How Well Do You Know Your Market? » Mind Tools Blog

How Well Do You Know Your Market?

January 1, 2014

©GettyImages/PamelaJoeMcFarlane

Sometimes, even major brands get market research wrong. They introduce products we don’t want, they start companies we don’t care about, and they discontinue products we love.

No one wants to be the person who made “those” decisions, which is why it’s so important to develop a robust approach to marketing research. When done right, market research can save your company millions, enhance your reputation, and ensure that you’re giving your customers what they truly want.

Nigel Bradley’s Marketing Research Mix (members only) is a great tool to use when you’re planning market research. Bradley developed this four-stage model in 2004, and published it in his book, “Marketing Research.”

In our article on it, learn more about each of these stages, and find out how to design a genuinely successful research project. Click here (members only) to read it.

Question: What are some of your favorite marketing snafus? Join the discussion below!

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