Market Research Today - fast, lean, flexible

2016 Dr. Ute Hillmer www.better-reality.com1 von 133

Market Research (MR)Day 2: Market Research: Customer Discovery 21.1.2016

SIBE-Management-MasterDr. Ute Hillmer

© 2015 School of International Business and Entrepreneurship (SIBE) der Steinbeis-Hochschule Berlin I www.steinbeis-sibe.de I Dr. Ute Hillmer

New Ways of gaining Market Insight:

Lean, fast, agile!

2016 Dr. Ute Hillmer www.better-reality.com

Market ResearchLecture

SIBE 21.01.2016Dr. Ute Hillmer


What’s Ute’s STORY?

I am in business to change the lives of my technology

clients by finding them hungry customers that get

them into sustainable growth!


and turn their customers into raving fans!


WHO is Dr. Ute Hillmer? an expert in positioning and promoting technology

products, with a carving for innovative products that are not self-explaining.

With such products, human behavior is often outside the boundaries of rationality - despite its economic context.

Buying behavior is here typically a result of social, cognitive and emotional factors, along with the economic ones.

2016 Dr. Ute Hillmer www.better-reality.comWhat did Ute do?

• 27 years of international marketing (HP, CoCreate, MFG Innovation Agency State of BW, Better Reality Marketing)• Dissertation in business administration, behavioral economics in

technology marketing: Technology Acceptance in Mechatronics•Worldwide company and product communication;

mainly 3 continents (America, Europe, Asia)• Product-, program-, channel-, partner marketing, marketing

communication, branding, positioning• Responsible for operative, strategic + corporate marketing, branding,

sales training• Experienced in large corporations, SMEs and freelance work as well as

political institutions.• Responsible for the first international website of Hewlett Packard in 1993


To take the most out of this lecture

… be in

STATE!


Agenda 1. Changes in Market Research

2. What is Market Research good for?

3. What should you Research?

4. Market Segmentation and Target Markets

5. Find your most important Questions

6. Where to get Answers

5. How to get your Most Important Answers

• Qualitative Research TodayGoogle + Amazon AnalysisThe Problem with Traditional Quantitative Research

• Quantitative Research Today

• Interviewing People


This lecture is about…

• Understanding why market research is changing• Understanding customer discovery• The 5 big Q‘s of market research

• What do you want to learn?

• Who do you want to learn from?

• How will you get to them?

• How can you ensure to be effective?

• How do you make sense of what you learn?


The New Market Research Manifesto1. New media allows for new methods in market research2. New management methods require new methods in market

research. 3. Learning first hand about the customer, the value he is willing

to pay for and to develop a product or service that delivers this value is called CUSTOMER DISCOVERY.

4. Customer Discovery is NOT ABOUT statistically relevant answers. It is about the questions: Where do we find hints and patterns what our customers want and what they are willing to pay for

5. Customer Discovery is all about fast, agile and lean.6. Customer Discovery is a way to built market focused

innovations, that don‘t take forever and that don‘t eat an endless research budget.


What is Market Research good

for?


The Problem and the Opportunity in Marketing

Enhancing a Product: „Customer needs and motives for buying are difficult to determine“ Kottler+Armstrong 2015

the understanding is required by companies to obtain customer and market insight

Developing a new Product: “Fresh understanding of customers and the market derived from marketing information” Kottler+Armstrong 2015

Becomes the basis for creating customer value and relationships


Elements in a Customer Driven Marketing Strategy

Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong 2014


PSA2: Goal Definition + Communication Planning


What should you Research?What are the Questions, you need answered?


Weaknesses Remove (internal) WEAKNESSES to use opportunities

Strengths Use Chances with own (internal) STRENTH

Opportunities OPPORTUNITIES that can be taken

Threads THREADS that must be overcome

Internal /today

External / tomorrow

A SWOT of your Product or Project


To get the SWOT right, you need to Research the Marketing Environment

CompanySuppliers Customers

DistributersCompetitors

Micro-‐Environment

EconomicPolitical/ Legal

Social/Cultural

Technology

Macro-‐Environment

Ecological/Physical






Internal /today

External / tomorrow

Market Research


Gain Customer Insight





Social/Cultural

Technology


Ecological/Physical



StrengthsUse Chances with own (internal) STRENTH



Internal /today

External / tomorrow

Competitive Intelligence


Understand the Dynamics in the Marketplace





Social/Cultural

Technology


Ecological/Physical


What are your most important and most risky assumptions you are making?• How you reach your customers

Quelle: businessmodelgeneration.com

• What do customers really want? … need?

