Neuroscientists, designers and authors all seem agreed on one thing: market research is pretty much useless. They all agree that new insights are required but, unfortunately for their credibility, they all offer a different means to that end. But why has market research become such a popular whipping boy?
There is a view in brand marketing research these days that random sampling is on its last legs. With tons of data in hand and real-time testing on the rise, many claim there is no need for random sampling anymore.
Segmentation is making headlines. The journalistic reprise of some inelegant remarks by Abercrombie & Fitch’s CEO and the eruption of a scandal involving IRS scrutiny of conservative non-profit groups have come together at the same moment to put the spotlight on targeting, which, of course, is what segmentation is all about.
What a brand really represents is what consumers think it represents. Well-intentioned brand managers can take actions they think are strategically appropriate, but if these messages are not believed or accepted by the consumers, they can severely maim the brand. Netflix learned this the hard way.
The worst data miscalculation in brand marketing is also the easiest to fix, even though it requires a new way of looking at market opportunities for brands.
