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Market Research Training

Whether you think of it as computer-based training, eLearning, or whatever, the idea of accessing learning material over the Internet is powerful. Research Rockstar is dedicated to offering convenient access to practical content. Plus, because the material is all online, it can be easily customized if your team has special interests.

[We offer classes on market segmentation, product concept testing and many more. Buy a single class, or sign up for an annual membership]

Segmentation models vary from basic to complex, and the approaches to developing and applying them is a topic for an entire book itself. But here are three examples of the very real benefits a segmentation model delivers:

1. Plan product roadmaps. It’s a lot easier to craft a roadmap when you have internal agreement about the profiles—including needs and behaviors—of the most attractive customer segments. If decision makers share a common view of what the most attractive segments are, and their emerging needs, planning new products and product improvements becomes a far more time and resource efficient  process. Not to overlook the obvious benefit that customer-inspired product ideas are more likely to succeed.
2. Embrace niche marketing. Few companies can afford to compete with the big fish in the big pond. Instead, a segmentation model shows you how to be a big fish in a little pond—or several little ponds.  A segmentation project can be designed to identify, profile and select profitable niches.
3. Setting your budget. Why let a marketing budget be set by something arbitrary, such as percent of sales? A segmentation model can provide a more meaningful, analytical approach. Given the size of attractive segments, and objectives for each segment (awareness/preference/market share, etc.), a strategic budget aligned with actual goals can be built. When you take this approach for the first time, you will likely find yourself investing less in some marketing programs, and more in others.

These are just 3 examples—there are many more. Indeed, there are many ways that a segmentation model can help your organization make money and save money. That said, actually creating a segmentation model is fairly complex, and success requires a very thoughtful planning process. Before you start, I strongly urge you to get assistance from someone who has experience with these types of studies—either a  consultant or a market research agency.

For those interested in learning more about market segmentation, I have three offers for  you:

First, please check out my new white paper, “9 Ways Market Segmentation Improves Business Success.” GET WHITE PAPER

Second, check out the preview of the new, 53-minute online introduction to market segmentation, “Divide & Conquer: Practical Steps to Market Segmentation Success.” CLASS PREVIEW [Research Rockstar VIP members: please note that this class is currently available in the members’ area—just log-in, click, and view!]

Third, for those interested in on-site training, I now have a more in-depth, 2-hour version of the online class, which includes interactive exercises for teams planning to create a market segmentation model. For a class outline, email me at KKorostoff@ResearchRockstar.com. Thanks!

Do your clients (whether internal or external) prefer 6 small “meals” a year? Or 2 giant ones?

Do they like a 4-course meal spread over hours, or everything stuffed onto one overflowing plate to be consumed in 20 minutes?

The frequency and size of meals varies dramatically country-to-country—as anyone who travels internationally knows.

And companies’ tastes for data vary as well.

I have worked with organizations where internal clients simply have no appetite for mega-studies. They simply can’t—or won’t—tolerate them. Fine; in those cases we just have to get a little creative and break their research (either how it is conducted or how it is delivered) into more bite-sized pieces.

I have also worked with organizations where the internal audience thrives on data. Where, in fact, the more elaborate and sizable the research, the more they respect it.

So what type of appetite do your clients have? Do they like to graze or gorge? Do they like to eat fast or take their time? And what does it mean for how you share customer insights and other data with them?

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