ESSENTIAL QUESTION? HOW CAN I MAKE GOOD DECISIONS? Marketing Research - How can I make good decisions 1 Market Research and Customer Service

Marketing Research - How can I make good decisions 2 MARKETING RESEARCH

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Mktg Info Mgt System Marketing Research - How can I make good decisions 7 Systematic process of regularly: 1) gathering 2) recording 3) analyzing 4) distributing Data related to mktg goods/services

HELPS BUSINESS BY: Marketing Research - How can I make good decisions 8 Determine customer wants and needs Solve marketing problems Help anticipate future problems Increase sales & profits Offer products consumers want Help plan future promotions & sales

DIFFICULTIES Marketing Research - How can I make good decisions 9 Getting people to take survey Bias among groups (lie to say what they think you want them to)

TECHONOLOGICAL IMPACT Marketing Research - How can I make good decisions 10 Collect more info Distribute info quicker More professional More applicable Just in time

RESEARCH PROCESS Marketing Research - How can I make good decisions 11 Define Problem Obtain Data Analyze Data Recommend Solutions Apply Results

TYPES of RESEARCH Marketing Research - How can I make good decisions 12 Media Advertising – ex. Neilson ratings Product – point of sale, test mktg Sales Consumer – study behavior, attitude, motivation to buy Market – define potentional tgt mkt, investigate mkt for a product

Types of Data Marketing Research - How can I make good decisions 13 DATA TYPEDEFINITIONEXAMPLEBENEFITDISADVANTAGE PrimaryData you obtain yourself Observation, survey, experiment Applicable to your needs/wants Expensive and time consuming SecondaryData that already exists Internet, U.S. Govt census Quick and cheap Out of date, not applicable to your needs/wants InternalData from inside the business Store sales, Employee hours ExternalData from outside the business Competitor’s sales price, customers preferences

COLLECTION METHODS Marketing Research - How can I make good decisions 14 (Survey) Mall Intercept Focus Group Telephone Survey Mail Questionnaire (Other) Panel Discussion Experiment/Test Marketing Observation

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Focus Group Marketing Research - How can I make good decisions 19

Focus Group Marketing Research - How can I make good decisions 20

Focus Groups Marketing Research - How can I make good decisions 21

Telemarketing Marketing Research - How can I make good decisions 22

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TYPES OF SURVEY QUESTIONS Marketing Research - How can I make good decisions 26 Open Ended Forced Choice  Yes/no  Multiple choice (be sure to have e. other)  Rating scale (ex. 1-5 with 1 best)  Level of agreement (disagree, strongly disagree, slightly disagree

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SURVEY WRITING GUIDELINES Marketing Research - How can I make good decisions 29 Clear and brief Same scale for similar questions Design appealing to consumers Numbers Directions Personal & Demographic questions at end (more likely to answer) Use more than one type of question

Marketing Research - How can I make good decisions 30 Customer Service

Importance of the sales associate 45% of customers say they arc likely to spend more if the sales associate is helpful 18% of customers will walkout of a store if they don’t like the attitude of the sales associate

Good Business Satisfied customers are loyal customers who tell their friends

Steps of Selling Pre Approach 1. Approach the Customer 2. needs Determined 3. Product Presentation 4. Objections Handled 5. Close the Sale 6. Suggestive selling

Pre Approach Steps to take before walking on the sales floor

Pre Approach Knowledge things to know before trying to sell a product Product into: features, benefits, materials, country of origin, # in stock, sizes available, etc. Store into: hours open, where merchandise is located, who else is working, etc. company into: return policies, warranties, website into, who your target market is industry into: who you competitors are, what is the going price

1. Approach the Customer Greet customer, Rules-w/in 30 secs Eye contact, Smile, not close ended question If busy, let them know you will be with them in a second for get another associate to help.

