Marketing

MARKETING RESEARCH/SURVEY CAN GO WRONG…YES!

Sachin Suman

WHY MARKETING NEEDS RESEARCH?!

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In God we trust, all other must bring data (W. E. Deming) MR needs to provide management with relevant, accurate, reliable, valid, and current information  To enable management to take strategic and tactical decision Approaches M-researchers can take  Target Market  Consumer MR  B2B MR  Methodical Approach  Qualitative MR  Quantitative MR

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But most people see the future as more of the same: faster computers, better cars, more TV channels. They can't see the big picture - how life itself will change.

CLASSICAL EXAMPLES FOR FAILURES

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In the mid 1990s airlines such as British Airways asked business fliers what they wanted and they said good food and wine, comfortable seats, more video choices and personal screens. Hardly anyone mentioned data sockets on satellite phones, and even fewer asked for power supplies in arm rests so they could use PCs without clusters of spare batteries. Now these things are regarded as number one essentials for any world class airline - but it's too late. They won't be widely available on BA flights until well into the next millennium. Another example where market research got the future wrong is banking. In 1996 most CEOs of large banks dismissed the Internet as an irrelevance, a plaything of enthusiasts with no real impact on future profitability. Market research strongly confirmed their skepticism. The overwhelming majority of customers said they weren't interested in using the Internet to run their bank accounts Indian elections 2004 – NDA is going to sweep the elections

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We know the results!

SO, WHAT’S THE ANSWER?

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The next decade will see mega-shifts as we turn our backs on a previous decade’s values, as well as on a whole century and a millennium. Every decade has its character, music, fashion, architecture and culture. Survivors will be future-thinkers: companies that see six...