Exploring the Coolhunting Market Research in Sri Lankan Perspective

Abstract

Coolhunting is a market research methodology that seeks to predict future trends; the term refers specially to marketing aimed at teenagers and the fashion world. Cool hunters utilize both overt and covert methodologies. This research style is most common among teenagers due to this demographic's perceived need for more response to direct and targeted advertising. In Sri Lanka, the study is based on the available relevant literature and findings and the experiences the researchers gained in their daily lives. The qualitative information of this study is analyzed through the interpretive phenomenological analysis (IPA) method. Some coolhunters make themselves entrepreneurs in emerging businesses. Sri Lankan marketers and market researchers need to become more familiar with the coolhunting methodology, and market researchers in Sri Lanka widely use quantitative research methodologies in most circumstances. Instead of hitting the streets and looking for the next trend, brands can now leverage a virtual method, which can be more brutally honest, unfiltered, and real. This method has no boundaries, borders, or walls to gather intelligence on street trends. Further, in the Sri Lankan context, cultural intermediaries play a major role than the cultural producers and consumers regarding coolhunting. Therefore, acquiring knowledge about this research methodology is also essential for Sri Lankan Market Researchers.