Science: 1. a systemized knowledge derived from observation, study. 2. a branch of knowledge, especially one that systematizes facts, principles and methods in order to produce solutions in some problem domain.
As Webster Dictionary's definition suggests, marketing expertise is base on obtaining objective knowledge and using it to develop methodologies and principles. It all begins with gathering, managing, analyzing and systematizing information.
Marketing is far more than tactics. A sound marketing strategy begins with analysis. Therefore the word ‘science' aptly reminds us that first-rate marketers do their homework by researching the marketplace, competition and customer preferences, just to name a few. The goal is to take a crap shoot and turn it into an informed decision. Is there still risk? Absolutely, but it's greatly reduced.
There are a number of textbooks devoted solely to the types, validity, merits, descriptions, etc. of various marketing research methods. Some are quite complicated, while others less so. Since research and analysis are particular interests of mine, I'm tempted to provide you with specific details on each type. But you're in luck… I will resist the pull.
Nevertheless, it is important that you understand and consider that the operative word is knowledge- About:
Provides you with measurable, objective, facts… For instance, if you asked 10 people if they liked ice cream and 6 said ‘yes' then you'd be correct if you concluded that 60% of respondents like ice cream. Caution: If your respondent numbers are low (like 10!) the information you receive is not valid and should not be used to generalize over a larger population. Your random (this is an important point… your respondents must be selected randomly) sample must be large enough to be considered statistically valid.
... are considered more exploratory. Usually a small number of respondents are asked to give their opinions on various subjects, products, companies, and the like. This data can be extremely useful but should never be used as a decision-making basis for key strategic or tactical activities.
Some of the best are:
As a very wise man once said:
An investment in knowledge pays the best interest. Benjamin Franklin
Mary Eule Scarborough, an unassailable marketing expert and thought leader, helps businesses of all sizes get and keep more profitable customers. She is also:
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