Viewing entries tagged
market research

Millennials vs. Generation Edge

Millennials vs. Generation Edge

Screen Shot 2014-04-28 at 4.05.03 PM

I came across some interesting research from The Sound over the weekend – the differences between Millennials and Generation Edge and how to market to them. First, let me define. Millennials are described as those born between 1981 and 1996 who grew up during the dotcom boom and the global warming crisis. Generation Edge is the group born between 1995 and the present, who have only known a world on the edge of collapse (economic, political, environmental and social). The research describes how vastly different these two generations are, and I found it very interesting. Unlike Millennials, Generation Edge is being forced to grow up quicker than their predecessors and they know that nothing in life is guaranteed. The last quote of the deck was especially interesting from a marketing standpoint - "Marketing to Millenials resulted in an endless quest for brand authenticity. Generation Edge will be engaged by another 'A' word. The alternative."

The generation after Millennials are NOT like Millennials: We call them Generation Edge

from The Sound.

Live from #TMRE13 Keynote: The Pragmatic Brain

Live from #TMRE13 Keynote: The Pragmatic Brain

Stereotyping is a natural human tendency. Brands are stereotypes. When you think of Disney, what comes to mind? Nike? BMW?

Brand stereotypes create reality. For example, Coors - cold activated cans, Rocky Mountains in the background, frosted bottles. You've seen all the commercials. They create the idea in your mind that Coors' beer is actually colder and more refreshing than other brands. They are tapping into your unconscious and making you believe it.

Stereotypes resist change, but CAN change. In research studies, most people won't change their minds, even after contact itself. Those ideas are so deeply embedded in their minds, that actual proof which negates it, doesn't affect them. However, a few of those who came in contact, actually did change. In order to change your brand's stereotype, you must first make small, significant changes to tap into your consumer's unconscious.

The interactions must feel cooperative. If consumers feel you have the same ideals/goals they do, you will see positive change. For example - Guiness. Not a beer you normally associate with sports. If you saw a commercial of a bunch of guys sitting around watching sports, eating chips and drinking Guiness, nobody would believe it. In this commercial, they associate themselves with loyalty, friendship and having the same values you do, which sets the context for their desired change.

You must drive change with the right type of contact - it must feel authentic. Stereotypes are part of who we are. Find out how people see themselves and how they see your brand. You will then be able to align the two and position your brand the way YOU want people to see it.

Bottom line for market research professionals. Think of your brand as a stereotype and strive to understand the full stereotype. Then you will be able to affect change.

Where Have All The Good Ideas Gone? #TMRE13

Where Have All The Good Ideas Gone? #TMRE13

Steve Landis and Andy Smith spoke about opportunities to help grow your business in Where Have All The Good Ideas Gone? In this rapidly changing world of consumers, there are more products and options available than ever before. So, how does a company make it in this cut-throat market?

Change your ways. The changing marketplace is forcing companies to change their way of measuring success. It's not longer acceptable for survival to be the main goal. Your main focus MUST be growth - growth = success.

Traditional measures don't link to growth. Old ideas that may have worked before, are no longer relevant in this day and age. What makes a good idea? Those that will grow your business, not those that will just boost sales. Ones that may seem crazy at first, but will benefit your company in the long run.

TMRE: Shifting to an Emotional Lens in the Drive-Thru

TMRE: Shifting to an Emotional Lens in the Drive-Thru

The majority of our thoughts take place in the subconscious mind. Usually, we don't know WHY we are doing something if we are asked directly, but there is usually an emotional reason for it hidden in our subconscious. The folks at Coca-Cola were curious to learn about people's experiences in the drive-thru. Instead of conducting this research ethnographically, which would involve being right there with consumers in the drive-thru to observe their actions and emotional reactions, Coca-Cola decided to take a different approach and do 30 one-on-one IDIs (in-depth interviews). 

The way they did this successfully was by asking respondents to go through the visualization process, to mentally bring them back to their drive-thru experience. "If you ask them to tell you about one of their memories or experiences, they tell you something you might not have heard otherwise," says Kristian Aloma from Brandtrust. His team even asked respondents close their eyes while answering some of the questions for better recall of the event. "The key is NOT asking them why. There are ways a trained researcher can get past the surface to uncover their actual experience," Aloma states.

To Coca-Cola's surprise, many respondents revealed very emotional experiences at the drive-thru. For some it was a place where they could go in the morning to brighten their day; for others it was a get-away from their hectic routine where they could have someone else take care of them. It was a part of their ritual, and it made them feel good.

