Marketing research for better decision-making

The purpose of market research or marketing research (the two terms mean much the same thing) is to obtain information that will reduce the levels of uncertainty and risk that inevitably accompany important business decisions.

An effective marketing strategy is based on good knowledge and understanding of customers and competitors. Resources put into, for example, marketing communications or product development will be better investments if

• they are guided by relevant and accurate information
• their effects are evaluated for learning and improvement.

Often, a relatively small and inexpensive research project can make everyone involved understand and feel much more comfortable with the risk associated with a difficult decision.

If you are wrestling with a tough decision on something you don't feel you know enough about, consider contacting Gordon Morrison for some advice on whether and how marketing research could help.

How marketing consultancy adds value

The keys to using marketing research effectively are

• accurately defining the business issue
  
• writing a clear brief for the work to be done
• choosing the right research method
• applying the findings to the business problem

These are areas where a degree of experience and knowledge can make a big difference to the outcome, and working with a consultant is often a wise approach.

Marketing communications example

Developing and maintaining the strong customer relationships that will sustain your business and its profitability demands a regular flow of information from customers to ensure that what you offer and deliver to them is what they want. Research can be a key part of that.

Marketing Thinking from GCM Marketing Ltd. provides consultancy, advice and practical help with marketing analysis, marketing research, business and marketing strategy, marketing plans, marketing communications, brands & positioning, from a base in Scotland. Copyright © 2004, 2005,2006.