Andrew Smith’s Post

📊 The Value of Market Research: Your Strategy’s Superpower In today’s competitive landscape, guesswork isn’t an option. Market research is the backbone of informed decision-making, giving you the clarity to outpace the competition. Here's why it matters: 1️⃣ Understand Your Audience: Dive deep into customer needs, preferences, and pain points. The better you know them, the better you can serve them. 🤝 2️⃣ Spot Market Trends: Stay ahead by identifying industry shifts and emerging opportunities before they become mainstream. 🚀 3️⃣ Minimize Risks: Test ideas, concepts, and campaigns before launch to ensure your efforts hit the mark. 🎯 4️⃣ Competitive Edge: Learn what sets you apart and leverage it to build a stronger brand presence. 💡 5️⃣ Refine Strategies: From product development to marketing campaigns, research ensures every step aligns with your goals. 🔍 Actionable Insight Drives Impact – Without research, strategies are built on assumptions. With it, you're armed with the knowledge to make data-driven decisions that lead to success. |How are you integrating market research into your strategies? Let’s discuss below! 👇 👉 Follow Madhav Vilpara for more insights.

The key to successful market research lies in the art of conversation. 🎨🗣️ By bringing together the right participants, group discussions can be truly productive and insightful. Learn how to cultivate engaging discussions by choosing the right research participants 👇 https://lnkd.in/eKvHbiKY

Wondering how to cultivate engaging discussions with the right research participants? Learn more 👇

🎯 Seeking Your Insights! Hello, LinkedIn community! 👋 I'm conducting a brief survey as part of my dissertation on sensory marketing. Your feedback would be incredibly valuable in helping us understanding the purchasing behaviour in offline and online shopping. This survey will take just a few minutes, and your responses will be kept anonymous. Whether you're a professional in the field or have experience as a consumer, your input will provide valuable insights! 👉 Click here to participate: https://lnkd.in/dbq4uRiF Thank you so much for your time and support. Looking forward to your valuable insights! #Survey #Research #Marketing #ConsumerInsights #YourFieldOrIndustry Feel free to personalize the message to better match your LinkedIn audience. Good luck with your survey!

🔍 The fun way to choose favorites!🌟 Are you often torn between favorites? MaxDiff is a sophisticated survey technique in market research designed to unveil people's top choices and least favorites among various options. 🔢 How it works: Imagine having a plethora of enticing options to choose from, like your favorite player or dream vacation spot. MaxDiff simplifies the decision-making process by presenting pairs and prompting you to select your favorite and least favorite from each pair. 🎯 Why it's remarkable: MaxDiff goes beyond just identifying your favorite; it also uncovers your least preferred option. This dual insight helps researchers grasp not only your preferences but also areas of disinterest, providing a comprehensive understanding of your tastes. 🤔 How it enhances insights: Market researchers rely on MaxDiff to discern preferences regarding products, brands, or concepts. It's akin to wielding a specialized tool that delves into individuals' minds, unraveling what resonates with them most and what falls short of expectations.

Tips for conducting local market research

We live in a data-driven marketplace. Many of the interactions you have with customers are online, and data is now a part of every transaction. When dealing with so much data, and with so much pressure to make things personal, how do you connect the two? It starts by recognizing the human behind the data point. Establishing emotional connections with consumers requires that you understand there are real people behind the data, with feelings, thoughts, and behaviors. These are actual mothers, fathers, daughters and sons with real-life needs and clicking through your website or liking your social media posts, not just targets. Campaigns should thus be centered on building relationships with people, not only data. What do you do to better understand the people behind your data? PS - This photo was from our first ever Retreat held in Colorado Springs.

With surveys, rushing the questionnaire design has the potential to completely destroy the final results. So when a client asks me what is needed to conduct a quick turn-around survey – I share three critical components I NEED from them to make the survey a success: 1.A confirmed objective/theme: This can’t be too broad, it needs to be very specific. Everything starts here. 2.Exact identity of respondents: Who are they? Job titles? All US or international? Genders? Ages? These are just a few and we then figure out how many respondents are needed. 3.Usage of results: Media outreach efforts? Thought leadership? Sales Campaign? It could be a combination of all of these…..and more! But DISASTER awaits if….. There is NO feedback from the Public Relations, Marketing, Demand Gen, Sales, Internal Research Teams and all stakeholders who will eventually use the data. They need to see the questionnaire and be involved BEFORE fielding the survey. Always. All have different uses with the results so they all need to see the questions and contribute thoughts early on. #PR #Marketing #marketresearch

You be the judge of this strategy. I am travelling and collecting pricing strategies on the go. Found this interesting. The price/gb didn’t make sense. I am paying more for more which is against populat pricing opinion. But then I saw the extra 15 days validity. Maybe the extra price per gb is a tradeoff.. Two different price fences: Data Validity Knowing your fences are important in pricing. Fences are what segments your market: It can be: Product version: Good better best Size: volume fence Demographic: Age Consumption Geography And many more. —————- Write about pricing, discounting, revenuemanagement and careers..