• How you make money (generate usage)


Internal /today

External / tomorrow

The Macro-EnvironmentWeaknesses Remove (internal) WEAKNESSES to use opportunities

StrengthsUse Chances with own (internal) STRENTH



What Forces must be looked at?


Analyzing Major Forces in the Projects Macro-Environment

3-28

Kotler / Armstrong 2016

D. Jobber 2010


You are a Cinema Owner: How is the Macro Environment Changing?

3-29


D. Jobber 2010


Task: Part-Time MBA How is the Macro Environment Changing?

3-30


D. Jobber 2010

Teams of 4, 20 Minutes,draw a poster of the changes,

present


Task: Your Study Project (PSA2): How is the Macro Environment Changing?

3-31


D. Jobber 2010

By yourself, 5 Min,

write down the key forces in your project, explain to your

neighbor (2 Min each),

get feedback (1 Min)


Political and Legal Forces

• EU + national laws• Codes of practice


Economic

• Economic growth• Unemployment• interest and exchange rates• global economic trends (growth of some countries)


Ecological / Physical Environmental

• Global warming• pollution, energy and other scarce resources; environmentally

friendly ingredients + components• recycling and non-wasteful packaging


Social / Cultural

• Changes in world population, age distribution + household structure

• attitude and lifestyle changes• subcultures within and across national boundaries• consumerism

• + Graphic: Management-stiles US+Europe (Jobber 2010)


Technological

• New product technologies• New process technologies• New materials




Internal /today

External / tomorrow

The Micro-Environment




Analyzing Major Forces in the Micro-Environment

3-38


Porters 5 ForcesMarket AnalysisCustomer Analysis

Competitor Analysis

Supplier AnalysisDistribution Analysis


You are a Cinema Owner: How is the Micro Environment Changing?

3-39



Competitor Analysis



Task: Part-Time MBA ProviderHow is the Micro Environment Changing?

3-40



Competitor Analysis


Teams of 4, 20 Minutes,draw a poster of the changes,

present


Task: Your Study Project (PSA2): How is the Macro Environment Changing?

3-41



Competitor Analysis


By yourself, 5 Min, write down the key forces in your project, explain to your neighbor (2 Min each), get feedback (1 Min)


Market

• Size• growth rate• trends


Customers

• Who they are• their choice criteria• how, when and where they buy• how they rate us vs. the competition on product, promotion,

price, distribution, service, whole product• how customers group (market segments) and what benefit each

group seeks• trends


Distributors

• Channel attractiveness• distributor decision-making unit• decision-making process + choice criteria• strength and weaknesses• power changes• physical distribution methods• trends


Competitors

• Who are the major competitors (actual and potential)• their objectives + strategies• strength + weaknesses• size, market share and profitability• entry barriers to new competitors• trends


Suppliers

• Who they are and location• strength and weakness• power changes• trends


Find your most important Questions


Finding the Most Critical Questions

• Size of the market• Market trends• Customer Needs• Evaluation of

Strategies/promotions• Assessing marketing mix• Forecasting• Planning

• Identifying market segments• Identifying consumer needs• Identifying competition• Identifying opportunities/gaps

in the market• Reduce risk

Cartoon copyright of Giff Constable, „Talking to Humans“


What are the Critical Assumptions in your Business Model?

source: businessmodelgeneration.com

How you reach your customers?

How you make money? (generate usage)

What do customers want? What do customers need?

https://youtu.be/QoAOzMTLP5s


A Brief Introduction to the Business Model Canvas

https://cdnsecakmi.kaltura.com/p/506471/sp/50647100/playManifest/entryId/0_7lgk4yf5/format/url/protocol/https/flavorParamId/457711/video.mp4?ts=1446678185


What are your Most Critical Assumptions about your Customer?

Pains describe bad outcomes, risks, and obstacles related to customer jobs.

