Many marketing managers fail to use marketing research as a tool to create valid marketing plans. Here are seven characteristics of good marketing research.
(Kotler & Keller, page 104)
1. Scientific method – Observation, hypothesis, prediction, and testing.
2. Research creativity – Be innovative and focused on results that matter most.
3. Multiple methods – Don’t get hooked on one method as the best or only way to do research.
4. Results driven by method chosen – The research results (data) is limited by the research method. Don’t be tempted to read too much into the results.
5. Value – It is easy to determine the cost of research, but the results have to be “valuable enough” so that management will make decisions based on the the results. Stop doing research once this threshold has been reached.
6. Skepticism – Be alert to flaws and blind acceptance of myths or urban legends.
7. Ethics – Don’t mix-up marketing research with lead development or other sales related activities.