When Last Did You PERSONALLY Conduct A Market Research for Your Brand?
I am not talking about Desk Research, I mean field Research Yourself. A lot of CEOs only roll up their sleeves and get into the field when their key staff resign or profits are nose diving downwards. However, for a Marketing Expert, Market Research is daily routine. If this was so,
- An Fmcg food seasoning product making huge sales in Nigeria some years ago would have known that its sales increase was not due to the fact that Target Market was using it to cook but it was being used for washing clothes as a bleaching agent. Thereby,negating the core business purpose of the brand.
- A soft drink company making huge sales would know that its competitors were buying it off the shelf and destroying its drinks to shorten their visibility on the shelf thereby denying actual targets from buying thus stifling market growth for the drink. Director, time to head to the Field!!