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Search Is 6/8 of Research

October 13, 2008  

You have lots of options when it comes to market research. "[T]here is a research firm for every project," says Ed Erickson in an article at "Don't settle for a firm that happens to be available." And whether you're looking at a small outfit or a large company, the best way to find the right match is by asking the right questions. Here are a few highlights from his discussion:

Who, specifically, is going to do the work? "It matters little that senior members of the firm are well-known industry leaders if they are not going to be involved in your project," says Erickson. Evaluate those who will handle your account not only for their abilities, but for how well they mesh with your corporate culture.

What methods do you recommend for this project? Clearly explain your goals, then fill them in on your product, your distribution and marketing channels, and what you already know of the market.

"This should give the firm enough information to describe, in detail, its data collection and analytic approach to meeting the objectives," he says. "Ask about the alternatives, and discuss the pros and cons of each." If you get vague responses it might mean that they don't communicate well, or that they're unsure of the correct approach.

The Po!nt: "There is no single right or wrong answer to any of these questions," notes Erickson. "The nature of the project and the relationship you want with the firm will determine the 'right' answers."

Source: MarketingProfs. Click here for the entire article.

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