Presentation on theme: "[9.4] Market Research Essential idea: Market research is any organized effort to gather information about markets or customers."— Presentation transcript:
[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 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.