There is an old joke always told be advertisers: “Half of the money spent on marketing is spent in vain. The problem is we don’t know which half.”
LJ Research and Horwath HTL have shown that market research in general, especially the market segmentation, gives guidelines on how to achieve the best return of investments in marketing. Even though the shown examples come from tourist destination marketing, the similar strategies can be applied to other sectors of industry and trade.
The key message is that in order to understand consumer behaviour and trends, detailed market research program is crucial in order to create a campaign based on reliable information.