Market Research Articles
Sound judgement needs sound information
For any emerging problem or opportunity faced by a business, showing sound judgement and making the best decision is heavily reliant on having sound information. Whether it is living up to the statement of “knowing your customer”, assessing the attractiveness of a market, or establishing your core brand values, all these decisions require a degree of high end analysis which means the need for quality data. Employing market research that can be tailored specifically to help address the ambiguity surrounding the decision on whether to act on a problem or opportunity is one effective method where information can provide much needed guidance.
Market Research and Telemarketing – Maintaining the Great Divide
The success of Market Research depends on maintaining the divide between Market Research and Telemarketing. Most people being interviewed will baulk at even the slightest sense of some kind of hard sell being put to them, particularly given the poor reputation of international Telemarketing companies who make repeated unsolicited calls during the family dinner. This has the potential to discourage participation in Market Research when people are not made completely aware of the difference between the two. Willing participation of the public is critical for the success of a Market Research project, which in turn depends on the respondent’s confidence that the research is carried out with integrity, objectivity and for the purpose stated. As such, Market Research needs to commit to high standards and keep well away from Telemarketing to maintain and grow public response rates to Market Research surveys.
Market Research: When to do what?
Contemplating market research before careful consideration of what you really want to understand leads to research that doesn’t answer the question at hand, an unfortunate (and expensive!) mistake. The type of research done should be dependent on the information you are seeking; the method of getting this information can vary depending on the nature of the survey population, client budget, ease of administration and the like. By definition, a research type refers to the purpose of the research, whereas a research method is the mechanism for undertaking the research. Market research consists of mainly three types – exploratory, descriptive and explanatory – all of which are appropriate for differing purposes and situations.
Branding from the Inside
Think of marketing or branding and you could be forgiven if you thought this encompassed a primary focus upon sales, the brand’s position, or even the customer. Just as critical and often omitted in this equation are employees, your brand’s ambassadors and the very people who carry the brand to make it meaningful to the customer.
In the midst of marketing executives developing brand campaigns, we wonder how this crucial element has been so often overlooked by most companies. Ask any group of employees and many will readily admit they don’t actually believe in their brand, feel disengaged or even quite hostile towards it, or the company. By building an employer brand your internal teams are given a powerful emotional connection to the products, services and the company.