The presentation was definitely intriguing, and it was also very educational. I learned a lot about the different techniques that can be used to get respondents to open up about their experiences, especially if an ethnographic study is not possible. I'm eager to tell my team members about the interesting findings of this research!

Mayuri Joshi isResearch Magician at April Bell Research Group, a boutique, full-service marketing research firm, committed to delivering fresh insights you can act on! Learn more at aprilbellresearch.com.

Live from #TMRE13: The Pragmatic Brain

Live from #TMRE13: The Pragmatic Brain

"Brands are stereotypes within themselves," he states. When you hear the word Disney, you might immediately start thinking of Mickey Mouse or your favorite Disney movies and feel some kind of emotion. What you may not realize, is all of those thoughts and feelings that the word Disney brings about is the stereotype that you have of the brand. And in this scenario, the word "stereotype" is not necessarily a bad thing. 

A great example Sack provided is of a prank that Jimmy Kimmel pulled back when the iPhone 5 was about to be released. The phone had not actually come out yet, but Kimmel surveyed people on the streets by showing them the iPhone 4S and telling them it was the new iPhone 5. He asked them, "How do you think this is different than the previous iPhone?" And to my surprise, these people were convinced that they were actually holding a new iPhone 5 and described it as "lighter" and "sleeker" than the iPhone 4S. It just had to do with the perception or stereotype they already had in their minds about the new and improved iPhone 5, and it was affecting their reality. 

All of us have ideas and images that come to mind when we think of certain brand names. So, when thinking about your brand as a whole, it is important to understand the stereotype that it holds in the marketplace. 

Mayuri Joshi isResearch Magician at April Bell Research Group, a boutique, full-service marketing research firm, committed to delivering fresh insights you can act on! Learn more at aprilbellresearch.com.

Live from #TMRE13: Trend Spotting: Trends that Define a More Discerning Consumerism

Live from #TMRE13: Trend Spotting: Trends that Define a More Discerning Consumerism

How awesome would it be to work in the liquor industry and have the word "Vodka" in your job title? Well Janu Lakshmanan, Head of Global Vodka Consumer Insights for Beam, does exactly that. 

Based on her presentation, it was easy to see how passionate she is about her job (and who wouldn't be?) and how hard her team has worked on figuring out the 5 current trends in the vodka industry. 

1) Think Global, Get Local - People have started to care about where their food/drink comes from. Chipotle is a company that does a great job with emphasizing that it only uses local ingredients.

2) Maximized Moments - This is all about taking things to the next level and enhancing the overall experience. Heineken put a chip in their beer bottles that would light up based on the energy in the room (for example, it would light up to the beat of the music).

3) Collaborative Lifestyles - There is something special about sharing and making the world a better place. Lyft is a car service program where people offer rides in their personal cars to create an interactive experience of helping out others, while getting the chance to meet new people. 

4) Synthesthesia - Engaging all of your senses to make the overall experience better. Salta is a beer company that wanted to tie together Rugby and beer by having vending machines that men have to tackle, and based on the strength, the machine gives out bottles of Salta beer. 

5) Made for One - Customized just for you. CustomMade is a company that can make anything (from tables to toothbrushes) custom made.

I loved the presentation! Her passion and energy, as well as her use of creative examples, made this one of my favorites! 

Mayuri Joshi isResearch Magician at April Bell Research Group, a boutique, full-service marketing research firm, committed to delivering fresh insights you can act on! Learn more at aprilbellresearch.com.

Live from #TMRE13 Fast Future: The Rise of Millennials

Live from #TMRE13 Fast Future: The Rise of Millennials

I had the pleasure of listening to David D. Burstein talk about his book, Fast Future: How the Millennial Generation is Shaping our World. Our generation is the largest one to date and the first to have a globally connected culture and set of ideas, not confined by borders.

With 96% of our generation having daily and regular access to the internet, our possibilities are limitless. We are coming together with a sense of community all over the globe and are becoming empowered to push the limits and affect global culture.

60 years ago, our grandparents were most likely married by age 21, buying homes and starting families. Very strange for someone like me, 25 years old in 2013 and focused solely on my career, with no plans for marriage or a family in the near future. Women especially are changing society norms by questioning what truly makes them happy and becoming familiar with what they really want out of life. 

