How to use market research
We need to “comprehend, shape, adapt to, and in turn be shaped by an unfolding, evolving reality that is uncertain, ever-changing and unpredictable.”
John Boyd, creator of the “OODA Loop.”
Have you ever had the experience of seeing a market research report and saying, WOW! that is interesting – I only wish I had known that six months ago when we made that decision to develop our product line.
In this time of revolutionary changes in market after market, business intelligence needs to change. They need to speed up. Adaptive business intelligence systems need to be built and need to be turned on constantly. It is not good enough to take the pulse of your customers every year or even every six months. Doing it now and doing it constantly is the only way to stay ahead of competitors.
If you wonder how to do this, there are ways and new approaches and new tools that can inform your decision teams constantly of recent market movements and competitive changes. We can suggest a few. Adopting this new type of intelligence system will separate out those who can adapt to change from those who are mired in old paradigms, where research is more of a self assuring prop than a dynamic part of the process.
If you think of market research as stuffy, eye glazing, hard to use and even harder to understand, put-it-on-the-shelf kind of stuff, you are surely not using it. And if you are not using it, you are not able to bring relevant and current market data into your everyday product marketing decisions.
For more on speedier data-driven decisions see our blogs on:
- The Market Intelligence OODA Loop: A Dynamic Business Model
- DDD vs. HIPPOs