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Markert research on internet

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  • 1. 8.3 INTERNET MARKET RESEARCH  Traditional marketing research  Consists of focus groups, interviews, paper and telephone surveys, questionnaires and secondary research   Findings based on previously collected data Online marketing research  Faster option for finding and analyzing industry, customer and competitor information  Provides relaxed and anonymous setting to hold focus-group discussions and distribute questionnaires
  • 2. 8.3 INTERNET MARKETING RESEARCH  Segmentation  Can be based on age, income, gender, culture and common needs and wants Demographics  Statistics on human population, including age, sex, marital status and income Psychographics  Can include family lifestyle, cultural differences and values   Traditional focus groups can allow customers to touch, smell and experience products or services
  • 3. 8.3 INTERNET MARKETING RESEARCH  Online focus groups      Online surveys     Conducted to allow current or potential consumers to present their opinions about products, services or ideas Comfortable setting for participants Leader of the focus group cannot interpret a participant’s body language as a form of communication SurveySite Conducted from Web site or through e-mail InsightExpress.com, GoGlobal Technologies and QuickTake Test your site and marketing campaign on a smaller scale with focus groups and trials Data collected from a company’s Web site
  • 4. 8.3 INTERNET MARKETING RESEARCH Evaluate campaign results  Measure costs and benefits of campaign   Helps with development of a budget for marketing activities  Identify growing and most profitable segments  Marketing-research firms  Forrester Research, Adknowledge, Jupiter Communications and Media Metrix
  • 5.   A proper online market research helps a business in the following areas Making advantageous marketing decisions in order to quickly align with market  patterns in terms of users’ demands, habits and target audience. Surviving the competition by knowing the activities and patterns of competitors in  market. Analyzing the target audience and their product /services helps a business to  take practical actions to attract the audience towards their brand. Deciding the target market, before any launch of a new product it is desired to approach  the concerned or target population first. Online market research helps to figure out the  target population in order to achieve the high conversion rate of prospects to the  customer. Maximize profits with online research by gathering reviews of a product. This helps a  business to attain the value of product in terms of money, which customers are ready to  pay, and interestingly, it could be far higher than the current price.
  • 6. advantages of online market research Precision: Results approximation errors are usually low in online  market research over conventional research because of digital  computation of data and research patterns. Cross border activity: International census and research data about a  product or service can be gathered in order to study the impact and  performance, overseas. It can provide a hint about the habits and  responses of population to a particular product in a large area. Fast: Data analysis and data collection can be easy and fast using  online market research. Storage and retrieval of digital data gives a  pace to the process of 
  • 7. analysis. A company providing IT Infrastructure services recently conducted a poll to understand the sentiment of  people regarding the use of cloud applications. A sample of  10,000 people attended the poll in just 2 days and the company  had all the information they needed. Reliable: Internet allows the collection of proper and correct set of  data results with an automated system of data collection. It reduces  the cases of human-error in data and any other kind of discrepancy  and redundancy.
  • 8. Disadvantages: Slow internet connections can cause difficulties. If the companies build too  complex or too large websites, it will take too long for users to check them or  download them and they will get bored eventually.. The e-commerce doesn’t allow the user “to touch” the merchandise before  purchasing it. Because of this, some salesmen are starting to guarantee the  possibility of returning the product. In Germany, where a law that regulates ecommerce and guarantees the customers the total refund of the money exists  since 2000, the electronic commerce is very popular. Other factor is the payment: many users still don’t trust in the electronic  methods of paying and give up buying online because of this. One of the major disadvantages may be the lack of trust of the users because  of the constant virtual promotions that appear to be frauds. This is an aspect  that deteriorates the image and reputation of quality and honest companies.
  • 9. Other disadvantage is the cash on delivery system, since it doesn’t guarantee the 100% purchase of the product. This is also the case of thousands of users that dedicate themselves to daily mock big companies by ordering on the internet using false identities.