Why Market Research Matters
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Transcript of Why Market Research Matters
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2015
SPRING SYMPOSIUM
Welcome to the
Prospective MR Client
• Very successful…
– “At the top of their game”
• Market leader looking to expand into three markets
• Not sold on MR given their successful track record
– Why do MR if we’re already geniuses?
• What to say?
Why smart research is instrumental to successful executives/marketers….
Confirm Decisions/Initiatives
• Objective data can support a good decision or modify or reverse a bad one, in all instances supporting an organization’s efficiency, effectiveness and, ultimately, success.
• Gut can be good, but it’d better if it’s confirmed by evidence.
Uncover Surprises
• There always are surprises when studying markets.
• Although experience and intuition can be invaluable in market decisions, no person or team is omniscient in all markets.
• The right research, well-executed, can uncover the unexpected, which you can use to your advantage.
Track/Predict Market Trends
• Markets are dynamic.
• The market you know today will be different tomorrow.
• Markets change daily in size, location, attitudes, awareness and other characteristics, all of which can be benchmarked to predict future trends.
• This is a baseline requirement of nearly every sophisticated organization.
Your Secret Sauce
• Your competitors may well be gathering competitive intelligence on you and insights into your target audiences.
• Research can be part of your organization’s competitive advantage to extend a class-leading run.
Do Smart Research
• All research is not created equally.
• Some research is clairvoyant, some lesser modes/methodologies can result in misdirection.
• As with most situations in life, you need to choose the right tool for the job.
• Don’t scrimp on skill and expertise.
• Remember: garbage in…
MarketingResearch.org
June 3-5, San Diego isc.MarketingResearch.org