This article may be written in a style that is too abstract to be readily understandable by general audiences. Please improve it by defining technical terminology, and by adding examples.(March 2015)
A coolhunting firm is a marketing agency whose exclusive purpose is to conduct research of the youth demographic. They then compile their data and produce reports detailing emerging and declining trends in youth culture as well as predictions for future trends. These reports are then sold to various companies whose products target the youth demographic. They also offer consulting services. Coolhunting firms often provide services for some of the largest corporations in the world.
Rather than outsourcing their market research, some companies opt for in-house youth culture marketing divisions. These divisions act in much the same way as a coolhunting firm but the reports and data collected remain within the company and are used solely to promote its products. A company will often prefer this form of coolhunting as a way to gain an advantage in the valuable youth market since the research conducted by coolhunting firms is available to anyone willing to pay for it. Viacom's MTV television network employs in-house coolhunting.[citation needed]
Methods and practicesedit
Coolhunting is more than simple market research because of the nature of the subjects. The teen and preteen market is often referred to as a "stubborn" demographic in that they do not respond as well to blatant advertising and marketing campaigns targeted at them. Coolhunters therefore must be more stealthy in their methods of gathering information and data.
Focus groups, though quite obvious in their attempts at gathering information, are very popular among coolhunters as they provide direct insight into the thoughts and feelings of their target demographic. Coolhunters will typically gather a group of randomly selected individuals from their target demographic. While one or more market researchers interact with the group, they are often being monitored and recorded by a non-visible group, because not only do coolhunters want to hear what their subjects have to say, they also want to observe their simple mannerisms.
Depending on the nature of the study, the methods of the information-gathering during a focus group interview may be extremely broad, with questions relating to lifestyle and youth culture, or more specific, like comparing certain brands and determining which brands the group is most responsive to.
Participants in focus groups are usually rewarded for their participation, whether it be a cash amount, free products, or other rewards.
Coolhunters will often seek out individuals from within their target demographic who are regarded as leaders or trendsetters. They will then hire these individuals to be Cool Narcs, who gather information secretly among their peers and report their findings back to their employers. This is a popular method of coolhunting as it provides insight into their target demographic within their natural environment.
There are a wide variety of methods for conducting market research online. Popular examples are online surveys where upon completion, the participant will usually receive a prize or monetary compensation. Other times coolhunters will enter chatrooms and webgroups posing as an individual within the target demographic and gather information.
Peter A. Gloor; Scott M. Cooper (2007). Coolhunting: Chasing Down the Next Big Thing. AMACOM Div American Management Association. ISBN978-0-8144-7386-3.
Bernard Cova; Robert Kozinets; Avi Shankar (2007). Consumer Tribes. Butterworth-Heinemann. pp. 137–139. ISBN978-0-7506-8024-0.
Nick Southgate (2003-06-22). (PDF). Proceedings of the Market Research Society Conference 2003. Archived from the original (PDF) on 2004-12-31. also printed as:
Nick Southgate. "Coolhunting with Aristotle". International Journal of Market Research Society. 45 (2): 167–189.
Russell W. Belk (2007). "You ought to be in pictures: Envisioning market research". In Naresh K. Malhotra (ed.). Review of Marketing Research. M.E. Sharpe. pp. 197–198. ISBN978-0-7656-1306-6.
Marco Pedroni. From Fashion Forecasting to Coolhunting. Prevision Models in Fashion and in Cultural Production. in J. Berry, ed. (2012). Fashion Capital: Style Economies, Cities and Cultures. Inter-disciplinary Press. pp. 97–113. ISBN9781848881433.
