“Especially in tough economic times, customers are looking for brands that deserve their loyalty, innovative new products, and effective and sincere customer service," says Debra Semans, Polaris senior vice president.
Atlanta, GA (PRWEB) April 18, 2010
In this tough economic environment, numerous measurements of marketing programs are showing a declining success, Polaris Marketing Research, Inc. (polarismr.com) Senior Vice President Debra Semans reports.
Semans attended a meeting of the Georgia State University Marketing Roundtable (robinson.gsu.edu/marketing/MarketingRoundtable/index.html) on Friday, April 9, 2010, featuring Dr. Kevin Clancy, President of Copernicus Marketing Consulting (copernicusmarketing.com/about/index.shtml) Clancy cited the following statistics as evidence of the declining success of marketing programs:
- Copernicus Marketing Consulting’s own research shows that the Return on Investment for most marketing programs ranges between 0% and 3%.
- The MMA (mmaglobal.org/favicon.ico) finds that $54 are returned for every $100 invested in advertising. Further, taking Consumer Package Goods (CPG) advertising expenditures out of the measurement yields a return of $87 for an investment of $100 in all other types of advertising.
- The Marketing Science Institute (msi.org) reports that a 100% increase in advertising expenditures yields a 1% increase in sales.
- Nielson (en-us.nielsen.com/home) reports a 95% failure rate for all new product introductions.
- The University of Michigan (umich.edu) has discovered that customer satisfaction has fallen below 77%.
“Especially in tough economic times, customers are looking for brands that deserve their loyalty, innovative new products, and effective and sincere customer service. These low metrics for marketing activities are particularly disturbing,” said Semans. “Marketers can address these numbers in many ways, but one of the key methods would be to improve how we listen to customers and how we act on their needs and wants.”
Polaris Marketing Research has worked with many clients to improve customer satisfaction, increase the probability of success for new product introductions and to build and enhance brands. “Marketing research is an invaluable resource to marketers in all activities,” reports Polaris president Jan Carlson.
About Polaris Marketing Research, Inc.:
Founded by Jan Carlson in 1989, Polaris Marketing Research is a full-service firm that provides state-of-the-art online interactive marketing research reporting, interviewing and data collection, quantitative and qualitative research expertise and personalized project management.
Atlanta-based Polaris Marketing Research is affiliated with the Council of American Survey Research Organizations, the American Marketing Association and the American Society for Quality.
For more information, call Dianne Hill at 404-816-0353 or visit us at polarismr.com.
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