Role of Market Research

The Role of Market Research

Greetings!

You know the economic news is bleak. Don't let this deter you from formalizing marketing strategies to keep your business profitable. Right now is the best time to consider research that will answer the tough questions about your business, which is facing economic indicators never before seen in your life-time. Call us for help.

Regards,

Mary M. Malaszek, Principal

Market Directions

mary@mktdirections.com

What Affects Your Business Cycle?

Consumers are changing buying habits as a result of the recession and future economic. No matter what business you are in--- you will be affected. What indicators are you tracking to determine your future marketing strategies?

Source: November 6, 2008 WSJ, At the Supermarket Checkout, Frugality Trumps Brand Loyalty.

Stock Market?
December 1, 2007--The Dow lost 679.95 points to close at about 8,149. There have only been three days in market history with bigger point losses for the Dow - the Monday after the Sept. 11 attacks, and Sept. 29 and Oct. 15 of this year.

Recession?

An officially declared recession - in progress in the United States since December 2007, according to the National Bureau of Economic Research, the nonprofit group of economists that classifies business cycles.

The Commerce Department reported in that person incomes have fell .3 percent in March and have fallen in four of the last five months.

The country has lost more than five million jobs since December 2007 and unemployment has climbed to 8.5 percent.

However, there was an increase in consumer spending in the first quarter. This increased spending was partly a result of higher tax returns and lower energy prices.

About Market Directions

Market Directions is a full service custom market research firm that helps companies to identify and clarify distinct marketplace opportunities. We are primarily focused on the functions that touch customers - - - marketing, sales, product placement and customer service.

Since 1994, we have enabled organizations, both large and small, to understand their customers in new ways. By asking the right questions and analyzing the answers, our unique, hands-on methodology enables marketing and sales executives to significantly increase sales and gain measurable competitive advantage.

In an attempt to reconcile the issues facing marketing and marketers, Market Directions has prepared this paper offering research on decision making and management that marketing managers should consider in order to adapt their profession to standards. And additionally, outlining metrics that are pertinent to marketing's effectiveness and contribution to the bottom line.

Every time someone proposes a change, ask for evidence of its efficacy. Clarify the logic behind that evidence-looking for faulty reasoning. Encourage managers to experiment with new ideas-rewarding those who learn from these efforts, even if an experiment itself fails. And insist that managers stay current in their field-and provide continuing professional education opportunities to help them do. Your reward? You and your colleagues face the hard truths about what works and what doesn't. You expose the dangerous half-truths that mar much conventional business wisdom. And you make smart decisions on the most pressing issues facing your company. Jeffrey Pfeffer and Robert I Sutton-- website: www.evidence-basedmanagement.com/index.html