Recent Articles

Retail Marketing Research

29 June, 2017 Leave a comment

Retail marketing research from SBXL

In 2017, it makes sense to think that the right social media campaign will increase sales. There has never been a time like now to reach into the homes and hearts of consumers.

The catch is that companies need the right information so that they can tell consumers about their products and brands in an enticing manner. This typically involves the four Ps of marketing. These are product, price, place, and promotion. How do we know which choices we should make as retailers? Research. That’s the answer. Retailers need to understand shopping behaviour.

One traditional way of gaining insight into the customer experience is through a focus group or a questionnaire. Retail market research services asked customers what they liked, what triggered them to reach the point of purchase, take the big step and buy.

It seems like a reasonable way to approach the issue. To carry out effective brand advertising, you need to know what it is that appeals to the consumer. This is at the heart of marketing. With the right information and insights, retailers can implement the innovation and strategy that will drive their brands to the top. Where do you get this information? From the consumer. Right?

Yes. And no.

The concept makes sense, but to take a consumer’s word for what triggered or prompted the purchase is about as effective as throwing mud at a wall to see what sticks. Maybe it will stick, maybe some of it will stick, maybe none of it will stick. I’m sure you’re aware it can be expensive and time-consuming to set up a marketing program that misses the mark.

Even a successful business analysis, incorporating all the most recent insight into the impact of the global marketplace, online shopping, and social media can still miss the mark. What they miss is a true, deeper understanding of the process of basic human emotion found in what I call the ‘Lizard Brain’. If you recognise the power behind emotion, you will know how to market your company, your channel, your brand.

Marketers must understand the atavistic nature of shoppers. In spite of all the modern sophistication, we are still driven by the instinct for self-preservation. At our core is the need to survive. When we go shopping, our ancestral need for self-preservation waits in our lizard brain. Our cave dwelling ancestors liked high-calorie food because food was not always easy to come by. High calorie food helped us survive the lean days. In the grocery store, it’s human nature to look for high-fat, calorie-dense foods.

In a focus group, people can’t tell you these things. You miss powerful insight because this knowledge is found at the subconscious level. This is why retail market research can be such a challenge.

To learn more about effective retail marketing research, contact me on: 01543 255 259 or email pa@sbxl.com

Leave a Reply

Your email address will not be published. Required fields are marked *


Recent Articles