In the next five years, 100% of our generation will own a smart phone. With technological advances and a rapidly changing society, the future will rely heavily on keeping consumers more engaged than ever before. 

Live from #TMRE13 Consumer Behavior & Consumption Across Media: The Digital State of Play

Live from #TMRE13 Consumer Behavior & Consumption Across Media: The Digital State of Play

Remember the days when you put down your pen and paper, turned off the TV and enjoyed what you called "computer time"? Listening to that dial up internet static was something I looked forward to all day because it meant I got to explore and "play" on the computer. I'm sure you remember the AOL running man icon right? Classic.

Fast forward to 2013 and you'll find that there is no such thing as "computer time" anymore, because computer time is ALL the time. Your phone is not just a phone anymore, its become your life - its your email, your calendar, your notebook and your entertainment. Everything you need in one small portable device and the world at your fingertips.

We are constantly connected and usually in several different ways. Have you ever found yourself walking through a store, shopping for groceries while talking to your mom on the phone while browsing your phone's calendar to let her know if you are free for dinner tomorrow night? I have. 

According to Yahoo's Tony Marlow in his presentation on Consumer Behavior & Consumption Across Media: The Digital State of Play, our brains are re-wiring themselves in order to help us navigate our digital lives, which is why younger people are significantly better at multi-tasking. This explains why my grandmother can't seem to figure out what a "tweet" is or how to "tag" someone on Facebook. She wasn't wired for this kind of activity.

I won't hesitate to admit I would be LOST without my phone and I get anxious when I don't have it right next to me. Makes me wonder how we ever functioned before cell phones and the internet. And I certainly don't know how we ever survived without iPhone's handy navigation!

Live from #TMRE13 Putting a Finger on the Fans' Pulse

Live from #TMRE13 Putting a Finger on the Fans' Pulse

 If you didn't notice all the buzz about Miley Cyrus's VMA performance this year, you might be living under a rock. My Facebook and Twitter feeds were littered with comments about her performance for days after the awards were over. Whether it's good attention or bad, it gets you talked about. So is this really just annoying newsfeed junk or marketing gold?

Christopher Chen and Stephanie Gomez from Universal Music Group shared with us how and why they track these comments in Putting a Finger on the Fans' Pulse.

Universal Music Group takes on the task of tracking this buzz - whether positive, negative or neutral. They track more than 3 million social conversations on a given day, between Facebook, blogs, forums, Twitter, you name it. Anything from a risqué performance to a funny YouTube video could trigger chatter like this. Not only does this gossip get you noticed, it has the potential to put your company on the map.

Earlier this year, Jay-Z and Samsung teamed up for an exclusive pre-release opportunity for Samsung Galaxy users ONLY. His new album, Magna Carta Holy Grail was available for free to those users 72 hours before it was set to release to the public. He announced it during the NBA finals in a 3 minute commercial - guess what my newsfeed blew up with that day? I don't know about you, but as an iPhone loving Jay-Z fan, I was quite tempted to switch to Samsung! Here's the story: Jay-Z Magna Carta Holy Grail lands today for Samsung Galaxy owners

Live from #TMRE Social Media and Nascar: Driving Product Sales Together

Live from #TMRE Social Media and Nascar: Driving Product Sales Together

What images come to mind when you think of Nascar? Fast cars, screaming fans, cold beer and a good ol' burger are a few of the essentials that make up a perfect day at the track. It just wouldn't be the same with a glass of wine and a salad - buzz kill. Kevin Thomas, VP of Strategic Marketing for Roush Fenway Racing gave an exciting presentation on how performance of their cars can increase sponsors ROI over time.

Roush Fenway Racing knows just how to draw in the fans and give them what they want, which is why they are one of the top companies to sponsor. It's not about the price, its about performance. Their creative approaches to PR have proven to not only justify a company's sponsorship of their own hot rod, but the ROI usually exceeds expectations.

Take Cargill for example - a new sponsor of Roush Fenway Racing and looking for a unique approach to market their brand. In addition to increasingly good performance of their car, they went a step further to engage fans at the track - good ol' cookout at the track, offering burgers to fans using their new finely textured beef. Not to mention, the opportunity to meet Ricky Steinhouse Jr.!  

The results they saw showed that Cargill was more than just "paint on a fast car". Not only did they see spikes in beef sales after races, they saw increased sales over time as racing performance increased. All while having a great time at the track, enjoying some great food and meeting famous drivers. Not too shabby for a hard days work!