Types of marketing Sales research Product research Advertisement research

1. TYPES OF MARKETING
RESEARCH
❖ CONSUMER RESEARCH
❖ SALES RESEARCH
❖ PRODUCT RESEARCH
❖ ADVERTISING RESEARCH

2. CONSUMER RESEARCH
• Consumer research is a part of market research in which inclination; motivation and purchase
behavior of the targeted customers are identified. Consumer research helps businesses or
organizations understand customer psychology and create detailed purchasing behavior
profiles.
• It uses research techniques to provide systematic information about what customers need.
Using this information brands can make changes in their products and services, making them
more customer-centric thereby increasing customer satisfaction. This will in turn help to
boost business.
• An organization that has an in-depth understanding about the customer decision-making
process is most likely to design a product, put a certain price tag to it, establish distribution
centers and promote a product based on consumer research.

3. EXAMPLE OF CONSUMER RESEARCH
A consumer electronics company wants to understand, thought process of a consumer
when purchasing an electronic device, which can help a company to launch new
products, manage the supply of the stock, etc. Carrying out a Consumer electronics
survey can be useful to understand the market demand, understand the flaws in their
product and also find out issues in the various processes that influence the purchase
of their goods. A consumer electronics survey can be helpful to gather information
about the shopping experiences of consumers when purchasing electronics. This can
enable a company to make well-informed and wise decisions regarding their products
and services.

4. CONSUMER RESEARCH OBJECTIVES
✓ When a brand is developing a new product, consumer research is conducted to understand
what consumers want or need in a product.
✓ What attributes are missing and what are they looking for? An efficient survey software really
makes it easy for organizations to conduct efficient research.
✓ Consumer research is conducted to improve brand equity.
✓ A brand needs to know what consumers think when buying a product or service offered by a
brand. Every good business idea needs efficient consumer research for it to be successful.
Consumer insights are essential to determine brand positioning among consumers.
✓ Consumer research is conducted to boost sales.
✓ The objective of consumer research is to look into various territories of consumer psychology
and understand their buying pattern, what kind of packaging they like and other similar
attributes that help brands to sell their products and services better.

5. CONSUMER RESEARCH MODEL
• According to a study conducted, till a decade ago, researchers thought differently about the consumer
psychology, where little or no emphasis was put on emotions, mood or the situation that could
influence a customer’s buying decision.
• Many believed marketing was applied economics. Consumers always took decisions based on
statistics and math and evaluated goods and services rationally and then selected items from those
brands that gave them the highest customer satisfaction at the lowest cost.
• However, this is no longer the situation. Consumers are very well aware of brands and their
competitors. A loyal customer is the one who would not only return to repeatedly purchase from a
brand but also, recommend his/her family and friends to buy from the same brand even if the prices
are slightly higher but provides an exceptional customer service for products purchased or services
offered.

6. CONSUMER RESEARCH MODEL
• Here is where the Net Promoter Score (NPS) helps brands identify brand loyalty
and customer satisfaction with their consumers. Net Promoter Score survey uses a single
question that is sent to customers to identify their brand loyalty and level of customer
satisfaction. Response to this question is measured on a scale between 0-10 and based on
this consumers can be identified as:
• Detractors: Who have given a score between 0-6.
• Passives: Who have given a score between 7-8.
• Promoters: Who have given a score between 9-10.

7. CONSUMER RESEARCH RELATED METHOD:
1. Qualitative Consumer Research
• Qualitative research is descriptive in nature, It’s a method that uses open-ended
questions, to gain meaningful insights from respondents and heavily relies on the
following market research methods:
• Focus Groups: Focus groups as the name suggests is a small group of highly validated
subject experts who come together to analyze a product or service. Focus group comprises
of 6-10 respondents. A moderator is assigned to the focus group, who helps facilitate
discussions among the members to draw meaningful insights

8. CONSUMER RESEARCH
• One-to-one Interview: This is a more conversational method, where the researcher
asks open-ended questions to collect data from the respondents. This method heavily
depends on the expertise of the researcher. How much the researcher is able to probe
with relevant questions to get maximum insights. This is a time-consuming method and
can take more than one attempt to gain the desired insights.
• Content/ Text Analysis: Text analysis is a qualitative research method where
researchers analyze social life by decoding words and images from the documents
available. Researchers analyze the context in which the images are used and draw
conclusions from them. Social media is an example of text analysis. In the last decade or
so, inferences are drawn based on consumer behavior on social media.

