There are three ways an audience can respond to a product. Number one would be acknowledging engaging with it, number two would be identifying with it an interpreting it, and number three would be totally ignoring it and disregarding it.
The purpose of market research is to gather information on markets, customers and consumers. It is a business strategy to identify what appeals to your chosen market and what your chosen target audience identfies with. Many companies see market research as a competition and they often compete with other companies to analyse the same chosen market. Some companies end up getting what they are into right, others end up getting it wrong because they don’t analyse the research closely enough. Some companies do get it right but it is often to late as another company has already worked it out and they have already produced content for that market so that gap in the market is gone as anything similar to it would be seen as an attempt to rip the other company’s product off and ‘copy it’. This is the main reason why copyright is put on content so people don’t ‘copy it’.
Many competitors compete for market research that is linked closely with marketing research. Expert practitioners work to systematically gather information. The first step of market research is to first identify if there is actually a gap in the market at all for your particular product. If there is, you move onto market size, is it just a few individuals, a group of people, just one organisation or quite a few organisations? Social and opinion research and applied social sciences also come into it too. Statistical and analytical methods and techniques can be used to secure some good solid and concrete market research.
Ultimately, it’s about taking risks at the end of the day, and whether those risks pay off, not just you taking a risks, but your whole team taking risks. Suede decision making and quick thinking are required with market research because it’s an ever changing market out there in the big wide world. You have to have a degree of resourcefulness and knowledge about a chosen market before you even start conducting market research, it’s the same with audience research, you have to have a degree of resourcefulness and knowledge about a chosen audience before you even start conducting audience research.
Market segmentation, market trends and market information also come into market research, as well as all these things:
■Advertising the research
■Marketing mix modelling
■Simulated Test Marketing
Two of the most famous companies that conduct audience research are BARB and RAJAR who you would have remembered me mentioning if you’ve read my previous posts. Audience research links closely with audience measurement and the purpose of it is to measure how many people in an audience watch, read, play or listen to a particular product so they know if they need to improve it or not and/or need to change it in some way. They may have the information already there about what they need to change based on what their target audience are into, or they may need to research it further. One of the most common things is when a show starts losing viewers because it has changed too much over time. This can be resolved by the makers of the show going back to how it used to be by changing it. This can involve script re-writes sometimes.
Audience research can be used to identify not only who is consuming a product, but also how are they consuming it i.e. are more people consuming it online on either a computer (PC), a tablet or a phone than than they are on a TV? Audience research helps broadcasters and advertisers determine certain information. It all comes down to audience share, market share, readership, viewership and listenership in the end. It can be broken down by media market into different areas i.e. the metropolitan area in London being one of them. Some areas are large whereas others are small, and obviously the smaller ones are easier to analyse than the larger ones as there are less people so they are more likely to be into similar things. Web traffic on websites also comes into it sometimes. Audience reseach is a broader meaning/term of audience measurement and market share is pretty much the same thing as audience research.
Product research is near enough the same thing as production research and the purpose of it is to provide content for a product. It is related to the production of a media product itself and researching commercial viability and planning production and post production comes into it too.
Market research collects and analyses information about a market and this collection and analysis leads to statiscal data about an audience being gathered. A product will compete with other products for revenue and audience. Competitors, audience awareness of a product, pattern of behaviour and attitudes towards services and products also come into it too.
Obviously primary, secondary, qualitative and quantative research methods and techniques come into market, production and audience research methods and techniques. Even though they are all linked closely together, market research tends to be linked more closely with them than production and audience researches are.
So what i’m saying is information located by conducting and/or looking at surveys, questionnaires, interviews, flyers, posters, leaflets, newspapers, books, magazines, comics and internet webpages can all be used as part of market, audience and production researches as well. TV programs, films, video games, and internet videos can be used sometimes too, it depends what it is. Also those likes, dislikes, comments, views, age ranges, gender (male or female) and/or graphs can also be used on some occasions too. So most of the things mentioned in this paragraph would be all the methods, techniques and sources of information.
A mass audience is split into different categories.
Sources of Information:
http://en.wikipedia.org/wiki/Market_research, http://en.wikipedia.org/wiki/Audience_measurement, http://www.slideshare.net/mroper/research-techniques-in-the-media-industry, http://en.wikipedia.org/wiki/Quantitative_research, http://en.wikipedia.org/wiki/Qualitative_research, http://en.wikipedia.org/wiki/Secondary_research, http://en.wikipedia.org/wiki/Primary_research.