webinar · marketing research is the function that linksthe consumer, customer, and public to the...

B2B Market Research: Best Practices For Efficient Product DevelopmentPresented by: Richard Treitel, President, Treitel Consulting

May 28, 2020

WEBINAR

Who Are We

• ISBM was founded in 1982 as a collective of leading academics from premier institutions around the globe partnering with B2B companies for the purpose of directing, advancing and disseminating the Science of B2B Marketing.• We continue today with nearly 40 Member Firms learning from and

sharing needs with 29 Academic Fellows and 18 B2B Instructors and Partners.

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Your Presenters and Host

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Richard TreitelPresident, Treitel Consulting

Lynn YanyoExecutive Director, ISBM

Richard TreitelMay 28, 2020

�Market Research Definition�Market Research And Its Role In New

Product Development�Market Research, And Why New Products

Fail, Or Succeed�Errors In B2B Market Research, And How

To Avoid Them

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� Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.

� Source: American Marketing Association

© 2018 Treitel Consulting 3

�Because market research “links the customer to the marketer”, and is “used to identify and define marketing opportunities and problems” it is crucial for new product development

© 2018 Treitel Consulting 4

�Market�Technology�Operations�Finances

© 2018 Treitel Consulting 5

�SURF �EURN �TURF �The Classic Restaurant Combo!

© 2018 Treitel Consulting 6

�Not Surveying the real decision makers �Forgetting that customers

(Unintentionally) lie�Not realizing that importance is Rarely

important�Using Focus groups

© 2018 Treitel Consulting 7

�Not applying Enough interpretation and creativity to the research results

�Poor Use of hunches�Not keeping marketing beta testing

separate from Real beta testing�Not getting internal buy-in

© 2018 Treitel Consulting 8

�Type 1 errors�Not Using enough market research�Rejecting failure�Failing to run a reality check

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