Why Market Research Matters

by Jenny on May 21, 2015 Comments Off on Why Market Research Matters

The first step in launching any successful business should be conducting research into prospective markets.

What are some misconceptions about consumer research?
One of the biggest misconceptions is that it’s unnecessary. Often, new entrepreneurs adopt the “if you build it they will come” mentality, assuming innovation alone is enough to grow a business. I encourage entrepreneurs to see data as a GPS. A GPS helps only when you’re navigating streets you haven’t been on. In the same way, research should actually uncover things you don’t know to help you get where you’re going, faster.

What kind of data should a business look for?
If you have an inspiring product and know your audience, start with a pain-point study. Traditionally, it’s called the “path to purchase,” but that’s an outdated term because the path to commitment is no longer linear. It’s filled with voluntary distractions. Your goal should be to be a relevant distraction that can alleviate some tension.

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Jenny Dinnen is President of Sales and Marketing at MacKenzie Corporation. Driven to maximize customer's value and exceed expectations, Jenny carries a can-do attitude wherever she goes. She maintains open communication channels with both her clients and her staff to ensure all goals and objectives are being met in an expeditious manner. Jenny is a big-picture thinker who leads MacKenzie in developing strategies for growth while maintaining a focus on the core services that have made the company a success. Basically, when something needs to get done, go see Jenny. Before joining MacKenzie, Jenny worked at HD Supply as a Marketing Manager and Household Auto Finance in their marketing department. Jenny received her undergrad degree in Marketing from the University of Colorado (Boulder) and her MBA from the University of Redlands.

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