Saturday, January 31, 2009

Market Research



http://www.pbs.org/wgbh/pages/frontline/video/flv/generic.html?s=frol02p70&continuous=1

This is a link to a very interesting Frontline video. They did a series on "Hunting for Cool" that's about research on the teen market. Getting young adults to respond to advertisements in a positive way is much harder than any other market. For this reason, market researchers must dig deeper, and use different tactics. One way to get direct responses from teens is to hold focus groups and pay the participants. Even then, however, the nature of a teen is to be unresponsive and vague. "Cool Hunting" is something that is becoming popular. Market researchers go out in to the streets and photograph and interview teens that are outside and ahead of the curve. They then compile this information and sell it to large business who then use it as the basis for their advertisements. Spending more money on figuring out what teens want pays off in the end for companies, which is why they continue to do it.

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