Gains describe the outcomes customers want to achieve or the concrete benefits they are seeking.

Customer Jobs describe what customers are trying to get done in their work and in their lives, as expressed in their own words.What urgent needs do they have?

What are their compelling desires?


What Job is the Moviegoer trying to get done?describe the things your customers are trying to get done in their work or in their life. Look at the world though their eyes!

- the task they try to perform or complete- the problems they are trying to solve- the needs they are trying to satisfy

Functional Jobs: perform or complete a specific task or solve a specific problem. (mow the lawn, eat healthy, write a report, help clients as a pro)

Social Jobs:How to be perceived by others; Try to look good, gain power or status.

Emotional Jobs:Seek a specific emotional state, such as feeling good or secure

List the jobs, make them specific, then rank them by importance!


What drives a Moviegoer?• What value is a moviegoer looking for? • What’s supporting it?• What can be in the way?


Your Cinema Customer as a Theater Chain OwnerLooking at it the old fashioned way:

Movie Behavior:• Prefers action movies• Likes popcorn and coke• Does not like waiting in line• Buys tickets online• Goes once every 2 month

Psychographic Profile:Jane Moviegoer20-30 years oldupper middle class, earns 80K/yearmarried2 kids


Your Cinema Customer Market Today is Segmented!Is strongly influenced by the context he/she finds herself in. Which current job matters more or less?

…


What drives each Moviegoer Segment?• What value is this moviegoer segment looking for? • What’s supporting it?• What can be in the way?


Segmenting a Market


What is Market Segmentation?

Market segmentation requires dividing a market into smaller segments with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. Kottler, Armstrong 2014

Segmentation is used to identify and further define your ideal customer


• Segmenting consumer markets?• Segmenting business markets?• Segmenting international markets?• Effective segmentation?

Criteria for


Segmenting Consumer Markets

• The big 4

Geographic segmentation

Demographic segmentation

Psychographic segmentation

Behavioral segmentation

Copyright © 2016 Pearson Education, Inc.


Geographic SegmentationRegions following ACNielsen

Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, cities, or even neighborhoods.


Demographin SegmentationAge and Gender

Demographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.


Demographin SegmentationAge, Gender, Income, …Age and life-cycle stage segmentation divides a market into different age and life-cycle groups.

Gender segmentation divides a market into different segments based on gender.

Income segmentation divides a market into different income segments.


Psychographic SegmentationSinusmilieu

Psychographic segmentation divides a market into different segments based on social class, lifestyle, or personality characteristics.


Behavioral Segmentation

Behavioral segmentation divides a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product.

• Occasions• Benefits sought• User status

• Usage rate• Loyalty status

Copyright © 2016 Pearson Education, Inc.. Kotler, Armstrong


Discussion on Segmenting Consumer vs. Business Markets


Segmenting Business Markets

• Consumer and Business have many of the same segmenting variables. Additional variables include:

Customer Operating

Characteristics

Situational Factors

Purchasing Approaches

Personal Characteristics


Geographic segmentation

Demographic segmentation

Psychographic segmentation

Behavioral segmentation


Segmenting International Markets

Geographic location

Economic factors

Political and legal factors

Cultural factors



Intermarket segmentation involves forming segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

7-‐21

Segmenting International Markets



Requirements for Effective Segmentation

Measurable Accessible Substantial

Differentiable Actionable



When Segmenting Markets, watch out for:Measurability• “otherwise the scheme will not be operational” • next to impossible in some markets, hard in most markets => most companies use

qualitative and intuitive methods Substantiality• “the variable should be relevant to a substantial group of customers”• Challenge: find the right size / balance: large group segment: risk of diluting

effectiveness• Too small: you lose the benefits of economies of scale• Sometime one large customerOperational Relevance (Actionable)• Segmentation should enable to offer the suitable product/service to the chosen

segment, e.g. faster delivery service, special 24-hour technical support, etc.

Source: Webster, 2003


Task: Market Segmentation for MBA Education

Copyright WPI Foisie School of Business

Copyright Our Education Blog

Teams of 4, 10 Minutes,pin on the

board in groups,present


Your Target Market


Selecting Target Market Segments

.

.

.

.

..

.

