Lean Market Research Methology

Market Research plays the role of a flashlight in a dark forest for businesses and corporations. On the other hand, the classic way of conducting Market Research is costly, cumbersome and outdated. This fact is especially true for digital businesses as well as small and medium businesses of all types. Indeed, Classic Market Research is very expensive for these kinds of structures. More importantly, Classic Market Research is rigid and lacks reactivity and flexibility to face today’s business pace. This is where Lean Market Research comes into play. Lean Market Research inherits the main strengths of Classic Market Research and adds flexibility and agility to it. Lean Market Research reduces the costs of Classic Market Research by 10 at least. This cost reduction is achieved from both financial and timing perspectives. This is made possible thanks to a massive and wise usage of new technologies, online tools and almost infinite high quality data of the Web.

Online Focus Groups are an Online Market Research tool that provides deep qualitative data through the animation of online discussions between 5 to 50 respondents, typically 10 respondents. Online Focus Groups can bring to your business direct, honest and rich feedback from a preselected audience. You can use this invaluable data for fine tuning your business and marketing strategies. You can use it as well for better understanding your customers and competitors. This allows you to establish a direct connection with your market. All this fastly and at limited costs thanks to the usage of online technologies. On the other hand, numerous pitfalls should be avoided when using Online Focus Groups like the lack of dynamics and spontaneity when compared to Classic Focus Groups. This is in addition to the classic limitations of any digital solution like the IT issues and the data privacy and security challenges.

simlar to odyssee service
databricks and tomorrow data

Online Focus Groups can be a mine of golden data for your business. It can also be intimidating to conduct, especially the first times. Indeed, Online Focus Groups involve multidisciplinary fields like planning, communication, managing a crew, collecting and storing the data, analyzing and delivering the final analysis etc..

On the other hand, when tackled the wrong way, it can be a big source of frustration and waste of  time and budget.

This is why it’s very important to have a step by step guide that avoids the unwanted headache.

When it comes to lean market research competitive analysis is one of the most requested types of research. Indeed, competitive analysis allows its user to identify his surrounding environment. Consequently, this type of research makes the strategic vision way clearer. This post is about The Ultimate Guide to Competition & Company Data for Lean Market Research.
Indeed, in order to be able to perform an insightful and actionable competitive analysis, the researcher needs to have access to efficient and lean resources to do so. This is particularly true in the framework of lean market research.
Hence, let’s list and take a look at the major resources for competitive analysis.

Lean market research can have different purposes. In this post, we will be going through the major the 12 Most Powerful Market Research Types that are: Market size, Market segmentation, Competitive landscape, Opportunities, Social trends, Use of and attitudes to products, Improve customer satisfaction and loyalty, Achieve promotion effectiveness, Improve brand position, Achieve pricing effectiveness, Test new products, Enter new markets

Lean Market Research allows you to cut the costs of classic Market Research by orders of magnitude. This is true from both the perspectives of monetary and time costs. In this post, the process and timeline of lean market research are compared to the ones of classic market research.

Desk Research is an ultimate tool among the Lean Market Research Toolbox. It simply stands for conducting research using the most available resources like the internet, books and magazines. Hence, its name is very self explanatory in this framework. This post is about The Ultimate Guide to Lean Desk Research. This explains the Why and How about how to make it.

When it comes to Market Research, a very common question that arises is what are qualitative and quantitative market research. This post aims at clarifying practically what those two key components stand for. This first part of the post focuses on Qualitative Research. Furthermore, this post goes even further by providing an actionable guide about how to use Qualitative Research in order to conduct insightful and professional market research.

When it comes to Market Research, a very common question that arises is what are qualitative and quantitative market research. This post aims at clarifying practically what those two key components stand for. This second part of the post focuses on Quantitative Research.Furthermore, this post goes even further by providing an actionable guide about how to use Quantitative Research in order to conduct insightful and professional lean market research.

When it comes to lean market research, gathering data and information is key for preparing an actionable and insightful strategic study. In this framework, forms and questionnaires are a key asset.

This post focuses on the practical side of preparing a questionnaire. It embeds a hands-on video about how to concretely make this preparation.