AboutAlex J. Caffarini Expertise I can answer questions on any of the following:
* Determining the best marketing research method for your needs;
* Conducting surveys (including questionnaire design);
* Measuring the effectiveness of marketing promotions;
* Determining market size or market share;
* Data analysis;
* Statistical modeling;
* Sales or business forecasting; and
* Market segmentation.
Experience I have 15 years of marketing research experience across several different industries, including banking, insurance, retail, and non-profit.
Organizations American Marketing Association
Education/Credentials M.B.A. in Marketing and Quantitative Methods, and B.B.A. in Economics, both from Loyola University Chicago.
Question How would you reply to the small business person who says, “Marketing Research is too expensive, so the firm will just have to get by without it’?
Answer I would first ask the small business person what insight he/she is seeking from marketing research and what decision or action he/she wishes the research to inform. Part of the reason marketing research can get costly is because companies, both small and large, do not have a clear definition of the problem they want the research to solve. When a firm understands its business problem, it will have a good idea of the research approach it should use, and that will help to keep costs in control.
While many small businesses do not have the financial resources to undertake a major nationwide survey or conduct focus groups, most don't need such extensive primary research anyway. Most often, they can get by with secondary research and basic primary research.
As an example, let's say the business owner wants to understand trends in his/her industry, within a particular geographic area. The business owner can find a wealth of data from the U.S. Census Bureau's Web site, industry trade associations, and just talking to his/her customers, suppliers, and even competitors. If a restaurant owner wanted to test a new menu entree, he/she could invite a few patrons for a taste test. The possibilities for inexpensive research are limitless and will add value as long as the business knows first what problem it wants to solve.
A few months ago, I authored a special report entitled, "10 Costly Marketing Research Mistakes (and How to Avoid Making Them)." I wrote this report with small companies in mind. You can download a PDF of this report by going to my Web site: http://analysights.com/Reports.aspx
