Just as the marketing research process is time-consuming if you do it yourself. It’s quite expensive to hire a marketing agency to do it for you.

Agency personnel involved in the marketing research process are professionals. Researchers usually have at least a master’s degree and substantial research experience. So their time isn’t cheap. Plus, you’ll have an account executive assigned to you, who will also rack up billable hours.

So depending on where you live, you’re looking at a hefty agency bill for working through the marketing research process that I described in my last post.

Some small business owners don’t think they can afford to spend time nor money on the marketing research process. Plus a few small business owners don’t understand the importance of marketing research. They’d rather spend their money on tactics. Even if the tactics don’t work, they feel like they get more for their money.

The truth is that time and money spent through the marketing research process is a great investment because it saves you from wasting resources on ineffective tactics. Money spent on target marketing research is a particularly good investment because it keeps you from wasting marketing resources on people who aren’t ever going to buy what you sell.

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Posted 11-3-08:
The Marketing Research Process
Time Consuming, Expensive?

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