{"id":15654,"date":"2017-03-31T15:51:17","date_gmt":"2017-03-31T15:51:17","guid":{"rendered":"https:\/\/productcollective.com\/?p=15654"},"modified":"2019-06-17T04:29:08","modified_gmt":"2019-06-17T04:29:08","slug":"market-research-proper-usage-shortcuts-for-getting-the-insights-you-need","status":"publish","type":"post","link":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/","title":{"rendered":"Market Research &#8212; Proper Usage &#038; Shortcuts for Getting the Insights You Need"},"content":{"rendered":"<p>Although a product manager can buy Market Research, making sense of the insights can be more time intensive than finding the information yourself. The good news is that product managers have accessible tools available that will often yield more practical insights than would a dedicated Market Research service.<\/p>\n<p><strong>Use market research properly. <\/strong>The &#8216;problem&#8217; with Market Research is that can be at odds with what a Product Manager believes to be true. There are several ways that Product Managers can misuse Market Research when the insights don&#8217;t square up with their beliefs. These include, <a href=\"https:\/\/www.goodproductmanager.com\/2007\/02\/26\/use-market-research-properly\/\" target=\"_blank\" rel=\"noopener noreferrer\">shares Jeff Lash<\/a>;\u00a0structuring research so that there is only one outcome, ignoring contradictory parts of the research and finding other research that refutes the research that you have on the table.<\/p>\n<p><strong>How do Product Managers conduct user, market or competitive research? <\/strong>Although probably more acceptable in a startup than in a large company, there are some &#8216;quick and dirty&#8217; ways to get the insights you need.\u00a0<a href=\"https:\/\/www.quora.com\/How-do-Product-Managers-conduct-user-market-or-competitive-research\" target=\"_blank\" rel=\"noopener noreferrer\">Ellie Fields and Teresa Torres list a few<\/a> &#8212; focus groups with people found on Craigslist (need a weird person filter for this one), online surveys, usability tests for product prototypes, and customer interviews. The practice of <a href=\"https:\/\/market-by-numbers.com\/customer-development\/\" target=\"_blank\" rel=\"noopener noreferrer\">Customer Development<\/a>\u00a0can also be employed to iteratively validate problems and solutions and how they relate to specific customers (finding product\/market fit).<\/p>\n<p><strong>Doing market analysis &#8211; easy, right? <\/strong>Julie Anne Reda <a href=\"https:\/\/pragmaticmarketing.com\/resources\/doing-market-analysis-easy-right\" target=\"_blank\" rel=\"noopener noreferrer\">has outlined three methods<\/a> for product managers to conduct Market Research. The first of which many will be familiar with &#8212; the &#8216;What Framework&#8217;. This unstructured method involves the Product Manager spending time digging into research papers, blog posts and Google to build a lengthy and often misguided report. A better method is to conduct a SWOT analysis of your market which will help you understand how you are positioned with respect to your competition. However, this is only useful if you have an established product\/company to analyze. Better still is to use the &#8216;5 and 6 Forces Model&#8217; which helps you\u00a0look at key forces that shape a business strategy. This will allow you to assess things like bargaining power of customers and suppliers and the threat of new entrants and substitute products.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although a product manager can buy Market Research, making sense of the insights can be more time intensive than finding the information yourself. The good news is that product managers have accessible tools available that will often yield more practical insights than would a dedicated Market Research service. Use market research properly. The &#8216;problem&#8217; with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":15655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Research - Proper Usage &amp; Shortcuts for Getting the Insights You Need - Product Collective | Organizers of INDUSTRY: The Product Conference<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Research - Proper Usage &amp; Shortcuts for Getting the Insights You Need - Product Collective | Organizers of INDUSTRY: The Product Conference\" \/>\n<meta property=\"og:description\" content=\"Although a product manager can buy Market Research, making sense of the insights can be more time intensive than finding the information yourself. The good news is that product managers have accessible tools available that will often yield more practical insights than would a dedicated Market Research service. Use market research properly. The &#8216;problem&#8217; with [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/\" \/>\n<meta property=\"og:site_name\" content=\"Product Collective | Organizers of INDUSTRY: The Product Conference\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/productcollective\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-31T15:51:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-17T04:29:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul McAvinchey\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Paul McAvinchey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/\",\"url\":\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/\",\"name\":\"Market Research - Proper Usage & Shortcuts for Getting the Insights You Need - Product Collective | Organizers of INDUSTRY: The Product Conference\",\"isPartOf\":{\"@id\":\"https:\/\/productcollective.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg\",\"datePublished\":\"2017-03-31T15:51:17+00:00\",\"dateModified\":\"2019-06-17T04:29:08+00:00\",\"author\":{\"@id\":\"https:\/\/productcollective.com\/#\/schema\/person\/f34ceda9eb6237e864633ca033061c0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#primaryimage\",\"url\":\"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg\",\"contentUrl\":\"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg\",\"width\":600,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/productcollective.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Market Research &#8212; Proper Usage &#038; Shortcuts for Getting the Insights You Need\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/productcollective.com\/#website\",\"url\":\"https:\/\/productcollective.com\/\",\"name\":\"Product Collective | Organizers of INDUSTRY: The Product Conference\",\"description\":\"For people who build, launch and scale world-class software products.