MARK 40023 x Service Marketing MUNSAYAC, JOEL ZAPANTA, ARLYN LEANE M. BSBAMMOUMN 2-APOLYTECHNIC UNIVERSITY OF THE PHILIPPINES Assignment # 3 ante 6. 1. What is marketing research? = »* Acompany’s go-to-market strategy is informed by marketing research, which is the process of acquiring information about the ideal customer and larger market. You may gather information from current or former customers, members of your target market, or even the marketing efforts of your competitors as part of this study. It helps a company by giving information on what customers like and hate, as well as what they claim to want. They may help a company make better choices by providing both quantitative and qualitative information. In marketing research, data collection and interpretation are key responsibilities for market researchers. In most companies, the marketing department keeps tabs on the company's clientele (typically in conjunction with sales). When it comes to doing market research, marketers have an advantage. Marketing, in general, has the skills required to decipher the results of market research. Even the smallest businesses may benefit from hiring an experienced market researcher or analyst to help with the preparation of marketing research, ensuring that the findings are logical rather than impulsive. 2. Enumerate what are the most common research objectives * The study goals include a list of the kinds of information the researcher bt wants to collect from the survey, as well as a description of the target y population and the pertinent comparisons. The research team is directed by the survey project plan's major objectives, which are conveyed throughout the plan. 1.Your research objectives should contain a measurement target, which explains what your research team is trying to accomplish. The risk may be minimized by quantifying market data when making a large, costly, or risky business decision. 2.What are the research objectives? They are simply summaries of the information you want to gather. Market research objectives include brand awareness, brand image, customer perception, customer attitudes, buyer behavior, product satisfaction, consumer experience (both good and bad), and intent to purchase behavior. A project's objectives should be tailored to its specific needs.POLYTECHNIC UNIVERSITY OF THE PHILIPPINES 3.When looking for information, you must establish a target audience that can provide it. There are many different ways to survey to acquire the data you need for a successful project. Whenever you conduct a survey, make sure the questions you choose are specific to the people you're surveying. = Don't ask technical inquiries to non-technical people while undertaking technological research, for instance. 4.Comparing data from previous years, comparing different populations, and benchmarking data against current market data may all be useful in various situations. 3. What is SERVQUAL? define it * SERVQUAL is a research technique that collects customer expectations and perceptions of a service along with five characteristics that are assumed to describe the quality of service. Based on the expectancy- disconfirmation paradigm, SERVQUAL defines service quality as the extent to which customers’ pre-purchase quality expectations are confirmed or disproved by their actual service experience judgments. SERVQUAL is 4. Enumerate the variety of servqual purposes * Customer Satisfaction Requires High-Quality Products. Customers that are satisfied with your product or service are more likely to return to you in the future. High-quality products are essential for long-term success and profit. They also allow you to raise and maintain your rates. fy iit is the quality of service that determines customer satisfaction. The i quality of a company's products or services has a direct impact on its success or failure. Because the product or service they provide influences their brand, many large organizations put great importance on quality. 2.Training. Personnel training has long been recognized as the most a important factor in increasing service quality. Employee training hours j —_ and customer service quality have been linked for years, according to several studies. 5. Discuss ethics in an undertaking of marketing research 1. goodwill 2. trust 3. professionalism 4. Confidentiality * Market research ethics dictate that researchers must do and assess their work without dishonesty to ensure the validity of their findings. At every step of the research process, a market research business guarantees that participants and customers are handled with respect and dignity.POLYTECHNIC UNIVERSITY OF THE PHILIPPINES 1.It is Goodwill's goal to be the gold standard for ethical behavior in the business world. We believe that a company's reputation is built on its honesty, both internally and externally. Having a company's reputation for honesty is an advantage. 2.Relationships between a company and its customers, suppliers, workers, and other stakeholders are built on trust. Trustworthy people must be reliable and honor their promises. In the workplace, trust is built when an employee's ethical goals are matched by their ethical actions. 3.Moral goals such as honesty, fairness, equality, dignity, variety, and individual rights may all be exhibited via ethical conduct. A person's professionalism is described as the conduct and attributes that identify or differentiate a professional or professional individual. 4.All information that is desirable to hide may be protected by the use of confidentiality. That which is known as "maintenance of secrecy" refers to the company's commercial or technological procedures not being made available to the general public. 6. Define upward communication « Employees at all levels of a company may communicate directly with top management to offer comments, complaints, or ideas regarding day-to- day operations through upward communication. Chai 1. What is the goal of relation marketing © The goal ot relationship marketing (also known as customer relationship marketing) is to create strong, even emotional relationships between a company's customers and its brand to encourage repeat business, free word-of-mouth advertising, and customer data that may generate leads. 2. Discuss the four (4) retention strategies Financial bond, Social bond, customization bond, and structural bonds * To decrease staff turnover, avoid attrition, boost retention, and encourage employee involvement, a corporation develops and implements a retention strategy. 1. The first stage in building customer loyalty is to use financial bonds, also known as frequency marketing or retention marketing, in which the service provider uses economic incentives to do so. 2.There are many social bonds formed as a result of the trading process. Individuals may create strong personal relationships that can increase the link between two firms via social contactPOLYTECHNIC UNIVERSITY OF THE PHILIPPINES 3.The customization bond's goal is to inspire customer loyalty by getting to know each customer intimately and creating solutions tailored to meet their unique demands. 4.There is a structural bond between customer interactions and the delivery of service-delivery systems, rather than depending only on the interpersonal skills of individual service providers. 3. In your own opinion.. are you agree with the belief that "customer is always right" why? * It is said that "the customer is always right." Based on the actual world, regulations, and all the other factors involved, there may be contradictions in this. It was once said by a wise person that the customer is always right in their own eyes. Calls like this frequently indicate that the person calling has a misunderstanding of some kind, such as an error ina policy or a bill, and wants you to fix it for them." As a result, you've already read the rules. "They're all you need to know about them. When it comes to customer service, it's casy to do things wrong. Avoid telling them they're wrong; let them see they are." Saying "no, you're incorrect" to a customer is one of the most harmful things you can say in customer service. With practice, you'll be able to tell them "no" ina manner that they understand without a fight, and most of the time, they'll respond, "Thank you," as a show of gratitude for your bt assistance."