This business lecture focused on market research and how we can craft our research to discover the most about who our products would be aimed at. Primary and secondary research are the two types of research. Secondary been the easiest to gather as you look at previous sources. However Primary involves you generating your own questions which can sometimes be very costly , having to hire people to collect the research and other staff to process the information into a readable from can be very time consuming too.
Consumers are identified by using Market segmentation , this is breaking the market into distinctive segments such as: Age , Sex, Social Class, Geography, Hobbies and interest. successful segmentations are Measurable , Accessible , Substantial and Meaningful to the designer. this ensures successful targeting.
One of the most interesting things that i was shown this lecture is the ACORN classification chart, this chart classifies social class using the alphabet. This chart gave me an accurate description of social classes and what to look for when designing to a markets requirement. what shocked me the most is how many classifications there is in the world.
