We’ve all heard of the phrase ‘the customer is always right’. Businesses have been built upon such an idea and despite the general opinion which says otherwise, companies nevertheless continue to strive hard to please their customers. Any good and well-directed business venture knows that the key to selling good products is in knowing the wants of your customers. The products and service that they sell are mostly subjective to the likes of their customers. While companies control production designs and product packaging concepts, it is consumer interest which dictates whether a product remains or is discontinued.
This is where customer marketing research comes in handy, as the great influence which customers have over companies practically govern their every move. As its name suggestions, customer marketing research is the in-depth study of customer ideas and opinions which are thought to be useful or influential in the development and improvement of products. Throughout the evolution of consumer marketing tactics several data collection methods have been developed for many circumstances, and while the majority are very commonplace, there are also subtle methods of data collection. Surveys are among the most common forms of data collection and they have been around for quite a long time now, albeit some subtle changes have been met to adapt it to modern usage. There is a general dislike for surveying, whether it is offline or online, and while online surveys are one of the cheapest methods of marketing research there is, the results taken from these surveys are often unreliable or inaccurate.
Product monitoring is yet another form of consumer marketing research which aims to silently monitor specific product choices made by consumers in order to determine what sells and what doesn’t. The majority of people are practically clueless about this practice however, adding to its efficiency. The choices that we make while shopping, though a simple enough act, carries with it dire consequences for certain products which can be discontinued if interest isn’t high enough. Sales and the continuation of a product or brand are also determined by this subtle monitoring.
Other consumer marketing research tactics include customer satisfaction research and distribution channel audits which gauge the interest, satisfaction and overall popularity of a product for certain customer niches. There are also procedures like brand equity and brand associations which strive to set into figures the popularity and general idea or ‘feel’ that a product has towards certain customers. There are many other consumer marketing research tactics out there so you’ll never run out of ways to find what your consumers are looking for, making it easy for you to ‘live and deliver’.