by Gage Steel

Created on: May 16, 2008

How? The biggest little question that we have ever asked our selves. In this instance, how are we suppose to find reliable market research about the retail industry. In order to answer this we need to stop and define reliable market research. We all know that reliable would mean consistent and accurate, but what about market research? Simply put, it is testing ones products amongst a variety of demographics to find it's sales potential. This can be done in house or in the public. But how can you measure it's reliability? By profit sales of course. Companies spend billions a year working on there market research, and it is not always accurate. The problem is the way they go about it. Labs and focus groups. Well focus groups are a good thing. They tell you waht the public is looking for. Unless there is no diversity in your focus group. . . then you are just wasting valuable time and money.

Whether you are testing video games, software, cloths, or blenders, they always miss the big picture. So much money is spent fruitlessly researching these things when there are cheaper solutions that are no longer in use. The most reliable way is to send the products out to the public. I had an uncle who worked for a yogurt factory. Every Christmas he would sneak some of the new products out for us to try. Think about it, you want to know if people want something? GIVE a thousand out, let them test it in there every day lives. Friends and family will see them with it, or using it, and want to know where they can get one too. After all we like to keep up with the Jones'.

Spread this out. Have some diversity. Don't give them all to white women, give some to all races, all sexes, single married with children, get them all and see what happens. If you make a contract up, stating "This product is to be used with the understanding that monthly review be submit pertaining to product reliability, and desire to own" . . . yada yada yada, the responses will be amazing. You are not just killing 2 birds with one stone, rather all the birds.

So, you spend a little up front to give some product away. Big deal. How much can you now save on marketing research? If something is going to go wrong, it won't happen in a lab. It happens under the strain of everyday life. So you are saving money. You get real life testing. You even get a little free PR and marketing. So what is the down side? Well now you really know what the markets desire is. What they want and expect. AND you save money. Darn it. Don't you just hate saving money? It is ok, I won't tell if you don't.

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