Pros and Cons of Market Research Tactics

Mind the Product

As the product manager survey results that we published on Mind the Product suggested, listening to the market doesn’t happen enough among enterprise software designers. This is probably the most common means of gathering market feedback by product managers, and with good reason.

Market Research Needs to Evolve

Generation Focus

Market research has always been an important component of branding. But market research has barely budged an inch. This article from Digiday tells us how lead marketing directors know it’s time to approach market research differently.

Market Research vs User Research: How To Overcome Uncertainty

UX Studio

But by doing the right research at the right time, you can get the information you need to advance. Easier said than done… Is it not just a question of market research vs user research? We wrote this to help you choose the right research methods more easily.

Market research is easy. Visit customers

Under10 Playbook

Market research is easy. Time to market: 10 minutes. This market research technique is what Luke Hohmann calls “The Apprentice,” in his book Innovation Games. Visit customers, with or without sales people. Go on sales calls. Go to user group meetings.

Build Delightful Products with Customer Validation

Speaker: John Little, Head of Product Marketing, Centercode

The entrepreneur’s ultimate guide to market research

The Product Coalition

While researchingmarket research”, I found it’s one of those topics that can be overwhelming, simply because I had to go through endless sources, most of which are very similar, and each carrying only a small piece of the puzzle. What’s Market Research?

How do market researchers add experimentation to drive better business outcomes?

AlphaHQ

Look no further than Amazon – in a 2017 letter to shareholders , CEO Jeff Bezos, credited a decision-making model for the company’s ability to deliver value to the market faster: “Most decisions should probably be made with somewhere around 70% of the information you wish you had.

User Research and Market Research are Better Together

UserInterviews

While market research and user research are different disciplines, each can inform the other for better marketing, products, and user experiences

Why Agile Marketing is the Key to Successful Products

280 Group

Can Agile Marketing give you an edge? The past five years have witnessed a sea change in marketing methodologies and processes at a rate that continues to accelerate. The post Why Agile Marketing is the Key to Successful Products appeared first on 280 Group Product Management.

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User Research and Market Research are Better Together

UserInterviews

While market research and user research are different disciplines, each can inform the other for better marketing, products, and user experiences

TEI 163: Rookie mistakes in market research product managers must avoid – with Gerry Katz

Product Innovation Educators

One of the skills you need as a product master is customer and market research. It was an episode several listeners really appreciated and I have invited Gerry back to share more of his expert experience with market research.

Conducting market research–and other innovation insights for product managers Aug 25, 2017

Product Innovation Educators

Tips for conducting consumer and market research for new products. Each week I scour articles, wading through the dogs, and bringing you the best insights to help product managers and innovators be heroes.

First to Market Story: Facebook Home alone?

Obo

This is the second in a four-part series of posts on epic product fails and how better market validation might have prevented them. It’s possible that Facebook is even behind Google in terms of only market testing with existing customers (by definition people who find Facebook valuable).

Product Discovery Tips

Roman Pichler

I find it helpful to form a product discovery team that consists of: Development team members: user experience (UX) designer, developer, tester; Key stakeholders , for example, people from marketing, sales, and support; A ScrumMaster or agile coach. Bring the Right People Together.

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The Importance of Market Segmentation

The Product Bistro

One of the core responsibilities of Marketing in an organization is to effectively define and track the marketing segments. Often the temptation to be everything to everyone is great within the organization, yet, the wise marketer and product manager knows that targeting key segments makes for a much greater chance of success. Understanding the strengths of your offering, and how it relates to the segments of your market allows you to better guide your investment strategy.

The Secret to Great Product Management

280 Group

Product Management Best Practices Customer Needs Market Research Research YouTube Video

4 Unusual Promotional Gifts for Product Marketing Managers

Spice Catalyst

Product Marketing (Success) Managers sometimes get involved with marketing communications and need some chatkas to help with branding at say a trade show. Product Success Managers need to offer an incentive to get people to answer their surveys when they are doing market research.

Product/Market Fit is Failing Because of Your Company Structure

Mind the Product

Product experts have tried to tackle this issue but they gloss over the impact a company’s structure and leadership team have on product/market fit. For many consumer packaged goods (CPG) companies, product teams report to marketing, sales, finance, or strategy leads. Who owns Product/Market fit – Marketing, Sales, or Business? When product/market fit is owned by business leaders, products are judged by how quickly they can turn a profit.

“Customer At The Center” Special Webinar by David Fradin

Spice Catalyst

BIGP Book Building Insanely Great Products Business Acceleration Featured Market Research Marketing Product Marketing Customer customer Satisfaction Product Product Management webinar

Are idea portals a bad idea?

Obo

Market Research StrategyIdea portals aren’t a bad idea -- but they aren’t necessarily a good idea. In theory, idea portals are great. Your customers (and others) can enter and vote on ideas for your products, and voilà -- you’re customer-centric! What could possibly go wrong?

Why Your Organization Cannot Innovate?

Spice Catalyst

Business Acceleration Business Development Innovation Innovation and Value Proposition Market Research Product Launch innovate market organization success successful business

Product validation to put our best product forward

Obo

Market Research Collaboration Obo StrategyThe beta data is in!

Innovating in Mature Markets – 6 Product Lessons from Padman

Mind the Product

Understand Your Competitors Through Market Research. In Arunachalam’s case, as he was entering at the late majority stage of the sanitary pad market, he spent a lot of time understanding the strengths and weaknesses of his competitors before deriving his unique selling point – cost effectiveness. So, a product manager should clearly identify their position in the product lifecycle and map out their market research strategies accordingly.

