Customer

Customer Needs

Buyers

 

Market Research

in the new era of rapid change and shortening product life cycles

Vadim Kotelnikov

Vadim Kotelnikov, founder of 1000ventures - personal logo Vadim Kotelnikov

   

   

 

Let me start with quotes of highly successful businessmen.

 

Henry Ford advice

If I had asked the public what they wanted, they would have said a faster horse.

Henry Ford

Ford Moror

Akio Morita advice quotes Sony

Carefully watch how people live, get an intuitive sense as to what they might want and then go with it. Donít do market research.

Akio Morita

Sony

Steve Jobs advice quotes

You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.

Steve Jobs

Apple

 

 

Face the Reality

"Nearly 100% of innovation Ė from business to politics Ė is inspired not by "market analysis" but by people who are supremely pissed off by the way things are." ~ Tom Peters

There's nothing bad about market research as long as you remember that marketing is the game of the future. "Most marketing surveys are reports on the past. Research tells us what customers already did and not necessarily what they're about to do. They don't know what they're going to do and we shouldn't embarrass them with questions," write Al Ries, Jack Trout and Paul Temporal in their book The 22 Immutable Laws of Marketing.

 

 

 

Trend Watching vs. Traditional Market Research

While you cannot predict the future, you can get a handle on trends, which is a way to take advantage of change and convert risks into opportunities. Spotting and tracking trends can be a very useful tool in dealing with unpredictable future... More

 

 

 

Empathize with Your Customers

If you really want to understand your customers, free yourself from you ego and become them. LOVE YOUR CUSTOMERS. Look at the world through their eyes, empathize with their feelings, dreams and thoughts. Walk a mile in their shoes to understand what motivates them, what they truly need and desire... More

 

IDEO Tom Kelley creativity innovation quotes

Empathy means challenging your preconceived ideas and setting aside your sense of what you think is true in order to learn what actually is true that people arenít conscious of.  >>>

Tom Kelley

IDEO

 

 

 

7 Characteristics of Successful Entrepreneurial Firms

Principals make business decisions based on a clear understanding of the market and the competition, rather than their own enchantment with their product... More

 

Venture Planning Checklist: Customer Assessment

Is your venture based on a true marketplace need, not an idea from your family and friends? Do people really want this or do you think they need it? Want wins over need... More

 

Define Market Segment & Customer Profile

Demographic (education, occupation, income level, age, gender, etc.)

Geographic location

Business markets (type, size, location, turnover, etc.)

Consumer behavior characteristics

 

 

 

 

 

 

 

Why New Products Fail?

  • Inadequate understanding of customers needs and wants; market size and customer buying patterns are not adequately researched.. More

New Product Development (NPD)

Shift To New Approaches: 7 Reasons

  • Designers, not marketers, identify new product opportunities. Traditional marketing tools are good for analyzing existing market ideas. Intuitive thinking, qualitative approach used by designers is very good for imagining new possibilities. Designers identify new product opportunities, create design briefs, conduct market research, develop a platform for further innovations and even brief advertising companies on how to promote the new product... More

Market Leadership Strategies

The market leader is dominant in its industry and has substantial market share. If you want to lead the market, you must be the industry leader in developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated... More

 Best Practices  Google

Google is the Internetís number one search engine today. What is the reason for their remarkable success? Itís beta testing and market learning. They launched a less than perfect service into the market place to get market feedback. Feedback is the key to dominating a market. It also makes great business sense. Google's competitors were trying to perfect a product by themselves separate from their target market as Google was continuously and rapidly upgrading their original beta version by listening to the customer. They strived to achieve harmony with the reality... More

  New Product Development: Keys To Successful Market Learning...

Marketing & Selling Strategy at Different Company Growth Stages...

Understanding What Motivates People...

Five Popular Innovation Myths...

Observing People...

Learning About the Markets for New-to-the-World Products...