We recognize two fundamental problems with the way in which market research is being done today.
A failure to effectively integrate data across multiple methods
There are dozens of methods, tools and technologies available to conduct market research, each with their own strengths and weaknesses. Interview, survey and focus group data are subject to systematic biases. Observation-based approaches describe behavior but ignore underlying attitudes. Neurophysiological methods indicate what brain areas activate in response to different marketing stimuli, but they don’t reveal whether that activity facilitates or hinders purchase decisions.
How do you know if your research is generating reliable results?
The misuse of neurocognitive and psychophysiological tools
Newer methods and technologies designed to help researchers get beyond the limitations of self-report can be misleading. We all know that while Formula 1 cars are created by highly skilled engineers, winning races requires highly skilled drivers. In the same way, the new tools available to market researchers don’t generate insights automatically. Specialized training and knowledge are required.
There are no silver bullets.
The most powerful insights arise from the interpretation of integrated information.
Most firms only look at only one or two dimensions of the customer response. By analyzing and integrating what customers think, feel, say, and do, we can identify the true factors driving purchase decisions.
Our specialists work closely with clients to build custom research solutions by employing optimal, integrated combinations of conventional and cutting-edge methods to meet any given challenge.
No one research method is indispensable, but Merchant Mechanics’ ability to apply expertise in neuroscience and consumer psychology is essential for success in research.
Designing, developing and marketing products and services with these robust insights in mind dramatically improves sales, productivity, and satisfaction.
Retail Forensics ® is a multidimensional, integrated approach that identifies patterns in consumer behavior which reveal perceptions, preferences and attitudes undetectable by traditional market research methods.
We help our clients understand their customers’ Path to Purchase by analyzing all four dimensions of the customer response–what they think, feel, say, and do.
For more than a decade, our experts in Consumer Behavior, Psychology, and Neuroscience have been applying Retail Forensics®—the multi-disciplinary science of analyzing what consumers think, say, do, and feel in order to determine how and why purchase decisions are made—to help our clients create better products and services and market them more effectively.
We collect behavioral, attitudinal, biometric, and neurocognitive data (while avoiding data biases) to identify relationships which reveal the crucial links between stimuli and customer response. These results generate actionable insights which help our clients strengthen their brands and create, refine, and more efficiently market their products and services.
Learn how we apply Retail Forensics by checking out our Research Services.