Why is gathering primary market research information a high priority?
In this new millenium, with E-Business, Customer Relationship Management(CRM), and business re-engineering tied to increasing revenue, and improving operational efficiencies, businesses need a method of cost-effectively maintaining a pulse on their prospects and customers. Competitive advantage in business relies on our ability to transform data into information and information into knowledge.
Additionally, the "Information Age" has increased the number of opportunities for companies to conduct business. The rapid changes in the marketplace and the speed at which new products are developed and introduced, are driving the need for information to be updated at lightening speed. The challenge of gathering qualitative and quantitative information regarding industrial markets is ever-present. This information is required by all levels of management, including sales, research, customer service, new product, and commercial development, as well as product and marketing management. The process of obtaining this information from "niche" or segmented markets may be achieved utilizing the combination of internet/database marketing, targeted direct mail, and telephone marketing, or "Strategic Marketing".
Inflation, slower growth and a more competitive environment enhance the need for the industrial marketer to be much more receptive to ideas that lead to sales in a more efficient, economical manner. "Strategic Marketing" is providing the system to accomplish these objectives.
The What, Why, and How of Strategic Marketing