[9.4] Market Research Essential idea: Market research is any organized effort to gather information...
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Transcript of [9.4] Market Research Essential idea: Market research is any organized effort to gather information...
[9.4] Market Research
Essential idea: Market research is any organized effort to gather information
about markets or customers.
The Purpose of Market Research
often identifies : • how to improve a product, service or system• how to increase its chance of success within a
particular sector or segment.• the price a user is prepared to pay• determines the constraints a designer has to
work within
Costly & Time consuming but vitally important
Consumer Awareness • Gathering information in order to be able to
generate a brief and specification for a product.
• Identification of target market • Identify target market demographics
Costly & Time consuming but vitally important
Competing Product Awareness
• Evaluating the market potential of products at various stages of development
• Developing ideas into products to suit market requirements.
• Identifying suitable promotional strategies, what are competitors doing? What are they not doing?
Costly & Time consuming but vitally important
Developing an awareness of the wider market • Collecting data relating to economic trends • Taking into account technological trends and scientific
advances and how consumers perceive these changes.
• Considering consumers reactions to technology and green design and the subsequent impact on design development and market segmentation.
• Is the market sector and segment static or volatile? • What is driving change (if any) in the market?
Primary Market Research - Product
Attribute analysis • An analysis of competing products by breaking the products down
into all its attributes, form, appearance, materials, function, weight, ergonomic factors, manufacturing techniques, component parts etc.
Primary Market Research - Product
• Attribute analysis
Primary Market Research - Product
Competing Marketing • How are products currently promoted or marketed?
Primary Market Research - Product
Product testing • Observed testing of a consumer using a product, how
do they interact? How does the product perform?
Primary Market Research - Product
Product Disassembly • Full disassembly of
competing products how are they manufactured, cost analysis for materials, production methods and assembly.
Primary Market Research - Consumer
• surveys• User trial• observed product
interaction• Interviews• focus groups.
Secondary Product Research
• market analysis• size of market sector • size of segment • number of units sold • value of market
Secondary Product Research • Geographical distribution of consumers
Secondary Product Research
• Literature search
Secondary Product Research Perceptual mapping
Secondary Product Research Environmental scanning
• defined as ‘the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market.
Secondary Product Research
Expert Appraisal
• An expert in a particular field is chosen to give their opinion
Secondary Consumer Research
• Demographic data, population size, gender mix, age profiles, average income, disposable income etc.
Task
Look back at the methods of collecting research and identify:
• Advantages• Disadvantages• Whether data collected if qualitative or
quantitative• How reliable the data would be• Costs (expensive or low cost)
Task
• Discuss the importance of research to the design development process.