How well a product is designed determines its success amongst consumers which in turn can either make or break a company. What sets apart a great from a good product design is entirely dependent on finding and leveraging the right consumer insights.
This is where ‘Market Research’ comes in. Market research is a systematic process of seeking out ‘insights’ into a consumer’s needs and desires, analysing data that can be converted into actionable information. In this Conversational Masterclass, Jairaj Jatar, Head of Advertising & Research at Fifth Dimension – a research pundit who has spent almost two decades homing in on the most relevant consumer insights to build brands, simplifies ‘Market Research’ for you.
Right from its definition, role, importance, types and finally converting research into a strategy, we take you through the fascinating world of ‘Market Research’ one concept at a time. Tune in.
Introduction - Sreeraman Thiagarajan [ 08:38 ]
Research is what sets the ground for a good strategy. In this episode, we discuss the fundamental role of research in market research, the difference between ‘market research’ and ‘marketing research’, the importance of research, and at what stage it is needed. We also explain the buzzword 'insight' and how decision-makers can use it.
Types of Research - Sreeraman Thiagarajan [ 33:25 ]
Types of Research
Choosing the right type of research is dependent on your company’s goals. In this episode, we discuss different types of research, the process of conducting it, and their viability for achieving a set of objectives. Exploratory vs Descriptive, Secondary vs Primary, Qualitative vs Quantitative, and more.
Design and Research - Sreeraman Thiagarajan [ 28:17 ]
Design and Research
Decoding a problem statement is the first step to formulating a robust marketing strategy. In this episode, we explore defining problem statements, sampling techniques, bias and error management, observation techniques in qualitative research, testing and optimizing, and effectiveness of online vs offline surveys.
Measurement Concepts - Sreeraman Thiagarajan [ 13:42 ]
Research involves a systematic collection of data. However, once you have the data what should you measure? In this episode we comprehend the basics of measurement scales, measuring attitude, physical quaire vs online quaire, and backcheck and scrutiny to increase quality control.
Analysis and Presentation - Sreeraman Thiagarajan [ 10:39 ]
Analysis and Presentation
Converting data into usable information is as difficult as finding the proverbial needle in the haystack. In this episode, we decode how different statistical techniques can be used to analyse data sets and table them for presentation. We also cover, best practices and mistakes to avoid.