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Research with Caution

By Nathan, Monday, 10 November 2008

In order to stay current on market research, I am continually reading new books on the subject. As of late, though, I've been going back to the basics with "The Market Research Toolbox" by Edward McQuarrie. With regard to planning market research, McQuarrie offers three cautions:

1. Do not fund market research in a reactive mode.
2. Do not fixate on a favorite market research tool.
3. Do not assume that one tool or one research study will be enough.

This is great advice. Organizations should think through their research efforts strategically; research shouldn't be used as a knee-jerk reaction to the minor bumps in the road that affect every brand.  

When conducting research, the best results are found using a comprehensive approach. This requires more than surveys or focus groups, interviews or secondary research.

Finally, research should be viewed as a dynamic process. A study can be very informative, but it's informative for that point in time. At Grand & Weller, we use a variety of advanced research tools that yield valuable information and insights that will help your brand in the short- and long-term. From qualitative to quantitative, the subjective to the statistically significant, we start each project by establishing a firm foundation for strategic planning.