What is the Focus….
Of Your Market Research Project?
When discussing the specifications of a market research project with a client, I try to determine the objectives of the research study. I look to see if the project is customer-centric.
In most studies, I find that there are different competing objectives such as:
• Measuring customer satisfaction or customer loyalty;
• Comparing the client company against its competitors (products and services, technological platforms, pricing, target markets, sales and marketing strategies, etc.);
• Market awareness; etc.
All of these objectives have their merits, but the focus of any market research study should be customer-centric: developing products and services from the customer’s point of view with the objective of meeting the needs of the customer not only from the standpoint of creating the best possible products and services but also making the experience of accessing and using those products and services as rewarding as possible.
If the focus of the market research study is not focused on the customer, it is likely that you are not getting the best use of your time and money.