July 6th, 2010
Arizona hotels to help finance state PR campaign; goal to bill state as 'safe' destination
Peter Schwartz
Arizona is really making the national news these days, as you might have noticed. Obviously the new immigration law 1070 has put us right smack in the middle of a lot of controversy and it looks like we think that PR is coming to the rescue. The law requires that police enforce another law to ask people about their immigration status if there is “reasonable suspicion” that the people are in the USA illegally.
Arizona will spend $250,000 on a PR campaign to fight the many concerns about 1070 and promote itself as “a safe and welcoming destination.” And Arizona's hotel trade group will add another $30,000.
The PR campaign is one of the recommendations presented this past week by a tourism task force appointed by Gov. Brewer to address the state's tourism industry. The findings came after the ACLU issued “travel alerts” to Arizona visitors in advance of the Fourth of July weekend, informing travelers of their rights if stopped by police. Brewer approved the recommendations, which paves the way for state agencies and the Arizona Hotel and Lodging Association to carry them out.
The task force was charged with finding ways to aid Arizona's tourism industry as it grapples with fallout from the law that Brewer signed in April. The law has sparked boycotts and outright travel bans from cities large and small, school districts and other municipal bodies at a time when travel is gradually starting to rebound from a two-year downturn.
The task force says the state should hire a PR firm “to help manage the existing dialogue and clarify the facts” regarding the immigration law including getting into editorials in newspapers and placing interviews in media outlets in key visitor markets.
The recommendations also direct Arizona to “change the tone of the dialogue to reflect the true implications and tangible effects that boycotts have on the lives and families on the most vulnerable tourism employees.”
OK, now, I'm all in favor of PR — after all it's never a bad idea to make an effort to tell you side of the story so to speak — and that's all this really is.
But there are a few questions here: for starters, is $280,000 enough to really have an affect on the way the rest of the country sees Arizona? After all there are 300 million people in the United States, so that's about a tenth of a penny a person — not exactly a great ratio in my mind. The other question is, once you make an announcement like this — basically “Boy, we got our state into such a bad perception problem that we have to hire a PR firm” — and it's got all this media attention for needing good PR — have you already created more harmful PR than any good PR you can actually buy? That's my suspicion.
June 24th, 2010
Arizona still growing, believe it or not
I have what I consider at least to be some good news for small businesses and others out there in Tucson and across southern Arizona.
If there was any question about the growth spurt of Arizona cities being over, new figures from the U.S. Census Bureau should put that to rest.
The report shows most communities in the state continued to add residents in the year ending last July 1, the most recent for which figures are available. But the rate of growth is in most cases a less than half what it was five years ago.
For a little context, The University of Florida's Bureau of Economic and Business Research, which tracks population trends, recently reported that the state lost 58,294 residents between April 2008 and April 2009. It was the first time since 1946 that Florida's population has dipped. The reason back then was the ending of World War II, when thousands of military personnel who'd been stationed here moved out.
So for starters, at least we're not shrinking like Florida — that's nice to know.
But in addition, some areas are actually growing quite quickly: Sahuarita's one-year growth rate of 10.8 percent was the highest in the state for the year ending last July 1. But that is just half the rate of five years ago.
Tucson grew 1.5 percent in the year ending July 2004. By July of 2008 that had dropped to 0.7 percent; for the year ending last July it slipped to just 0.6 percent.
Statewide, population was up 1.5 percent for the most recent year. That compares with a 2.2 percent annual growth for the prior 12 months.
OK so what does this mean? Well it means that growth has slowed in the state. But that is no surprise. For me this was somewhat encouraging since it shows that at least we're not shrinking, after all we have been through given the economy and all the immigration issues we have been dealing with. So businesses out there can know that at least there are still customers out there. They clearly are not spending what they were but they have not “left the building” as they say, and that gives me hope for our economy and our state — and should make marketing less of a challenge than it might have been otherwise.
June 22, 2010
Recruiting a Chief Operating Officer from the ranks of a company's marketing people
Peter Schwartz
OK, so when you are looking for a chief operating officer — a COO — you look for someone who really knows the company, how the rest of the world and your customers see your company right? Well Rite Aid has just filled their COO position, and guess who they promoted into this crucial day to day management position. Well, it's none other than one of their top marketing executives. His name is Ken Martindale, who will oversee the chain's store operations, marketing, merchandising and supply chain management, was previously senior executive vice president of merchandising, marketing and logistics.
