“ To correct the problem, the racing league hired five different research companies that conducted nearly 50 focus groups, reaching out to everyone from fans and media to sponsors before the season began.
This quote came from an article in Ad Age and highlights how once again market research saves the day for a business!
When the most recent recession started in 2008 it was all too common to see companies cut back on market research efforts and spending. As Nascar shows us, market research done properly is truly a profit center and not a line item expense.
A crucial key to success is to make certain that the market research vendors you consider focus on the business issue first and foremost. At Powerfeedback technology and methodology is secondary to the business needs and conditions.
Nascar is using market research to repair and grow their business. How about you?
