Posts Tagged market research
A few weeks ago I was in Chicago wandering through the water tower shopping plaza with my family. Foot traffic was light to moderate with the exception of two stores.
The Lego Store – Looking beyond the life-sized Darth Vader, the store was standing room only. At the pinnacle of co-branding from Starwars to Cars to Toy Story, there is no end in sight to Lego’s product evolution. All the while you could argue the fundamental product hasn’t changed or evolved since inception. More importantly people love it. My kid loves Starwars and he loves Legos (I know, apple…tree). Together, they’re a co-branding force (no pun intended).
The American Girl – I’ll admit I’d never heard of this brand until a few weeks ago. But just about every little girl below the age of 10 was carrying around an American Girl doll. I didn’t think much of it until my wife pointed out The American Girl’s store front. In it was a packed floor of girls and their moms. Of course the dads were all huddled to the side staring into their smartphones, no doubt reading ESPN to compensate for a general lack of testosterone… but you get the picture.
Now I’m not sure how much market research these organizations invested in (I’m sure they did enough) but clearly these two companies have their target audience hanging on every word. More importantly, whether or not they did any market research is completely irrelevant. My point is that these concepts just make sense. And sometimes that’s all it takes; finding whatever it is that excites us as a user. Case in point the movie clip below, from one of my favorite movies growing up…
Walking through through both of the stores mentioned above, I was reminded of this scene from the movie “Big”. It serves as an important reminder not to get caught up in nailing down all the facts and figures. Forget for a moment the conjoint. Forget the exact market size.
Does the idea make sense?
Clearly, the idea of a Transformers skyscraper made little sense what-so-ever. But, two of the coolest innovations of all time, Legos and Starwars make perfect sense. Dare I say like chocolate and peanut butter. And while I’m not exactly the most female savvy consumer, a customize-able doll that little girls can carry around and build as a reflection of themselves, something they can actually create – that too, makes sense.
I’ll end with this thought. We all (myself included) need to do a better job of embracing our inner child. Embrace that impulse to just run out and do something if it makes sense; to let ourselves get excited about an idea, not about a market size; to get passionate about creating something, not selling something. You just may find yourself on the verge of something big.