Now I find this interesting since for starters it's always nice to see a fellow marketer being promoted into the so called “c-suite” but in addition to that it looks like this is a sort of “Who you gonna call?” moment for Rite Aid — and by that I mean they are facing a bit of a crisis. Rite Aid sales at stores open at least a year fell one percent during its first fiscal quarter, and that is not good news. And so for all you listeners out there — especially all you marketers — this is just a little affirmation that marketing is actually a business discipline and is being considered as such in the real world more and more. After all, if Rite Aid decides that their top marketing executive is the person to put in charge of the chain's store operations, marketing, merchandising and supply chain management then you know they see the value of marketing.
June 16, 2010
BP's Search Engine Marketing
Google, Bing and Yahoo are seeing a windfall stemming from the Gulf of Mexico oil spill. British Petroleum has begun posting sponsored advertisements that turn up in search queries related to the unfolding ecological disaster.
BP is paying to show up as the top sponsored ad when you type search queries such as “BP news,” “oil spill” and “oil spill claims.” The sponsored links take you to a special BP webpage brimming with images, news updates and videos of clean up efforts.
The embattled oil company “could be spending a million dollars a month depending on how broadly they've defined the keywords they're purchasing,” says Kevin Lee, CEO of search consultancy DidIt.com.
Matthew Whiteway, Director of Campaign Management at search marketing agency Greenlight, calls BP's online reputation-management campaign “a PR masterstroke.”
Vanessa Fox, author of Marketing in the Age of Google, notes that it has long been common practice in times of crisis for companies to use PR outreach. “More and more, consumers are turning directly to search engines to get information so paid search ads can be a much more direct way for companies to connect with the audience they are trying to get their message out to,” says Fox.
June 14th, 2010
More Tucson Hotels?
Peter Schwartz
I see in Inside Tucson Business that at least 13 hotels in Tucson — with more than 2,300 new rooms — are planned over the next three years.
Three of the properties intend to market themselves to guests attending downtown-area conferences and events. A downtown convention hotel has the highest profile of any pending project. The push is for a 525-room, $192 million Sheraton hotel to open in 2012.
The next largest project in terms of rooms is the expansion of the Marriott University Park Hotel.
Elsewhere two projects are being planned at Kino Parkway and Interstate 10. The U of A's BioScience Park is planning a 300 to 500 room hotel. And a 121-suite Value Place Hotel, 1980 E. Ajo Way, is ready to go as soon as financing is approved, hopefully this summer.
But Jerry Hawkins, VP at CB Richard Ellis says that “lenders want to know how you are figuring room rates and occupancy. Right now, it's easy to take almost any good Tucson project and prove the numbers wrong,” he said.
After all, from 2008 to 2009, local hotel occupancy rates fell from about 61 to 53 percent and average room rate fell from $101 to $90.
Hawkins asks, given these numbers, “Why not fewer rooms? The convention guys can brag about all the business they're going to bring in. But if you're coming to Tucson for a convention and have the option of staying in a foothills resort or downtown, I think many people would be hard-pressed to pick downtown.”
Bruce Wright, a VP at University Research Parks, states “We also expect to compete for conferences coming to town.”
But Tucson only has three annual, what hoteliers call, “city wides”: the gem show in February, El Tour de Tucson in November, and the Jehovah's Witness conventions in the summer.
And Mark Van Buren, GM at the Marriot University Park states that that paltry number will not grow “until we improve the convention center. Tucson is not up to speed to compete with other cities. This business is highly transient, you have to think multi-use for your property. I don't think anyone planning a hotel today can rely solely on convention business.”
So my question is: how are all these companies planning to market their new hotels? I hope they have some sort of unified plan in place that preferably works closely with the state tourist bureau, because if now we could end up with a lot more empty hotels, which will not help anyone.
By the way, if any of these folks ned help marketing their wonderful new hotels all they need to do is call Rich and I — we would be more than happy to show them what can be done to make sure that effective marketing is not left out of the equation.
June 9th, 2010
Chevy, er, Chevrolet
There's corporate silliness. And then there's what happened at Chevy, er, Chevrolet this week. Their sales and marketing VPs sent a memo to employees asking that they talk about the brand as Chevrolet, not Chevy.
They want the brand to be consistent, especially since GM is trying to push Chevrolet in global markets where some people may not know it as Chevy. The story took on a life of its own, with some observers thinking that Chevrolet way trying to ban the use of the nickname “Chevy.”
