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Unit IV Marketing Research
Unit IV Marketing Research
MARKETING RESEARCH
Marketing research
Raw data does not make any sense and only when it is analysed, we get
information, which is meaningful. Before anlaysis, the raw data is processed to
ensure that we have all the relevant data. Processing implies four activities:
The process of examining the raw data to detect errors and omissions and to
correct these when possible is called Editing. Coding is the process of assigning
numerals or other symbols to the data in order to put them in limited number of
categories.
Market demand.
Company demand
Market demand for a product is the total volume that would be bought by a
defined customer group, in a defined geographical area, in a defined period of
time, in a defined marketing environment, under a defined marketing programme.
Company demand is the company’s estimated share of market demand at
alternative levels of company marketing effort.
Advertising research:
Every year companies spend huge sums of money creating advertisements and
buying media time and space. They hope that these marketing communication
efforts and expenditures would benefit their businesses by influencing consumer
choices.
Target audience
Communications media
The message-element
Advertisers use pre-tests and post-tests to ensure that the advertising money is
used wisely to achieve predetermined objectives. Testing can help in judging the
effectiveness of advertising strategy or medium. Pre-testing is used to increase
the likelihood of creating the most effective advertising messages.
Market researchers, ad agencies and many others have been trying to figure out
what consumers want since the opening of the first store.
Distribution research:
The study has been now divided into supply chain research and also on logistics
research. In the case of supply chain, following are included for research:
Logistics play a crucial role in business as it is involved in the entire supply chain
starting from purchase of materials to supply of finished products.
Process Mapping: It is a pencil and paper tool that helps to visualise and
understand the flow of material and information as a product makes its way
through the supply chain. Some of the main benefits of this tool are, that it helps
to identify waste in the process, supporting the analysis of the linkages between
information and material flows and serving as a basis for the implementation
plan.
1. Feature level
2. Solution level
3. Hidden competition
INTRODUCTION:
Relationship marketing:
a) Supplier market
b) Recruitment market
c) Referral markets
d) Influence markets
e) Internal markets
Loyalty programmes:
Types of CRM:
CRM addresses elements like lifetime value, quality service, systems, customer
data, and leadership attitudes. There are three types of CRM. They are:
Operational CRM provides the biggest surprise, with its inclusion of back-office
and legacy applications under operational CRM. Customer relationship
management and front office have always been considered synonymous, with
the two terms being used interchangeably. They are all elements of an overall
customer-facing system.
Analytical CRM is what delivers the profitability payoff. Analytics takes the mass
of relationship data throughout the relational enterprise and puts it into a form
that can be used to add proactive value. This means that operational results,
product information, and marketing data must be integrated using data
warehousing and reporting tools.