9. CONDUCT QUANTITATIVE RESEARCH
Quantitative Consumer Research: In the age of technology and information, meaningful data is more
precious than platinum. Billion dollar companies have risen and fallen on how well they have been able
to collect and analyze data, to draw validated insights.
• Quantitative research is all about numbers and statistics. An evolved consumer who purchases
regularly can vouch for how customer-centric businesses have become today. It’s all about customer
satisfaction, to gain loyal customers. With just one questions companies are able to collect data that
has the power to make or break a company. Net Promoter Score question, “On a scale from 0-10 how
likely are you to recommend our brand to your family or friends?”
• How organic word-of-mouth is influencing consumer behavior and how they need to spend less on
advertising and invest their time and resources to make sure they provide exceptional customer
service.
• Online surveys, questionnaires, and polls are the preferred data collection tools. Data that is obtained
from consumers is then statistically, mathematically and numerically evaluated to understand
consumer preference.

10. CONSUMER RESEARCH PROCESS

11. THE CONSUMER RESEARCH PROCESS CAN BE BROKEN DOWN INTO
THE FOLLOWING STEPS:
• Develop research objectives: The first step to the consumer research
process is to clearly define the research objective, the purpose of research,
why is the research being conducted, to understand what? A clear statement
of purpose can help emphasize the purpose.
• Collect Secondary data: Collect secondary data first, it helps in
understanding if research has been conducted earlier and if there are any
pieces of evidence related to the subject matter that can be used by an
organization to make informed decisions regarding consumers.

12. THE CONSUMER RESEARCH PROCESS
• Primary Research: In primary research organizations or businesses collect
their own data or employ a third party to collect data on their behalf. This
research makes use of various data collection methods
(qualitative and quantitative) that helps researchers collect data first hand.
• Collect and analyze data: Data is collected and analyzed and inference is
drawn to understand consumer behavior and purchase pattern.
• Prepare report: Finally, a report is prepared for all the findings by analyzing
data collected so that organizations are able to make informed decisions and
think of all probabilities related to consumer behavior.

13. SALES RESEARCH
• Sales research is an important part of the entire sales process. Sales research helps you
to find the right prospects, book the initial meeting, and provides the insights needed to
lead your prospect through the entire sales cycle. The results from sales research are
“Sales Intelligence,” and applications that provide this information are called Sales
Intelligence Tools.
• Without Research
• Salespeople run the risk of targeting the wrong prospects. A recent study showed that
50% of prospects in the pipeline are a bad fit.
• Salespeople have trouble booking meetings because their generic emails get lost in the
sea of sameness.

14. SALES RESEARCH
• Salespeople aren’t prepared for discovery meetings, struggle to build trust, and to
demonstrate value to their prospects. A slightly outdated study from 2013 (but still
extremely relevant) shows that buyers believe less than a quarter of salespeople adequately
prepare for discovery calls.
• The following figure shows how B2B buyers see the level of preparedness from salespeople
in discovery calls and the best approach for solving each problem.

15. SALES RESEARCH PROCESS

16. SALES RESEARCH PROCESS
• sales research impacts the entire sales cycle. It encompasses 3 core activities, as shown in the
following figure.
Today, sales research is more important than ever. Buyers dissatisfied with the lack of
preparation from salespeople. And, the growing adoption of sales automation tools
means that buyers receive more emails and phone calls than ever, much of which isn’t
relevant. Meeting prep, which consists mostly of research, sets the foundation for a
successful sales process.

17. PHASE 1 – WHO IS YOUR PROSPECT?
• Researcher need to research the best companies and people to prospect. To be successful
you first need to understand your Ideal Customer Profile (ICP) – what types of companies
most often have the problem you can solve and are the best fit for your solution. The most
common place to look is LinkedIn.
PHASE 2 – HOW DO I CONTACT MY PROSPECT?
• Researcher look for the right contact information (email, phone, etc.) so you can reach out
and contact your prospect. With the shift to remote work, addresses and work phone
numbers have become less important, and cell phone numbers (for calls and texting) have
become the key information required, along with valid email addresses. Once again, there
are many sources for this kind of information, with some of the most popular being
ZoomInfo, Seamless.ai and Infotelligent.

