Viewing and exploring through a different lens
To go beyond the statistical data and explore the underlying themes, attitudes and trends, our research initiatives often bring into play any of a number of science- and social science-based disciplines, including:
- Behavioral economics: The merging of market psychology with neoclassical economic theory to yield insights into the motivations of clients and their customers/stakeholders. (Recommended: "Predictably Irrational;" Daniel Ariely)
- Game theory: A branch of mathematics which analyzes strategic decision-making from a modeling perspective. In grasping how various ages interact, games can be designed to foresee how specific actions might unfold within the marketplace. Organizations capitalize strategically on such models by grasping how these options unfold, and can thus prepare an adjunct playbook for their plans in business, marketing, resource allocation, etc..
- Demography: In showing how certain demographic cohorts do certain things at certain points of their lives - and how, as they age, they move from one preference to another - demography points out unique new marketing opportunities for organizations. (Recommended: "Boom, Bust and Echo;" David Foot; "Passages;" Gail Sheehy)
- Environmental sciences: The use of meta analysis techniques to draw conclusions from disparate studies and data sources in order to identify a potential overarching “truth” within a particular market. The meta analysis model also relies heavily on environmental audits, in which we will walk through entire processes and organizational dynamics, physically and mentally, to identify areas for change and opportunities for growth.
- Bayesian statistics: A subset of the entire field of statistics in which the evidence of the true state of the world is expressed in terms of degrees of belief and, more specifically, in probabilities. Bayesian statistics are a powerful tool for studying such aspects as pricing and package design, and in sophisticated studies of revealed preferences and resource allocation.
- Neuroscience: Traditionally the study of the nervous system, this field is now evolving into a disciplinary science that incorporates aspects of chemistry, computer science, engineering, linguistics, mathematics, medicine, philosophy, physics, and psychology. Market researchers use neuroscientific tools to understand how the nervous system interacts with our thought processes. There has been much research undertaken to understand how specific stimuli affect how we think about products and services. We work with leaders in this field as they seek to evolve this discipline as a means of better understanding the subconscious decision-making that is so important in terms of understanding of what an organization's offerings represent in a competitive environment.
- Epidemiology: This is the study of diseases, however it has been our contention that marketing does follow a disease model. Moreover, with the evolution of Web 2.0, virility and network theory appear to be evolving models for understanding market processes. Epidemiology (and, critically, its relation to behavioural economics) establishes an experimental design approach for identifying and understanding efficiencies and opportunities based on the dynamics of markets and, in particular, the ways customers/stakeholders interact between themselves and with organizations. (Recommended: Marketing Magazine article by zinc tank president Brian F. Singh)
- Urban geography: Social and economic processes have a spacial dimension, and there are many models of spacial interaction that yield exceptional insights into the nature of one’s market. Further, urban geography, combined with survey-based and demographic research, together with emerging geo-tagged data (evolving out of social media interactions) can now offer tremendous insights in terms of location-related dynamics; these, in turn, can be mapped by geographic information systems.
* * *
Zinc tank is well-versed in the ways and means that these scientifically advanced resources can be applied to market research. If you are interested in pursuing any of these exciting opportunities, contact zinc tank president Brian F. Singh