Know Your Market

27Oct 2014

In Part I I covered the difference between benefit and value. Now we’ll go one step further. Relevant Benefits Knowing what benefits are relevant and most important to a customer in satisfying a specific set of needs is critical to understanding their buying habits. Example: Virtually identical food processors from the same manufacturer are offered […]

23Sep 2014

‘Benefit’ and ‘value’ are often used interchangeably, and therefore incorrectly, in conversations about which aspects of a product or service will make it most compelling to potential customers.   I have seen this misuse cause a host of problems for sellers because confusing the two often results in erroneous expectations being set and faulty conclusions being […]

25Mar 2013

What’s the expected ROI from a scientific experiment?  Come again??? No one asks this question. Experiments are performed to test someone’s hypothesis: their curiosity about how things might work, or what might be true about a topic of interest; that is, whether the results predicted (or hoped for) can be produced.  They are done to […]

31Aug 2010

Social media offers unprecedented capabilities to communicate and connect with prospects and customers.  However, it will only benefit your company if you first decide where it is your current communications activities need assistance to meet your mar-com goals. Clearly, this last statement is true for all communications tools: print advertising, direct mail, e-mail newsletters, TV […]

13Apr 2010

[Note: This story was told to me by John Coe, President of The Sales and Marketing Institute (http://www.b2bmarketing.com/) about a client he had when he ran a full-service direct marketing agency in Chicago.  He currently provides consulting and training in B2B lead generation and sales productivity improvement to firms throughout the US.] An interior architectural […]

21Mar 2010

On March 16th Homeland Security Secretary Janet Napolitano said that she will freeze funds for expanding the virtual fence (a network of cameras, ground sensors and radars) that was supposed to monitor the southern U.S. border with Mexico by 2011.  Having cost the government $672 million so far, a string of technical glitches and delays […]

07Feb 2010

Don’t have the time to research your market?  Let’s see, you’ve taken the time to write a business case, create a marketing plan, do the forecasts, plan the rollout, and you want to use your company’s money to develop a product that will take months to complete, but you don’t have time to see if […]

06Feb 2010

The use of primary market research is not nearly as wide spread as it should be.  Here’s my take on why that’s bad for business. You’re spending a significant sum of money starting a new business, developing and launching new products, or introducing a new marketing campaign for an existing service.  What portion of your […]