If your market research is dry, it’s not the research, it’s your market.
The CEO of Terlato Wines International and some of his top employees meet weekly for an elaborate lunch and to drink wine. Not his wine, but that of his competitors.
Ad Age recently wrote about Terlato and his unique brand of market research.
According to the article Terlato said: "We just want to know where we stand...And I venture a guess that a lot of wine companies and maybe even winemakers, they make their wine and they know their wine. But they don't spend a lot of time drinking other people's wine. And I think if there is one hallmark that we do, it's that we taste everything we can get our hands on."
With more than 50 brands that’s a lot of competitive wine to drink.
Terlato talks about meeting the changing needs of the customers and he sees that in the wine his competitors produce.
The other insight he talks about is that while his competitors focused on retail, Terlato focused on restaurants. Terlato said they always “felt like people discovered wine in restaurants.” And after going restaurant to restaurant he broadened his business beyond just Italian restaurants, the traditional category for their wines.
And finally market research drove them beyond their core demographic. Their brand grew up with baby boomers, but another brand of theirs focuses on millennials. The college kids used to drink beer, now they drink wine, Terlato said.
Learn about our company and the services and products we offer: http://www.marketresearch.com
Tuesday, July 19, 2011
Tuesday, July 12, 2011
Our Country or Our Company
Small businesses, those with 500 employees or less, are more optimistic about the future of their own company than they are about the future of the US economy. According to the US Chamber of Commerce survey, conducted by Harris Interactive, 39% of business owners see their company's brightest days ahead, with only 29% saying America's best days are coming.
The “economic uncertainty” and difficulty in obtaining credit are the main drivers for their pessimism. This gloomy outlook, the respondents said, will lead to modest hiring if not job outright job cuts.
The poll was taken with Congress and the White House still struggling with the budget deficit and debt ceiling.
Small companies often feel powerless to the larger governmental and economic machinery. Their viewpoint, expressed in this survey, suggest they are still optimistic about their own business model, but they need to navigate whatever the economic and governmental gods throw in their path.
Learn about our company and the services and products we offer: http://www.marketresearch.com
The “economic uncertainty” and difficulty in obtaining credit are the main drivers for their pessimism. This gloomy outlook, the respondents said, will lead to modest hiring if not job outright job cuts.
The poll was taken with Congress and the White House still struggling with the budget deficit and debt ceiling.
Small companies often feel powerless to the larger governmental and economic machinery. Their viewpoint, expressed in this survey, suggest they are still optimistic about their own business model, but they need to navigate whatever the economic and governmental gods throw in their path.
Learn about our company and the services and products we offer: http://www.marketresearch.com
Wednesday, July 6, 2011
The Optimism Index
Yesterday the Wall Street Journal, through academics and economists, called this the worst economic recovery in history. Now we know why, because today's Journal announces that "For Small Businesses, Recession Isn't Over."
Based on low hiring since the recession ended, no plans to make hires in the short term and a low index of Small Business Optimism, the article concludes that for small businesses it still feels like a recession. Optimism and confidence are the drivers of the economy and as we've said before, MarketResearch.com is in the optimism business as we do our best to see the future for businesses.
The article adds that while higher revenue is projected, a full 78% say that the US is still in recession and the optimism index dropped for the third straight month.
A number of other factors are mentioned for the lack of optimism including tight credit, the inability to access overseas markets (because of company size) and higher commodity costs.
These broad overviews of multiple markets matter less than what you see in your markets or the markets you want to access.
The article shows areas of growth and areas of decline. As we've addressed before the economy is not a monolith. Don't despair, markets go up and markets go down, market research will show you how to find the right side of the economic curve.
Learn about our company and the services and products we offer: http://www.marketresearch.com
Based on low hiring since the recession ended, no plans to make hires in the short term and a low index of Small Business Optimism, the article concludes that for small businesses it still feels like a recession. Optimism and confidence are the drivers of the economy and as we've said before, MarketResearch.com is in the optimism business as we do our best to see the future for businesses.
