Recent social psychological research on consumer decision making suggests that making choices and deciding among alternatives depletes mental energy. With each choice we make, it gets harder and harder to make the next choice, and our brains start looking for “shortcuts” to make the task easier. The research, reported this week in The New York…
Versta Research just hit a magic number: 100. That’s the number of articles we have written to help our clients and their colleagues keep abreast of important trends in market research. If your market research supplier is not providing ongoing thought leadership in design, methods, and analytics, then what are the chances they are bringing…
This past week the American Marketing Association in Chicago held its 2011 annual BrandSmart conference, bringing together top-level marketers from companies such as Groupon, Motorola, Allscripts, Cars.com, Deloitte, Coldwell Banker, Accenture, Hospira, Walgreens, Blue Cross Blue Shield, Grainger, Morningstar, and many others, all of whom shared the newest strategies and case studies for brand building…
Executives who lead entrepreneurial firms have dramatically different attitudes about market research from their counterparts at larger established firms, according to a recent study from Saras Sarasvathy, an associate professor of business administration at the University of Virginia. The study suggests that entrepreneurs are more focused on immediate and practical questions that will help them…
Ever since the well-publicized “jam” experiments published ten years ago, product managers have been cautious about assuming that more choices generate higher sales. The investigators of the research found that more consumers purchased a jar of jam if the sampling table offered six varieties instead of 24. And there has been a healthy literature and…
After spending $65 million and previewing the show over sixty times since the end of last year, the producers of the new Spider-Man musical in New York are turning to focus groups and surveys in hopes that market research can do something…anything…to save the amazing Spider-Man from destruction. Last week, theater critics roundly panned the…
In July, I moderated a panel of thought leaders in market research to ponder the question: “How Will Social Media Change Customer Satisfaction and Loyalty (CS&L) Research?” The event was sponsored by the American Marketing Association, and included participants from GfK, Maritz, MARC, SAS, Market Tools, and Versta Research. A partial transcript of our panel’s…
Many assume that rigorous market research always works with random samples or probability samples. This assumption is not true. There are many studies that require purposive sampling instead. Purposive sampling involves finding people with specific characteristics or qualities, even if they do not fully represent the whole population, because these specific people can provide unique…
An article in the most recent issue of the Harvard Business Review (“Rethinking Marketing”) argues that marketing is shifting from being product-centric to being customer-centric. The old method was to develop a portfolio of products, build a team around each product, find the customers who need that product and market it to them. The emerging…
Years ago I watched a film that documented how a new product developed. The idea was to create a pre-packaged sandwich for quick and easy lunches. As the idea made its way to the final product launch, it became something entirely different: a round tubular pretzel with a soft gooey interior – now a snack…