How Brands Use Market Research [Infographic]

Stacy Jones | June 22, 2022 at 8:30 AM

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A Little Insight Means A Lotta Money

Building marketing and advertising campaigns can sometimes feel like you have an Uzi and are shooting widely in a scatter mode, hoping to accidentally hit the bullseye. In blockbuster action movies, the one holding the gun seems to always - even accidentally - manage to hit that moving target. Not so easy though for a marketer.

Knowing your target audience's preferences can mean the difference between building a marketing campaign that creates massive sales, or leaving an office listening to the sound of chirping crickets. In this blog, Hollywood Branded shares the infographic that Surveygoo, an online survey service in the U.K., created on why market research is important for brands.

how brands use market research (infographic)

Aiming For The Bullseye

In today's marketplace of so many messages and distractions, it is important to hone in on your specific consumer's likes, dislikes, and how they perceive your brand, in order to build a marketing campaign that actually impacts.

So why would a brand want to use market research?

To reduce business risk – you might as well find out if there is a market for your brand before launch! Or if consumers like the way you have positioned the product. We’ve seen so many brand owners THINK that their product is great for XYZ and then seen our own team raise eyebrows and question its positioning – because the brand owner and team are just too invested and can’t see the forest through the trees.
Launch new services and products that haven’t been tested yet.
Spot current and upcoming problems in your industry. You might think all is a-ok, but the truth could be that there is competition out there that you never even considered to be competition – and market research groups can help point that out based on their own experiences and views.
Test customers’ responses to new ideas as well as how those new ideas are being pushed out. A single word choice can make a major difference in a campaign, and it may take bouncing that campaign off of a dozen or more people before realizing what the deal maker or breaker could be.
Identify sales opportunities that you never even thought of. This allows you to check-in to see what customers might actually need, or think they need.
Get your customers involved in new developments of products and find out what they actually really want!
Eliminate guesswork when creating a new marketing initiative – and this can even apply to market researching out which celebrities resound best with your brand!
Improve customer service levels by finding out how to actually respond to inquiries – by knowing what those inquiries will be.
Find ways to beat the competition by being just a little bit better. You have to be able to measure in order to see improvements – and market research will help provide that measurement guide.
Test advertising campaigns, even product placement, and celebrity partnership ideas!

The Infographic

Ready To Start Using What You Have Learned Through Market Research?

Before you spend another dollar on traditional advertising, consider the use of product placement/brand integration in your entertainment marketing strategy. Watch our video to learn techniques to conquer common advertising challenges!

While you're here, don't forget to check out some of our blogs about market research and the best marketing practices for your brand. With our help, you can become an expert in marketing in no time flat!