Category: Chapter 4 – Market Research Essentials

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Flavors & Layers: Lessons from Lay’s

From fat-free chips to flavor contests, market research has both failed and supported the well-known potato chip brand, Lay’s, in their product development process. The Wow! “healthy” chip disaster shows that promising market tests don’t always spell success. Crowdsourcing campaigns, while beneficial for increasing customer engagement and boosting short-term revenue streams, can provide inaccurate insight into long-term consumer preferences. This year, Lay’s has released a new product line, Lay’s Layers, but only in two flavors presumably as a large-scale market test for their brand-new chip design.

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Curiosity Marketing: What You Don’t Know Will Kill You

Curiosity marketing is related to scarcity marketing. It’s about leaving your audience wanting more – so much so that they perform a desired action. That action might be signing up for a newsletter, clicking a link to view your content, or even making a purchase. Marketers create curiosity in their audiences by creating a gap between what consumers know and what they want to know. They do this by providing information in small bits to maintain interest.

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Don’t Forget to Like and Subscribe

It doesn’t matter if you’re interested in fantasy football, economics, true crime, girl power, or wine varietals – if you have an interest in it, there’s probably a podcast about it. It is perhaps their niche nature that makes podcasts such a great opportunity for marketers. All of the work put into selecting a target audience and researching the best ways to reach them – podcasters do it for you.