E-marketing Research Conducting Market Research in E-marketing

Marketing Research “…Researching the whole of a company’s marketing process” - Palmer

The Marketing Research Process 6.Do managers approve of the research? 7.Collect the data 8.Analyze the data 9.Check for errors 10.Write the final report 1.Define the problem. 2.How do we collect the data? 3.What kind of sample method? 4.How will we analyze the data? 5.Determine budget & timeframe

Sources of Data Primary –Conducted from scratch –Questionnaires –Interviews –Internet sites –Mystery shopping –Focus groups –Projective techniques –Product tests –Diaries –Omnibus Studies Secondary Already exists in some form –Trade associations –National & local press industry magazines –National/international governments –Websites –Informal contacts –Trade directories –Published company accounts –Business libraries –Professional institutes –Omnibus surveys –Previously gathered marketing research –Census data –Public records

Situation Analysis for E-marketing Internal vs. External Perspectives Where are we now? Internal Audit Competitor Research

The 5Ss of Internet Marketing 1.Sell- Grow sales and attract business using digital technologies. 2.Serve - Add value through the benefits of the Internet (such as speed). 3.Speak - Get closer to customers by making your business available to them at home, work or on the go with mobile technologies. 4.Save - Reduce costs by using information technologies to make your business more efficient. 5.Sizzle - Extend the online brand (or create a new one) - remember sell the sizzle not the sausage i.e. the benefits, aesthetics or value of a product or service rather than its features. Smith & Chaffey 2006

The Customer Life Cycle (CLC) Considering the creation and delivery of lifetime value to the customer. Products customers need throughout their lives Market oriented rather than product oriented Key stages of customer relationships are considered.

SWOT Analysis - Ranked & Weighed Used to audit the organization and see where the strengths and weaknesses are First stage of planning Strengths, Weaknesses, Opportunities, Threats Key benefit - flexibility Can use POWER SWOTPOWER SWOT

COMPETITOR RESEARCH Use Search Engines Hunt for Trade Associations Ask Your Target Market Newsgroups and Post Queries Read Online Competitive Information Study Demographic Reports Original Source Material Monitor Special Interest Material Use a Professional Researcher

Customer Relationship Management The development of a relationship between the customer and the business that results in a mutually beneficial relationship The business serves the customer at the different stages of the customer’s life cycle and the customer stays loyal to the business because of the relationship, which brings higher revenue to the business.

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