Most marketers agree that market research and customer insights are very important to brand management and marketing strategy. This begs the question, "What are the most important things a marketer needs to know about his or her brand's customers?"
Here is my list of the ten most important questions a marketer needs to answer about his or her customers through research:
- What needs (functional, emotional, experiential and self-expressive) are fulfilled by products or services in your brand's product or service category?
- Which of those needs are met by all brands and which are met by only a few or no brands?
- Which product/service functions or features are critical and which are optional?
- Who shops the category?
- How can the category's customers be segmented? Which segments promise the greatest potential for your brand?
- What are the customer's unmet needs within your brand's product or service category?
- What are his or her frustrations within the category?
- Who or what does your customer listen to (website, expert, friend, periodical, trade show, etc.) to make decisions in your brand's product or service category?
- Where is he or she most likely to go (distribution channels and specific stores) to find products or services like yours?
- How sensitive is he or she to prices within the category? What are his or her expected prices and what are the maximum prices he or she would be willing to pay?