Market Research in a Recession Paper Example | Topics and Well Written Essays - 500 words

Market in a Recession - Research Paper Example For any CMO who is reading this article will start thinking of making changes to his or her approach towards using market research as a tool for making strategic decisions in light of the associated costs of it. Even for market research companies who will be crucially hit by the reduced spending of clients can start brainstorming on a new approach which is cost-effective so that they don’t end up losing its business. A marketing decision is directly affected by this article because it indicates that in the current situation of decreased consumer spending, the trends and patterns have changed quite substantially making it difficult for any marketing person to take a decision on its basis. Consumers are switching brands, changing preferences and looking for deals. Consumer loyalty is shaken in current times where the consumer has become highly cost conscious. Hence a marketing decision should be taken by considering these changes and trying to apply the seven points mentioned in the article. In addition to the current points made by the writer, he himself could have done a small study of companies in different sectors to clearly prove the trend of reduced spending on market research. The writer could have done two distinct things, by using market research himself to prove his point. One, a telephonic interview session with CMOs of Marketing Managers involved in the strategic decision and understand their viewpoint on the current scenario. This small study would have helped him to fortify his claims and support these seven points better.