GM has since backed away from that internal memo saying that Chevy is the brand's beloved nickname. “'We're proud of it,” one of the VPs behind the original memo stated “It's great.” He said GM's global colleagues were looking for clarity on the brand. Here in the U.S., people can call it Chevy. But around the globe, Batey wants to see it consistently called Chevrolet over time.
This all seems like much ado about nothing. Even if GM wanted to ditch the Chevy nickname, Americans won't care. They will call it Chevy just as they have for decades.
As BusinessWeek wrote this week, the fact is that GM may legally own its brand names, but not the Chevrolet or Chevy names in the popular imagination: the brand's customers and fans do. If Chevy or Chevrolet buyers in China or the U.S. or Russia want to call it Chevy, let them do it. So long as they are happy with their cars, why should GM care. Given the fact that GM is trying to rejuvenate interest in its brands—especially Chevrolet, which is 72% of its U.S. sales this year—the company should be happy that consumers care enough use a nickname for the brand.
Bottom line marketing message for companies out there, especially in these economic times: “call us whatever you want, just call us.”
May 22nd, 2010
Marketing Lesson from Pac-Man
Peter Schwartz
The fact that Pac-Man is 30 is enough to make you feel ancient.
Pac-Man is one of the few early games to have survived the novelty of the arcade era. More than 10 billion games of Pac-Man have been played worldwide.
Why does the fast-paced little bugger still thrive for Xbox Live Arcade, the iPhone and the iPad? It's the simplicity. Games were stripped down to their essence back in the golden age of the arcade — You were required to follow three simple rules: Navigate the maze. Eat dots. Avoid ghosts. You needed quick reflexes and a fear/hatred of those ghosts to succeed. The game is the same today when played on the iPad and Xbox Live Arcade.
For an industry in which hard-core games cost millions and often fade within three weeks of release, it's comforting to know that Pac-Man is evergreen, fondly remembered and still played after three decades of joystick nostalgia.
So we have a two fold business-slash-marketing lesson here that people can apply to their work and businesses:
1. KISS - keep it simple stupid, and
2. If something ain't broke don't fix it.
May 18th, 2010
As John Tantillo of the American Marketing Association points out, GM is a Marketing Winner of the Week. Why?
Well, as you will recall, last year many were proclaiming the end of General Motors — especially the all-seeing pundits of doom out there — but some in marketing recognized that GM has always been a company built around brands. That is, people buy brands not companies and GM, despite its myriad problems is a company with terrific brands that people continue to want. For GM they include Cadillac, Chevrolet (or Chevy), Pontiac and GMC.
So it was seen as possible by some at the time that if GM continued to focus on its brands, a trend that had been taking hold months before the government bailout, it could re-emerge in a strong position.
Well, GM has just made its first profit since 2007. $865 million on revenue that had increased by 40%. Not bad for a company that just a few months ago was considered on death's door.
Now the Treasury still owns 61% of the company — that's us, the tax payers, and many people are still skeptical, but I believe they are missing the key element here. The problem with GM was never a marketing problem, it was a management and financial problem. The company was encumbered by unwieldy pension obligations, et cetera, most of that's all cleared up now, letting the brands which have been getting better and better over the past thrive.
So how long will it be before GM makes a profit for the taxpayer? Well, time will tell — but if it happens it will be because they are exploiting the strengths of their brands.
May 17th, 2010
Marketing Lesson from Johnson & Johnson
Peter Schwartz
Bloomberg reports that Johnson & Johnson admitted it illegally marketing its Topamax epilepsy drug for other ailments, fulfilling part of an $81 million settlement with the government. J&J officials pleaded guilty to a misdemeanor charge of selling a misbranded drug. The company agreed to pay a $6.14 million criminal fine.
While the FDA approved Topamax for epilepsy, J&J promoted the drug for unapproved psychiatric uses — a big no no. Companies are forbidden to market them for the so-called off-label uses.
How did they do this? You see, when the drug lost patent protection J&J hired physicians through its “Doctor-for-a-Day” program to join sales representatives in visiting other doctors to speak with them about the unapproved psychiatric uses. The doctors were paid as much as $3,000 a day plus expenses for the visits. One neurologist made $500,000 for appearing before doctors about 200 times, according to the filing.
