Top 10 Errors To Avoid In Marketing Research
 

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Top 10 Errors To Avoid In Marketing Research

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This slide show describes the top ten mistakes that people want to avoid when doing marketing research. Originally written in an article by Jim Nelems, these mistakes go back 35 years. Its a bit ...

This slide show describes the top ten mistakes that people want to avoid when doing marketing research. Originally written in an article by Jim Nelems, these mistakes go back 35 years. Its a bit scary how relevant the article is today.

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Top 10 Errors To Avoid In Marketing Research Presentation Transcript

  • 1. TOP 10 ERRORS TO AVOID IN MARKETING RESEARCH Making errors in your Marketing Research is like buying an airplane ticket to Hawaii, and accidentally boarding a plane to Cleveland!
  • 2. But don’t have reservations!Relax and imagine yourselfkicking back in thisbreathtaking paradise, as youlearn how to avoid themistakes that Jim Nelems, CEOof The Marketing WorkshopInc., points out in his classicarticle "Ten Common Mistakesin Marketing Research." .
  • 3. 1 NOT DEFINING YOUR MARKETING RESEARCH OBJECTIVES……is like telling the flight attendant you want to sit right next to a crying baby!
  • 4. •Lack of clearly defined marketingobjectives is the most common mistakein marketing research.•Decide before research is done why it’sbeing done.•Will the research answer the questions it was designed to answer?
  • 5. 2 CONDUCTING INTERESTING BUT USELESS RESEARCH… …is like forgetting your sun block in the hotel room when you’re stuck at the beach!
  • 6. • Research must be conducted amongthe defined target audience.• It must answer the questions thatneed answering.• It must be more than interesting.It must be actionable.
  • 7. 3 LETTING THE QUESTIONS DO ALL THE HEAVY LIFTING… …is like taking too much luggage on a romantic weekend getaway, when you hope to never leave the hotel room!
  • 8. • The essentials of marketing researchare questions. However research is morethan JUST asking questions.• Don’t ask superficial or wrongquestions, such as why do you like brandB. The consumer often doesn’t knowwhy they buy or like something.
  • 9. 4 SIMPLIFYING RESULTS OUT OF CONTEXT… …is like being broke in Las Vegas baby!
  • 10. • Most research studies are too involvedto be reduced to a single number.• Don’t oversimplify the research to sellit or give management a conclusionwithout thought on their part.• There are usually too many factorsinvolved to make research results sosimple.
  • 11. 5 UNDER ANALYZING THE RESEARCH… …is like taking a trip to Cape Cod in January!
  • 12. • When you make conclusions from themarketing research, make sure you makeALL the conclusions that should bedrawn.• When you analyze the data make sureyou understand it and can explain it.
  • 13. 6 OVER ANALYZING THE REPORT… …is like wearing a parachute and oxygen mask on a plane!
  • 14. • Just as some research is under analyzed,much research is also over analyzed.• Advanced computer analysis is great ifit is appropriate to the project. Don’tover analyze for show or simply to getmoney for the project.
  • 15. 7 USING THE WRONG TECHNIQUE… …is like letting the locals know you are lost in a foreign land!
  • 16. • There are dozens of researchtechniques and many marketingsituations are suitable to more than onemethod. Yet many are misused.• Focus groups, for example, are usefulfor giving insight, however don’tsubstitute them for quantitativeresearch.
  • 17. 8 SELECTING THE WRONG RESEARCH FIRM… …is like going on your honeymoon when you’ve only known each other for 10 days!
  • 18. • When selecting a marketing researchcompany, while it is valid to look atcompetitive bids, the company with thelowest bid or biggest name is notnecessarily the right choice.• Look for the quality of the analyticalability and the creativity of theresearcher.
  • 19. 9 EXPECTING RESEARCH TO PROVIDE ALL THE ANSWERS… …is like expecting your luggage to arrive the same time you do!
  • 20. • Research can help solve problems thatmarketers face.• Research can reduce risk and increasethe probability of making the rightdecision.• Do not let the research make thedecision for you because there are nonresearch areas to be considered too.
  • 21. 10 VIEWING RESEARCH AS AN EXPENSE RATHER THAN AN INVESTMENT… …is like trying so hard to be frugal on your vacation that you miss all the fun!
  • 22. • Understand that research is aninvestment to help you make the rightdecisions. It can save you money, usemore effective advertising and makemarketing more efficient.• Let the research earn its place in yourbudget rather than view it as an expenseyour company cant afford.
  • 23. DON’T FALL VICTIM TO THE MOSTCOMMON MISTAKES IN MARKETING RESEARCHTravel down the right road and you will reach your destination in first class!
  • 24. Unfortunately we can’t take you to paradise……but we can help you find great marketing research. Check us out.