Walmart gets religion with market research
Have you heard about all the companies cutting marketing and market research budgets? Apparently the fine folks at Walmart are even smarter than we initially thought!
“The company has invested heavily in market research, polling more than a million customers monthly directed to its website from its stores. “I’m proud of the story here, because I think it’s showing how marketing is making a really big difference to a company that maybe didn’t take it as seriously as they do today,” he said. “I think marketing is at the forefront of championing the customer internally and doing something about it.”
Wow! Even though Walmart is profitable, expanding, hiring, and overall doing well, they are still making the investment to better understand what does, and does not, motivate the customers!
“Walmart has worked extensively to retool its marketing effort, Mr. Quinn said, noting a new customer-segmentation model in recent years, a step up in marketing analytics and building up the talent pool in the marketing department.”
Think that your company can’t afford market research? Perhaps the better question is; can you afford not to conduct market research?
