Marketing Factoids

  • Fewer than 10% of the London Financial Times Stock Exchange Index companies have marketing directors on their boards source ›
  • Of those people that recently made consumer electronics purchases in a store, 80 percent visited the store's website first. - Nielsen Online survey source ›
  • V users watch more TV than before (127 hrs, 15 min per month) and also spend 9 percent more time using the internet (26 hrs, 26 min per month) than they did last year source ›
  • more factoids ›
DEC 2007

Raising Your Market IQ†

Too many companies gather intelligence on a narrow slice of consumers. They need to think more broadly.

Wall Street Journal, December 1, 2007 — It sounds so obvious: You have to know your market.

Yet when it comes to actual market intelligence, too many companies do it all wrong. Some miss the big picture by focusing on just a slice of their market, or by limiting their studies to transactions and other customer data already in their possession. Others have the opposite problem: They don't look at their customers closely enough, causing them to miss opportunities right under their noses.

Such efforts reveal little about new market opportunities and risk losing current customers to companies with better data. By contrast, obtaining a better understanding of a complete market and what drives customers' purchasing decisions would help companies discover untapped or underserved customers.

Category: Marketing Strategy
Tags: Consumer Insights, Research

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