Marketing Strategy for Small- to Medium-Sized Manufacturers

Low Cost versus High Cost Market Research and Competitor Information—An Incremental and Sequential Approach

Figure 63 illustrates how customer profiling, lost order analysis, and customer feedback can be used with three other types of research and information gathering: prospect qualification, secondary marketing research, and direct contact, also called primary marketing research. The five items shown in the lower cost area are so considered because they either have already been completed via C-P-M™ or can be completed at relatively lower cost than direct contact, shown in the higher cost area. They also are appropriate to all types of SMMs while direct contact, which is primary marketing research, entails considerable design, administration, ...