Question

Topic: Customer Behavior

How To Get Ahead Of The Next 'trend'

Posted by Anonymous on 7/28/2006 at 9:15 AM ET 250 Points
Clearly, best companies who do best are the ones who find a need in a specific niche and fill it with the best solution. The sooner you identify a problem and come up with a solution, the sooner you can be the 'leader' in the market.

My question is this - where do you lok for information on customer behaviours and new forming trends? Is it very niche-specific (trade journals per market) or is there a broader publication that discusses this topic. (new trends, in general). Maybe there are websites or blogs that you visit on the topic?

Your feedback is appreciated!
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RESPONSES

  • Posted on 7/28/2006 at 9:38 AM Accepted
    Asiavoss -

    It is not clear if you are looking at the B2B market or consumer, or if the country you are interested in. If you are looking at the consumer market in the US, one place to try is American Demographics:

    https://adage.com/americandemographics/

    If you are looking at the B2B market, you can start looking at the blogs of your customers, and of their customers.

    Ultimately, though, the way to get the best information is by conducting some primary market research. By "talking" directly to the customer, you can not only get an idea of what the trends are, but the reasoning behind these trends so that you can understand how to best fulfill customer needs.

    Good luck,
    Joy
  • Posted by Peter (henna gaijin) on 7/28/2006 at 11:34 AM Member
    You rarely will find new trend information (when it is really new) in trade magazines or any publications. To be on the leading (bleeding) edge of change, you need to be doing stuff that isn't talked about in trade magazines yet. By the time it gets there, it is old news.

    Many changes are made by people who work in an area and just have a vision. Some examples:

    - Maybe they have worked in an area and seen some business pain that people had, and then make a product/service to alleviate this pain. iPod is an example. MP3 players had been around for years, but never took off. Apple saw that people weren't able to sell songs because of all the different music companies wanting different things, and wrangled these companies together into iTunes, making a place where people could buy any song for a buck, opening up the industry.

    - Or they see a technology and can imagine some usage for that technology that no one else could see. I'll use Apple as an example again (no I don't work for them - just came to mind). Xerox invented the computer mouse, but didn't see a use for it, so pretty much gave it to Apple which became a key item in their computers (and shortly afterwards, in Microsoft Windows).
  • Posted on 7/28/2006 at 1:23 PM Accepted
    I'm a big believer that most innovation is derived from ideas that are already out there. There are many companies that showcase brilliant innovative ideas and others that measure consumer trends / behaviours to spark innovative ideas. One of the best sites that merges both of these worlds is https://www.trendwatching.com.

    There is also a theory that in order to get your innovative idea out to the masses, you need to first spread the idea to the right people. Read: The Tipping Point by Malcolm Gladwell. Fantastic read!

    Innovation needs to be adopted from the top down as part of your company's culture. There are many companies who have actually restructured their company to promote innovation. There was a fantastic issue of Fast Company (which, by the way, you should subscribe to if you're interested in the subject) that focused on Innovative Companies and how they adopted innovation into their daily business.

    I've done a number of workshops on trends & innovation (in my past). The internet has a wealth of info on this subject.

    Best of luck!
  • Posted on 7/29/2006 at 9:09 PM Member
    You may need to implement the "Strategy Canvas" described by Chan Kim and Renée Mauborgne in their "Blue Ocean Strategy" and other journals in Havard Business Review. This process not only allows you to look at Customer Behavior aspect but also other factors that may help forming your future strategy such as your company's value curve, competitiong, alternative industries... New strategy can be form by easy steps made in your boadroom. Goodluck.

    Mike
  • Posted by dmeyers on 7/30/2006 at 7:32 PM Member
    Along with the suggestion for "Blue Ocean Strategy" (really good read), you should think about your non-customers. Don't just spend time analyzing those that already buy your product, but look at those who don't. Blue Ocean has a lot of good info on how to do this.

    Daphne

    And if you do find that magazine "Good ideas before anyone else thinks of them..." I would like a lifetime subscription!
  • Posted by Frank Hurtte on 7/31/2006 at 12:03 PM Member
    i like to ask specific customers (who are profitable and considered the leaders of the industry).. what new technology will you be using in 3 years? 5 Years?

    often this will really open your eyes as to what opportunities will present themselves.
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