Market Research in Practice: An Introduction to Gaining Greater Market Insights
The Market Research in Practice: An Introduction to Gaining Greater Market Insights, written by Julia Cutman and Matthew Harrison, provides a clear look at some common pitfalls regarding how many consultants approach Market Research in Practice.
This book covers the basics of how to conduct Market Research in Practice and provides in-depth discussions on the best types of research tools available today and potential pitfalls to avoid. These guides are designed to provide potential business owners with an analysis of the current marketplace and the best practices that can be utilized to gain an edge over their competitors.
The authors argue that most marketers focus too much on cost and too little on quality when conducting Market Research in Practice. They also point out that market research must be conducted with appropriate methods in mind. Those methods should include sampling and careful considerations on the selection of respondents for a particular study and data gathering itself.
However, the biggest pitfall to avoid when conducting market research is the danger of providing false or inaccurate information. Also, failing to conduct adequate research could have serious consequences on a company’s ability to succeed. This book rightly emphasizes the importance of gathering relevant information from all parties involved – clients, competitors, and the market itself – before formulating any marketing strategy.
The book also correctly states that the data gathered depends greatly on how the data is collected, analyzed, and made available to the right people. Marketers need to think carefully about whom they trust and how much they are willing to share their confidential information. The information gathered through market research must be properly organized, and this book provides helpful guidelines. Market Research in Practice: An Introduction to Gaining Greater Market Insights is a handy guide for anyone considering conducting market research on a client’s product or service with its clear writing style and extensive examples. This book is highly recommended to marketers and other business professionals as a perfect textbook on effective market research practices.
I also liked this book review because it holistically addresses marketing and selling. There are so many different aspects to marketing and selling that it can be easy to get caught up in just focusing on one. Market Research in Practice: An Introduction to Gaining Greater Market Insight covers all the basics and goes into more depth on ways to look at your market more holistically. It talks about not only the marketplace as a whole but also the individual consumer. So not only does the book cover the basics, but it also goes into more depth about how to do market research.
One other aspect I really liked was the way it addresses the mindset of the marketer. After all, most people do come into the business with one particular mindset. However, if you’re not careful, you can easily become part of a group of people who think and act like all the other marketers. As you might expect, this can actually lead to a disorganized and unprofessional atmosphere that makes the entire marketing process harder.
Overall, Market Research in Practice: An Introduction to Gaining Greater Market Insight covers everything you need to know to put yourself ahead of the pack. However, it did bring up an interesting debate about whether or not using marketing surveys to gain insight is ethical. The author does talk about the pros and cons of surveys and even gives you the lowdown on why companies should be using them. Overall, this is a great book for those out there who feel a little lost about starting to get started with market research in practice.