Market research is an organized effort to gather information about an audience, market, or consumer. It is necessary for any business or producer to entail, and refers to specifically researching a target market in order to best sell a product. Typically, this is a little similar to audience profiling, but not entirely the same, as it refers to the way that the product can be displayed as a “Product” to the audience when it is either in production, and this is NOT the same as “Marketing”, which specifically refers to the methods of how the product is actually consumed or prepared for consuming.
Firstly, the product market is how the product itself will be marketed toward a target audience, if it is a film, the typical scheme would be to advertise on TVs, billboards, and movie trailers within the cinema. If the product is something referring to a movie, such as a McDonald’s toy, having posters or TV snippets of the film would be a way to catch the eye of this target audience.
When organizing market research, Competition will also have a large impact on the ability for the product to be consumed, and at which rate in comparison to the competition directly. Marvel and DC are prime examples, and they are constantly battling it out as to which comes out on top. For any new product attempting to reach the market, researching any media articles, video’s or podcast’s would be a good way to directly find out what other products may be competing for the same audience, and if they are similar to what you are trying to achieve. It is a key aspect within the business and media world, as you will be constantly trying to fill in the holes which other companies may have neglected to fill.
Competitor Analysis is the act of identifying a strategy of how to market your specific product, and will also include the performance and method of a competitors. This is the research that occurs after a competitor has been found, and would be the time to delve further into filling up those aforementioned “Holes”. Surveys and other viewing information that regards any of the audience profile information or any specific qualitative information is an excellent start for any media product, allowing the user to see which competitor has excelled within its produce and which has fell flat. Comparisons can then be made to either follow a trend or try to not make the mistakes of another production.
Advertising is then a key aspect to how your product is permitted into the outside world of business and media, if the previous research steps have been followed, the product should have a clear audience and you would then typically want to find ways as to how to place this product into the world. Focus groups are a good way of testing different ideas and reactions for different attempts at advertising, making full use of any trends or unique aspects that might make the products advertisement float above the rest. A few iconic advertisements are the “Dancing Robot Car”, which took the industry by storm as one of the most unique and entertaining car adverts there ever was, the response was enormous. Simply due to the fact that not only are car adverts generically bland, but they are also deemed to be ignored most of the time, because a majority of people are not looking to buy a car. However, sometimes advertisement is not done in an attempt to display a certain product, but sometimes to stick within the minds of someone as a genre or production company. The use of pictures, symbols and colours are also an integral part to effectively creating advertisement, and should always be further focused if perfection is desired.