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An Approach to Integrating Market Research with Customer Insights through the Development of IoT Products

Abstract Technology development is routinely seen as the solution to stay relevant, however, many organizations are unsure of exactly how to capitalize on such technology. This paper builds on current traditional market research (TMR) with deep customer insights (DCI) theory to understand how the development of a new technological solution can be supported by TMR and DCI methods. An empirical case study of an international firm developing a new product to utilize the internet of things (IoT) is investigated. This research reports on a 13 stage method, including industry and company business model analysis, mobile application analysis, cross-national company and customer interviews, co-design, and testing of prototypes methods. The results demonstrate how DCI methods enable an understanding of the opportunity a technological intervention provides, not just simply implementing it as a solution to a problem. In addition, it contributes to the emerging field of DCI methodologies by providing a practical examination of their use in the field. The paper illustrates the successful implementation of DCI methods as data collection to provide a novel approach to connect with customers to develop IoT products and services applicable to all cross-national organizations.