The article adds that while higher revenue is projected, a full 78% say that the US is still in recession and the optimism index dropped for the third straight month.
A number of other factors are mentioned for the lack of optimism including tight credit, the inability to access overseas markets (because of company size) and higher commodity costs.
These broad overviews of multiple markets matter less than what you see in your markets or the markets you want to access.
The article shows areas of growth and areas of decline. As we've addressed before the economy is not a monolith. Don't despair, markets go up and markets go down, market research will show you how to find the right side of the economic curve.
Learn about our company and the services and products we offer: http://www.marketresearch.com
Market Research: Key to Survival in Growing Markets
Market research is not limited to large companies in mature markets. For companies expanding into new markets or for start-ups in emerging markets, market research can give you the quick knowledge on where that market will go, or even what it's doing today.
The Vietnam News reported this morning, in an article titled "Market Research Key to Survival" that market research was the only way to survive "growing fierce competition," in the pharmaceutical sector.
Chairwoman of the Hau Giang Pharmaceutical Company said "in-depth market research" was required to help them develop new products in a country where businesses only spend 5 per cent of their capital on market research.
The article goes on to discuss other industries where market research is used including apartment sales,
Re-designing product packaging and enhancing new product advertisements. The market research was used not only to decide where to grow, but also to, "avoid losses."
Quoting the President of Global Integration Business Consultants, the article noted that market research isn't the end-game and that while their market research may be good, the "distribution and promotion" may be off target.
Learn about our company and the services and products we offer: http://www.marketresearch.com
Learn about our company and the services and products we offer: http://www.marketresearch.com
Tuesday, July 5, 2011
The Recovery of Confidence
The lack of an economic recovery has been a topic of discussion at MarketResearch.com since the end of March. This is the second year in a row we saw the following trend: Confidence in Q4 of the previous year, strong sales in Q1 and a pull back in Q2 and Q3. This occurred in Q4 of 2009 as the recession ended, only to dissipate in Q2 and Q3 of last year. We speak frequently with our 10,000 customers and we can hear it in their voices and see it in their budgets. It's all about confidence in the future, optimism in what will be, and market research is all about the optimism business. And with Q2 fading into memory on the heels of weak economic news The Wall Street Journal today lays out a full page discussion "Inside the Disappointing Comeback."
The chart-laden article shows why the confidence of Q4 could not last and the similarities to the 1980 recession, which was followed by another recession two years later. Throughout the article economists and academics call this the "worst recovery yet."
The article contends that the current recovery is sluggish because underlying economic problems remain including high household debt, low housing prices, and the lack of political will/interest in more stimulus.
So how should a business to business entity handle the economic news which frankly has been less than positive now for three years?
They should find the bright spots and head for daylight. Articles like the one today suggest the world economy is a monolith. Yes, the world is flat and the economies of the world are inter-dependent, but at Marketresearch.com we see everything from start-ups to Fortune 500 companies buying research looking for trends in areas headed in the right direction and riding those to new successes.
Learn about our company and the services and products we offer: http://www.marketresearch.com
The chart-laden article shows why the confidence of Q4 could not last and the similarities to the 1980 recession, which was followed by another recession two years later. Throughout the article economists and academics call this the "worst recovery yet."
The article contends that the current recovery is sluggish because underlying economic problems remain including high household debt, low housing prices, and the lack of political will/interest in more stimulus.
So how should a business to business entity handle the economic news which frankly has been less than positive now for three years?
They should find the bright spots and head for daylight. Articles like the one today suggest the world economy is a monolith. Yes, the world is flat and the economies of the world are inter-dependent, but at Marketresearch.com we see everything from start-ups to Fortune 500 companies buying research looking for trends in areas headed in the right direction and riding those to new successes.
Learn about our company and the services and products we offer: http://www.marketresearch.com
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