Why Marketing Research? Philip Kotler stated, "Research is the starting point for marketing. Without research a company enters a market like a blind man.” In most companies, spending on marketing research is considered an expense, not an investment in risk reduction Until we develop and can agree on measures of return on marketing research investment(ROMD), the marketing research function will continue to suffer the fate of short budgets and yo-yo staffing Suggested Reading: .Lesh, Dawn and Diane Schmalensee(2004), "Measuring Returns on Research, Marketing Research, (Fall), 22-27 5 C Copy'ttentsresereeer zen1..a5 5 © Copy rights reserved, Zou Deqiang Why Marketing Research? • Philip Kotler stated, “Research is the starting point for marketing. Without research a company enters a market like a blind man.” • In most companies, spending on marketing research is considered an expense, not an investment in risk reduction. • Until we develop and can agree on measures of return on marketing research investment (ROMI), the marketing research function will continue to suffer the fate of short budgets and yo-yo staffing. Suggested Reading: •Lesh, Dawn and Diane Schmalensee (2004), “Measuring Returns on Research,” Marketing Research, (Fall), 22-27. Suggested Reading: •Lesh, Dawn and Diane Schmalensee (2004), “Measuring Returns on Research,” Marketing Research, (Fall), 22-27