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Your target market should be a segment that has urgent pain and the money / resources to do something about it. Additionally you have or you plan to have a product or service to reduce the pain.

A target market is a set of buyers who share common needs or characteristics that the company decides to serve.


Undifferentiated marketing targets the whole market with one offer• Mass marketing• Focuses on common needs rather than

what’s different




Differentiated marketing targets several different market segments and designs separate offers for each.• Goal is to achieve higher sales and stronger

position• More expensive than undifferentiated marketing




Concentrated marketing / Niche marketing targets a large of a smaller market• Limited company resources• Knowledge of the market• More effective and efficient

Niche Marketing



Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.• Local marketing• Individual marketing

Micromarketing



Local marketing involves tailoring brands and promotion to the needs and wants of local customer segments.• Cities• Neighborhoods• Stores

Copyright © 2016 Pearson Education, Inc. 7-‐32

Micromarketing



Individual marketing involves tailoring products and marketing programs to the needs and preferences of individual customers.• Also known as:– One-to-one marketing– Mass customization

Micromarketing



Choosing a targeting strategy depends on• Company resources• Product variability• Product life-cycle stage• Market variability• Competitor’s marketing strategies




The Moviegoer Market SegmentsWhat drives each Moviegoer Segment?• What value is this moviegoer segment looking for? • What’s supporting it?• What can be in the way?


Your Most Important QuestionsWhat Job is the Moviegoer trying to get done?describe the things your customers are trying to get done in their work or in their life. Look at the world though their eyes!

- the task they try to perform or complete- the problems they are trying to solve- the needs they are trying to satisfy

Functional Jobs: perform or complete a specific task or solve a specific problem. (mow the lawn, eat healthy, write a report, help clients as a pro)

Social Jobs:How to be perceived by others; Try to look good, gain power or status.

Emotional Jobs:Seek a specific emotional state, such as feeling good or secure

List the jobs, make them specific, then rank them by importance!

4 Teams, different segments, 5 minutes,pin on the board,present


Your Most Important Questions:What Problems is the Moviegoer trying to Solve?Describe what annoys your customer before, during and after trying to get a job done. What prevents them from getting a job done? Pain also describes potential bad outcomes (risks).Undesired outcomes, problems, and characteristics:They can be

functional (e.g. solution doesn’t work, doesn’t work well, …)emotional (“I feel bad every time I do this”)ancillary (it’s annoying to go to the store for this)

Obstacles:Prevents from even getting started or it slows them down (lack of time; cant afford cost)

Risks:What could go wrong + have important negative consequences? (I might loose credibility)List the pains, make them concrete, then rank them by importance!



Trigger Questions for Customer Pains1. How do your customers define “too costly”? “Takes a lot of time”, “costs too much money”, or “requires

substantial efforts”?2. What makes your customers feel bad? What are their frustrations, annoyances, or things that give

them a headache? 3. How are current value propositions under performing for your customers? Which features are they

missing? Are there performance issues that annoy them or malfunctions they cite?4. What are the main difficulties and challenges your customers encounter? Do they understand how

things work, have difficulties getting certain things done, or resist particular jobs for specific reasons?5. What negative social consequences do your customers encounter or fear? Are they afraid of a loss of

face, power, trust, or status?6. What risks do your customers fear? Are they afraid of financial, social, or technical risks, or are they

asking themselves what could go wrong?7. What’s keeping your customers awake at night? What are their big issues, concerns, and worries?

8. What common mistakes do your customers make? Are they using a solution the wrong way?9. What barriers are keeping your customers from adopting a value proposition? Are there upfront

investment costs, a steep learning curve, or other obstacles preventing adoption?


Your Most Important Questions: What Gains is the Moviegoer trying to get?Describe the outcome and benefit your customers want. Some gains are required, expected or desired, some surprise them. Required gains:

Without them, the solution does not work.Expected gains:

Relatively basic gains that are expected from the solutionDesired gains:

They go beyond what we expect and we love to have it. This is what customers usually come up with, when we ask them.

Unexpected Gains:They go beyond customer expectation and customers would not typically come up with them when asked.

List the gains, make them concrete, then rank them by importance!



