Marketing Management

Topics: Marketing, Marketing research, Market research Pages: 12 (2995 words) Published: May 31, 2011
If you are working in a super market, what techniques/ tools you will use in data collection. How are you going to analysis the data and make inferences? How will you finally apply your market research to improve sales and win over customers?

When thinking of market research, surveys are most likely the first technique that comes to ones mind. However, surveys are a quantitative research and, in order to understand customer behavior and the social and cultural context in which our business will operate, we will need to perform some qualitative research as well.

Qualitative methods are most certainly a more appropriate option when in need of researching patterns and attitudes in customer behavior, understand the depth of the environment around the customer, and understand the cultural characteristics then influence a customer - especially when the marketer is not familiar with the locality.

There are certain situations where qualitative research alone can provide the marketer with all insights needed to make decisions and take actions; while in some other cases quantitative research might be needed as well.

Here I present the main qualitative techniques and see how and where they can be employed.

1. Know Your Customers

2. Observational and quasi-observational techniques;

3. Projective techniques and

4. In-depth interviews

1. Know Your Customers

Having a competitive advantage over other businesses targeting the same market as yours is a basic, survival must: many choose to develop longterm relationships with their customers, in an attempt to create such competitive advantage. Knowing your customers is crucial, and it is quite a different thing from knowing their buying behavior. It is every marketer's dream to have real, up-to-date information about consumers: their preferences, opinions, attitudes, beliefs, interests, education level, behavior are the base of understanding their needs.

Businesses often employ Marketing research to determine the consumers' degree of acceptance of a new product, and the reason behind this is the fact that launching a new product without a real demand would involve much more costs than actual market research. Plus, a failed product launch is not only damaging for a business' finances but also its image and reputation.

Any marketing research upon consumers' profile should address at least the following questions:

Who makes the market of a product?

A company active on any given market must ask itself who its customers are. Are they mostly young people, or perhaps elderly? Women or men? What would their income levels be? This is the demographic information that can be a starting point in creating a customer profile.

What do people buy?

Is there a certain product consumers seem to prefer? Can we detect a trend of migrating to a given product? Will the market accept new products or changes in existing ones? These questions could offer a perspective on the mechanisms triggering buying decisions; the answers could indicate just how open to changes customers are.

Why do people buy?

Many businesses ignore the reasons why their customers choose one product or another. While we all know that impulse buying is a reality, most purchases are still made on reasons of benefits, value, satisfaction. Hence, we should ask ourselves "Why certain products are more popular among consumers and are perceived as being superior to others?"

Who takes the buying decision?

It is critical to know who is actively involved in the buying process, as the users of a product are not necessarily the ones to buy it. For example, food items destined to children are normally bought by a parent, which means the advertising messages should be aimed at parents and not at children. Identifying the real decision makers is an important part of any consumers research study.

How is the buying decision taken?

What are the reasons followed by consumers when making a...
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