Whether you're a CEO or HR manager it’s always important to understand your customers.
You must be able to put yourself in their shoes and view your product from their point of view. Market Research helps you to achieve this with real data.
2. Marketing: 4 Management Perspectives
Market Research from a
CEO’s Perspective
Market Research is a focal point
in strategic plans
developed by a CEO.
Market Research from a
Finance Perspective
A Financial Director must use
research to evaluate
competitors and budget
allocation.
Market Research from a HR
Perspective
A Human Resource manager
carries out satisfaction
surveys periodically and this
research improves the
harmony of a workforce.
Market Research from a
CEO’s Perspective
Market Research is a focal point
in strategic plans
developed by a CEO.
3. Market Research: Be Proactive
Market Research can
provide valuable information
about new product
launches, barriers to entry,
niche market identification,
competitor analysis, market
sector trends and help make
strategic business decisions.
Strategic performance
analysis
Customer profiling
Develop a business plan for
the future
Statistical performance
analysis
New market identification
4. Marketing from a CEO Perspective
A CEO of a company would focus
on the future growthand
development of the company. It
is highly relevant for the CEO
role to make informed decisions
on an on-going basis.
Consciously or
subconsciously market
research is used on a daily
basis when making informed
decisions. Being proactive
and monitoring changes in
customer behaviour is vital.
CEO
STRATEGY
5. Marketing from a Finance Perspective
It allows Managers to stretch their
budgets, assess situations and
invest in the best solutions
possible.
For a financial director, Market
Research is about the analysis of
the market offerings in order to
make cost saving decisions.
Market Research allows you to
achieve this goal through staff
performance analysis, supplier
reviews and cost analysis.
Market Research can be the
difference between spending a lot
of money on a bad idea and
succeeding in your business.
6. Marketing from a HR and Operations
Perspective
Market Research allows a
Human Resources Manager to
access the well-being of your
employees and improvetheir
working conditions.
The analysis of this
information helps you to
access employees’
performanceand match them
to specific projects.
Ithelps us to plan ahead and
comparetrends fromyear
to year.
A company should have a
yearly employee
satisfaction survey that
collects the employees’
feedback
7. Marketing from a Marketing Coordinator
Perspective
Market Research is
the starting point for
any marketing
campaign.
In order to sell your
services or products you
need to understand the
market where you are
trading in.
Market Research
gives a Marketing
Coordinator the
information needed
to increase the
success rate of your
marketing
campaigns within
the budget and
resources allocated.
It is paramount to know about
your service, your
competitors, their pricing
structure, your buyers’
feedback and key motivators,
the entry barriers on new
markets, the performance
level of your campaigns and
the validity of your database.
It allows him/her
to identify
opportunities and
the best path to
achieve objectives
with the best
return on
investment. The
coordination of
market research is
a day to day
process whether
you are aware of it
or not.