CHAPEL HILL, N.C., Nov. 1, 2013 /PRNewswire/ -- Consumers across industry sectors are using new technologies to educate themselves and make critical purchasing decisions. Correspondingly, consumer-oriented companies are adjusting their marketing playbook and market research analysis methods to reach this growing segment of technology-savvy consumers.
To help organizations better engage and understand these consumers, research and consulting leader Best Practices, LLC conducted a comprehensive research study that probes current and evolving innovative approaches for consumer marketing research and marketing communications.
Study participants who use emerging market research tools indicated the tools' ability to speed up the research process and to provide better insights were the principal drivers behind their use. In an exception, social media listening was embraced because of its low cost, participants said.
The new study, Consumer Marketing Research Innovation: Assessing New Tools, Technologies, and Approaches to Understand and Communicate with Consumers, addresses many critical consumer marketing issues, including new media for interacting with consumers, new qualitative techniques for insight mining and new quantitative techniques for market research data analysis. The report presents data on two segments: non-pharmaceutical companies and the Total Benchmark Class.
One of the many findings from the study: Online qualitative research is an emerging tool that removes the geographical and scheduling barriers associated with focus groups. The tool's rapid technological advances have made it much easier to quickly capture consumer insights. A caveat: Despite online qual's rising stock, market research leaders still believe face-to-face has a place in qualitative research and thus the best strategy is to find an appropriate balance between the two approaches.
Key chapters in the study include:
- Innovation in Marketing Research Approaches
- Innovation in Marketing Research Tools
- Using Innovation to Update the Use of Analysis Tools for Key Market Research Activities
- Marketing Research Trend Changes – Qualitative Trends
- Marketing Research Trend Changes – Quantitative Trends
- Emerging Market Research Tools in Non-Pharma Sector
- Communicating with Consumers
- Trends in Consumer Communication
- Evaluating Direct-to-Consumer Marketing
- Lessons Learned and Pitfalls to Avoid
- Secondary Research on Future Trends in Market Research
Best Practices, LLC engaged 59 Market Research leaders at 58 companies through a benchmarking survey instrument. In addition, research analysts conducted executive interviews with eight selected respondents to collect qualitative data and insights. To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1243.htm.
For more information on other recent primary research studies, contact us at 919.403.0251 or visit our website at http://www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.
SOURCE Best Practices, LLC