Tuesday, October 16, 2012

Using Market Research in a Recession

http://www.businessweek.com/managing/content/may2009/ca20090519_237035.htm

This is the article which tells us the importance of "Marketing Research." However, as the article says when the economy is in recession, or in other word, when company's profitability is not good, marketers have to make the market research more effective to save cost.

By reading this article, I thought that it could be good way for companies to utilize secondary data or open source to save money. For example, some travel tour companies are utilizing Michelin Guide's  restaurants data so that they do not need to search good restaurants by themselves or even they do not need to outsource.

I do not know if it is legal or illegal or if they are paying some money to Michelin to use the data and Michelin's brand name or not, but if it is ok, I think ways like this is one of good methods.

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