marketing
marketing is based on stereotypes. what types of factors can affect this ?
- age
- gender
- income
- location
- lifestyle
what are two methods of primary research
- FOCUS GROUPS
- TRIALS
describe focus groups
a gathering of 6- 20 people to provide feedback
Typically includes and trained moderator leading a 30-90 min session with prepped questions
( - engagement questions
- exploration questions
- exit questions )
describe trials
the process of testing out a profuct with a smaller group before realisjng to a larger market
used for a new product or a changed version
smaller group to gain feedback
ADVANTAGES
- data is from real customers
- allows change
- generates interest
- reduces risk
DISADVANTAGES
- not representative
- costly and time consuming
- delays full launch
- competitive awareness
types of secondary research
- printed
- internal
- census ( every 25 years)
- digital
marketing definition
to find out the needs and wants of customers, demonstrating how a business fufills those needs and wants in order to increase sales
what are the three roles of marketing
role one - research
role two - advertise
role three - increase sales
what do you need to know about your customers
- what they are willing to pay
- age
- gender
- how often they would buy
- where they woukd purchase
whats the purpose of market research
to gain a deeper understanding of your market by identifying customer needs
finding gaps in the market
reducing risk
allowing for better decisions
how to identify customer needs
conduct resarch on
- price
- quality
- choices ( three most beneficial)
convienience
what are the two types of market research
- desk research
- field research
decrive desk research
- using research another organisation has already collected
- books,newspapers,government publications
describe field research
- collecting informationfor yourself for the first time
- might do themselves or hire a research organisation to collect info on behalf