Both for-profit and non-profit organizations wrestle with the approach to marketing themselves. Management questions emerge about whether and how to advertise, how to price products and services, what new markets are emerging, how to (re)position and take advantage of opportunities, how to retain customers, where to look for new customers or business partners, whether a new product or service will succeed and when to launch something new – the list goes on and on.
Too often, management relies on conventional wisdom or “gut” thinking rather than integrating information from market research. The right information can help focus these management questions and provide important answers. When considering whether or not to include market research, think about the following:
- What marketing or management decisions do I need to make for my organization? How much will it cost me (in time, money, or reputation) to be wrong?
- What do I already know? Do I have the data to back this up? What will I need to learn?
- What do I need to know about my competition and what they are doing that will help guide my organization?
- What should my marketing and sales strategies include in order to optimize my reach to existing and new audiences/customers?
- Once I’ve conducted research, how do I use the resulting information optimally?
Providing data to answer these questions is one of the roles of market research. Organizations want to make business and marketing decisions based on a deeper understanding of the key factors that will influence successes, so they can feel confident that their plan will reap rewards. The Melior Group can help you discover these key answers, data and influential factors, as well as provide strategic recommendations, that will help you guide your organization to greater success in the future.