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/productcollective.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/productcollective.com\/#\/schema\/person\/f34ceda9eb6237e864633ca033061c0b\",\"name\":\"Paul McAvinchey\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/productcollective.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/productcollective.com\/wp-content\/uploads\/2020\/12\/PLnHr3Hu_400x400-150x150.jpg\",\"contentUrl\":\"https:\/\/productcollective.com\/wp-content\/uploads\/2020\/12\/PLnHr3Hu_400x400-150x150.jpg\",\"caption\":\"Paul McAvinchey\"},\"description\":\"For over 20 years, Paul has been building and collaborating on digital products with fast-growing startups and global brands, including AOL and WMS Gaming. Currently, he's a co-founder of Product Collective, a worldwide community of product people. Members collaborate on in the exclusive Member Hub, meet at INDUSTRY: The Product Conference, listen to Rocketship.fm, learn at Product Interviews and get a weekly newsletters that includes best practices in product management. In recent years he led business development at DXY, a leading product design firm in the Midwest, and product innovation at MedCity Media, a publishing startup acquired by Breaking Media in 2015.\",\"sameAs\":[\"https:\/\/twitter.com\/https:\/\/twitter.com\/yaboya\"],\"url\":\"https:\/\/productcollective.com\/author\/newindsum\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Market Research - Proper Usage & Shortcuts for Getting the Insights You Need - Product Collective | Organizers of INDUSTRY: The Product Conference","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/","og_locale":"en_US","og_type":"article","og_title":"Market Research - Proper Usage & Shortcuts for Getting the Insights You Need - Product Collective | Organizers of INDUSTRY: The Product Conference","og_description":"Although a product manager can buy Market Research, making sense of the insights can be more time intensive than finding the information yourself. The good news is that product managers have accessible tools available that will often yield more practical insights than would a dedicated Market Research service. Use market research properly. The &#8216;problem&#8217; with [&hellip;]","og_url":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/","og_site_name":"Product Collective | Organizers of INDUSTRY: The Product Conference","article_publisher":"https:\/\/www.facebook.com\/productcollective","article_published_time":"2017-03-31T15:51:17+00:00","article_modified_time":"2019-06-17T04:29:08+00:00","og_image":[{"width":600,"height":400,"url":"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg","type":"image\/jpeg"}],"author":"Paul McAvinchey","twitter_misc":{"Written by":"Paul McAvinchey","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/","url":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/","name":"Market Research - Proper Usage & Shortcuts for Getting the Insights You Need - Product Collective | Organizers of INDUSTRY: The Product Conference","isPartOf":{"@id":"https:\/\/productcollective.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#primaryimage"},"image":{"@id":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#primaryimage"},"thumbnailUrl":"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg","datePublished":"2017-03-31T15:51:17+00:00","dateModified":"2019-06-17T04:29:08+00:00","author":{"@id":"https:\/\/productcollective.com\/#\/schema\/person\/f34ceda9eb6237e864633ca033061c0b"},"breadcrumb":{"@id":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#primaryimage","url":"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg","contentUrl":"https:\/\/productcollective.com\/wp-content\/uploads\/2017\/03\/Brief-Image-Template.jpg","width":600,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/productcollective.com\/market-research-proper-usage-shortcuts-for-getting-the-insights-you-need\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/productcollective.com\/"},{"@type":"ListItem","position":2,"name":"Market Research &#8212; Proper Usage &#038; Shortcuts for Getting the Insights You Need"}]},{"@type":"WebSite","@id":"https:\/\/productcollective.com\/#website","url":"https:\/\/productcollective.com\/","name":"Product Collective | Organizers of INDUSTRY: The Product Conference","description":"For people who build, launch and scale world-class software products.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/productcollective.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/productcollective.com\/#\/schema\/person\/f34ceda9eb6237e864633ca033061c0b","name":"Paul McAvinchey","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/productcollective.com\/#\/schema\/person\/image\/","url":"https:\/\/productcollective.com\/wp-content\/uploads\/2020\/12\/PLnHr3Hu_400x400-150x150.jpg","contentUrl":"https:\/\/productcollective.com\/wp-content\/uploads\/2020\/12\/PLnHr3Hu_400x400-150x150.jpg","caption":"Paul McAvinchey"},"description":"For over 20 years, Paul has been building and collaborating on digital products with fast-growing startups and global brands, including AOL and WMS Gaming. Currently, he's a co-founder of Product Collective, a worldwide community of product people. Members collaborate on in the exclusive Member Hub, meet at INDUSTRY: The Product Conference, listen to Rocketship.fm, learn at Product Interviews and get a weekly newsletters that includes best practices in product management. In recent years he led business development at DXY, a leading product design firm in the Midwest, and product innovation at MedCity Media, a publishing startup acquired by Breaking Media in 2015.","sameAs":["https:\/\/twitter.com\/https:\/\/twitter.com\/yaboya"],"url":"https:\/\/productcollective.com\/author\/newindsum\/"}]}},"_links":{"self":[{"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/posts\/15654"}],"collection":[{"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/comments?post=15654"}],"version-history":[{"count":0,"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/posts\/15654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/media\/15655"}],"wp:attachment":[{"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/media?parent=15654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/categories?post=15654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/productcollective.com\/wp-json\/wp\/v2\/tags?post=15654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}