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Marketing Research, is, which involves, which involves, which involves,…
Marketing Research
Very Important to have
Outsell Competitors
Target dissatisfies customers
Find an undeserved customer segment
Identify unaddressed customer needs
Lower Business Risk
Testing new designs and products before launching
Finding out why customers don't come back
Getting insights of problem areas
Create Relevant Promotional Materials
Know where to advertise
Buying ads on social media
Placing flyers and posters
Targeting ads
Easily spot business opportunities
Forming partnerships with other businesses
Creating profitbale order upgrades
Finding new locations to sell to
Set better goals for your business
Decision-making becomes simple
10 Key benefits
Minimising any investment risk
Helping businesses strengthen their position
Identifying potential threats and opportunities
Helping discover your's and your competitors strength and weaknesss
Facilititating strategic Planning
Helping spot emerging trends
Assisting businesses to stay ahead of the competition
Providing revenue projections
Helping to evaluate the success of a business against benchmarks
Focusing on customer needs and demands
10 Essential Methods
Focus Groups
interests
Occupation
Demographics
Surveys
Dichotomus
Multiple Choice
Checkbox
Rating Scale
Likert Scale
Matrix
Demographic
Social Media Listening
Identifying of topics of interests
Analyze relevant social post
Interviews
Communication
Clarification
Experiment and Field Trials
Participants' Environment
Observation
Natural Environment
Controlled Environment
Competitor Analysis
Marketing Perspective
Content produced
SEO structure
PR coverage
social media presence and engagment
Product Perspective
Types of Offerings
Pricing Structure
Public domain data
Buying Research
Saves time
Get data in a format that makes sense
Saves effort in cleaning and organisation
Analysing Sales Data
Gain better picture of action and consequence
Understand customers
Market Research Strategy for the Covid-19 era
Long-range considerations
Maintain or start continuous data collection
Understanding the impacts of these ongoing fluctuations
How to tailor their messages and offerings in response
Avoid strategic market research, focus on short-range tatics designed to measure change
Introducing trackers
Retooling existing Research
Immediate Concerns
Be sensitive in viral hot spots
Pausing research about behviours that require leaving home
Don't ask painful/triggering questions in those periods
Not overtax health care providers in hot sopts
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