#4 Research Method + Market Research

Pre-research is essential when doing something for a business.
Research is important not only before but also during and after.
Today, let's develop the research skills that are essential among PM's capabilities.
The main topics are types, methods, concepts, importance, and precautions of research.

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[Part 1] The Concept of Research

1. The Importance of UX

· The rate of change is getting faster in the IT and Digital World
· The development of technology brings changes in people's behavior, and crises and opportunities coexist in it
      ▷ We need to adopt these ever-changing skills quickly and find opportunities
 

2. The Reason to Why Research is So Important

·  Startups Are Failing b/c the Lack of Research
   - #1 Lack of PMF 

source: Failory

   - #1 No Market Need (Lack of Demand)

source: CBINSIGHTS

· It is important to conduct qualitative research with a customer-oriented mindset rather than simple market research
· Research period
 

   - Prior to product development: Hypothesis verification on the problem
   - During product development: Idea research stage
    - After product development: product testing

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3. Attitudes Toward Research(Mindset)

· Searching for a ‘direction’ that can be helpful for contents or marketing planning through research
· Necessary to define ‘specific research objectives’ rather than purposes to collect general information
· Just ‘watch’ instead of asking directly to find the users’ fundamental needs (our job is to interpretate and analyze)
· Rather to not investigate than to conduct a clumsy investigation

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4. Desk Research (1st investigation)

: Basic activities of business research as well as service planning

· What to look for during desk research

· According to the purpose of market research
    - New product related: market size and growth rate, popular products, distribution of channels and price range, purchasing factors, etc.
    - Decrease or increase in sales: changes in search volume or clicks between competing brands (products) and the company, external environmental factors, substitutes, etc.
    - Marketing Strategy: Major advertising channel data, owned and earned channel data, reviews, major marketing channels
 
· Research Methods
   - DART: Accurate information about the company, analysis of the relevant field by looking at the business details in each report
   - Innovation Forest: Check analysis reports on recent issues, comparison of similar companies, traffic/consumer transaction index/transaction unit price/repurchase rate, etc.
    - National Statistical Office: Looking at the press release, it is well organized with infographics, figures, brief explanations and analysis, etc.
    - Open Survey: Trend Report
    - Naver Labs, securities company analysis, 00 association, vertical platforms, etc.
 

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5. Target Audience Research

· Necessitity
    - The contents of desk research are advance afterwards and cannot be explained 'why' (context of behavior)
    - Analysis through customer's behavior or answers is required
· What to gain from customer research
· Target research method
    - Quantitative research: survey, satisfaction survey, AB test, real user behavior such as Beusable or Hotjar, GA
    - Qualitative research: focus group interview (FGI), 1:1 in-depth interview (IDI), in-context interview(Ethonography), diary study, usability testing, think aloud
ex) Coupang’s target research (but usually IDI and UT are enough)

▷ Survey methods

· Things to be aware of during the investigation stage
    - Common and easy words and expressions, accurate vocabulary
    - Neutral questions (no leading questions)
    - Only one question at a time
    - Accurate criteria for term or opinion

▷ 1:1 interview (IDI) method
1) Establishing an intimate relationship (rappo) before the interview begins
2) Introduction of the purpose of the interview, time required, examples, consent to filming and recording, etc.
3) Self-introduction of the interviewee
4) Understanding daily life (if necessary)
5) Develop questions based on key findings related to the topic
    - Utilize open-ended questions
    - Maintain a neutral tone
    - Ask questions in a on-going way to know the context (only available at IDI)
6) Questions that require further confirmation on the questions asked above
7) End of the interview
8) Payment of honorary expenses

 

 

▶ Korean Version:

https://softwarewhere.tistory.com/8

#4 리서치 방법 +시장조사 실습 // 통계분석, DART, 설문조사, 오픈서베이