As part of its plea deal, J&J also pledged to adopt a corporate integrity agreement designed to bar the company from engaging in further illegal marketing practices, Collings said. This part of the agreement made me laugh: the company had to make a new agreement with itself not to break the law.
OK, so what's the marketing lesson here: well, believe it or not its don't break the law — Especially When Peoples Health is on the Line
May 16th, 2010
Some marketing lessons from the news this week.
1. Humor by someone promoting a movie:
Woody Allen admits he hates the idea of growing older, the theme of his latest film You Will Meet A Tall Dark Stranger. “My relationship with death remains the same - I'm strongly against it,” the director jokes.
2. Play on words by a journalist making fun of a film:
Robin Hood - “Nothing to Crowe About”
3. Timing matters:
State superintendent of public instruction Tom Horne was successful this past week in getting legislation passed and signed by the governor banning ethnic studies in Arizona public schools. He has been going after a particular ethnic studies program in the Tucson school district for a number of years. Oddly enough, he decided to come to Tucson this week ostensibly to learn what students are actually being taught in these classes he's worked so hard to obliterate. Now you can call this all theater, but who is advising Mr. Horne, if anyone? Why not have come down here years ago when he started his efforts to sit in on some classes and be able to see he has seen them in person? That would have been easy to do and given his enemies less ammunition to claim he was ignorant of the actual programs and was was determined to shut them down without actually seeing them first.
3. Dumb luck:
The doctor accused of administering a powerful anesthetic that killed Michael Jackson helped stabilize a woman who fell unconscious on a US Airways jet to Phoenix.
Conrad Murray's spokeswoman says the doctor found the woman on Saturday with a very weak pulse and stabilized her condition using equipment in the jet's medical bag, including hooking her up to an IV.
A US Airways spokesman says Flight 641 from Houston was diverted to Albuquerque, N.M. because of a medical emergency. Spokesman Todd Lehmacher (LEE-Mach-er) says a doctor on board helped the woman, but declined to name the physician.
4. Money Helps
PHOENIX - The campaign against the proposed sales-tax increase is being buried under an avalanche of donations to groups in favor of the levy.
Reports filed Friday show more than $2.6 million has been collected for commercials, print ads, mailers and signs supporting Proposition 100.
Ax the Tax, the opposition, reported total donations of just slightly more than $1,200. That's 200 to 1.
The election is Tuesday.
May 5th, 2010
Selling more in your store
Rich Moret
A recent nationwide survey said 67% of all shoppers intend to return home with the item they are shopping for. But only 24% do. So for every 5 sales you make, another 9 customers will leave your store empty-handed. To be very specific, your existing store traffic can give you 2.8 times your current sales volume IF YOU JUST SELL THOSE CUSTOMERS WHO ARE READY TO BUY. And a good way to sell more of those customers is to hire a good sales trainer.
May 1st, 2010
Disney's Smart Marketing
Peter Schwartz
Walt Disney Studios held a free screening of Toy Story 3 on Wednesday, April 21st in Phoenix for 200 college students. But an hour into the film they threw on the lights and the show was over, as the audience cried for more. Why?
Well, the students had been warned. Disney is billing these screenings as the “cliffhanger” edition of the film — the audience gets to see everything but the chase-sequence ending. It is part of an ingenious marketing campaign to reignite original fans of the Toy Story films who are now in college, so that they come out and see the film, bring their friends and write about it on Facebook and Tweeter.
Disney Studios is rethinking its marketing, recently firing a dozen executives — including their marketing chief — to take greater advantage of social media in selling movies. They got the word out on Phoenix-area campuses by distributing fliers with a Web address that sent recipients to a Facebook page with screening details and a “Toy Story” video.
Does any of this make sense?
Well, the studio head states, ”It's a classic marketing effort — a flier with rip-off tabs — combined with modern outlets like Facebook.”
Judging from the reaction in Phoenix, the gimmick worked — students seem to love the film and are ready to go see the full film — at full price — including the ending.
Now, this is smart marketing. But what can we learn from it? Well, it shows that companies don't have to rest on their laurels or let technology pass them by. It also shows that “expanding the pie” always makes a lot of sense: why settle for your audience consisting of little kiddies, when you can make an audacious grab for a whole additional demographic group? Good marketing lessons for anyone. Kudos to Disney.
April 28th, 2010
Advertising - What it is and how it works
Rich Moret
“Advertising is what you do when you can't go see somebody. That’s all it is.” — Fairfax Cone
BUT WHAT SHOULD BE THE FIRST RULE OF GOOD ADVERTISING?
