Showing posts with label Focus group. Show all posts
Showing posts with label Focus group. Show all posts

Sunday, April 10, 2011

Market Research is DEAD!

  Ok, well market research isn't totally dead, but according to Martin Lindstrom market research will be changed forever with neuromarketing. In his latest book Buy-ology Linstrom shares the results of the most extensive neurological study ever done. 
   Instead of asking people what they think or asking them to share the reasons they purchase the way they do, Linstrom and his team watched the brain while asking people questions or showing them images. One of the most shocking revelations was the fact that the anti-smoking campaigns were actually working for the tobacco companies. Linstrom interviewed several smokers and asked them if the warning signs bothered them when they purchased cigarettes. One woman said that it did, however when they did a scan of her brain when she looked at the warning sign, a signal rang in the motivator area of the brain. It was doing the opposite of deterring her, it was motivating her to purchase that cigarette. While it is unknown as to why this happens it is a huge insight into the behaviors of consumers. It also answers the question of why more people aren't quitting smoking when they see those warning signs.
   Because of findings like these, Lindstrom believes current market research techniques will soon die and new ones like these (neuromarketing) will take over. While current market research techniques like focus groups and surveys have their flaws that need to be flushed out still, I think we are still a long way from actually being able to use neuromarketing as a research tool. For one it is incredibly expensive to use the machinery for tests. Second, neuromarketing is a great tool for the aftermath of a marketing campaign. It can show researchers what part of the brain is triggered by certain ads, however it will never be able to tell researchers what the consumer wants in the future. To find this information out, I think focus groups and surveys is the best way to do it!


   Where do you think market research will go? Will tMRIs become cheaper and allow more people access to using them? Will marketing start working on the neurological level- if so, how will they do that? Lots to come in the next few years of marketing and I'm excited to see!!


Sunday, February 27, 2011

GutCheck!

Here is another example of how powerful the internet is for any company to get valuable information for very little cost. GutCheck is one the latest tools companies are using to hold focus groups over the internet. It allows market researchers to interview people one on one via an instant messenger platform, or do an entire group on the instant messenger platform. One of the largest challenges with focus groups is that there are always one or two people who will dominate the conversation. This tool allows market researchers to talk to everyone individually and get the most out of all of their participants. 
Another huge factor is diversity in geographic locations. Unless marketers are willing to spend the money to do focus groups across the country, the group is not very representative of the country. This could potentially skew the results of the focus group. Lastly there is costs. As the video below mentions it costs on average $700 per participant, whereas GutCheck is $40 per participant.

The only downside to this website is, the participants are actively online and willing to participate. Which means there might be a demographic/ psychographic that may be missing from this area. However, every tool has their downsides, its up to the market researcher to fill in the missing pieces with other tools!




To learn more about GutCheck check out their website at gutcheckit.com
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