B2B Market Research: Best Practices For Efficient Product Development Presented by: Richard Treitel, President, Treitel Consulting May 28, 2020 WEBINAR
B2B Market Research: Best Practices For Efficient Product DevelopmentPresented by: Richard Treitel, President, Treitel Consulting
May 28, 2020
WEBINAR
Who Are We
• ISBM was founded in 1982 as a collective of leading academics from premier institutions around the globe partnering with B2B companies for the purpose of directing, advancing and disseminating the Science of B2B Marketing.• We continue today with nearly 40 Member Firms learning from and
sharing needs with 29 Academic Fellows and 18 B2B Instructors and Partners.
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Your Presenters and Host
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Richard TreitelPresident, Treitel Consulting
Lynn YanyoExecutive Director, ISBM
Richard TreitelMay 28, 2020
�Market Research Definition�Market Research And Its Role In New
Product Development�Market Research, And Why New Products
Fail, Or Succeed�Errors In B2B Market Research, And How
To Avoid Them
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� Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.
� Source: American Marketing Association
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�Because market research “links the customer to the marketer”, and is “used to identify and define marketing opportunities and problems” it is crucial for new product development
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�Market�Technology�Operations�Finances
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�SURF �EURN �TURF �The Classic Restaurant Combo!
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�Not Surveying the real decision makers �Forgetting that customers
(Unintentionally) lie�Not realizing that importance is Rarely
important�Using Focus groups
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�Not applying Enough interpretation and creativity to the research results
�Poor Use of hunches�Not keeping marketing beta testing
separate from Real beta testing�Not getting internal buy-in
© 2018 Treitel Consulting 8
�Type 1 errors�Not Using enough market research�Rejecting failure�Failing to run a reality check
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