Author: Arsalan Safi
Read Industry Publications: One way to hone in on market trends unique to your industry is to read the publications that are reporting on the current issues.
Use Industry Trends Analytics: Digital analytics tools for consumer behavior insights can help you get the bigger picture on your market and how it relates to the greater economy.
Observe Your Competitors: If all your competitors are doing something, does that mean you should do it? Maybe yes, or maybe no. But observing their marketing is a way to make more educated decisions.
A moment’s insight is sometimes worth a life’s experience.” Oliver Wendell Holmes Jr.
Exploratory Research: This approach is used to better define a problem and your organization’s opportunity to solve it. This research is usually conducted through in-depth customer interviews or discussions.
Descriptive Research: This approach is used to determine if a product or service is a good fit for the market, or to judge the general attitudes of customers toward a service or product. In addition to interviews, surveys may also be used.
Causal Research: This market research is used to test scenarios or determine cause-and-effect. This might be conducted through focus groups or A-B testing to see if changing one aspect of the pitch or marketing strategy changes the outcome with customers.
A trend gains power over time, because it’s not merely part of a moment, it’s a tool, a connector that will become more valuable as other people commit to engaging in it.” Seth Godin
ABOUT THE AUTHOR
Arsalan Safi, Sr Research Analyst
Qualified as MBA Marketing, Arsalan has 5+ years of experience in marketing research. Arsalan has worked in global research houses including Nielsen having worked on diverse research projects for multiple industries & sectors across Pakistan and GCC. His passion is to extract and embellish meaningful insights from a range of studies and nature.