Knowing Your Audience
Research is Incredibly Valuable
With many choices of brands of all types of products, it's no surprise that the more you know your customer the better. Companies conduct a tone of research on their market before releasing their idea. Knowing your customer is key.
To instantly recognize a brand, the marketing on the product has to be powerful. Successful companies depend heavily on conducting market research
to make their product pop.
Companies on the smaller side may not be able to conduct such research. these companies can still access past research that will still help educate them on their consumer.
Even the simplest product
A lot of organizations
also have the means to conduct research before every product launch. Hours of research is behind even the simplest of product launches. Doing so, will help the products meet consumer desires and expectations.
Some of the most recognizable brands like Green Giant and Coca Cola have hundreds of hours in research behind each product. From a bag of peas to a simple coke can, you can almost feel the research.
Common Failure Attribute
Knowing and Understanding the consumer by Renee Fraser
Students who are majoring in marketing have to study many companies failures. The one common attribute is that they didn't conduct enough of the research needed. They jumped the gun only to miss the mark.
Research is proving more effective in shedding light on the many variety of things. It is a fascinating topic to think that just a color of a product can affect its sales. While other research might show that consumer are just looking for a good deal on said product.
Knowing and Using
In order to help the sales of an item, marketers must use and follow their research. Failures in marketing a product happen all of the time. This is often because of not enough research occurred. Also, this is because no research was done at all. Essential for an effective marketing campaign is thorough research at the start.
Read more more in depth article on Business.com