Legend People Research & Marketing Firm
Ancient wisdom for radically better branding
The financial storms that have ravaged the global economic landscape are calming, but many of today’s businesses are still riding the recessionary wave. A whopping 80% of businesses say their financial performance has suffered greatly as a result of the crisis. 42% of executives are working longer hours, 40% give up their vacation time and 72% have spent many more nights and weekends at work, in a steadfast attempt to regain lost ground. The days of business as usual are long gone. Today’s status quo of finding new revenue streams and lowering costs is no secret to most businesses, yet a whopping 90% of executives say they continue to miss out on major opportunities to boost profits. The reason cited? They were unable to anticipate them in time to act on them.
Rupert Murdoch says, “The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.” Business owners and operators are fighting to keep up with changing market conditions. Learning the secrets for making the most of every minute and every dollar for organizational growth top the development plans for many companies. There are three things that hold businesses back:
FAILURE TO ANTICIPATE THE ROAD AHEAD:
Problem: Though 79% of today’s top executives say responding quickly to change is the only way to survive our current economic challenges, only 1 in 3 are even able to identify threats before they strike, much less proactively position their business for growth.
Solution: Cutting edge Legend Marketing Research gives companies the power to predict the future and act on it. Market data, harnessed by the power of Legend, catapults business leaders onto a high speed course for market dominance.
MARKETING RESEARCH – THE LEGEND PEOPLE GUIDE MODERN DAY BUSINESS HEROES TO EPIC SUCCESS
LACK OF FOLLOW-THROUGH:
Problem: 53% of business leaders admit their companies are ineffectual decision makers… often getting the answer wrong or getting the right answer too late. Solution: Today’s business leaders are bombarded with great advice, tips and tricks to make their businesses grow…. The task of marketing research (MR) is to provide management with relevant, accurate, reliable, valid, and current information. Competitive marketing environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment.
Solution: Marketing managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs. They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control. These decisions are complicated by interactions between the controllable marketing variables of product, pricing, promotion, and distribution. Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes. Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, consumers’ response to marketing programs cannot be predicted reliably or accurately. Ongoing marketing research programs provide information on controllable and non-controllable factors and consumers; this information enhances the effectiveness of decisions made by marketing managers.
Problem: 55% of entrepreneurs are extremely fearful of losing their business altogether, often resulting is extreme and costly levels of caution when decisiveness is called for.
Solution: The good news is that 75% of businesses have innovation and growth as a top priority. But this also means the competition is fierce.
Legends Research Services transform knowledge into competitive advantage. Our teams of specialists leveraging behind the door research access, extensive business experience, and the proprietary Legends experience to intuitively transform both internal and external messaging.
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