Effective Use of Market Research

What guidelines to follow... 

Is research worthwhile? - Costs involved - of research and also time and resources committed - must be assed via value of information obtained. Will it influence the decision to be taken? If not don't do it! 3 key elements:-

Definition of Objectives

Quality of fieldwork - 2 aspects to be determined:-

Level of accuracy required - the larger the sample the more accurate but the more expensive. Samples are often larger than the marketing manager needs.

How good is the questionnaire - Marketing manager is "internested outsider". Can often judge if it is satisfactory - is every question needed? Are questions omitted? Is it too large? Does it flow? Etc.

The interviewers problems - Sometimes do not have the time, inclination or ability to appreciate a vital strategic question. The more the marketing manager shows he appreciates the interviewers problems the better will be the motivation to carry out the project conscientiously.

Interpretation of findings

Self help or agency - Should appreciate work and time involved. Usually agency asked to summarise key findings and conclusions. This is frequently used as a starting point for further discussion.

Debriefing must be searching - Method works well if raw data exists to provide reliable sub-data. The marketing manager should not be afraid to ask for further analysis.

Communicating the findings

Task of informing his colleagues - Human factors - over expectations - research can be complex, uncertain, remote and grey. Vested interests.

Communication methods - written reports, verbal, slides, charts.

Increasing efficiency

A valuable but expensive tool. This demands

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