Market Validation
Consumer Research
Consumer research provides valuable insights not only to understand existing customers but it’s also used as a tool to help companies develop and refine products that suit their customer’s needs. Additionally, it uncovers opportunities for businesses to grow.
Failing to understand what the market wants can set you up for failure by trying to target the wrong objectives. Consumers are the most important resource of a company so it’s critical to make sure that you, as a business, do what you can to satisfy them.
Ethnography
Ethnography is a type of research that primarily focuses on the study of a group of people and their behaviors. Businesses use this to learn more about their customers and use that information to enhance their products and services.
Through the use of interviews and surveys, ethnography provides a business with valuable insights into the mind of their target audience. It’s all about immersion and observation, it relies heavily on these two factors to track the real behavior of customers in various settings. The data that comes out from ethnography research will help the market validation process of a business.