Don't be dull and boring. Be original. Be creative (as long as it sells). As my late friend Loren Markus put it: “Run the risk of being noticed.” By the way, that includes the risk of offending someone. So at the risk of offending some listeners, I will quote Mae West: “It is better to be looked over than to be overlooked!”
April 25th, 2010
PR Case Study
Peter Schwartz
This case study demonstrates how networking, some get up and go and marketing know how can land you new business and help another firm get back into the marketplace.
Schwartz & Co. was in LA networking and met with the owner of the largest PR and PA firm in the city.
After a couple of excellent meetings they were convinced that they could refer clients to us and that it would reflect well on them.
Within six weeks the founder and chairman of an institute that was opening a new office in Phoenix after being in Europe for 20 years. His longstanding friend at a major TV network had spoken with the agency we met with in L.A. who told him Schwartz & Company was the firm to go with in AZ.
After submitting a proposal, we waited — but then decided to just start working on the account by setting up radio interviews for them to discuss their new office.
They were so impressed with our initiative that they hired us and we went to work interviewing their staff and developing messages that were clear and relevant and would describe their services in a way that would resonate with target audiences.
We used this information to transform their outdated promotional materials and substandard web site into impressive marketing tools.
We also arranged for extensive interviews with TV, radio and print outlets across the state and nation.
By the end of this year long project the institute was “on the map” — getting calls for business, calls for more interviews, and even their own TV show.
In the short period of a year the institute had gone from unknown in the U.S. to an up and comer in the media and business worlds — all thanks to a multifaceted marketing effort by Schwartz & Co. that would never have been possible without that networking trip to L.A.
It was nice to bring some Phoenix business to Tucson — especially via Los Angeles.
April 19th, 2010
Savvy Marketing: Kitty Kelley
Peter Schwartz
Author Kitty Kelley has a new unauthorized bio on Oprah but she claims that everyone from Barbara Walters to Charlie Rose to Larry King have won't have her on to promote her book. Since Winfrey has established good will with others in the media there could be some truth to her claim.
So what is Kelley to do? Well, giving interviews claiming that the media establishment has ordered a blackout on her book, which I consider a savvy PR and marketing move: if you find a roadblock to your marketing goals — in this case talking about the content of a new book — then change the story — in this case asserting that people are out to keep the book from the public.
This will generate buzz and might help her sell more books than she would have in the first place — and even land her on some of those shows after all. So regardless of what one thinks of Kelley and her book, we're giving her some marketing kudos for attempting to change the story to achieve her goals — a good marketing lesson for anyone.
April 15th, 2010
“Walk a While in My Shoes Day” — Westin La Paloma
Peter Schwartz
This week Westin La Paloma resort's top brass left their business clothes at home and turned up for work in housekeeping and gardeners uniforms for their annual “Walk a While in My Shoes Day.”
The general manager worked as a pool attendant. The director of rooms worked as a bellhop and even the owners worked on the golf course.
Paloma states this effort builds morale and helps break down walls between staffers and managers — which all may be true — but it's also great marketing. People love this sort of role reversal, feel good story — and it didn't up in the Star by accident.
So we're sending some marketing kudos out to La Paloma for creating such an event and making sure that thousands read about it in the paper — contributing to a positive image for the company, which can only help business.
April 10th, 2010
How does not marketing affect your bottom line? Is there evidence that a company must market or die?
Rich Moret
Of course, there have always been those who incorrectly look at advertising as an expense instead of an investment. And, indeed, in the short run, the very short run, reducing advertising expenses may temporarily increase profits for a business that is already well known. This is commonly done when a business wants to sell and, thru smoke and mirrors, the business may well show an artificially inflated profit.
April 7th, 2010
Which sells better — the best product or the product with the best advertising? Beta or VHS? Do you really think that "All you need is talent...or determination" to succeed?
Rich Moret
When Ralph Waldo Emerson said “If a man can make a better mousetrap…the world will make a beaten path to his door”, he was wrong. There's a chance people will buy it, but how are they going to find out about it? And are they willing to pay more for it? Even if it's better AND it costs less, you'll still have to promote it. Bill Wrigley said: “Make a fair product for a fair price, then tell the world.” Derby Brown said: “The business that considers itself immune to the necessity of advertising sooner or later finds itself immune to business.” And always remember: “Advertise or the sheriff will advertise for you.”
