What is transport market research?

Transport market research is the process of collecting data that can be scrutinised and interpreted to inform decision making. It covers transportation systems, services, public policy and the people who use those services. This includes railways, airlines, airports, ferry services, and business networks that enable the movement of people and goods.

What are the key areas of transport market research?
For leading transport brands, this research is crucial in understanding market dynamics, improving services, and staying competitive in an ever-evolving industry. Research covers some key areas, including:

1. Accessibility studies – this kind of research often begins with accessibility assessments, which look at how easily different population segments can access and use various transport options. Researchers analyse geographic coverage of transport networks, frequency of services, affordability for different income groups, and accessibility for people with disabilities. This helps transport companies identify service gaps, so they can develop strategies to reach underserved markets.
2. Customer experience analysis – this is truly at the heart of successful transport services because it focuses on understanding the entire customer journey, from booking to arrival at the final destination. It includes how easy and efficient the booking process is, on-board comfort and amenities, service quality, reliability, overall satisfaction and likelihood to recommend.
3. Customer segmentation – helps to divide the market into distinct groups based on characteristics such as travel purpose (including business, leisure, commuting, transporting goods), frequency of travel, demographic or market factors, psychographic factors (such as lifestyle, values, preferences). Understanding these segments allows transport brands to tailor services and marketing efforts to specific customer groups or business requirements, which improves efficiency and effectiveness.
4. Proposition development and pricing – this involves analysing competitor offerings and pricing, identifying unmet needs in the market and testing new service concepts with potential customers. Research helps transport companies innovate in ways that meet market needs, while remaining competitive and profitable.
5. Stakeholder research – transport systems involve numerous stakeholders beyond customers. Comprehensive market research also considers government regulators and policymakers, local communities affected by transport infrastructure, business partners and suppliers, and employees and unions. Understanding the needs, concerns, and expectations of these stakeholders assists long-term planning and efficient operation of transport services.

Methodologies in transport market research
There are several ways that transport market researchers gather insights:

1. Quantitative surveys (online, phone, or in-person)
2. Qualitative interviews and focus groups
3. Observational studies of passenger behaviour
4. Analysis of operational data and performance metrics
5. Examination of pricing and product feature preferences
6. Social media and sentiment analysis.

What are the benefits of market research for leading transport brands?
Robust market research provides numerous benefits for transport companies. It helps inform decision-making for investment in new routes or services, which can improve customer satisfaction and loyalty due to enhanced efficiencies. This helps marketers develop more effective marketing and communication strategies, with optimised pricing and revenue management. In addition, it allows transport companies to achieve better alignment with regulatory requirements and community needs.

Summary – why is transport market research important?
Transport market research is an essential tool for leading brands in the industry. By providing deep insights into customer needs, market trends, and operational performance, it enables companies to stay competitive, improve services, and drive growth in an increasingly complex and demanding transport landscape.