Back in 1954 in the classic business book The Practice of Management, Peter Drucker wrote:

"Because the purpose of business is to create a customer, the business enterprise has two — and only two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."

Yet how many businesses manage, staff, and budget their marketing departments as their ultimate competitive weapon? Are businesses failing to thrive because their marketing departments lack the proper “nutrition” in the form of market research to use to create innovative marketing strategies and tactics?

Affluent consumers in the U.S. have played a critical role in the world of luxury brands. With 11.53 million millionaires in the U.S. in 2013, the American luxury market is considered the largest across the globe. But, while these consumers may appear affluent, they don’t always feel that way.

In the past few years, affluent consumers have shifted their spending habits to align with how they feel about their wealth, and not what the numbers show on their income statements. American’s new attitudes toward wealth and affluence have disrupted the traditional model for luxury marketing in the U.S.

One of the world’s oldest professions is matchmaking, and given the role of technology in today’s world, it’s no surprise that the industry is booming. With an explosion of new websites and apps, the dating services industry has performed very well in the past five years and is continuing to grow as today's singles turn to the Internet for help finding love.

Read on to discover insights into the market for dating services and what the future holds for this industry.

Jack W. Plunkett, CEO of Plunkett Research, Ltd, highlights several e-commerce trends that are transforming retail, travel, entertainment, and communication.

At the recent Boomer Business Summit in Washington, DC, I shared the podium with Steve Parker, SVP Marketing, firstSTREET, a direct-marketing company targeting “Boomers & beyond” with “solutions to aging-related problems.” We spoke at a session entitled A Broad View of Trends in Commerce: Who, Why and How They Will Buy, and delivered the important news that Baby Boomers (aged 52-70 years) still represent an important consumer demographic that marketers ignore at their peril.

First get into child mode! This is your opportunity to shut the lid of your laptop, close your eyes, and use your imagination. Find your inner child. You cannot approach kids research in the same way as you do an adult project.

Let’s assume you are researching a toy. Imagine you are a child playing with that toy. Step into their shoes and imagine the scene. Who are you playing with, are you on your own, with a sibling, a friend, mum or dad? Where are you? In your room, in the lounge, or playroom, outside? What are you doing with the toy, what game are you playing? Are any other toys involved? Hover above the scene. How old are you? What’s this toy giving you? What could make it even more fun?

As the U.S. economy continues to recover from the effects of the recession, landscaping products such as lighting, pavers, heating elements, and synthetic turf will see increased demand from consumers and professionals. Healthy annual growth of 5.3 percent is forecasted through 2019. In 2014, decorative products were the largest category, with outdoor lighting receiving increased attention.

To find out what's in store for 2016, read on to learn about three major trends that are shaping the $6.3 billion industry for landscaping products in the U.S.

Christmas day in my family is still extremely fun because we have a number of children that are still young enough that their faith in Santa Claus hasn’t faltered. They write long wish lists to Santa, and they wake up early on Christmas morning hoping they have received all the toys they want most.

For parents all across the U.S., finding the top gifts with the best deals is crucial for keeping Christmas spending within their budgets. In 2014, 42 percent of shoppers planned on buying toys as gifts. In this blog, we will cover three major presents for children during the holiday season, including toys, electronics, and gift cards.

For consumers all across the U.S., the day after Thanksgiving marks the official start to the holiday season — and what better way to celebrate than buying presents? The term “Black Friday” was coined in the 1960s, and today it has become one of the busiest shopping days of the year. In the past few years, Friday is no longer the only shopping day promoted during Thanksgiving weekend. Now, consumers can get deals all weekend long on Small Business Saturday and Cyber Monday.

Thanksgiving Day includes many different traditions for families all over America. From cooking extravagant dinners to traveling to visit friends and famly, the options for celebrating the holiday are truly endless. But there is one common factor that affects families during Thanksgiving weekend each year: high spending.

Thanksgiving weekend is one of the most expensive of the year, and that’s not just because of the amount of turkey being purchased. Food, travel costs, and shopping on Black Friday are all contributors to high spending during the five-day span. In this blog post, we will look at some of the main factors that influence consumer spending patterns during Thanksgiving.