Before coming up with policies that could shape the economy and support development across all sectors, the Nigerian Marketing Research Association (NiMRA), has stressed the need for government to work closely with market research agencies in the country.

The predictive function of marketing research allows data to be used to predict or forecast the results of a marketing decision or consumer action. It gives one the ability to predict and create the future. Government can also use predictive research to determine how a particular decision will affect the citizenry either in the short or long term as the norm in the developed world.

This standpoint formed the views canvassed at the maiden edition of the Market Research Business Forum, with the theme: Innovate with Evidence. The forum shared real time experiences and information that drive businesses benchmarking the power of data, insight and intelligence.
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The maiden edition frowns at the lack of use of data in most of the government policy decisions noting that even when some government agencies conduct research, most of the findings of such investigations are not implemented. To move forward and come up with policies that address the aspirations and yearnings of the masses in the 21st century economy, NiMRA therefore called on government agencies to collaborate and work closely with the organisation and member agencies to come up with decisions that will generationally change today.

The diagnostic function of marketing research as being particularly helpful in many situations was buttressed. Here, data analysis techniques are used to investigate relationships and phenomena within data that have been gathered through marketing research.

The Marketing Director, Friesland Campina Wamco, Tarang Gupta, speaking on what makes a good strategy, said that winning on its own is not a strategy but that elements of winning starts with diagnosis, which defines and explains the nature of the challenge. He said this is why NiMRA research, insight, intelligence are so key because a good diagnosis simplifies the overwhelming complexities of reality by identifying certain aspect of the situation. “There must be a guiding policy and finally a coherent action and that’s what begets a good strategy,” he said.