Welcome back, you marvelous miracles of market research! Market Research 101 is back in session, and, having already talked about customer intercepts and panel surveys, it's time to move into focus groups. People often confuse focus groups and panel surveys--we are here to sort out the difference.
Yeah, we know it’s summer, but at TrendSource, school is about to start up again. That’s because we are starting a new blog project, Market Research 101. Each week, we will break down a particular market research methodology, explaining what is is, how it’s used, and everything else you need to know. First up, Panel Surveys!
Ok, let’s talk about toys. Your humble blogger just spent a week-long family reunion marveling as his slew of nieces passed the hours watching other people open toys on YouTube. Subsequent investigation led me the following set of understandings: 1) LOL Surprise dolls are the hottest toy on the planet, 2) Children are as happy watching people open them on YouTube as they are playing with them themselves, and, 3) They are a manufacturing market research marvel.
Celebrity increasingly drives digital purchases—as we described last week, this is already happening in fashion where Rihanna and Kylie Jenner are as hot as hot can be. But does celebrity drive restaurant traffic?
There’re new options at checkout these days, which is great news for retailers as well as consumers who really, really want that KitchenAid, but don’t have the cash on hand and don’t want to add to their credit card debt.