18. PHASE 3 – WHY SHOULD I CONTACT MY PROSPECT?
• This final phase is the most overlooked part of the sales research process. Here you are
looking to understand key insights about your prospect that will help you book a meeting,
lead a successful discovery call, build trust to become a trusted advisor and to improve sales
metrics. useful places to look are job openings, company website (blogs and press releases),
news articles, financial reports for public companies, funding rounds for private companies
and other social media sites such as Twitter
The Sales Research Challenge
• Unfortunately, while Phase 3 is extremely important, it can also be time consuming and
often the best insights are overlooked.

19. SALES ANALYSIS
Sales Analysis is the process of understanding how your business performs in terms of sales. It
provides insights into the past, present, and future performance of a business and can be used
to help you forecast trends, identify opportunities for growth, and develop a strategic action
plan for your company.
market research, where your sales team members survey leads and customers to gain insights
about their behavior and affinity towards your products.
• Prescriptive Analysis
With prescriptive analytics, you use predictive information to learn more about your
customers. Also, for the deals your sales team does decide to pursue, they’ll have a good
approach ready to make the lead or customer more receptive to the sale.

20. PRESCRIPTIVE ANALYSIS

21. • Diagnostic Analytics
Using diagnostic analytics, researcher can review current and past sales data from their
company to understand less-than-stellar emerging issues better.
For example, maybe new product didn’t sell as well because it came out right before the
pandemic? This analysis can help you ideate better ways to reach customers.
• Sales Effectiveness Analytics
Who are your most effective sales representatives? Sales data analysis can help you pinpoint
your best representatives (and those who are struggling). As this dictates your company’s
ability to win deals, you can use this data to optimize your workforce and key tasks.

22. • Product Sales Analytics
The success of your products depends on the insights you gain through product sales
analysis. You must conduct sales analyses for all the products you sell at regular intervals.
• Sales Pipeline Analytics
If you only had one choice, you’d have to choose this one. That’s how important sales
pipeline analytics is. By studying analytics related to your sales pipeline, you can see how
many leads convert to customers, how long they remain customers, who your most qualified
leads are, what their money-making potential is, and which sales team member is assigned
to work with them.

23. • Predictive Sales Analytics
If you’re not entirely pleased with the accuracy of your sales pipeline analysis, you may
want to supplement the information with predictive sales. These analytics are automated, so
your sales forecasting can give you an accurate glimpse into the future.
• The Importance of Sales Analysis
Presents Long-Term Data You Can Refer Back To
Offers Deeper Understanding of Your Customers
Makes Sense of Market Trends and Data
Fewer Missed or Lost Opportunities

24. 2. PRODUCT RESEARCH
• Product research is the process of marketing research that is done to get
information on the desired characteristics and specifications of a product
expected by the potential customers mainly before the launch and
availability of the product. Product research helps companies to understand
what the customers really want, so that the product can be tailored to match
the needs of the customer.
• This research can help to refine new product ideas as well as improve the
existing products in the market.

25. IMPORTANCE OF PRODUCT RESEARCH
• Product research is a very important activity in new product development – it
can be carried out at several stages of new product development. Product
research helps an organization make products which are expected by the
customers. This helps have an competitive advantage and leadership position
in the market.
• A well-researched product will meet the requirements of the customer in a
much better way. Product research even more important when you are
launching a product in the market where there are lot of competitors.
Knowing the customer's feedback on the features, characteristics can really
help make a product which solves the existing products' issues in the market.

26. PRODUCT RESEARCH STAGES
1. Before Launch Research
• In the initial stages, product research can be carried out to identify and screen new ideas.
This testing will help reduce costs by avoiding product development costs in the discarded
ideas.
• In the later stages of product development, product research can help companies to identify
which features are important and hence retain them and which features can be discarded.
2. Testing and Feedback
• A newly developed product is also tested with customers, to identify any changes to be made
to packaging etc. Testing is very important when it comes to research. A well research but not
well tested product may still end up failing. Testing can be done in-house or through actual
customers through small groups, trials, offers etc.

