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marketing
the development and use of strategies for getting a product or service to customers and generating interest in it
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primary research
a type of research conducted directly on a a subject or subjects
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secondary research
a type of research carried out indirectly , through existing resources
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examples of primary research
- personal interviews
- telephone surveys
- written surveys
- focus groups
- observation
- tracking
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examples of secondary research
- online searches
- database searches
- industry associations, commerce, agencies
- review of books and records
- computer websites
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market research
is the collection and analysis of data regarding target markets, industries, and competitors
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market research is the process of finding out:
- who
- where
- what they want and need
- how behave
- size
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find out what customers think about:
- your product and service
- name
- location
- logo/brand
- proposed prices
- promotional efforts
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understand more about customers by asking:
- age
- income
- hobbies/interests
- family structure
- occupation
- benefit
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customer research
- surveys
- focus groups
- research reports
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industry research
- interviews
- observations
- tracking
- written sources for statistical data
- books/articles
- competitor websites
- trade associations
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market segment
a group of consumers or businesses that have a similar response to a particular type of product or service
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four basic ways to segment
- geographic - location
- demographic - population
- psychographic - opinon/lifestyle
- behavioral - purchase behaviors; loyalty or price response
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product life cycle
the four stages that a product or service goes through as it matures in the market - introduction, growth, maturity, decline
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positioning
distinguishing a product or service from similar products or service being offered to the same market
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how does marketing differs from selling
marketing identifies customers needs and wants; business will mean something clear and concrete, comunicate competitive advantage
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