It’s true in Market Research as well – you get what you pay for!

by Mark Martins

Would you walk into a Bentley dealership with a $25,000 budget? I seriously doubt it… so why is it that so many clients want premium services for bargain prices? Whether it’s sample, analysis or survey programming, the principle is exactly the same.

If your research project requires “hard to find” decision makers, it will likely be expensive so you need to ensure you have the right budget. If your high complexity, 45 minute research project needs to be programmed in 2 days instead of the usual 4, well, guess what, it’s going to cost.

Education is vital in this industry as in all others, we need to understand the product we are selling, how long it will take to accomplish and how much it will cost. Partnering with the client and educating the client on these principles is vital. We don’t always deal with a senior researcher and taking 5 minutes to help that person, who might not have done this before, understand these things can go a long way to avoiding challenges later on.

These days we have a wide range of options in the market and most of our needs can be met as long as we understand and are realistic about the implications. So if you only have a $25,000 budget please don’t waste that nice salesperson’s time at the Bentley dealership….

*This post originally appeared on LinkedIn.