Trigger Questions for Customer Gains 1. Which savings would make your customers happy? Which savings in terms of time, money, and effort

would they value?2. What quality levels do they expect, and what would they wish for more or less of?3. How do current value propositions delight your customers? Which specific features do they enjoy?

What performance and quality do they expect?4. What would make your customers’ jobs or lives easier? Could there be a flatter learning curve, more

services, or lower costs of ownership?5. What positive social consequences do your customers desire? What makes them look good? What

increases their power or their status?6. What are customers looking for most? Are they searching for good design, guarantees, specific or

more features?7. What do customers dream about? What do they aspire to achieve, or what would be a big relief to

them?

8. How do your customers measure success and failure? How do they gauge performance or cost?9. What would increase your customers’ likelihood of adopting a value proposition? Do they desire lower

cost, less investment, lower risk, or better quality?


Innovation: Understand your Customer beyond your Solution! What does he/she Value?


Where to get your Most Important Answers(for your Customer Insight)


Where do you look for answers? Who do you ask?


Who do you want to learn from?1. The ideal + typical customer

you envision if you get traction with your product (or project)

2. Your early adopter = the people who will take a chance at your product before anyone else does

3. Critical partners for distribution, fulfillment, other parts of the business


your job is to think through the kinds of people who have the problem you are interested in solving!


Your Ideal Customer


What is an “Ideal Cusomer”?

This isn’t about your most common customer – it’s about who you want as your most wanted customer! The 20% that create 80% of your revenue. If you have more than one ideal customer, define more than one, but set a limit to 3-5 max.

Your most hungry customer!


Gain true Customer Insight

• In-depth knowledge of customers = successful marketing• Understand consumer behavior and organizational buying

behavior

Who is important in the buying decision?

How do they buy?

What are their choice criteria?

Where do they buy?

When do they buy?


Gain true Customer Insight for Internal Projects

• In-depth knowledge of customers = successful marketing• Understand consumer behavior and organizational buying

behavior Who is important in the buying decision?How do they buy?What are their choice criteria?Where do they buy?When do they buy?

Who is important in the usage decision?How do they use it?What are their choice criteria?Where do they use it?When do they use it?


Your Ideal Customer Profile - Outline


Your Ideal Customer Profile - Motivations


Your Ideal Customer Profile – Business Goals


Your Ideal Customer Profile – Narrative + Letter


How to get Answers (for your Customer Insight)


Quantitative Research Today

Start with available Information. Test your assumptions through Secondary Research• Analyzing available Data

Social Media Monitoring (SMM)Google Tools:• Google Advanced Search • Google Keyword Planner

Google Trends (Insight)• Google Analytics

Amazon Tools:• Booktitel Search• 3-Star Search


Qualitative Research Today

Test your assumptions through Qualitative Research• Asking people• Watching people• Go through the experience yourself• Test Markets

QuestionnaireFocus GroupsUser GroupsPostal SurveyTelephone SurveySocial Media MonitoringCustomer InterviewsTest MarketsInternet feedback


Where to get AnswersQuick Content Analysis: Find the right Product/Problem description1. Google Search

– what come up in autofill? – Google Advanced Search (erweiterte Suche)

2. Google Keyword Planner

Detailed Content Analysis: What exactly are people looking for?1. Amazon Booktitel-Search2. Amazon 3-Star Search3. Google Analytics

Interviews: In-Depth Understanding


Task: Do a Google Search Analysis (Part-Time) MBA: Job – Problems - Gains Take your product/project description to Google Search1. What wording does Google-Autofill suggest?2. What topics, web-pages, blogs, companies come up

⇒what is their wording?⇒what is their content?⇒Who is there?

3. Results: – What are your new 2-4 keywords? – Who are your 3-5 key competitors?

1/3 of Class: Teams of 3,

5 minute search,share in team; agree on Top 3 in each category,

present


Google Advanced Search

Video: https://www.youtube.com/watch?v=yc6ssZnCyuA


Why Google? The Online Search Ecosystem 2013


Task: MBA: Job – Problems - Gains Do a Google AdWords Analysis

Take your product/project description to Google Adwords1. Open Google Adwords (maybe register), go to → Tools →

Keyword Planer2. Enter your keywords and take notes:

Keyword mtl. Search Competition Price (CPC)



present


Task: Do the Amazon Booktitle SearchMBA: Job – Problems - Gains

1. Start looking for book titles 2. What seems to be the core

concern of people interested in this topic?

