Comments on: 8 Questions For Optimizing Your Market Research Budget http://www.researchrockstar.com/8-questions-for-optimizing-your-market-research-budget/ Research Rockstar for Market Research, that Rocks. Online Training for Market Research. Wed, 01 Feb 2012 08:24:00 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Kathryn http://www.researchrockstar.com/8-questions-for-optimizing-your-market-research-budget/comment-page-1/#comment-21 Kathryn Thu, 30 Apr 2009 15:52:05 +0000 http://www.researchrockstar.com/?p=337#comment-21 I had a great question about this today: "We don't have an actual Market Research budget. But we are doing our overall marketing budget plan. I don't even know where to begin! Any suggestion?" Yes! I suggest you offer 3 "packages" for your management team to consider: Low, Mid, High. Low might include a budget to purchase some secondary research and maybe have a MR freelancer help with some qualitative research. High might include a Brand Awareness or Customer Sat study (whatever you think your company needs, and you can ask a couple of agencies for ballpark pricing). Giving a few options with $ amounts will help set expectations and increase the chance that at least some budget will be allocated. (Good luck, L.K.!) I had a great question about this today: “We don’t have an actual Market Research budget. But we are doing our overall marketing budget plan. I don’t even know where to begin! Any suggestion?”

Yes! I suggest you offer 3 “packages” for your management team to consider: Low, Mid, High. Low might include a budget to purchase some secondary research and maybe have a MR freelancer help with some qualitative research. High might include a Brand Awareness or Customer Sat study (whatever you think your company needs, and you can ask a couple of agencies for ballpark pricing). Giving a few options with $ amounts will help set expectations and increase the chance that at least some budget will be allocated. (Good luck, L.K.!)

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