Marketing research is a powerful tool that helps businesses win. For example, marketing research:
1. Established that a distributor did not implement “effective marketing & sales programs” as required by the contract. The unlawful termination suit was dismissed.
2. Demonstrated that equivalent “products and services” were priced at $2,400,000 vs the $200,000 defendent’s claim. The case was settled for $2,400,000.
3. Located facts that clearly established illegal pricing collusion. The defendents were found guilty.
Areas that benefit from marketing research
Most market research expert witnesses have an undergraduate degree in their specialty (engineering, business, marketing) and an MBA. They average over twenty years of business experience. Unfortunately, some lawyers do not recognize the value of marketing research…and put their cases at risk.
The keys to the selection and use of marketing research professionals include:
1. Define the hypothesis and the information required to win the case. This guides you in the selection of your market researcher. Most research is too broadly defined. The result is high cost and insufficient depth.
2. Define seven key words that define the background and experience you require from your market researcher. Such fine tuning is now possible with the Internet through the use of Expertlaw.com and other expert directories.
3. Use researchers with extensive (a) business experience and (b) litigation support experience.
4. One of the strengths of market researchers is attention to detail. This can also be a weakness. Be certain to prepare your researcher for the deposition and trial. This will help keep his or her responses concise and focused.
5. Secure several research-in-progress verbal reports. The information will provide you with valuable insight to the case and your strategy.