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Chapter Sixteen

Chapter Sixteen. Applications of Marketing Research. New Product Research. New Product Research Process Generation of new product concepts Evaluation and development of those concepts Evaluation and development of the actual products Testing in the context of the marketing program.

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Chapter Sixteen

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  1. Chapter Sixteen Applications of Marketing Research

  2. New Product Research New Product Research Process • Generation of new product concepts • Evaluation and development of those concepts • Evaluation and development of the actual products • Testing in the context of the marketing program

  3. New Product Research (Contd.) Need Identification • Perceptual maps • Social and environmental trends • Benefit structure analysis • Product users • Focus-group interviews • Lead user analysis Concept Identification

  4. New Product Research (Contd.) Concept Evaluation And Development Use Testing • Blind use test Predicting Trial Purchase Pre-test Marketing

  5. New Product Research (Contd.) Test Marketing • Designing the sell-in market test • Selecting the test cities • Implementing and controlling the test • Timing • Measurement • Costs of a test market Controlled Distribution Scanner Markets (CDSM) Projecting Trial, Repeat and Usage Rate Using Panel Data

  6. Pricing Research • Gabor and grainger method • Multi-brand choice method • Research for Profit-oriented Pricing • Research for Share-oriented Pricing

  7. Distribution Research Warehouse and Retail Location Research • Center-of-gravity Simulation • Computerized Simulation Models • Catchment Area Analysis • Outlet Location Research

  8. Distribution Research (Contd.) Number and Location of Sales Representatives • Sales effort approach • Statistical analysis of sales data • Field experiments • Computerized models of sales force size and allocation by market and by product line

  9. Advertising Research Criteria • Recognition • Recall • Persuasion • Forced exposure, brand preference change • On-air tests -- brand preference change Customized Measures of Communication / Attitude

  10. Advertising Research (Contd.) Purchase Behavior • Coupon stimulated purchasing • Split-cable tests Tracking Studies Diagnostic Testing

  11. Advertising Research (Contd.) Copy Test Validity • Qualitative Research • Audience Impressions of the Ad • Adjective Checklist • Eye Movement • Physiological Measurement

  12. Advertising Research (Contd.) Budget Decision Media Research • Measuring print vehicle audiences • Measuring broadcast vehicles audiences

  13. Brand Equity • Defined as a set of brand assets and liabilities linked to a brand, its name and symbol, that add or subtract from the value provided by the product The Assets Are • Brand Loyalty • Name Awareness • Perceived Quality • Brand Associations • Other Proprietary Brand Assets

  14. Measuring Brand Equity • Excess Price Approach • Replacement Cost Approach • Stock Price Approach • Future Earnings Approach

  15. Customer Satisfaction • Customer satisfaction research should be done at planned intervals so as to track satisfaction over time

  16. Customer Satisfaction (Contd.) Measurement Process • Define goals and specify how information will be used • Discover what is important to customers and employees • Measure critical needs • Act on the information • Measure performance over time

  17. Total Quality Management • The process of managing complex change in the organization with the aim of quality improvement

  18. Total Quality Management (Contd.) The Characteristics of an Organization That Has Successfully Implemented TQM • Everyone in the organization must be trained and educated continuously • Establishment of quantifiable measures of progress • Formation of cross functional teams that are empowered and motivated • Use of formal tools, techniques to maintain quality

  19. Information Requirements • Measurement must be specific • Track the correct measure • Measure the outputs of the highest value to the customer • Measure process and results • Anticipate future customer and process requirements

  20. Database Marketing • Database • Definition • Need • Elements • Marketing Databases for Marketing Intelligence

  21. Ways to Gather Consumer Data • Rebate Cards • Suggestion Cards • Warranty Registration Cards • Free Subscription Offer Cards • Directly Ask Consumers

  22. Types of Databases • Active • Inactive • Inquiries • Value Added Databases • Overlay of Information

  23. Identifying Most Profitable Customers • Recency of Purchase • Frequency of Purchase • Monetary Value of Purchase • Validating Prospect Profiles • Benefits of Database Marketing

  24. Relationship Marketing Relationship Marketing Incorporates Three Elements • Identifying and building a database of current and potential consumers which records and cross-references a wide range of demographic and purchase information • Delivering differential messages to these people through established and new media channels based on consumers' characteristics and preferences • Tracking each relationship to monitor the cost of acquiring the consumer and

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