3. Modify the answers and the wording in your workbook based on your learnings



present


Do the Amazon 3-Star Search1. Look at the 3-Star

Reviews2. What seems to be

the core concern of people interested in this topic? What are they looking for and praise or can’t find?

3. Make a list of the core problems people seem to have


Google Keyword Planner adwords.google.com/KeywordPlanner

Know how your customers are searching and talking, get wording ideas and traffic forecasts• Keywords are the phrases that customers use to research and

select a product or service• You want to use the words that your target customers use + look

forsearch for keyword and ad groups ideas based on terms that are relevant to your product or service, your landing page, or different product categoriesGet historical statistics and traffic forecasts


Find information in Keyword Planner

• Keywords, Search Volume, Competitiveness (based on AdWordscompetition)

• Note: Only use EXACT match to explore keywords– Exact match = tennis shoes– Phrase match = tennis shoes for women –or-

blue tennis shoes size 9– Broad match = shoes for tennis –or-

tennis rackets and shoes• Keywords must be compared “apples to apples”

Video: http://youtu.be/bxREkVhzEkw


• useful for casting and short term forecasting of consumer trends (where statistics is not available or not yet available)

• Free publicly available dataset; search per country, category, period

• Google taxonomy of 256 categories (“jobs” including “job listings” “career resources and planning”, “resumes & portfolios”, “developing jobs)

• Overview of increases and decreases in the use of search category in real time (normalized within search categories)

1 Exploring statistics from the internet Google Trends http://www.google.com/trends


Google Trends


Google Trends

Video: http://youtu.be/4uNrhACTv_c


Google Analytics

• Does daily, monthly, yearly tracking of web visits– Graphed over time

• Shows which pages visitors go to, how long they stay– Bounce rate– Entrance pages

• How they got there– Search engines and Search terms used

• Location, operating system, monitor resolution• Over 80 reports available


Google Analytics

How it works• Sign up for Google Analytics

– https://www.google.com/analytics/• They return code to you• You paste the code just below the </body> tag• Put it on EVERY page

– Edit>Find and Replace is easiest option• Put it in your template pages, so it will be automatically on every

page• Go to the Analytics dashboard page to see daily metrics


Google Analytics

Useful Reports• Visitors:

– Map overlay, Browsers, Operating systems, Screen resolution, Connection speed

• Traffic sources– Direct links/Referring links/Search engines, Most frequent search

words used• Content

– Top content, Site overlay

Video: http://youtu.be/WC3ONXJn9FQ


Digging Deeper: Social Media Monitoring

Social Tracking: Twitter, FB/Xing/LinkedIn Groups


The Problem of Traditional Quantitative ResearchTest your assumptions through quantitative research by using• Secondary Research• Do your own primary research• Analyzing available Data


InterviewsThe 5 big Q‘s of Interviewing People• What do you want to learn?

• Who do you want to learn from?

• How will you get to them?

• How can you ensure to be effective?

• How do you make sense of what you learn?


Interviews:Talking to People

3 Phases• Pre-planning• Interviews and other discoveries• Analysis and Insight



Some Rules when Talking to People• Do it yourself, don’t use an agency• One person at a time• Add a note taker if possible• Start with a warm-up question and keep it human • Avoid confirmation bias by hearing what you want to hear

(you can play a game with yourself)• Ask for stories: “How did you do xyz” “Why?” “What was good

about it?” “What was not so good about it?“• Are there solution hacks? Ways the customer tried to solve the

problem?


Develop a Question GuidelineGet Stories, not Speculation!• Watch out for speculations (Would you buy this product? How much

would you be willing to pay? …) …humans are very bad in predicting their future behavior!

• Instead, ask your interview partner to share a story about the past!• How did you do… in the past?• How exactly did you do it?• What worked well? Why do you think this worked? What was really good about it?

What was the most fun about it? …• What would you like so see improved? What frustrated you most? If you could do it

all over again, what one thing would you change?• What were the overall “cost” to you (time, money, nerves, …) – watch out for the

words used!• What were the overall “gains” to you (fun, outcome, …) - …the words used!• What was the most important reason you bought/used XX at the time?• …Why ….Why…..Why….Why….Why?


