What is market research?

By November 25, 2012 3 Comments

In advertising, market research is the first step to creating great advertising. The goal of market research is to find a target audience that will be most receptive to your product, judge the size of the audience, and determine what the best way to reach the audience is. It provides a holistic understanding of your brand and customers within the competitive landscape.

Market Research Identifies the Target Audience

Using proprietary market research databases, including Simmons, MRI+, comScore, and Nielson, we can segment the United States population by demographics, psychographics, behavioristics, geographics, or product usage.

By identifying the segment of the population who is most likely to be receptive to your product or service, we can utilize analytic databases to learn more about your audience. For example, if we identify a psychographic segment of the population (for instance, high-confidence individuals) that would benefit from your product, we can develop a deep understanding of the behaviors, demographics, and locations of high-confidence individuals.

Market Research Helps Judge the Size and Location of the Audience

Utilizing proprietary market research databases, we can determine how large your target market is in each of the different regions of the United States. Part of the media planning process is identifying the media mix that we need to use to reach the members of the target market.

Our goal here is to determine which regions are more dense in terms of your target audience. In regions with a high concentration of members of your target audience, we can recommend very efficient decisions. On the other hand, some regions will simply have too few members of your target audience to consider.

Market Research Determines How to Reach Your Audience

Market research helps us identify the patterns of your target audience. We can determine everything from how they spend their day to which websites they tend to visit or what their favorite television shows are. We can learn what issues they are involved with, their habits, where they shop, what they buy, and how much they tend to spend.