Market intelligence can be especially useful in shaping the tone and content of marketing collateral and company communications to appeal to specific groups of consumers without being irrelevant or offensive. Research can also help organizations working in highly sensitive capacities, such as hospices or charities for terminal illnesses.
For example, gathering opinions from a panel of leukemia survivors can help the marketing department of a leukemia awareness organization to focus on the issues most important to patients and to employ appropriately sensitive, supportive, and inspiring language in its communications. Market intelligence can be used to discover the best arenas in which to disseminate messaging and launch marketing campaigns.
Insights into the minds and media habits of consumers can help create a strategy using the most appropriate venues for marketing, public relations, social media, search engine optimization, and other campaigns. Read the Full Article. We will never sell or rent your email address to anyone. We value your privacy.
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Conducting Online Market Research: How to use online market research tools, including search techniques, tips, and tools for using the Internet for researching your competition and market. Online Market Research Tools The following techniques can be used to gather market information with the help of a few mouse clicks and keystrokes: You know how to do a simple Web search using search engines such as Google and Yahoo.
Take that a step farther by searching for "keywords" that people would use to find your type of products or services on the Internet.
See how much interest there is in these keywords -- and how many competitors you have in this market. Keyword searches can also help remind you of product niches that you might not have considered. There are other reasons to conduct keyword searches. A traditional search engine can also help you check out your competitors, their prices, and their offerings.
Maybe you can get publicity because you have a new or better product. Blogs are updated much more regularly than traditional websites and, therefore, they can be another gauge of public opinion. Search blogs by using blog-specific search engines, such as Technorati or Nielsen BuzzMetrics' Blogpulse. Another way to gauge public opinion is through online surveys.
While not as scientific as in-person or phone surveys that use a random sampling of the population, online surveys are a low-cost way to do market research about whether an idea or a product will be appealing to consumers. Now many companies offer to conduct online research for you or give your company the tools to carry out your own surveying. Research Tools and Techniques There are a variety of types of market research tools -- both offline and online -- that are used by many large businesses and can be available to small and mid-sized businesses.
Major categories are as follows: Audience research is aimed at discovering who is listening, watching, or reading radio, TV, and print media respectively.
Such studies in part profile the audience and in part determine the popularity of the medium or portions of it. Product tests, of course, directly relate to use of the product.
Good examples are tasting tests used to pick the most popular flavors—and consumer tests of vehicle or device prototypes to uncover problematical features or designs. Brand research has similar profiling features "Who uses this brand?
Psychological profiling aims at construction profiles of customers by temperament, lifestyle, income, and other factors and tying such types to consumption patterns and media patronage. Scanner research uses checkout counter scans of transactions to develop patterns for all manner of end uses, including stocking, of course. From a marketing point of view, scans can also help users track the success of coupons and to establish linkages between products. Also known as database "mining," this form of research attempts to exploit all kinds of data on hand on customers—which frequently have other revealing aspects.
Purchase records, for example, can reveal the buying habits of different income groups—the income classification of accounts taking place by census tract matching. Data on average income by census tract can be obtained from the Bureau of the Census. Post-sale or Consumer Satisfaction Research. Post-consumer surveys are familiar to many consumers from telephone calls that follow having a car serviced or calling help-lines for computer- or Internet-related problems.
Examine existing products / services. Look at other similar products / services on the market: Can you learn from them? What do they do well? What do they do badly?
Aug 28, · Most commonly, market research is viewed as a method to improve advertising and marketing initiatives and to develop products that are friendlier to specific markets. However, the true range of uses for market intelligence is much larger than most businesses think.
Browse All Activities - Great Ideas for Teaching Marketing. SWOT Analysis; KFC Zinger Launch; Which firm will conduct this style of market research? Which Research Design to Use? Defining the Market Research Problem; Should we conduct market research? Preparing a SWOT; Adaptive or Just Lucky? Market research, which includes social and opinion research, is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.
This statistic shows the annual personnel costs of the advertising and market research sector in Bulgaria from to In , the advertising and market research sector personnel costs. conduct market research before or during the life of a product to ensure its success. Give some examples of ways your school or organization has gathered data from its .