Advantages of Synthetic Data and Research in Marketing

The chapter explores how synthetic data and research offer benefits in marketing, such as cost savings, speed, and flexibility, making it a groundbreaking advancement in the field of market research. It discusses the use of synthetic data to overcome privacy concerns and the speed at which data can be accessed, emphasizing its role in democratizing access to market research for both big and small brands. The conversation also delves into utilizing synthetic research for segmentation, brand positioning, and testing marketing strategies effectively in order to make better strategic decisions in marketing.