Leverage Marketing Research During the Recession

We found a great piece in the the Harvard Business Review by the ever-brilliant John Quelch, and knew that it was worthy of reprint here on Synergyblog.

Dr. Quelch outlines seven steps for CMOs to take during the recession to mitigate the reduction in consumer spending.

It’s a great article, and as marketing research practitioners, we at Synergy Marketing Strategy & Research, Inc. are pleased to see an increase in spending with some of our clients.

We believe companies who listen well to consumers, employees, and stakeholders, execute often on fulfilling their brand promise, and continue to produce excellent goods and services without compromise of quality and value will exceed during this recession.  Enjoy. Thrive. Trust and be Trusted!

Recession-challenged consumers are buying less, looking for deals, or switching to different brands, product categories, or stores. Some are even changing long-held attitudes toward consumption. To many folks, filling the home with more stuff or keeping up with the Joneses is no longer appealing.

As a result, the degree of uncertainty in business and consumer markets has soared. Yet, to conserve cash, most firms are reducing spending on the market research that would help manage that uncertainty. In the U.S., spending on market research has dipped for four consecutive quarters, and chief marketing officers don’t expect the situation to turn around soon. Most big consumer marketers are seeking to shave 10 to 20% off of research budgets.

In flush times, a rising tide of consumption can compensate for less than optimal branding, positioning, pricing, or segmentation. That is certainly not the case now. At the same time that marketers must pare down research expenditures, they face added pressure to secure high-quality data and insights.

Read Full Post »

Synergy Marketing Strategy & Research, Inc. Unveils New Focus Group Facility

AKRON, Ohio. Synergy International Limited, Inc., a full-service marketing strategy and research firm specializing in stakeholder relationship management, recently unveiled its 3,600-square-foot focus group facility in Fairlawn. Outfitted with the latest amenities, the state-of-the-art facility will enable award-winning Synergy to grow its presence throughout Cuyahoga, Medina, Portage, Stark and Summit counties.

The new facility further solidifies Synergy’s commitment to serve Northeast Ohio. In 2007, Synergy acquired DecisionPoint Marketing and Research. With the acquisition and the opening of a new focus group facility, Synergy is poised to create a dominant presence in the region.

We are so pleased to serve Akron and surrounding communities,” said Rachel Daniel, CEO of Synergy and a doctoral candidate at Case Western Reserve University’s Weatherhead School of Management. “To my understanding, we’re the only privately owned focus group facility in Summit County and the only female- and minority-owned facility in the state of Ohio.”

Synergy conducts consumer, corporate, political and employee focus groups, mock jury trials, observational research, web and telephone surveys and mystery shopping. The company has a database of more than 60,000 research participants in Cuyahoga, Medina, Portage, Stark and Summit counties.

With a dedicated focus group facility, Synergy’s customers can conduct quantitative research in a luxurious setting. The facility boasts a large, open participant room with two breakout areas; a spacious and elegant viewing room, which seats 12 and includes a double-glass mirror, in-suite restroom and private entrance; two discussion rooms with plenty of space for relaxed conversation; wireless Internet and state-of-the-art audio/visual equipment.

Founded seven years ago, Synergy has quickly gained recognition for its ability to translate sometimes-complex quantitative or qualitative data into actionable insight, while implementing programs that target specific stakeholder needs. Ms. Daniel’s passion for serving clients is shared by her team and appreciated by Synergy’s clients, which have included Time Warner Cable, P & G, Kent State University, Alltel, Best Buy, Doar Litigation and Key Bank.

Synergy practices what it preaches—the principles and discipline of customer experience management,” commented Tony Bodak. Bodak is the Director of Service Excellence for Life Line Screening, the leading provider of mobile preventive health screenings in the U.S. “Synergy has developed a uniquely thorough understanding of our needs and built solutions from there. Synergy’s customer-driven approach has helped us cultivate our [own unique customer-driven approach].”

Synergy continues to grow and excel. Microsoft recently tapped Synergy to conduct qualitative research at a national retreat for affluent women of color. Synergy has also added the City of Cleveland and another division of Time Warner Cable to its growing client list.

To learn more about the success of Synergy and the exciting new focus group facility, visit http://www.synergycem.com. Better yet, Ms. Daniel offers a personal invitation to the Fairlawn site. “Please call us or stop by for a visit,” she said. “We always have great coffee!”

Read Full Post »