Data collected in this manor helps provide us with insights into the real world problem at hand and allows us to develop ideas and hypotheses for potential quantitative research.
Quantitative methods emphasize objective measurements. We use this type of research to analyze data collected through general consensuses in polls, questionnaires and public surveys. It expresses the problem at hand by way of generating data that can be transformed into useable statistics. We are able to interpret general patterns among consumers’ attitudes, opinions, behaviors and other defined variables among a specific population. This way, we can use measurable data to formulate facts and uncover patterns in our research.
Another basic component of our research includes performing a marketing SWOT analysis. This is an evaluation process where we gather information and outline the strengths, weaknesses, opportunities and threats of the company’s current marketing efforts. We usually break it down into a list of bullet point items.
Strengths would include current marketing efforts that are working well and bringing desirable results.
Weaknesses would include all the areas in which your efforts fall short. It also includes all the things you could and should be doing but aren’t.
Opportunities would be a list of potential areas to excel. This may involve some tedious and time consuming investigating, but it’s always worth it when you find new opportunities that lead you down a path to success.
Threats would be a list of your top competitors’ marketing campaigns or other environmental conditions that may affect consumers’ perception about your business. The opportunities section should address ways to overcome potential threats.
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