How Sonos is Leveraging User Research to Enhance Their Beta Program

Centercode

While some companies only think of it as a last-ditch effort to tie up loose ends before launch, others are tapping user research to play a more fundamental role in the product development process. Amy : I am the team’s user research lead.

In Search of Product/Market fit: How Setapp Found its Customers

Mind the Product

In marketing speak, from the very beginning of the project we wanted customers from both the “early majority” and “late majority” groups, skipping the “innovators” and “early adopters”. Product/market fit questions: Remember a time you were trying to solve this problem with this product.

Productize Conference, Lisbon Oct 19,20,21

Spice Catalyst

Building Insanely Great Products Business Acceleration Business Development Courses Market Research Marketing Newsletter Dave Product Management Product Marketing Product Planning

10 Tips for Creating Successful Product Marketing Content

Pragmatic Marketing

By its nature, content marketing focuses on customer relationships, branding and thought leadership. Product marketing is a bit different. Know the Difference Between Product and Content Marketing. Both product and content marketing have a place in your overall strategy. Much of content marketing focuses on brand building and relationships. Product marketing isn’t as subversive. The goal of product marketing tends to be short term and specific.

Product Management Mishap: Not so fast, Netflix!

Obo

In fact, the market response was legendary. Netflix’s market cap dropped from $18B to $5B.” Very few people are savants who can guess correctly what the market wants. Most of us need to back up our guesses with market research.

Through Google Glass, darkly

Obo

Absent from this list: market testing. From what little we know about Google’s market testing, they do some, but they focus on their existing customers. That leaves much of the market unaccounted for and limits the potential for successful huge-scale innovation.

What Happens When you do User Discovery After Market Traction

Mind the Product

Major elements of our sales and marketing plan, designed with companies like this one in mind, needed to be revisited at the least. We’d responded to market traction without properly understanding our users. That’s because when Merck decided to market the exact same drug’s baldness-prevention properties too, they created a new campaign and brand. The user researchers use our platform for pretty much the same reason product managers do.

Product validation to our best product forward

Obo

As Adrian Rami, Director of Product, put it, “ We are expanding our use of Obo to employ market-driven approaches to our entire product roadmap; it has a variety of valuable features for a company like C3, which is AI-based and data-driven.” The beta data is in!

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When good companies make bad products.

Obo

( This is the first in a four-part series of posts on epic product fails and how better market validation might have prevented them.) They also all clearly have the resources to conduct sufficient market research to validate their product strategies and plans. Perhaps they were so enamored of the possibilities if their product ideas were successful that they didn’t consider what the market really wanted and/or needed. See the Obo Field Guide to Market Signals.

Apple’s Product Portfolio Management

Spice Catalyst

Business Acceleration Business Development Innovation Market Research Marketing Product Launch Product Life Cycle Framework Product Management Product Marketing Product Planning The Product Management Role apple Product Portfolio ManagementGood product portfolio management means a company has products at each stage of the product lifecycle:Risk, Revenue Maximization, Revenue Smoothing and Competition Blocking.

Foundations

Spice Catalyst

Entrepreneur Innovation Job Market Research Marketing Messaging Product Launch Product Life Cycle Framework Product Management Product Marketing Product PlanningFoundations in the Successful Management of Products seeks to define the secret of what makes customer-oriented products, enabling its practitioners to significantly increase its chances of success.

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Bob Moesta on unpacking customer motivations with Jobs-to-be-Done

Inside Intercom

In short, JTBD is a research process that helps uncover a customer’s motivation for buying your product – the “job” your product is“hired” to complete. The way you package and market your product will change over time, but the jobs your product is hired to do should be timeless. Well, you have a backlog with customer support, but also our marketing products are more popular on a Monday because people are checking reports to fill in their spreadsheets.

Why “Marketing” Sounds Like a SCAM

I Wonder The Value

What is marketing? According to Wikipedia , “The American Marketing Association has defined marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.

How 3 product marketing managers execute product releases

Roadmunk

While product managers puppeteer a product journey end-to-end, product marketing managers tend to be the masterminds behind releasing said product to market. Each product marketing leader walks us through a typical product launch. Title: Principal Product Marketing Manager.

7 KEYS TO MARKET DRIVEN ORGANIZATION & HOW TO KNOW IF YOURS IS ONE

Pragmatic Marketing

Typically, this is the plight of a team that isn't dialed into its market. Your organization may not be market driven. Pragmatic Training can help your team become market driven. Review these seven key steps to see if you may need to re-evaluate your market driven approach: 1.

7 KEYS TO MARKET DRIVEN ORGANIZATION & HOW TO KNOW IF YOURS IS ONE

Pragmatic Marketing

Typically, this is the plight of a team that isn't dialed into its market. Your organization may not be market driven. Pragmatic Training can help your team become market driven. Review these seven key steps to see if you may need to re-evaluate your market driven approach: 1.

Taking Event Support from Sales Tactic to Product Strategy

Product Beautiful

But the truth is that events aren’t just a sales and marketing tactic. They can and should be a strategic part of your market research—a way to glean feedback from your market as much as they are a place to push your message. If your market research is on point, they’ll probably say, “Yes it is. I’m doing some follow-up research, and you came to mind. This can be vital to your research because you’re gaining information from potential customers.