April 2nd, 2010
Go Market Yourself! Radio Show
About the show and how to tune in:
Go Market Yourself! is a new local weekly radio show dedicated to explaining to people how marketing works and how best to use it to break through the clutter and grow their businesses.
The show will air live every Saturday from 2 to 3 p.m. on KQTH-FM The Truth 104.1. It will also be streamed live at www.1041thetruth.com. Shows will also be posted at www.gomarket-yourself.com.
Created and hosted by local marketing experts Rich Moret, President and Owner of Moret & Associates Advertising, and Peter Schwartz, President and Owner of Schwartz & Co. Marketing, Go Market Yourself! will cover marketing developments and trends, feature interviews with local and national business and marketing experts, and take questions from callers.
April 1st, 2010
Question and Answer with Moret and Schwartz
Q: Why a show on marketing here in Tucson?
Schwartz: Working in the field, it occurred to me that a radio show that really informed people on how to use marketing would be a worthwhile endeavor because most business people are not marketing experts, can not afford their own marketing agency or consultant, and would therefore benefit from such a show. And I'm confident it's going to be a lot of fun, too.
Q: So who do you think your average listener will be?
Moret: The majority of the economy in both Arizona and in fact the U.S. as a whole is driven by small and medium sized businesses. And I believe they will be the majority of our listeners, tuning in to pick up tips on how to set themselves apart — in this tough economy — from their competitors. And that's what we will be providing.
Q: What marketing territory will the show cover?
Schwartz: All areas, really. Advertising, sales, direct mail, guerilla marketing, internal communications, investor relations, public affairs, public relations, social media, special events strategy and planning, etc. We want to be as inclusive and comprehensive as possible, and between us Rich and I have the experience to offer that sort of quality programming.
Q: What will the tone of the show be?
Moret: Well, first off this will not be a “heavy” show: it will be an entertaining listen based on our respective personalities and chemistry as well as the great information that will be provided to listeners, including from our guests. We will be sure to discuss the winners and losers in marketing that week. Judgments — good and bad — will be assigned, something along the lines of the “Addys” and the “Baddys.” And yes, we will be naming names. I can't wait to get started.
March 26th, 2010
The Marketing Minute: What is Advertising?
Peter Schwartz
Advertising is all around us — even more so now with the advent of the Internet and cell phones. But what is it? Advertising is a form of promotion delivered through selected media outlets that require the marketer to pay for message placement.
Advertising promotes a product, service or event to its target audience. Advertising is written by advertising copywriters and finished with artwork by graphic designers. Advertising can appear on the Internet, in print, broadcast, outdoor and point of purchase promotions.
In addition, advertising has long been seen as a method of mass promotion because it allows for a single message to reach many individuals. Of course, unless calibrated correctly, advertising messages may not actually reach a target market to the extent desired. Research and planning are therefore crucial in advertising.
And as technology advances new media outlets offer more options for targeted advertising. Once perceived as a one-way form of message delivery, technologies are becoming available to let the population respond, more or less in real time, and this is a significant change. Over the next 10-20 years advertising will move away from a one-way communication model and become one that is highly interactive. It will indeed be a brave net advertising future.
And that's the Go Market Yourself! Marketing Minute on Advertising.
March 23rd, 2010
The Marketing Minute: What is Marketing?
Peter Schwartz
If you fit one classic definition of an entrepreneur — someone with a great idea who's under-capitalized — you may think marketing is something you do “later,” after the product is developed, manufactured, or ready to sell.
Not true: marketing is everything you do to place your product or service in the hands of potential customers, including through advertising, sales, public relations, pricing, and packaging.
So, if business is all about persuading people to part with their money, then marketing is all about finding and reaching the right people to persuade. So your marketing must be built around potential customers — otherwise it's all just theory.
A strong marketing plan can really help focus your energy and resources, but a plan created in a vacuum — based solely on your perceptions — will not help you. That's why market research, simple or sophisticated, is important. Research attempts to predict the future by studying past actions and current attitudes. It reveals what people have done, and extrapolates what people might do, not what people will do.
In the final analysis, imperative as research and planning are there's no substitute for entrepreneurial insight. As Mark Twain wrote, “You cannot depend on your eyes when your imagination is out of focus.”
And that's the Go Market Yourself! Marketing Minute on Marketing.