Market Research and Data Collection for Product Testing
Description
The Affinity Project is a well-being initiative offering a year-long coaching and mentoring programme for young adults. The programme guides participants through self-awareness, capability identification, mentorship on emerging responsibilities and practical implementation to support their transition into adulthood.
Challenge:
To ensure the programme meets the evolving needs of young adults, The Affinity Project must understand their behaviours, expectations, and pain points before a full-scale launch.
Objective:
- Identify the most relevant segmentation criteria (demographic, psychographic, behavioural).
- Conduct primary research (survey) to capture insights on:
- Current challenges faced by young adults
- Interest in coaching/mentorship programs
- Register their interest for optional interview
Deliverable(s):
- Segmentation Framework: Key segments based on business context, data, and your own insights
- Survey Data & Report: Summary of insights from primary data
Guidance for Students Taking On This Project
If you’re planning to submit a proposal for this project, here are some pointers to help you secure this project and deliver well.
2. Useful Academic Frameworks
The main framework for this project is Kotler's STP (Segmentation, Targeting, and Positioning). However, the objective clarifies that the focus is on segmentation and identifying relevant criteria.
This literature review could be helpful:
The basis of Market Segmentation: A Critical Review of the Literature
Note: You can upload this paper and other relevant ones to NotebookLM and listen to the podcast-style description, so that you'll gain a high-level insight about the topic.
Keep in mind: The client will help you with identification as well.
Kotler, P. and Keller, K.L. 2022. Marketing management. Sixteenth edition / Philip Kotler, Kevin Lane Keller, Alexander Chernev. Harlow, England: Pearson.
Goyat, S. 2011. The basis of market segmentation. European Journal of Business and Management. 3(9), pp.45-55.
Useful Data Sources
Data sources like Statista and Passport (EuroMonitor) have collected extensive surveys of customer behaviour. These data can help you identify the size of the segments (or even suggest a segmentation criterion).
- Passport (Survey Data - in lifestyle, well-being, screen time)
Survey Channels (suggestions)
Primary data collection could be a challenging part of market research. Fortunately, the target audience is 18-25 (like yourself). Hence, you have the best channels for collecting data. Here are some ideas:
- University Campus
- Your cohort
- Group Chats and Societies
- We will introduce additional online sources as you start the project.
Next Step
Prepare a short proposal (Project Proposal Guide) outlining your strategy to tackle this project. Your proposal helps you secure a place and a scholarship.
Video
Interested in this project?
51 days left to apply