27. PRODUCT RESEARCH STAGES
3. Soft Launch Research
Most of the products are soft launched before being launched across the target markets. The
soft launch is used for gathering feedback from potential customers and making changes in
the product which can benefit. Test marketing is done for small groups or areas and the
response is validated. If the soft launch is not a success, then a product need to go through
the research stage again and may be relook at the product.
4. Post Launch Research
Once everything is done, the product is launched in the market. Even though test marketing
is done but when it is launched for a larger population, things may go different. Hence it is
very important to see an understand the customer behaviour and response to the newly
launched product or its variant. Once the product is launched, consumer satisfaction with
the product is tested. Most common techniques used in product research include focus
group discussions, interviews and surveys. Based on this feedback, next steps can be
planned for the product.

29. ADVERTISING RESEARCH – INTRODUCTION
• Advertising is bringing a product (or service) to the attention of potential and
current customers. Advertising is focused on one particular product or
service. Thus, an advertising plan for one product might be very different
than that for another product. Advertising is typically done with signs,
brochures, commercials, direct mailings or e-mail messages, personal contact,
etc. Promotion keeps the product in the minds of the customer and helps
stimulate demand for the product. Promotion involves ongoing advertising
and publicity (mention in the press). The ongoing activities of advertising,
sales and public relations are often considered aspects of promotions.

30. ADVERTISING RESEARCH AIM
• The advertising research is to be conducted to measure the advertising impact
or the result of the effort with the help of detailed study on advertising
objectives, product appeals, copy testing, and media effectiveness.
• The advertising research is an application of marketing research aimed at the
measurement of advertising effectiveness. Advertising research is better
defined by history and practice than anything else. Research comes into the
advertising process at several points. Early in the process, it is sometimes
used to help a marketer determine which segment of the market to target.
• The history of advertising research tells us quite a bit about its current status.
Although some advertising agencies have had research departments for 80
years or more, the real boom days came between the 1930s and the 1970s.

31. THE OBJECTIVES OF THE RESEARCH
concentrate on –
• i) the optimum utilization of advertising budget.
• (ii) the choice of media in implementing an advertisement campaign.
• (iii) the effect of advertisement on the target audience.
• (iv) to bring cost-effectiveness in advertising.
The formulation of advertising objectives and budget of expenditures are to be considered in setting the goals and
the objectives should be streamlined in order to determine the tasks to be performed.
• The researches may be conducted as follows:
• 1. Product Appeal Research.
• 2. Advertising Message (Copy Testing) Research.
• 3. Advertising Media Selection Research.
• 4. Advertising Effectiveness Research

32. WAY TO CONDUCT ADVERTISING RESEARCH
1. Product Appeal Research:
The attitude of the target group towards a particular product or brand is of importance to study
the consumer behavior. This attitude is known as the Product Appeal.
2. Advertising Message Research:
Message of the advertisement is of great importance to create an impact and to project the
product in the market. Consumers’ attitude and the effect of message may be identified and
measured. The advertiser should locate salient characteristics of a particular market segment
and should design the product appeal and the relevant message accordingly.
3. Advertising Media Selection Research:
The decision making process in media selection is based on the following fundamental
issues:
i. Choice of a particular medium or combination of media viz. T.V., radio or print.

33. WAY TO CONDUCT ADVERTISING RESEARCH
ii. Selection of national, regional or local level media.
iii. The periodicity or the interval of the media use.
• 4. Advertising Effectiveness Research:
There can be various alternative strategies for varying degree of effects on the
target audience. Different statistical models may be applied to measure the
scale of effectiveness and generation of motivational attitude among the
prospective consumers.

34. THE TECHNIQUES FOR TRACKING STUDIES ARE:
• 1. Telephone Interview with customers to identify their response to the Ad.
• 2. Diaries – Consumers are asked to keep a record of various activities such as
brand purchase, brand switches and response to sales promotional campaigns.
• 3. Mall intercepts – Interviewing the customer at the point of purchase.
• 4. Product audits – To analyze the movement of advertised brand from the
points of purchase.
By research company will able to know about awareness of the product
and Brand, Attitude of the customer, Communication efficacy, Reported
product usage, Satisfaction drive.

35. Several methods are used in developing advertising research.
1. Focus Groups:
A focus group is a brainstorming session with 6 to 12 target customers who
have been brought together to come up with new insights about the good or
service.
2. Field Work:
Field work is conducted outside the agency (i.e., in the “field”), usually in the
home or site of consumption. Its purpose is to learn from the experiences of the
consumer and from direct observation.
The problems generally faced in the advertising research are:
a. Weakness in research methodology
b. The time and cost constraints
c. The problematic effect of advertising on sales