Why is market research important before a product launch

Market research can be what determines whether your product will be a success. Not only can you find out who will compete with your product, but also what your potential customers prefer. This allows you to not only influence the direction of your product in the right direction, but also to create advertising campaigns customized to consumers. Although market research is often overlooked in favor of more visible marketing, it is something that should be one of the marketing team's priorities.

What is market research?

Market research refers to the process of first gathering information about consumers, competitors and the current state of the market. This data is then analysed, interpreted and then used by the development and marketing teams to create their strategies. The development team has the opportunity to adjust the product and its parameters to make it more attractive to potential consumers. The marketing team can create campaigns that are better targeted at consumers, for example by highlighting a feature that has proven to be more important to consumers than originally anticipated. You can use questionnaires, interviews, focus groups and market observation.

The way to the customer's heart is through his interests

That is, through his interests, preferences and needs. If you find out who your customers are, what their lifestyle looks like, what products they use and what needs they have, you can ensure that your product meets most of their wants and needs. And you can do this both in the development and marketing campaigns created specifically for them. You can do this by highlighting popular features or targeting your ads appropriately. At the same time, you can find out what potential consumers don't like and avoid it early on.

In the chart you can see a sample of the results of the questionnaire focused on customer behaviour in the field of intimate hygiene. The whole questionnaire had 15 questions, which were chosen by the client with the help of our project team. It largely depends on the choice of the target group and the product, but in the vast majority of cases our clients receive hundreds or even thousands of completed questionnaires as a result of the testing.

Defining the target market

When several customers you want to sell a product to have something in common, this is the target market. Through market research and data gathering, you can determine who your target audience is and what their characteristics are. This could include demographics, interests, goals, hobbies, lifestyles, behaviours or values. When you find out what these groups have in common, you'll have key information to adjust your strategies and create an effective marketing campaign that targets your ideal customer.

The more specific you can be about these target groups, the better. For example, one group may focus mainly on design. How the product looks and what materials it is made of may be key to them. They expect the product to "do what it's supposed to do" and will make their choice mainly on gut feeling. For another group, quality, performance and secondary features may be key and design may be a secondary consideration. Each audience has different preferences and priorities. If you know them well, you can successfully target your campaigns to them, or even create a joint campaign that will resonate and appeal to everyone in your target market.

Know your enemy

Even if you don't consider your competitors to be your enemy, it's good to know them and have an overview of what they're doing in the market. Focus on their product offering, product parameters, pricing and marketing strategy and success. Find out what their target market is and compare your target audiences. Do you overlap or do you 'fit' the market and not conflict? Make a comparative analysis and formulate a strategy. You can influence product development and marketing to ensure greater market success.

Will it be enough?

In addition to the above, market research can help you estimate how much of the product and its variants you need to launch, and at what price, so that it is still attractive to consumers and you make a reasonable profit. You will also be able to match the quantity of products and product variants to the preferences of the target groups. You will know how much to produce, how much to stock and which suppliers and distributors to use. If your research is of good quality, you will be able to forecast demand, analyse the data and develop strategies that meet both the needs of the target market and its regular changes throughout the year.

Create the perfect battle plan

Use all the data you have collected, analyse it and create a bulletproof and comprehensive battle plan. From product development, production, pricing, distribution, marketing strategies and advertising. You can increase the chances of a successful product launch because you already know your target audience and what your ideal customer and potential customer wants and needs. However, you can also apply these strategies to a product that is already on the market but for which you want to increase sales. It may be that your ideal customer has no way of knowing about this product or that it is ideal for them.

The road to the customer is often thorny

Many consumers do not like to fill in forms and questionnaires or do not see the point in doing so. To find out what their preferences are, you can encourage them to take part in your questionnaire. Some will respond positively to a well-worded verbal incentive, while others will take the questionnaire in exchange for a gift, a discount code offer or to enter a lucrative prize draw. Because it is not easy to get feedback or completed questionnaires, Testuj.to offers its clients market research as part of their campaigns. This is part of the signing up process for the testing and the completion of the questionnaire is a requirement for people to take part in the test and be eligible to receive a free or discounted product.

Our clients at Brand Testing Club have the ability to define their target audience exactly according to their needs. We advertise and target testing directly to them, so that only those whose opinions and reviews are useful to our clients become product testers. In addition to the reviews themselves, clients can take advantage of our market research offering and ask their target audience relevant questions about their lifestyle, habits and preferences. This results in hundreds or thousands of questionnaires of available data. In addition to this raw data, they can obtain clear and graphical analyses that are suitable for presenting the results and for developing and creating appropriate development and marketing strategies.

For example, we focused on market research in our campaign for Mattel, which consisted of 16 testings in two countries. In addition to positive and informative cross-platform reviews, our client received over 6,400 completed questionnaires of up to fifteen questions. This volume provided comprehensive information reflecting the state of the market and the interests of the target audience. After reading them, the client gained valuable insight into customer preferences and immediately applied the data to all aspects of their sales strategy. In addition, the reviews provided valuable feedback which, among other things, motivated the client to modify some of its products.

How does it work?

This process ensures that our clients are satisfied and receive valuable information. About the market and their target groups. It's important to us that our clients are satisfied, so we meet their needs and allow them to choose how many market research questions they want to have in their questionnaires, how they will be formulated, and whether they will conduct the analysis themselves according to their exact preferences or receive it from us in a clear format.

Conclusion? Don't forget market research

Market research is an important stage that should not be overlooked when launching a product or developing marketing strategies. It provides essential information and data about the target market and target groups, allowing you to create a profile of the ideal customer and adapt product development, pricing and promotion to the needs of the potential consumer and your business. Market research is also useful for products that are already on the market, as it can provide the marketing team with essential data and allow them to tailor the product description and promotion to the ideal customer.

If you are interested in detailed market research in addition to authentic reviews and quality photo and video content, please contact us and we will be happy to explain everything in detail.