Market Research in the Youth Markets

I recently visited a thread on linkedIn pertaining to "cool" in relation to market research.
It was very interesting and one of the biggest things I noticed was how different each person's view of "cool" truly is.

Depending on many different psychological traits, we all have a different view of what is appealing, hip, cool or trendy. This directly applies to market research and its effectiveness. Many companies set out to target the youth markets - the ultimate judges of cool - and often fail due to approach.

It is very hard to capture the essence of the youth market and their wants through traditional market research approaches. Today's consumers are very intelligent and very in touch with up to date technology that enables them to find information readily. Due to this, market researchers must adapt their approach and even the "look" of their business. It is no longer effective to have a teacher looking figure walk in and throw around current lingo. Today's teens and young adults want authenticity and the ability to really connect with the researcher.

Whether it is your methodology or even the moderator, every aspect of your project must match the target respondent group. Think of new ways to connect and implement innovative technology into your research. Your respondents will most likely be familiar with the approach and feel very comfortable offering up their insights in this new comfortable setting which resembles their everyday interactions.

This application applies to more than just the youth research industry.

The ease and availability of having a website today is a double-edged sword.
Does your website truly promote your work?
Today, Jr. high school students are learning to program, and "flash" is no longer the mystical unicorn it once was. So, take advantage of the readily available designers all around you and make your website work for you.

Countless times have I crossed paths with url's that make no sense or have no purpose. Behind these electronic doors are websites that still manage to be "flat" and bland. Don't forget, this is often one of the first impressions that new clients will have of your company. As a good friend of mine says, "It's ok to show some personality." Don't be afraid to ask for help or push the limits.

As a business owner, you strive to not be "stuck in the middle" so why should your website? leave a lasting impression that matches the quality of your work!

Video Self-Ethnography is growing in popularity, and there are plenty of tools that can make your project interesting and valuable to your clients.

Flip video cameras go for about $120 and can hold about an hour of video. Perfect for a home video journal. Respondents can use these cameras very easily and the videos can be uploaded or sent you you electronically. You can even use the video camera as the incentive.

There are plenty of applications for these types of projects and I truly believe this will become very standard in the MR world.

I read something that was said in passing but it really stuck with me. Today's consumers are focused on their wants. I know this is obvious, but the majority of consumers have their needs generally satisfied.

The avg. consumer that is out at the mall shopping is not worried about their needs in terms of food, shelter etc. So, as marketers and specifically market researchers, we need to focus on creating "wants" that turn into "needs". For example: Cell phones, computers, cars (can be considered a true need), sodas, snack foods....I could go on forever.

Companies have become very successful in capturing consumer wants and making solutions so readily available that if removed, causes extreme upset in daily living. Just think about the last time you left your cell phone and had to go without for a few hours.

During times like the present, it is even more important that companies allocate sufficient resources to finding true solutions through market research. Consumers are beginning and will continue to become more and more picky about where they spend their discretionary income. Companies who know their markets and consumers better than their competitors will win.

Remember it's a zero sum game! If they are buying from someone else, they probably are not buying as much from you!

Do you Twitter?
Are you LinkedIn?
What's your Squidoo lens?

All valid and pertinent questions for today's market researcher. The youth market is readily in sync with these valuable social tools and so should you if you expect to relate to or interact with them in successful ways.

Youth today are connected through a countless number of online social networks, and obtain their information sources through even larger networks of info-sharing.
It is no longer just about facebook, myspace, wikipedia and simple blogs. The market researcher should not only be aware of these "new" sources and connection points, but be fully engaged in utilizing them everyday.

Not to mention their value if implemented in innovative methodologies for your next market research project!

Any interesting ideas?