Role of market research is ensure that the company obtains timely insights about the market, the various personas and their needs, by conducting qualitative, quantitative surveys and desktop research.
Provides essential market insights on:
- Personas / Customer segmentation
- Customer Needs and Preferences
- Customer Experience and satisfaction
- Gaps in offering
- Pricing feedback
- Competitive landscape
- Differentiation
- Communication
Lack of alignment with market research results in both teams duplicating each others’ work.
- CVM must incorporate market insights into CVM initiatives by creating new campaigns, adjusting segmentations, tailoring pricing, etc.
- CVM can share insights and trends obtained from current customer base analysis on personas, needs/jobs-to-be-done with the market research team
- Formulates requests for market research projects
- Provides customer base insights that shape market research design, hypotheses
Market Research ↔︎ CVM functions must establish a close collaboration and information sharing processes, so that both functions would have a shared understanding of customer behaviors, needs and market trends.
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