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Oct 31, 2008

Information is Power

Research is one of the most important components of a marketing strategy. Through market research, you may find useful market information and resources.

In other words, information is power. But, if you want to make more sense of it – learn how to turn information into useful knowledge.

Although information have been thoroughly collected and analyzed by market researchers, it faces greater difficulty when the results are in. That is, the client will often query to what extent the results will actually be used?

Hence market researchers should produce value from the data they already have! The first step in using data as an asset is to understand exactly what data you have, and eventually convey the key data together.

Therefore, at the initial stage in the research process, discussions with the client about the business or marketing objectives; and how the results will be used is very important. This will help to enrich data into valuable information and finally an insightful knowledge for the client.

Often enough, our clients simply want positive results. Unfortunately, research findings don’t always get good results! This of course would ruin the client’s overall marketing planning strategy. Yet, negative data is important findings as well!

In actual sense, both – positive and negative – data will provide informative guidelines to help you make a good decision, and select the right marketing strategy for your company needs.

For this reason it is important to be open minded to new information found in the research findings. Also, both client and market researchers must ultimately understand the exact objectives and expectations of the research project.

You can achieve competitive advantage from research process. Let us know you company needs, and we’ll offer fully customizable surveys that generate data, information and knowledge – for you.

Maria Azlan
Chief Operating Officer
BMI Research (Malaysia)