Update note: Sorry I was made aware that the links in the article did not work properly. The problems have been fixed.
If you have been reading my blog for a while, I hope you have come to the conclusion that the type of research marketing academics do is more than just nerdy math or lab experiments. It can be highly relevant to marketing practice. In my career as a marketing professor, I have collaborated successfully with businesses large and small. Such collaborations have been highly gratifying for both the businesses and I. If your business has not been tapping into the marketing academic community around you, you may be missing a great opportunity for knowledge discovery and innovation. In this article, I would like to offer some advice on how to leverage the academic community around you.
Why Collaborate with the Academic Community?
There are many benefits to collaborating with the academic community. I will highlight some of the key benefits here:
- Access to cutting-edge research methods and tools that you and your staff may not be well versed in. Examples include sophisticated data analytic models, complex experimental design, clever primary data collection methods, etc.;
- Building reliable and generalizable knowledge based on validated theories rather than just a hunch;
- Designing and conducting rigorous scientific tests to yield high-quality results that you can trust;
- Gaining a fresh, non-conventional way of looking at your problem because of different academic vs. practitioner thinking styles;
- Cost savings compared to hiring external consultants, as many academics’ primary motivation is to publish instead of monetary goals. The mantra in the academic community is Publish or Perish!