We hear the concerns of our clients daily: The influence of social media and omnichannel on marketing channels has exploded, shifting power to the shopper. Personalization has turned traditional retail, brand and service relationships upside down, challenging your ability to create meaningful experiences, persuade consumers and generate growth.
Add to this a massive change in the way consumer goods market research is conducted and reported. While comforting, traditional research is less able to generate the insights brand and sales managers need to innovate, elevate brand and category growth, open new markets and enhance or refine retailer strategies. This is why Market Strategies takes a unique approach when it comes to our consumer goods industry analysis.
While it's popular to focus on research techniques, we believe it's more important to focus on four areas that help you connect research insights to the business challenges you're facing:
Capturing and analyzing the emotional (System 1/Fast Thinking) and rational (System 2/Slow Thinking) relationships a user has with your product or service will unlock brand and category growth in the next decade. We have built a systematic toolset to deeply understand and model emotional connections to provide you with new insights and levers to use in strategic planning.
Developing new products and solutions to grow the business or open new markets continues to be a top priority. Yet despite an unprecedented number of usage and attitude data points from Big Data, social sharing and 24/7 connectivity, most new products fail. That's because throwing more data at the problem isn't the solution. Using the right data is.
The key to identifying opportunity for innovation is to observe and interpret what the consumer hopes to achieve. We've built a Product Development research protocol that uses crowdsourced information to identify the unique circumstances, characteristics, product attributes, trends and technologies consumers use to disentangle the glitches in their lives. Innovation springs from these insights by resolving problems that once did not have a good solution.
Sure, traditional “reported” behavior tools like online surveys and focus groups still play an important role in retail market research and brand relationship analysis, but they must be augmented with new methods of observation. We use passive metering, social media analysis, neuroscience, eye tracking and virtual reality to capture and interpret the consumer-brand experience. But these cool, new tools are only a means to an end.
The end-game is to leverage the insights to make more informed consumer and shopper journey decisions. These sophisticated tools and analytics give you the ability to isolate the few factors that most move the needle with customers. Where others map a subjective path to purchase, we identify the 3-5 capabilities or characteristics that will have a material impact on the bulk of overall shopping behaviors.
Market Strategies is a pioneer in using Big Data, mining usage and loyalty data to inform primary consumer goods research. Layering multiple sources of quantitative market research data provides marketers with the “what” and the “why”.
FMCG Market Research
True to its name, the world of fast-moving consumer goods (FMCG) can change suddenly and without warning, leaving unprepared companies struggling to maintain market share and customer retention. The vast differences in how FMCG companies reach their customer segments and establish brand loyalty when compared to other industries mean they need a market research partner with an understanding of the FMCG industry and the agility to monitor market trends and produce actionable insights and studies. Market Strategies has the knowledge, experience and tools needed gather and assess data from all available consumer channels to help you make the decisions you need to keep up in an industry built on speed, delivery and responsiveness.
The Omnichannel Journey
Our smartphone culture has transformed consumer shopping behaviors and expectations. Devices are like all-day, end aisle displays stimulating impulse buying. Shoppers buy now–at specific instants of intent. With this on-demand mindset, consumers unconsciously turn to their devices for the easiest and quickest solution to deliver on their needs.
Market Strategies has developed decision tool options that allow you to peer into all of these instants of intent that exist in a consumer's daily life. We use these behavioral data to map product usage and purchase decisions made at every stage of the consumer and shopper journey as they discover, consider, decide and share their experiences.
Market Strategies is skilled at researching a wide range of consumers, shoppers and B2B audiences as well as healthcare and other professionals to secure reliable, accurate market intelligence domestically and globally.