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    2 Replies Latest reply on Jun 9, 2019 2:56 AM by harrys56431

    Are you Doing Marketing Research for the Right Reasons?

    Analysight Newbie

      Companies that fail to define their business problem or conduct unnecessary marketing research ultimately end up doing marketing research for the wrong reasons. You will know if your company is performing marketing research for the wrong reasons if you ask why it's being done and you hear any of the following:


      "We've always done this research." (The research has taken on a life of its own; this particular project has continued for years and nobody questioned whether it was still relevant.)


      "Everyone's doing this research." (Their competitors are doing it, and they're afraid they'll lose competitive advantage if they don't; yet no one asks what value the research is creating.)


      "The findings are nice to know." (Great - spend a lot of money to create a wealth of useless information! If the information is nice to know, but you can't do anything with it, you're wasting money.)


      "If our strategy fails, having done the research will show that we made our best educated guess." (They're covering their butts. If things go wrong, they can blame the findings, or the researcher. But if the research process was flawed from the get-go, they didn't make their best educated guess after all.)


      "We need to study the problem thoroughly before we decide on a course of action." (They're afraid of making a tough decision. Conducting marketing research is a good way to delay the inevitable. In the meantime, the problem gets bigger, or the window of opportunity closes. How much is "thoroughly?" How much information do you need?)


      "The research will show that our latest ad campaign was effective." (They're using marketing research to justify past decisions. Rarely should marketing research be done after the fact. Research mechanisms should be proactive; they should be built into all marketing efforts so that their success can be tracked objectively and thoroughly as they progress.)


      The Right Reasons for Doing Marketing Research


      You know you're doing marketing research for the right reasons when:

      1. It enables you to make strategic decisions about your product, pricing, promotion, or positioning;
      2. It gives you necessary information you cannot get from any other source, so that you can make a critical decision;
      3. It helps you attack the root problem of the symptoms your company is experiencing; and
      4. It leads you to a course of action resulting in significant, positive outcomes for your company.

      Alex J. Caffarini
      President, Analysights LLC