Why Market Research Matters

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Live Tweet #MAMRA2015 Made possible through the generous support of our sponsors 2015 SPRING SYMPOSIUM Welcome to the

Transcript of Why Market Research Matters

Page 1: Why Market Research Matters

Live Tweet #MAMRA2015

Made possible through the generous support of our sponsors

2015

SPRING SYMPOSIUM

Welcome to the

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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?

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Why smart research is instrumental to successful executives/marketers….

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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.

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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.

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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.

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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.

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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…

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