Can you think of the last time you were engaged in a marketing research project? If you’re like most business people, when you hear that question you’re probably thinking about some long-range, very intensive, data-gathering exercise that involved a lot of time, a lot of money and a lot of data analysis. And, yes, that is research. But we’re guessing that you are engaged in research far more frequently than you realize. Importantly, your research efforts don’t have to be full-blown initiatives that involve extensive quantitative research and analysis. Sometimes, yes–but, often, no. The trick is determining when you need to gather more information. And that comes down to two important steps: (more…)
Posts Tagged ‘marketing research’
I’m a proponent of marketing research and the use of data to drive business decisions at every level and in every aspect of organizational performance. I recognize, though, that sometimes the predictive value of research can be questionable and that it can be most useful to evaluate actual behaviors to support future decisions.
Advertising efforts are a good example of this. (more…)
There are four ways that people learn about our products and services:
1. Through their own experiences with us.
2. From their friends, family and colleagues – word of mouth.
3. Through the media – news reports, articles, etc.
4. Directly from us through our own advertising, web sites, social media, etc.
I always list these four sources of information in this order, because (more…)
Advertising campaigns are often expensive investments, particularly for small businesses with little name recognition and limited financial resources. Therefore, it is no surprise that businesses are very interested in measuring the effectiveness of their advertising efforts. Unfortunately, the task of measuring advertising effectiveness is not an easy one. (more…)
I was interviewed recently by a major business publication about common marketing research mistakes that businesses make. As someone who has been involved in marketing research – conducting research, contracting with vendors to conduct research, writing about and teaching market research courses – I was able to share a number of examples of things I’ve seen (and sometimes that I’ve done myself!). (more…)
I was recently catching up on some reading and came across an article in Fast Company that made the assertion that: “major consumer brands still have a lot to learn as social tools continue to proliferate.” The author shared some data comparing Starbucks and Dunkin’ Donuts in terms of the percentage of people who hear positive things about the brands and percentage of people who would never recommend the brands. Here’s how it shakes out: (more…)
Moving forward with communication tactics without a good understanding of the target audience, their current attitudes and beliefs and the drivers that might lead them to positive action relative to your product or service is never a good idea.
On the other hand, many companies - particularly small companies – don’t have the time or resources to invest in expensive research activities.
It’s a conundrum – but one that can be addressed (more…)