Posts Tagged ‘business strategy consulting’

The Essence of Business and Marketing Research

Doing business is not all about dealing with what it is about to come. You need to somehow crawl to its roots to get a long and strong grip to success. It can’t be done by just merely working with what is there, better yet, we should also work with what used to be there. What we are talking about here is the essence of business and marketing research. By doing this, you’ll get access to the most significant information that you won’t find in any random business management articles. Sometimes, these information are too concealed, but you really need to get them for your business. To do that, you have to make an intense research.

Business and marketing research is as important as your business strategy consulting. One cannot work without the other. Business research is done before and during the life of the business. It is a systematic study that includes the market, resources, strategy and other data involving the products and services. There is consumer marketing research and business to business marketing research. When it comes to methodological approach, there is qualitative marketing research and quantitative marketing research.

By having a reliable marketing research, the management will be provided with relevant, accurate, valid and timely details that can help the business in a lot of ways. If ever there is a threat occurred, it will instantly be addressed by turning to the data gathered during the research. You can’t make decisions out of adrenaline rush. Every step to be taken should be supported with relevant information. You’re not doing trial and error when doing a business, it should always trial and glory.

The role of marketing research is described as “decide”. D is for defining the marketing problem. E is for enumeration of the controllable and uncontrollable decision factors. C is to collect relevant information. I is to identify the best alternative. The second D is develop and implement a marketing plan and E is to evaluate the decision itself and the decision process.

But of course, you can get all of this done if your marketing research is poor and dull. Your team should come up first with a systematic and objective research. Each procedures to be followed should be methodologically sound, well documented, and, as much as possible, planned in advance. Marketing research uses the scientific method in that data are collected and analyzed to test prior notions or hypotheses. Another thing, your business research should be devoid of personal or political biases. It may come from one of the researcher or the whole management. This is to prevent your efforts in doing the research to get ignored. You are eying success, since you already have the right weapons, make sure that there is nothing that will block your way to the top.