Do I Really Need Market Research If I Know My Target Market?

Exact Target MarketI was recently approached with this exact question recently by someone I really just met moment before. I was almost at a loss for words when it was presented because I was not sure if the person was joking with me or if they were serious.

Now not knowing that individual well, I said back in a joking manner “Of course or I would be out of a job!”

Although I was lighthearted in my response, I am serious about the answer I provided.

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Market Research Findings Help Marketing

Last week, I wrote about using market research to develop your business plan. But, just as important as business plans is your marketing plan. There is an old quote in marketing that you “know only 50% of your marketing is effective, you just don’t know which 50%.” However, this old adage is just not accurate anymore. By developing your marketing campaigns in a correct way, you can track the effectiveness of your marketing.

Before doing anything, you need to think it out ahead of time and plan it. The old saying of the 5P’s (Prior Planning Prevents Poor Performance) rings true nearly every time and this is no exception. Once you have developed your marketing plan, implementation and tracking is easy to do. Here are some easy idea to help track your marketing. Read more of this post

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