Market research techniques encompass a diverse range of strategies from surveys to advanced analytics like A/B testing, each tailored to explore different facets of consumer behavior, market trends, and competitive dynamics. Using these technique cards provides a structured approach to identifying and leveraging opportunities, optimizing product development, and ensuring strategic alignment across all stages of the product lifecycle.

A/B Testing, also known as split testing, is a method where two versions of a variable (such as a web page, product feature, or advertisement) are compared to determine which one performs better in terms of a given metric, typically conversion rates or user engagement.

Trendspotting involves identifying and analyzing emerging patterns or shifts in consumer behavior, technology, or the broader economic and cultural environment. This technique helps businesses anticipate market developments and align their strategies to capitalize on future trends.

Market Segmentation involves dividing a broader market into smaller segments of consumers who have similar needs, behaviors, or demographic profiles. This technique helps businesses tailor their marketing strategies and product offerings to meet the specific needs of each segment more effectively.

Scenario Planning is a strategic planning method that uses storytelling to explore and prepare for multiple potential futures. Businesses use this technique to imagine various scenarios based on different combinations of environmental, economic, technological, and social variables to assess potential risks and opportunities.

Market Sizing involves estimating the potential size of a market either in volume (units) or value (revenue) to assess the feasibility of entering a new market or expanding within an existing one. It helps businesses understand the scale of opportunity and inform resource allocation.

PEST Analysis is a framework used to assess external macro-environmental factors that could impact the business. It examines Political, Economic, Social, and Technological factors to better understand the broader business landscape and guide strategic decision-making.