Whether you need to better understand your current marketspace or explore a new market opportunity, there are
a number of structured tools we can bring to bear on analyzing and delivering
information to understand your market, including:
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Trend Watching and Analysis - Political, Economic, Social, Technical, Environmental (PESTE)
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Ethnography - going beyond focus groups
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Tapping your enthusiast community - forums, lead and fringe users.
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Consumer/Customer unmet needs analysis
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Market segmentation
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Market space creation
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Sales forecasting (data based)
Going beyond just understanding your market, more specific Market Analysis and Consumer Research tools are needed to answer specific questions regarding your innovation projects and the markets response, before making the major investments. Depending the situation, the following tools answer those questions from product concept reception to optimal launch strategy !
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Concept and Consumer testing - the importance of iterations and quality
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Finding your customers Important Unmet Needs! - benchmarking, brainstorming and beyond
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Perceptual Mapping with Consumer Value Modeling
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Conjoint analysis with Consumer value modeling with market share and sales forecasting
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Market Choice Behavior - beyond functional features - understanding consumer values including Funtional, Conditional, Social, Emotional, and Epistemic.
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Innovate the BIG picture - Product, Price, Promotion, and Place (distribution) Innovations
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Market Choice Behavior - beyond functional features - understanding consumer values including Funtional, Conditional, Social, Emotional, and Epistemic.