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The Wharton Study was a comprehensive study of Small Business marketing done by the University of Pennsylvania's Wharton (Business) School.
The study was underwritten by Pepsi, Frito-Lay, Colgate-Palmolive and a host of other big companies who collectively invested more than a million dollars so that Wharton could track the marketing experiences of several dozen small businesses in a range of industries.
These subject-businesses were scientifically monitored and their marketing results were measured for seven years. The final report totaled more than 2,500 pages and yet reached only three incontrovertible conclusions:
There is no correlation between dollars invested and sales gained as a result.
The sales message drives all sales.
Sales will increase (often exponentially) with repetition of an effective sales message.
Significance: In simple terms, The Wharton Study validated what we have learned in the field over the years, namely that the amount of money you spend will not determine your success. Your success is dependent upon the quality of your sales message. Develop a good message. Deliver it often. Adjust the message as needed. Repeat the process continually and you can increase sales - dramatically.
Simple conclusion: Major sales growth is achievable… without spending a lot of time or money.
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