Social media and market research are natural dance partners. Just imagine how much data you've compiled on people's favorite relationship tip of the day or random nugget of baseless knowledge over time.  After all, social media provides advanced capabilities for segmentation. Once you eliminate the white noise, there is very rich data on consumer opinion and brand equity to extract and analyze.  

There's a common perception that Latino Americans are the next generation of great U.S. consumers. That notion, however, isn't entirely true and marketers who cling to this "consumers of tomorrow" mindset will surely miss out on developing important connections within the influential Latino market today. Though marketing to Latinos is a minefield of complexities--including sensitivities surrounding the use of labels such as Hispanic etc., it's clear that one of the most effective ways to reach Latino consumers is through social media. 

You made the determination that a demand exists for your new product idea.  The financing to get your business off the ground is in the bag; and you are certain that you have a great product to take to the market. However, here's a question that you must ask yourself. Does the consumer know how great your product is?

After you have determined whether your new product idea or service is viable for starting a new business, the next step is to figure out what consumer segment is most suitable for taking a product to market.  Your market research process is a major contributor to starting a new business.

In the instance of our case study product, the Dynamic Ingredients Dispenser (DID), we already have a clear sales strategy: the home consumer market. As a result, the next step is to get more granular and figure out whom the real target in the market is.

When it comes to selling fast moving consumer goods like fragrances how can a company use youth marketing research to sell its products? It’s an interesting question because it illustrates how important market research is whether you are selling pharmaceuticals, financial services or lust.

Axe makes body sprays for young men.

Market research can be used in identifying customer needs, as well as who they are. You have to ask the right questions though. If you don’t really know your customers you will not retain them leaving you constantly chasing after new ones. Don’t just follow your instincts as many companies do. Use market research reports, focus groups and market surveys. Take the time too really get to know them. Ask the right questions; get the facts; and discover how to motivate your customers.

When Procter and Gamble's Charmin Toilet Paper brand made the business decision to break into an already saturated German market it relied heavily on market research to ensure that its Charmin brand would succeed.

Charmin toilet paper has been around for 70 years, so clearly it has wiped the cheeks of everyone from Harry S. Truman to Lady Gaga. They probably know everything there is to know about butts! Maybe there’s piped music blaring through their offices by Sir Mix-a-lot. "I like big butts, and I cannot lie!" Alright, maybe not, but how great would that be!

If it seems that marketing in the education industry is a relatively new phenomenon, look closely at the wall of this 1910 restoration of Rosehill Schoolhouse at the Cherokee Strip Museum in Oklahoma. Along with the wood burning stove, well worn desks and dusty chalk boards you will notice a handful of advertisements for local businesses. Direct marketing solutions in schools have been around for at least the last century; it is an interesting exercise to see how some of the marketing efforts have changed.