Nan Su Su
Fall 2024
Market Research
Research Problem(s) Studied
The primary objective of this market research is to assess whether the "Smart Study Time Watch" will appeal to university students at IU Fort Wayne as an effective tool for managing their study schedules. Additionally, the research explores why some students favor multifunctional smartwatches, such as the Apple Watch, even when their primary need is basic time-management features.
The key questions guiding this research are:
1. Will the "Smart Study Time Watch" effectively address the time-management challenges IU Fort Wayne students face?
2. Why do some students prefer multifunctional smartwatches, like the Apple Watch, when their primary need is for time management?
Qualitative interviews with 3-6 students from IU Fort Wayne
Market research assists students in making informed decisions in the final marketing plan
Research Instrument
Interview Questions:
1. Can you describe the tools or methods you currently use to manage your study time? Follow-up: What specific features do you find most helpful in those tools?
2. How important is managing your study time to your academic success? Follow-up: What challenges have you experienced in staying on top of your study schedule?
3. Have you ever used a wearable device (e.g., smartwatch) for time management? If yes, how has it helped (or not helped) with your study routines? Follow-up: If no, is there a reason you’ve avoided using such devices?
4. Would you be interested in a product like the Smart Study Time Watch, which focuses on managing study schedules, providing customizable alarms, and sending reminders for breaks and exams? Why or why not? Follow-up: What specific features of the product would be most useful to you?
5. How important is affordability when selecting a time-management tool? Follow-up: What price range would you consider reasonable for such a device?
6. What would make you choose a specialized time-management device (like the Smart Study Time Watch) over a multifunctional device (like the Apple Watch)? Follow-up: What concerns, if any, would prevent you from purchasing or using this product?
7. How important are eco-friendly materials in your decision to purchase products?
8. Would a feature that connects you with other students preparing for the same exams or assignments (for group study) be helpful? Why or why not?
9. Are there any features that you feel would improve time-management tools or wearable devices for students like yourself?
Part Two
Summary of Results
In the course of conducting market research for the 'Smart Study Time Watch,' it became evident that the target audience of college students has two primary requisites: assistance with time management and increased awareness of mental health. Our comprehensive surveys and secondary data analysis underscored the challenge students face in balancing their academic responsibilities with their overall well-being. The findings revealed a distinct preference for tools that seamlessly integrate academic calendars, customizable study schedules, and features designed to promote regular breaks and mental health support. Additionally, the expressed interest in facilitating peer-to-peer engagement for collaborative study sessions underscores the significance of social support in fostering academic achievement.
Influence on Marketing Plan
Based on the findings, several adjustments will be made to the marketing strategy to better align the Smart Study Time Watch with student preferences. The product's affordability will be highlighted, positioning it as a budget-friendly alternative to more expensive devices like the Apple Watch. The simplicity and academic-focused features, such as customizable alarms and reminders, will be emphasized to appeal to students seeking to improve their study habits. While the watch's eco-friendliness will be mentioned, it will play a secondary role in the marketing, and the group study feature will be minimized, as most students prefer independent study.
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What I Learned from Conducting the Research
​Engaging in this research has underscored the significance of comprehending the specific pain points of the target market prior to formulating a marketing strategy. It has become apparent that, despite the presence of competitors such as the Apple Watch, products like the 'Smart Study Time Watch' can identify a niche by addressing particular, unmet needs—specifically, the fusion of academic and mental health support. Furthermore, I have acquired a deeper understanding of how primary research methods, such as surveys, can furnish direct feedback from potential users, while secondary data aids in contextualizing overarching market trends. This research endeavor has furnished invaluable insights into data collection, analysis, and the application of findings to devise a focused and efficacious marketing plan.