Welcome to the Marketing Lab
Imagine this. You were just appointed as head of a product development team. The company has what they think is a great idea for a new product, and your job is to carry it out. Even if you have a small marketing team with decent experience, there is a lot to be done before the product can launch. You have to decide what materials consumers will be motivated to buy, how to reach the target consumer, and even who the target consumer is for that matter. After picturing this, how do you feel? Stressed? Overwhelmed? Anticipating your vacation after everything hopefully works out?
Rest be assured my friend; the Marketing Lab is here to help. We’re here to make you the hero. In essence, we turn marketing research into strategic decisions. Our team of top-tier undergrad and graduate students, supported by marketing professionals and our director, Matt Madden, will help you crush whatever your next project entails.
How the Marketing Lab Can Help You
The Lab focuses on two main functions of marketing to drive decision making, research, and strategy. As an affiliate of Brigham Young University, the Lab has a multiplicity of resources to conduct marketing research including the following:
Competitive Analysis
Consumer Insight
Pricing Comparison
Quantitative & Qualitative Surveys
Conjoint Analysis
Eye Tracking Research
Focus Groups
Taste Testing
Text Analysis
Product Testing
Doing great research means nothing if it doesn’t lead to a growth plan or developed business strategy. The student professionals in the Lab provide thought-leading expertise on marketing strategy for things like:
Brand Strategy
Market Segmentation
Targeting
Positioning & Messaging
Persona Development
Pricing Strategy
Experiential Marketing
Social Media Strategy
Website Optimization
The Marketing Lab uses these strategies to complete projects with recommendations that, when acted upon, can help businesses win market share, understand brand image, increase the bottom line, and realize product breadth and depth. Sounds pretty good, right? Of course it does. Check out what Doug Anderson, a Senior Marketing Manager at Adobe, said about his experience working with the Lab.
“I am beyond impressed with the BYU Marketing Lab. We had an all-star crew from the Lab help us with a competitive messaging and positioning project and we were very happy with the results. They gave us a breadth of information, actionable insights, and presented the findings to a room full of tough executives with confidence. The visuals were on point, and we will be acting on the recommendations they gave us. I highly recommend the BYU Marketing Lab.”
In addition to Adobe, the Lab has had the opportunity to work with a variety of other awesome companies including Boley, Union Pacific, Logitech, and Baskin Robbins.
The People at the Lab
Unlike most agencies, the Marketing Lab is a place for students to learn and expand their skills in the marketing field. The best undergraduate and MBA marketing students from a top 20 business school are put on teams based on their strengths and the project needs. The opportunity to gain real experience in school is invaluable to the students that are able to work at the Lab.
Matt Madden, former VP of Analytics with the Modellers and Global Head of Analytics at Hall & Partners, directs the Lab and ensures that only the best students are given this opportunity. Other professors at Brigham Young University offer their expertise and experience throughout the project so that the most-effective recommendations can be made to every client.
Over the past 5 years, the Marketing Lab has delivered high-quality consulting services to numerous clients. Not only is hiring the Lab a great way for you to get great insights for your company but also you can give back to students and the BYU community. Reach out today to find what recommendations the Lab has for you.
We hope you enjoy this blog as we showcase several client cases we’ve worked on, analyze different marketing topics, and hear from Marketing Lab alumni on how the Lab has helped their career. If you have suggestions for our blog content, feel free to send suggestions to byumarketinglab@gmail.com.