Please enable JavaScript.
Coggle requires JavaScript to display documents.
Market research/PROMOTION (market orientated (carries out market research …
Market research/PROMOTION
market orientated
carries out market research -
finds out customers' wants before product is developed and marketed
most modern businesses
use this
approach - more profitable + safer
e.g tastes, ads, make enough on demand
product orientated
main
focus of activity is on product itself - e.g innotive idea
crayola
primary research
collection of original data via direct contact
with
potential/existing customers
a.k.a field research
methods
:
interviews
- interviewer prepared questions for interviewee ; open or closed
pros
detailed info of customers' likes/dislikes
clear communication
- able to explain what intervewee doesn't understand
cons
interviewer could mislead interviewee
to answer questions inaccurately, or to interviwer's bias
harder to quantify answers given
time consuming + expensive
questionnaires
- primary research
pros
customers' opinion
can be obtained
detailed info
cons
questions must be well thoughout
or else
won't be accurate
time + money consumming
to carry out,
collating/analyzing also takes time
Consumer Panels
- group of people agree to provide info about a specific product or spending patterns
pros
provide detailed information about customer opinions
opinions on new products
cons
time consuming
expensive
biased - influenced by others
observation
cons
cant easily test new products
only provide basic figures NOT why customers decisions
pros
inexpensive
experiements
/
samples given out
pros
easy to set up - see customers 1st reaction
cons
people might not reveal their real feelings - fearr of offense
representive sample may not be found/not potential costomers
secondary research
inbfo that's
already been collected - available for use by others
a.k.a
desk research
e.g