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Immunity from competition doesn’t apply when it comes to
business. According to the rules of the CBS reality show, “Survivor,”
players must band together and use their collective wits to survive.
In the real world of business, however, players usually go it alone.
It takes endurance, and they must keep close watch on the competition
and keep pace with changes in market climate and terrain to come
out on top.
Your competitors may wish they could vote you out of business,
but your consumer “tribal council,” and how well it
responds to your services or products, ultimately dictate your failure
or success.
When a company is faced with declining revenue or lack of brand
awareness, a well-designed action plan that includes consumer-targeted
market research helps to ensure that your compass is pointed in
the right direction. Research dealing with customer satisfaction
keeps companies in touch with their customers’ expectations,
giving them a leg up on the competition.
Ultimate survivor Richard Hatch, in large part, took home the million-dollar
prize because he knew how to use available tools on Pulau Tiga island.
Businesses who understand the power of market research know that
it’s a valuable tool for maximizing return on investment.
It focuses on where advertising dollars are best spent and can even
help to ensure the survival of a new venture – before the
campaign is launched.
Being the ultimate survivor in business is all about spending your
money wisely and keeping your customers coming back. Are you properly
positioned, providing value, communicating clearly, reaching your
target market, and exceeding expectations for quality and service?
Conducting market research will tell you how the consumer tribal
council is likely to vote. ‡
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Do
you have what it takes to be a Survivor?