If you’re going to start a business you NEED to understand your market. You need to be looking for a market that has a demand for a good or service.
Recently, Facebook has a movement that started by posting a cartoon of your favorite show as a kid. The following status was posted by facebook users “ Change your facebook profile picture to a cartoon from your childhood and invite your friends to do the same. Until monday there should be no human faces on facebook, but an invasion of memories. This is for violence against children…”
So what kind of information can be pulled out from this movement that can be used as free market research?
SECONDARY DATA
1) Statistics In my own friendlist I had 14.4% of them were able to change the profile pictures.
2) Demographics
a. Age range – Its easily to determine age by analyzing which cartoons was their favorite show. Compare the airing of the tv show vs an age bracket and you figure out approximately how old a user is.
b. Location – Believe it not we have a broad data in this study. We are able to figure out where the person was born. Most of the cartoons posted were U.S based. One can argue that other foreign countries had these cartoons too. Completely agreeable and this is why this makes the data a little bit inaccurate.
3) Brand Association – By analyzing which pictures of cartoons people provided, you’re able to figure out which character was most loved and which character was never used. This can lead to the knowledge of long-term markets of the cartoon character. Would you make more Mickey Mouse toys vs Pokemon?
4) Viral Marketing Research – We used the medium of social networking and it looks as this was a huge success with the campaign
5) Copy-testing – Ironic how I’m already doing this by writing the article. We can take this movement as a competitor for a future product we will be creating. Apply what we learned from the campaign and attempt to use it for upcoming products
6) Coolhunting – Shows cultural trends by predicting new or existing trends.
7) Positioning – How does the market respond to the childrens campaign vs the “I love boobies campaign”? Apparently this campaign did so much better.
There are many more ways to research the market using this campaign. I just wanted to raise awareness that by using word of mouth you can determine your target market.
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December 2nd, 2010 at 10:38 pm
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