2. Presented By: Pam Shaw B.Comm., RYT, PTS, PMI, CAI, FIS

3.  Marketing vs. eMarketing  Market Research  Gathering Information  Types of Research  Online Implications of Research  Marketing Strategy  Target Market  Goals & Objectives  Strategic Planning & Execution  Evaluation  Questions

4.  Marketing:  Total system of business activities  The Four P’s & Distribution  Focus on target market to achieve objectives  eMarketing:  Marketing using the Internet  Therefore, to be Successful:  An eMarketing Strategy should: Not be separate from a Marketing Strategy Focus on target market & budget Be flexible, shift focus as needed

5.  Why Research ?  Our customers are doing it so we need to keep up  Sites allow product/service comparison & customer reviews  Examples: Cheapflights.ca tripadvisor.com Home Depot/Canadian Tire Websites, etc.  Gathering Data:  Aids business decisions  Allows us to learn about our customers, competition, and the market  ORM is very important

6.  What is Market Research?  A process that aids business decisions  Gathering, recording & analyzing data & information about customers, competitors & the market  Can be based on primary or secondary data & information  Data can be syndicated – What does that mean?  Types of Research:  Primary  Secondary  Qualitative  Quantitative

7.  According to Survey Monkey:  The way a survey is administered plays a role in response rates:  Mail: 50% adequate, 60-70% good to very good  Phone: 80% good  Email: 40% average, 50-60% good to very good  Online: 30% average  Classroom pager: 50+% good  Face to Face: 80-85% good

8.  Example?  Conducted Second  Is primary research necessary?  How are you going to obtain the data?  Gather information/data on a particular product or hypothesis  Must be collected from consumers or businesses  Examples:  Surveys, focus groups, research panels and research communities

9.  Example?  Conducted First  Does the data you require already exist?  Uses existing, published data & research  Can be internal or external data  Can be more cost effective than primary  Data may not meet your needs  Can be helpful in planning primary research  Authenticity is key  Examples:  Using Statistics Canada website vs. Wikipedia

10.  Used for exploratory purposes:  Identify potential hypotheses  Design quantitative research  Interpret market perspective  Examines consumers’ views, opinions & feelings  Can be difficult to quantify, more expensive, & time consuming  Examples:  Focus group interviews and one-on-one depth interviews

11.  Used to obtain statistical information about a sample of consumers or members of the public  Data:  Must be formally gathered  Is statistically analysed to determine results  Should be collected to test a hypothesis not determine one  Example:  Surveys – step by step guide in the text

12. Quantitative ModeQualitative mode Assumptions Social facts have an objective reality Primacy of method Variables can be identified and relationships measured Etic (outside's point of view) Assumptions Reality is socially constructed Primacy of subject matter Variables are complex, interwoven, and difficult to measure Emic (insider's point of view) Purpose Generalizability Prediction Causal explanations Purpose Contextualization Interpretation Understanding actors' perspectives Approach Begins with hypotheses and theories Manipulation and control Uses formal instruments Experimentation Deductive Component analysis Seeks consensus, the norm Reduces data to numerical indices Abstract language in write-up Approach Ends with hypotheses and grounded theory Emergence and portrayal Researcher as instrument Naturalistic Inductive Searches for patterns Seeks pluralism, complexity Makes minor use of numerical indices Descriptive write-up Researcher Role Detachment and impartiality Objective portrayal Researcher Role Personal involvement and partiality Empathic understanding

13.  Can be combined  Assign a numeric value to generate a score based on qualitative data  Example: Case in the text at the end of Chapter 17: BrandsEye’  When using both:  First: (usually) qualitative research to determine issues requiring attention  Second: quantitative research to tests the theories put forward in qualitative research.

14.  The Internet can be used in gathering:  Primary & secondary research  Qualitative and quantitative data  Online Communities = large focus group  Research information and tools freely available  Sophisticated tools for gathering further data exist (see Tools of the Trade in the text)  Reach large numbers at relatively low cost  Market research should produce information that leads to actions

15.  Research available:  Social media such as blogs & social networking sites  Online research panels/communities  Online research publications  Listening Lab for usability testing  Global search data  Customer Communications  Cookies and other tools for tracking and measuring  Examples?

16.  What is your Company’s Mission Statement?  Background:  What are the current problems?  Current nature of the organization?  Who is the Target Market?  What are their needs?  How can the organization fulfill the needs of the Target Market?  What is the marketing mix? 4P’s, New P’s

17.  Why is having a Target Market Important?  The 80/20 Rule  Example of a Target Market?  Demographics: age, gender, class, income  Geographic location  Psychographic: Psychological and sociological influences  Who is your Target Market? Example?

18.  The 4 P’s  Products & Service  Price  Placement or Distribution  Promotion  The New P`s  Personalization  Participation  Peer-to-peer communities  Predictive modelling  Awareness of Uncontrollable Factors  Existing or pending legislation relevant to the business e.g. environmental controls/regulations re: disposal  State of the economy in the market The 4 P’s

19.  Identify weaknesses and opportunities  Use Porter’s Five Forces Analysis (next slide)  Useful in understanding the attractiveness of the market  Was developed before the Internet  Barriers to entry and costs of switching are reduced = More competitors in the market  Cost of switching has lowered  Customer bargaining power has increased  Organizations compete based on price  Strategic differentiation comes from value

21.  Competition:  Who or What is trying to attract your consumers?  What are your customer’s needs?  How may your customers fulfill their needs other than with your company or with someone competing in your industry.  You are competing for customers attention not just their money

22.  Marketing Objectives  Must Be SMART – Does anyone know what that means? Specific Measureable Achievable Realistic Time-Based E.g. To achieve a sales revenue of $259,200 per year for the first three years of the business  Outline the desired outcomes of the marketing plan  What are the SMART objectives which will indicate the success of the marketing strategy?  Unique & based on increasing the revenue of the organization  Focused on long-term success – establish milestones, long-term & short-term goals

23.  Step 4: Generate Strategies & Tactics for Achieving Objectives  How will you achieve your objectives?  Which strategies will you employ to be successful?  Example: Objective: To increase customer retention by 2% by 2012 Tactic: Develop an email newsletter strategy to build relationships with an existing database of interested prospects  Step 5: Evaluate Strategies  Humphrey’s SWOT Analysis  Key Indicators  Monitoring & Reporting

25.  Step 6: Implement  Get ‘er Done!  Step 7: Track, Analyze, Optimize  eMarketing uses hyperlinks & can be tracked  Once tracked, data can be analyzed  Each tactic can be tracked individually, then intelligent analysis helps you consider how they work together  Keep ORM in mind!

26.  Balderson, W. D. (2003). Canadian Entrepreneurship & Small Business. Toronto: McGraw-Hill Ryerson Limited.  Sommers, M. S. Barnes, J.G. Stanton, W. J. (1998). Fundamentals of Marketing. Toronto: McGraw-Hill Ryerson Limited.  Stokes, R. (2008). eMarketing the Essential Guide to Online Marketing 2nd Edition. South Africa: Quirk eMarketing (Pty) Ltd.

27. Any Questions?