Marketing Research Library

Sizing the potential market for new products or services, or new consumer segments, may require more than one survey, or more than one type of survey, and measurement across different audiences. There is also the consideration of how “new” a product is. Measuring market size and potential relies on more than just size; it also relies on consumer preferences. Prices depend on methodology, mode, and market. All of our research is crafted into a digestible report that offers actionable, data-led insights. For a more detailed answer, please see our white paper on sizing potential markets.

Timing varies depending on the size of the market, how many markets require measurement, the survey methodology and mode used, and the availability of the respondents. Another consideration is the newness of the product; demand estimation for new products is more difficult because there is no history to rely upon. See our white paper on sizing potential of markets.

Tracking studies should measure whether customers are more or less likely to buy, and identify strategies that are likely to move that measurement. We use a customer decision funnel, comprised of measures for brand awareness, consideration, purchasing, and repurchasing, to evaluate levels of marketing spending relative to conversions. If you are a marketer looking to expand your conversions through more effective messaging to audiences in certain stages of the decision funnel, a tracking study could be one way to gain insights needed to drive messaging home to move the measurement. If you would like to learn more about tracking studies and their usage, download our white paper here.

We believe that testing of products and concepts, when done properly, improves the odds of a successful launch for a new product or service. It improves these odds by providing a measure and diagnostic to focus developmental resources on, offering greatest potential for growth. MMR Strategy Group uses widely accredited methodologies for measuring consumer preferences and estimated demand using various surveys. By funneling our testing from concept to product to market, we are able to advise on more than just product viability. We are able to give your marketing team insights that apply to messaging, packaging, and positioning. If you would like to learn more about what we offer, please see our white paper here, or contact us directly.

In order to improve the customer experience, you must improve the steps of customer involvement that most need improvement. Customer journey maps (CJMs) are a tool to help companies visualize and evaluate the customer, and experience their products or services from the customer’s point of view. They can identify spots where a brand has difficulty satisfying a customer, and which points are more and less important to the purchase decision. Customer journey maps depict and describe the customer experience in clear, concise, and simple terms. If you would like more information on MMR Strategy Group customer journey maps and best practices for studying the customer journey, please see our white paper here.

MMR survey experts use market research methods that adhere to rigorous scientific principles and adhere to the high-quality standards in the marketing research industry, so you can rely on our strategies for measuring consumer preferences. Our reports include the reporting on the long-term implications of research findings. We measure consumer preferences using advanced statistical research methods such as MaxDiff analysis, conjoint studies, and other surveys that deliver insights about consumer preferences.

MaxDiff is short for maximum difference scaling, and it provides a way to accurately measure features against one another. If you are creating an advertising campaign and looking to communicate your product or service’s benefits, but are unsure which is the most compelling to lead with, this is a great tool. Respondents see multiple screens and random features and evaluate a number of combinations of features. The outcome is an evaluation of consumer preferences for features of your product or service, permitting you to lead with your greatest strengths in your advertisements. To learn more about MaxDiff studies or how they may benefit your business, you can download our free white paper.