Understanding the market and what drives it is key to building a successful business and product roadmap. It’s not enough to just conduct a survey or talk to a few customers; instead, this kind of deep knowledge requires a custom and complex series of research efforts that all build towards actionable insights. It starts with foundational knowledge around the trends, competitive landscape, decision-makers and end-users, funding, and legislative landscape. From there, qualitative research sharpens the understanding of market dynamics and fills in the important color and nuances. Finishing the foundational research with a complex and data-rich quantitative survey creates the essential confidence that business decisions are thorough and evidence-backed.
What we did.
Loyola Press engaged with MMS to conduct various research efforts:
- An environmental market scan, competitive analysis, and customer research to gather insights about trends in the K-12 language arts market, the competitive landscape, funding challenges, and decision-maker personas.
- One-on-one interviews with stakeholders and experts in the supplemental ELA market to provide deep perspectives on the ELA market and project goals.
- An asynchronous online bulletin board focus group with customers and non-customers led by an experienced moderator to explore brand perceptions, barriers and opportunities in the public-school market, product insights, competitive comparisons, and the buying process.
- A quantitative survey including various segments such as customers and non customers, decision-makers, and educators, to develop market intelligence that builds on the qualitative insights.
- A comprehensive report to compile and to connect all the research components into a single, digestible report with key findings and recommendations.
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Outcomes
As a result of the research conducted by MMS, Loyola Press was able to:
- Engage with their leadership teams across business functions to demonstrate the importance of using research to guide and inform decisions.
- Develop a deep internal knowledge base of the K-12 ELA market to inform the multi-year strategic plans for sales and marketing, product development, and editorial teams.
- Understand the competitive landscape and identify areas of strength, weakness, and similarity among competitors.
- Identify areas of priority on which to focus their valuable resources.
- Connect research insights to sales and marketing opportunities.