1 / 5

Why Qualitative Consumer Research is Essential before Product Launch

Qualitative consumer research has proven to be an important tool in gauging the success of a product launch. By undertaking a thorough research companies can avoid expensive failures and ensure a bestseller. <br>

mohitrao057
Download Presentation

Why Qualitative Consumer Research is Essential before Product Launch

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Why Qualitative Consumer Research is Essential before Product Launch Qualitative consumer research has proven to be an important tool in gauging the success of a product launch. By undertaking a thorough research companies can avoid expensive failures and ensure a bestseller

  2. Product perception A good research team will start with the product itself. How do your potential customers view it? Here the team often demonstrates the product and its uses to a select group. There are various tools to gather data, which is then studied to find out the initial reaction of the consumers. Do they seem confused? Is it too complicated? Does it elicit instant recognition or need? Or do you notice a lack of palpable interest Qualitative research uses different tools to study the consumers, including non-verbal responses. This gives you better idea of your product is likely to do in the actual market. It can be crucial in singling out kinks or lacunae that can be easily fixed.

  3. Consumer motivation Qualitative Consumer Research focuses not only on the how, when and where of consumer behaviour, but also the why. In other words, the major function of qualitative research is to study consumer motivation. Why do they buy similar products? How do they view competing products? What makes them choose a product. Their behaviour towards competing products and services can give you a useful insight into your own product’s potential. Demand assessment Qualitative research often focuses on the existing demand in the market. Many great products often fail because of lack of any demand or over-saturation of similar products. In such cases, research can show a more realistic picture of product demand in the market. It can also expose a hitherto ignored demographic, giving you newer markets to target.

  4. Branding decisions Branding, packaging and design are critical elements in creating a first impression. By exposing your product to a select group, you can study the initial reaction it generates. Sample groups often expose faulty design or a packaging mistake that can prove costly in the long run. While a successful response may not always ensure a rip-roaring success, a less than welcome response should be a cause for concern. If your sample group found your branding offensive or the design too complicated, chances are that the wider market will also think the same. Effective marketing strategy Finally, qualitative research is very effective in evolving the most effective marketing strategy. Research parameters can be widened to include all marketing areas –– from promotional plans to pricing decisions. Consumer reaction to these main areas are indicative of the success of your product’s performance. In short, qualitative consumer research gives one a clearer picture of how your product will do in an actual market. You can then use the results to improve product design, find newer markets and tweak your campaign.

  5. Thank you

More Related