Published By Martin Aranovitch

The habit of over-thinking and obsessing over market research is referred to as “analysis paralysis.” If you start spending too much time figuring out market segmentation, positioning, objectives, and primary and secondary targets, it can bring your entire marketing efforts to a complete standstill ...

Market Research is about reducing uncertainty and increasing understanding about people. It uses a sample of the real world to enable you to understand and confidently predict what people think feel or believe about an issue, product or service.

When trying to formulate a marketing plan, market research is a crucial step in identifying who your target is and how and when you should speak to them. Spend too much time obsessing over the market research and it can delay you indefinitely.

While market research in an important part of the marketing process, you have to be careful not to over-analyze and lose track of your objectives. Take some of the knowledge you’ve gathered from the market research you’ve already completed, and implement it. Don’t worry if it’s not perfect. You’ll have plenty of time to perfect it as you go along. Always remember that market research is an ongoing process.

The habit of over-thinking and obsessing over market research is referred to as “analysis paralysis.” The symptoms of analysis paralysis are quite common: constant number crunching, re-hashing the same information and facts over and over again, lying awake at night, constant distraction and gross inability to make a decision and take a clear direction forward.

If you start spending too much time figuring out market segmentation, positioning, objectives, and primary and secondary targets, it can bring your entire marketing efforts to a complete standstill.

Nothing creates fear - and analysis paralysis - quicker than to be told that whatever decision is made will result in failure or success - with no other possible outcomes. Creating a either/or success or failure situation will almost certainly result in careful - read lengthy - analysis and preparation. What was important in the past, may no longer matter in a future that takes us beyond ego, emotion, and analysis paralysis. Don't get stuck in fear. One needs to find a place between analysis paralysis and utopia myopia where facts/figures/data along with experience/instinct can optimize actions.

The best cure for analysis paralysis is very simple: take action. Start to apply some of the knowledge you’ve collected from the market research you’ve already accomplished, and put into practice. Stop thinking and go do it now!

Market research is a valuable tool, and as market conditions are constantly changing, you must continually learn and adapt. The important lesson to be learned is to make your market research help you achieve your goals, not to let the research determine what those goals will be. You must collection information with a purpose, with a goal in mind.

By conducting research, then acting, then revising your research, then acting upon it again, etc., you can stave off the panic and inertia that comes along with analysis paralysis.

About:

Martin Aranovitch is a successful SME (small to medium enterprise) business coach, sales trainer and web business entrepreneur. Visit his site www.SocialBusinessWeb.com  to download a FREE report on How To Profit With Your Own Social Networking Site .

Source: http://www.portalfeederpro.com

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