True North Innovation Market and Customer Research
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True North Innovation Market and Customer Research

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Top tips for researching your market and your target customer

Top tips for researching your market and your target customer

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True North Innovation Market and Customer Research True North Innovation Market and Customer Research Presentation Transcript

  • Understanding Your Market and Your CustomerRowan Norrie True North Innovation 2011©
  • Agenda• Understanding your market – The business environment – Search tips• Understanding your customers – Who are your stakeholders – Voice of the Customer (VOC) True North Innovation 2011©
  • Layers of business environment Macro environment l lt ura io cu Technological Le c So ga l ic Env om Industry Political Econ iron (or sector) m iers Cus uppl enta S tom ers rs Re tito l e gu mp la Co to ry Internal environment (organisation) True North Innovation 2011©
  • Using Google effectively Exact phrase “immune deficiency” or immune.deficiency Exclude words e.g. Rome –hotel Site specific e.g. dancing site:youtube File specific e.g. travel filetype:pdf Similes words ~clinical.studies will return clinical.trials as well Images and videos (but careful about copyright) True North Innovation 2011©
  • Other good general sources• Wikipedia• Slideshare• Google Scholar (for academic articles)• Google books• LinkedIn• Docstoc• Google books• Espacenet (for patents) True North Innovation 2011©
  • Agenda• Understanding your market – The business environment – Search tips• Understanding your customers – Who are your stakeholders – Voice of the Customer (VOC) True North Innovation 2011©
  • “If I’d asked mycustomers what theywanted, they’d havesaid a faster horse.” Henry Ford True North Innovation 2011©
  • Who is your customer?How do you find them?What do they value? True North Innovation 2011©
  • Who Are the Customers? • External: Individuals or organisations outside of your business who are usually associated with paying money for your products and service • Internal: Colleagues involved in your product / service – e.g. Engineering, Manufacturing, Quality, Marketing • Others: Stakeholders who have an impact / are impacted by your product, e.g. Regulatory, Suppliers, Collaborators True North Innovation 2011©
  • Customers define “Quality” Flexibility & Options You must understandTimeliness Accuracy what the customers Customer care about, Ease what they Aesthetics of Use VALUE! Price & Cost True North Innovation 2011©
  • Performance need categories Product or Service Features, Attributes, Dimensions, Characteristics Relating to Quality the Function of the Product or Service, Reliability, Availability, Effectiveness, Recovery, Customer Returns, Defects, Rework or Scrap Process Cost Efficiency, Prices to Consumer (Initial Plus Life Cycle), Repair ies? Cost Cost Costs, Purchase Price, Financing Terms, Depreciation, Residual Value, Raw Material, Energy Efficiency pr iorit Speed Speed are t he Lead Times, Delivery Times, Turnaround Times, Setup Times, Delays, Up Time, hat Equipment Availability, Rolling Speed, Flexibility Service Service W Health, Safety and Environment Policy, Service Requirements, After-Purchase and Safety and Safety Reliability, Parts Availability, Service, Warranties, Maintainability, Customer- Required Maintenance, Product Liability, Product/Service Safety, Recordable Injuries, Lost Time, Environmental Incidents CorporateResponsibility Ethical Business Conduct, Business Risk Management, Health Safety andResponsibility Environment Policy, Code of Conduct True North Innovation 2011©
  • Voice of Customer• Step 1: Segment your market• Step 2: Communicate• Step 3: Analyse• Step 4: Feed VOC into design process• Step 5: Maintain dialogue True North Innovation 2011©
  • Step 1: Segment your market 1. Group by:- • Geography • Demographics (age, gender, occupation, income) • Psychographics (lifestyle, social class, personality) • Behaviour 2. Identify most attractive segment • Size and growth • Competition • Company objectives / resources • Access to segmentSlide 13 True North Innovation 2011©
  • Step 2: Communicate with your customers • Online / telephone surveys • Focus groups • Interviews • Observation • Comment cards • Complaints • Sales reports • Communities of interest True North Innovation 2011©
  • Interviews• Types – informal; general guide approach; standardised open-ended; standardised closed• Topics – behaviours, opinions/values, feelings, knowledge, sensory, background / demographics• Structure – fact-based and present / past questions first to ease in, before asking about emotions and future True North Innovation 2011©
  • Observation• People do their work or go about their day• Establish informal dialogue with user• Observe and listen to actual behaviours• Identify what works / what doesn’t work True North Innovation 2011©
  • Focus groups• Plan well in advance• Send out invites and then telephone reminders• Provide food and drink to help create relaxed atmosphere• No more than 8-10 participants• No more than 6-8 questions• Relaxed, but professional style• Prompt, play devil’s advocate and encourage discussion to get below surface True North Innovation 2011©
  • Voice of Customer• Step 1: Segment your market• Step 2: Communicate• Step 3: Analyse• Step 4: Feed VOC into design process• Step 5: Maintain dialogue True North Innovation 2011©
  • Collate data gathered • Online / telephone surveys • Focus groups • Interviews • Observation • Comment cards • Complaints • Sales reports • Communities of interest True North Innovation 2011©
  • Affinity Diagrams• Gather ideas from Theme 1 interview transcripts, Need Need surveys, etc. Need Need• Generate customer need statements on cards or sticky notes Theme 2• Group the cards to find Need Need Need the “affinity”• Label the groups of Need Need cards True North Innovation 2011©
  • Customer Input to Key Issues Voice of Customer Input Key Customer Issue Critical To Quality Requirement Actual Customer The Real Customer The Specific, Precise Statements and Concerns, Values or and Measurable Comments Expectations Characteristic•“This mower should be •Wants the mower to •Mower starts within easy to start” start quickly and two pulls on the cord•“The cord shouldn’t be painlessly •Mower starts with a too hard to pull” 5kg pull on the cord•“I want to talk to the •Wants to talk to the •No additional menu right person and don’t right person quickly items on voice system want to wait on hold •Customer reaches too long” correct person the first time within 30 seconds•“The vehicles are •Low availability Vehicle Availability > always breaking down” 95% during 7am - 7pm True North Innovation 2011©
  • Key Issues to Critical Quality Requirement Key Customer Issue Critical To Quality Voice of Customer Input Requirement Actual Customer The Real Customer The Specific, Precise Statements and Concerns, Values or and Measurable Comments Expectations Characteristic•“This mower should be •Wants the mower to •Mower starts within easy to start” start quickly and two pulls on the cord•“The cord shouldn’t be painlessly •Mower starts with a too hard to pull” 5kg pull on the cord•“I don’t want to wait •Wants an efficient •Appointment within 5 too long for an appointment booking days appointment” service •No cancellations on•“I don’t want my part of hospital appointments to be •Reminder sent day cancelled last minute” before•“The vehicles are •Low availability Vehicle Availability > always breaking down” 95% during 7am - 7pm True North Innovation 2011©
  • Step 5: Maintain dialogue• Customer advisory groups• Email/newsletters• Social media (Twitter, Facebook, LinkedIn, ScoopIt, Google+) True North Innovation 2011©
  • Summary• Carry out continuous market scanning• Customers – what do they value?• Voice of the Customer: 1. Segment your market 2. Communicate 3. Analyse 4. Feed into design process 5. Maintain dialogue True North Innovation 2011©