Why marketers don't need a big budget to produce effective market research – Marketing Week

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With investment on a downwards trend, many brands are dealing with falling market research budgets. But marketing bosses at PepsiCo, Aviva and PZ Cussons believe expensive isn’t always better when it comes to producing quality insight.
Market research
Market research is one of the most important weapons a marketer has in their arsenal. Without it, it is almost impossible to keep the consumer at the core of a brand’s activities.
Yet, in November last year, research conducted by Marketing Week discovered market research was suffering from a long-term decline in investment, which was only heightened by the onset of the Covid-19 pandemic.

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Marketers are “setting themselves up to fail” if they rely on averages and don’t make an effort to include diverse communities in their marketing strategy from the beginning, says senior media director Jerry Daykin.
Main media advertising budgets saw the biggest boost over the third quarter of the year, as marketers report growing optimism about the prospects of their businesses.
TSB has been on a two-year journey to better understand its customers and realign its business and brand around their needs.
Brands see both dangers and benefits when employees publicly address social and cultural issues, according to The CMO Survey, but they should still be encouraged to do so – with proper training.
Engaging with customers across channels can be transformative for marketing results, but you need to know which combination of channels to use and when.
Online sales surged over the Christmas period following Next’s decision last year to ramp up its digital marketing spend, with full price sales continuing to grow.
As it launches a new TV campaign to kick off the new year, the winner of Marketing Week’s 2021 campaign of the year outlines its plans for 2022.
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