What Is Online Marketing Research?
Online marketing research is the process by which companies use the Internet to gather data to evaluate how well a product or service is selling to consumers. The information provided by a careful market analysis conducted online can also identify popular trends that can assist a company in creating a strategy that will get better results. When used properly, online marketing research can be an effective tool that a company can use to experience higher revenues Using online market research data is one way that companies adapt existing products to meet the needs of consumers. It is also one of many ways that companies develop new products and services that consumers rely on. Companies carefully evaluate and use the data that online market research campaigns produce to influence the market via consumers.
Source:http://davechaffey.com/Internet-Marketing/C4-Strategy/Internet-strategy-process THE ROLE OF SOCIAL MEDIA NETWORKING
Social networking websites are becoming additional and more well-liked every day. Websites like these are primarily used as a social utility that can enable individuals to connect with alternative people. With Facebook, you will be ready to attach with friends, acquaintances, and with alternative people who you study and live with. With the advent of more social media networking websites, some companies are tapping into communities to gather important market behavior information. Some of the larger social media networks offer up general data about the registered users of these sites to benefit market research. The information gathered online in social media networks can be very valuable to marketing firms. When it comes to online marketing research, the general understanding is that since the market is mostly consumer driven, anything that can be done to influence consumers is positive for business. Influencing consumers stimulates the market. This can result in better products, plus higher sales and revenues for companies who best use the research data. Netnography
Netnography is the branch of Ethnography that analyses the free behavior of individuals on the internet that uses online marketing research techniques to provide useful insights. The term is believed to be first employed by R.V.Kozinets (1997). Sample netnographic analysis
Below are listed four different types of online community from a netnographic analysis by Kozinets (see Kozinets ref. below for more detail). BULLETIN BOARDS, which function as electronic bulletin boards (also called newsgroups, use groups, or usenet groups). These are often organized around particular products, services or lifestyles, each of which may have important uses and implications for marketing researchers interested in particular consumer topics (e.g., McDonalds, Sony Play station, beer, travel to Europe, skiing). Many consumer-oriented newsgroups have over 100,000 readers, and some have over one million INDEPENDENT WEB PAGES as well as web-rings composed of thematically-linked World Wide Web pages. Web-pages such as epinions ([www.epinions.com]) provide online community resources for consumer-to-consumer exchanges. Yahoo!’s consumer advocacy listings also provide useful listing of independent consumer web-pages. Yahoo! also has an excellent directory of web-rings ([www.dir.webring.yahoo.com]). LISTS (also called listservs, after the software program), which are e-mail mailing lists united by common themes (e.g., art, diet, music, professions, toys, educational services, hobbies). Some good search engines of lists are [www.egroups.com] and [www.liszt.com]. MULTI-USER DUNGEONS AND CHAT ROOMS tend to be considerably less market-oriented in their focus, containing information that is often fantasy-oriented, social, sexual and relational in nature. General search engines (e.g., Yahoo! or excite) provide good...