Marketing Research & Strategy
Is Your Marketing Strategy Based on Research or Just Intuition?
Any marketing initiative, whether it be a branding exercise or a product launch, needs to be grounded in research. It’s understandable–you have a great idea and you want to get it to market. But what happens if you don’t fully grasp the market forces at play?
Research isn’t a specific activity, but it’s the process by which you go about and learn the marketplace and who your target clients are, their needs, and frustrations. This will be slightly different for every business and organization, so it’s important to work with an agency like Lighthouse that understands that.
Good research will evaluate the efficiency of your business model as seen through the lens of the Four P’s of marketing; product, price, place, and promotion.
In the end, good research will help you identify problems and opportunities, refine your systems, and evaluate your marketing strategy.