Using Market Research in Existing Companies

Market ResearchLast week, I wrote about using market research in start-ups and new companies.  Although I am passionate about this, the bulk of my career has been doing market research in one of the worlds oldest industries.  I am not sure if anyone can tell you when it began, but there are Japanese construction companies that date prior to the founding of the New World.
Just because a company or an industry has been around for a long time, does not preclude them from needing research done in their business today.  In fact, I would submit, that companies that have been in existence for a long time have been successful because of the continuous research they have done.  Their continued success will be based on the research that they are doing right now or will be doing in the future.
It is all about mindset of the organization.  If the organizations mindset is based on the fact that research is important, then the value will be there.  The true is on the flip side.  If the organization does not value market research, they may not even have an person doing it for them, internally or externally.
I have had the fortunate experience to work for two organizations that wanted to introduce market research into their culture.  They were doing research before I got there, but were looking to take it to a higher level.  They saw the value in what good research could do for the organization.  I would hope that anybody in market research gets the opportunity to do the same.
How does your existing company use research with its organization?

–J. Nolfo helps companies understand their market and customers though a variety of market research strategies. He has over ten years of experience of market research for strategic planning purposes. He is the Director of Research at Rhino Market Research. He shares his thoughts about market research and business concepts with his blog “Pensare…Understanding Market Research in Business“. If you would like to discuss this blog or how J. can help you understand your market and customer needs, email him at jnolfo@rhinomarketresearch.com.

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About J. Nolfo
Well...there is a lot to know. #Cx, #Analytics, #SM, Specialty #AgChem, #StL sports, & more. FT @BASFAgProducts. @Mizzou Alum. Supporter of the #Rhino. Tweets my own. #SMMW17 attendee....Dad...Hiker...Scouter...and so much more.

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