Strategic Market Research (Chapter 1): What’s Wrong with Traditional Market Research?

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What determines whether market research makes a difference for an organization? The difference is the approach. Strategic market research is an approach that makes a large impact on the companies that use it. In Strategic Market Research, author Anne Beall shares her unique approach for conducting market research. In addition to talking about qualitative as well as quantitative research, Strategic Market Research provides real-life examples of how these concepts have been applied in businesses and non-profit organizations. Implementing the strategic approach from the beginning to the end of a project provides information that inspires and changes organizations.

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Strategic Market Research (Chapter 1): What’s Wrong with Traditional Market Research?

  1. 1. Strategic Market Research by Dr. Anne E. Beall Prepared by Matthew A. Gilbert, MBA Chapter 1: What’s Wrong with Traditional Market Research?
  2. 2. Introduction <ul><li>Since 1988 typical growth of 8% annually </li></ul><ul><li>Low of 4% in 2002 to high of 13% in 1997 </li></ul><ul><li>2006 Spending: $8.1 Billion </li></ul><ul><li>Common Complaints: </li></ul><ul><ul><li>Don’t get best value for the money </li></ul></ul><ul><ul><li>Don’t get tremendous insights </li></ul></ul><ul><ul><li>Don’t get information that helps with strategic decisions </li></ul></ul><ul><ul><li>Don’t get anything more than what they already know </li></ul></ul><ul><ul><li>Don’t get accurate information about the desired topic </li></ul></ul>
  3. 3. Introduction <ul><li>The Problem: How market research is designed, executed and analyzed. </li></ul><ul><ul><li>Focused on gathering of information for its own sake </li></ul></ul><ul><ul><li>Not inspired, doesn’t help make competitive decisions </li></ul></ul>
  4. 4. The Strategic Approach <ul><li>Identify strategic questions that will help a business </li></ul><ul><li>Use right research techniques to answer questions </li></ul><ul><li>Obtain the level of depth required to have insight </li></ul><ul><li>Read nonverbal communication of respondents </li></ul><ul><li>Identify emotional aspects of human behavior </li></ul><ul><li>Use statistical analysis to know what drives markets </li></ul><ul><li>Go beyond data to interpret results and recommend </li></ul>
  5. 5. How the Book is Organized <ul><li>Chapter 1: What’s Wrong with Traditional Market Research? </li></ul><ul><li>Chapter 2: The Strategic-Question Approach to Market Research </li></ul><ul><li>Chapter 3: Choosing the Right Method </li></ul><ul><li>Chapter 4: Obtaining the Depth Required for Insight </li></ul><ul><li>Chapter 5: Reading the Hidden Communications of Research Respondents </li></ul>
  6. 6. How the Book is Organized <ul><li>Chapter 6: Getting to the Heart of Respondent’s Emotions </li></ul><ul><li>Chapter 7: Analyzing Numeric Data to Determine What Drives Markets </li></ul><ul><li>Chapter 8: Interpreting Results and Going Beyond the Data </li></ul><ul><li>Chapter 9: Common Pitfalls in Marketing Research </li></ul>

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