2.Needs Determined Need to determine a customers needs (or wants)so that you can satisfy them Observe: look for customers looking at certain products or picking up& holding products fit products to customers by getting to know them Question: ask open ended questions to get the customer talking Listen: keep eye contact, give feed back, confirm details, be empathetic

Dead Ended us. Open Ended Can I help you?How cant help you? Do you like red or green?What color do you prefer? Is that the brand you want?Why do you prefer that brand? Are you barhopping for a gift?For whom are you shopping? Do you like this option?What features are important to you? Looking for anything special?What are your looking for? Do you like cotton?What kind of fabric do you like?

Refer somewhere If gone store or dept. doesn’t offer the product or service the customer needs always suggest alternatives that yo Do have 1 st special order it refer to a competitor-call ahead and give directions tell which aisle or dept. its in, call ahead to other sales person or escort them

3.Product Presentation (like show and tell) Tips: show no more than 3, medium price range, use layman’s terms FeatureBenefits Product attributes or detailsAdvantage or personal gain you get from each feature Ex. XM radio in you carEx. You Can get you favorite stations no matter where you an Traveling

Product Presentation cont. Display handle: be creative- ask customer to touch fabric or try on coat Demonstrate: be dramatic pour water on shoes to show water resistance Sales aids: samples, newspaper articles, drawings, charts, warranty into, Customer testimonials

Product Presentation cont. Involving the Customer: do anything you can to get customer physically involved test drive, taste, touch, etc. Involving the Entire group – friends, children, relatives, spouses Make small talk, provide a comfortable chair, offer a magazine, coloring book or toy

4. Objections Handled - THANKS Marketing Research - How can I make good decisions 43 T – thank the customer for bringing the problem to your attention H – hear the problem, listen carefully A – apologize for the inconvenience the customer has experienced N – need more info, ask questions K – know a solution, and be prepared to propose it S – solve the problem, or find someone who can

4. Objections handled Marketing Research - How can I make good decisions 44 Objection – concerns, hesitations, doubts or honest reasons a customer has for not making a purchase Excuse – insincere reasons for not buying or not seeing a salesperson

YOU take care of it Marketing Research - How can I make good decisions Do it YOURSELF: - Show features of a warranty - Show how to upload picts - Pick up trash - Check up on orders - Follow up with the manager - Look on a website

YOU take care of it, cont. Marketing Research - How can I make good decisions SATISFY the customer: completely satisfy them Do WHATEVER make THEM happy (not you or your boss) Don’t worry about sales/profit Don’t worry about checking with manager CUSTOMER is ALWAYS RIGHT (even when they are wrong or uninformed)

YOU take care of it, cont. Marketing Research - How can I make good decisions Be empathetic: - Sympathise with the customer - Even if they ARE wrong - They want you to UNDERSTAND them - They want you to LISTEN to them - They want you to APOLOGIZE for the way things are – even if you had no control over it and it was someone elses fault - Have the right attitude – POSITIVE - Show energy and enthusiasm, not laziness

YOU take care of it, cont. Marketing Research - How can I make good decisions DON’T do nothing: - Ask some one else to handle it - Check with a manager 1st

5. Close the sale – obtaining positive agreement to buy. Marketing Research - How can I make good decisions 49 Don’t be afraid to ask Buying signals – the things customers do or say to indicate a readiness to buy Verbal - “Oh, I like that” “That is exactly what I was looking for” “ How can I pay for this” Non Verbal – holding merchandise & smiling, taking it off a hanger and draping it over their arm, carrying it around with them

6. Suggestive Selling Marketing Research - How can I make good decisions 50 Selling additional goods to the customer Ex. Related merchandise, larger quantities, sales, new items Make the suggestions definite, not optional Ex. The manufacturer recommends this to take care of the product

Referrals Marketing Research - How can I make good decisions 51 Getting names and information of other interested customers

Relationship Building Marketing Research - How can I make good decisions 52 ***This is what its ALL about Ongoing communication with customers to prepare for FUTURE satisfying sales Say thank you even if they don’t buy Check on shipment of items Call about delays or specials Say customer name when paying (check/credit) Reassure of their choices