What are the areas where Six Sigma can be used in Market Research.

How can Six Sigma help in Market Research?

Dear Rajiv,

When you carry out market research, you have an objective. Can you give an example of market research objectives that you work with so that I can present some examples which are suitable to your situation?

Regards, 

VK

There are various types of projects in MR. To name a few we have...

Corporate Image studies, Customer Satisfaction Surveys,  Feasibility Studies, Usage & Attitude Studies....

with regards

Rajiv

In various area you can apply Six sigma in Market research e.g. New credit card you want to lauch in specific region, New refrigerator want to lauch, New service want to introduce

 

Regards

Mahish

Could you please elaborate how to use the same, may be some example if possible.

How do I use the same in existing MRwhere we are doing CSAT. of U&A

regards

Rajiv

 

you can even think of using reference data effectively in MR. Improving the effectiveness in reference data would improve the overall quality of MR.

Market Research is an integral part of many large Six Sigma projects. It is so because gathering Voice of Customer is a key requirement. A Market Research professional can contribute in large Lean Six Sigma projects by providing inputs for new product development (DMADV roadmap). Market research professionals can also take end to end marketing improvement projects using DMAIC methodology.

 

Lean Six Sigma methods form an integral part of data driven decision making. Market research makes use of customer data for sense making, decision making and policy making. A Market Research professional can look forward to participation in cross functional projects (the kind of profile that product managers normally handle).  

generally, Voice of customer and Quality function deployment tools (house of quality , pugh matrix ) can help in market research...

The result of Market Research is a lot of Data that needs to be interpreted so as to translate into a suitable business process improvement. Six Sigma equips you with the tools and techniques that can help you identify the problems and take combative measures. 

 

The statistical tools like Fishbone Diagram, FMEA and QFD etc facilitate market study, competitor analysis and consumer attitude. Data, once interpreted properly can lead to effective decisions that can have constructive business implications.