More to Develop a Question Guideline• Ask open questions• Talk little and get the other person sharing openly (80/20 Rule!)• Observing uninfluenced behavior upfront, can lead to great

insight and will help you find the right questions.• Parrot back or misrepresent to confirm• Do a dry run


Even more to Develop a Question Guideline• If anything, ask: “If this new product were to solve just one

problem, what would you want it to solve?”• No Magic Wand Questions:

“If you had a magic wand that makes this product do whatever you want, what would it do?”

It’s the customers job to explain their behavior, goals and challenges. It is the product designer's job to come up with the best solution.


Asking for the PriceTesting for price: the hardest questions to get answered by qualitative questions are

– „Will people pay?“ – „How much will people pay?“

because answers to these Q‘s are extremely suspect.


Find your Interview Subjects• Try to get one degree separation away• Be creative and don’t expect people to come to you

– Where are they waiting and bored? (in line; moms on soccer tournaments, …)

– Where are they in in their moments of pain?– Referrals?– Conferences, trade-shows, meet-ups?– Social Media Groups?– What do they enjoy? (pay a café, a manicure, ....)

If something does not work, try something new!


More about Enterprise Interview Subjects

• Conferences, trade-shows• Xing, LinkedIn, - know the title of your prospects• Start in the middle – move up with more experience and

knowledge• Ask for advice in a relevant chat • Decide if you want to ask for advice or if you want to sell• People are willing to grant time to friendly people, more so, if

they are students or researchersIf something does not work, try something new!


Task: You want to develop the Next Generation MBA Education. Find out, what really adds Value to your Customers

Task 1: develop a question GUIDELINE- What do you want to learn?- How do you get stories, not fairytales?- How do you dig deep?

• What value is your segment looking for? • What’s supporting it?• What can be in the way?

Teams of 3, 15 minutes

development in written form


Task: You want to develop the Next Generation MBA Education. Find out, what really adds Value to your Customers

Task 2: Do 4 Interviews (an interviewer, a note taker, an interviewee + 1x interviewee outside the class; each one 1x in each role)- “get out out the building” catch one

person outside this class- Each one is an interviewer once, each

on is a note-taker once- Observe what works and what does not

work

Teams of 3, 60 minutes,

Then write down key findings on the Value Proposition Canvas, present + comment on observations.


Data AnalysisHow do you make sense of what you learn?It’s not about scientific significance, its about pattern detection• To find patterns, you need to track the data

Good working method: – write down as many patterns and observations as you saw on post-its– Put them all on a wall and sort them– Discuss the patterns as a team and re-view your assumptions, your b-

plan, product plan, project plan.• Don’t take one persons comment to literally: look for patterns and

apply judgment! In real life, talking to 50 people is a good amount.And remember:• You are an intelligent filter, not an order taker• People want to be helpful and nice; you want to hear nice things –

keep that in mind!!

Illustration copyright of Steve Blank, „The Startup Owners Manual“


Lean Experimenting your way up• Only talking to people is not enough; building a live product is

expensive and time consuming. Built your way up, iterating to the RIGHT product that meets a customer need and that sells.

Source: Chart by Gliff Contable, Talking to Humans


How do you make sense of what you learn?Verify your learnings by testing and re-testing our “product”:

ConversationsMock-upPrototypeLive Product

Put your product or project in front of customers and watch and listen to their reactions. customers and get their feedback.



Making more sense of what you learn by putting people through the actual experience• Built a Minimum Viable Product (MVP) that offers the value your

customers value most and get feedback• Built a landing page test that offers the MVP or tests some

wording and run the analytics of who- is interested to read more- asks for material by entering an address- clicks the “buy now” button



ReCap1. Changes in Market Research

2. What is Market Research good for?

3. What should you Research?

4. Market Segmentation and Target Markets

5. Find your most important Questions

6. Where to get Answers

5. How to get your Most Important Answers

• Qualitative Research TodayGoogle + Amazon AnalysisThe Problem with Traditional Quantitative Research

• Quantitative Research Today

• Interviewing People



Dankeschön!

Date post:	13-Apr-2017
Category:	Marketing
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