coolhunting, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, ci. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Coolhunting news newspapers books scholar JSTOR October 2016 Learn how and when to remove this template message This article may be written in a style that is too abstract to be readily understandable by general audiences Please improve it by defining technical terminology and by adding examples March 2015 This article includes a list of references related reading or external links but its sources remain unclear because it lacks inline citations Please help improve this article by introducing more precise citations January 2024 Learn how and when to remove this template message Learn how and when to remove this template message Coolhunting is a neologism coined in the early 1990s referring to a new kind of marketing where professionals make observations and predictions based on changes of new or existing cool cultural fads and trends Coolhunting is also referred to as trend spotting and is a subset of trend analysis Coolhunters resemble the intuitive fashion magazine editors of the 1960s such as Nancy White Harper s Bazaar 1958 1971 citation needed Coolhunters operate mostly in the world of street fashion and design but their work also blurs into that of futurists such as Faith Popcorn Contents 1 Business model 2 Methods and practices 3 See also 4 References 5 Further reading 6 External linksBusiness model editA coolhunting firm is a marketing agency whose exclusive purpose is to conduct research of the youth demographic They then compile their data and produce reports detailing emerging and declining trends in youth culture as well as predictions for future trends These reports are then sold to various companies whose products target the youth demographic They also offer consulting services Coolhunting firms often provide services for some of the largest corporations in the world Rather than outsourcing their market research some companies opt for in house youth culture marketing divisions These divisions act in much the same way as a coolhunting firm but the reports and data collected remain within the company and are used solely to promote its products A company will often prefer this form of coolhunting as a way to gain an advantage in the valuable youth market since the research conducted by coolhunting firms is available to anyone willing to pay for it Viacom s MTV television network employs in house coolhunting citation needed Methods and practices editCoolhunting is more than simple market research because of the nature of the subjects The teen and preteen market is often referred to as a stubborn demographic in that they do not respond as well to blatant advertising and marketing campaigns targeted at them Coolhunters therefore must be more stealthy in their methods of gathering information and data Focus groups though quite obvious in their attempts at gathering information are very popular among coolhunters as they provide direct insight into the thoughts and feelings of their target demographic Coolhunters will typically gather a group of randomly selected individuals from their target demographic While one or more market researchers interact with the group they are often being monitored and recorded by a non visible group because not only do coolhunters want to hear what their subjects have to say they also want to observe their simple mannerisms Depending on the nature of the study the methods of the information gathering during a focus group interview may be extremely broad with questions relating to lifestyle and youth culture or more specific like comparing certain brands and determining which brands the group is most responsive to Participants in focus groups are usually rewarded for their participation whether it be a cash amount free products or other rewards Coolhunters will often seek out individuals from within their target demographic who are regarded as leaders or trendsetters They will then hire these individuals to be Cool Narcs who gather information secretly among their peers and report their findings back to their employers This is a popular method of coolhunting as it provides insight into their target demographic within their natural environment There are a wide variety of methods for conducting market research online Popular examples are online surveys where upon completion the participant will usually receive a prize or monetary compensation Other times coolhunters will enter chatrooms and webgroups posing as an individual within the target demographic and gather information See also editConsumerism Influencer marketing Popular culture WGSNReferences editFurther reading editPeter A Gloor Scott M Cooper 2007 Coolhunting Chasing Down the Next Big Thing AMACOM Div American Management Association ISBN 978 0 8144 7386 3 Bernard Cova Robert Kozinets Avi Shankar 2007 Consumer Tribes Butterworth Heinemann pp 137 139 ISBN 978 0 7506 8024 0 Nick Southgate 2003 06 22 Coolhunting with Aristotle PDF Proceedings of the Market Research Society Conference 2003 Archived from the original PDF on 2004 12 31 also printed as Nick Southgate Coolhunting with Aristotle International Journal of Market Research Society 45 2 167 189 Russell W Belk 2007 You ought to be in pictures Envisioning market research In Naresh K Malhotra ed Review of Marketing Research M E Sharpe pp 197 198 ISBN 978 0 7656 1306 6 Marco Pedroni From Fashion Forecasting to Coolhunting Prevision Models in Fashion and in Cultural Production in J Berry ed 2012 Fashion Capital Style Economies Cities and Cultures Inter disciplinary Press pp 97 113 ISBN 9781848881433 Scott Westerfeld So YesterdayExternal links edit nbsp Look up coolhunting in Wiktionary the free dictionary PBS Frontline series The Merchants of Cool Malcolm Gladwell The Coolhunt 1997 Coolhunting com Retrieved from https en wikipedia org w index php title Coolhunting amp oldid 1217661517, wikipedia, wiki, book, books, library,
