The document provides an overview of an entrepreneurial group presentation on market research. It discusses quick group presentations on current projects, how to estimate the market, different types of market research including primary and secondary methods, customer segmentation and positioning, and working on projects with group supervision. Key topics covered include market estimation, different market research tools, how to segment customers, target specific segments, and position products and services. The document aims to educate entrepreneurs on conducting effective market research.
Social, Economical impact, Effect on consumer Demand,Effect on Consumer Choice,Effect on Business cycle,Deception in Advertising
The Subliminal Advertising,Effect on Value System,Effect of Proliferation of Advertising,Use of Stereotypes in Advertising,Offensiveness in Advertising,Effect on Perspective,Social Responsibility,Offensive Advertising
Functions of advertising and Objectives of advertising Rajlaxmi Bhosale
Social Functions,Psychological Functions,Economic Functions.INFORMING
PERSUADING
REMINDING
ADDING VALUE
Distinguish from the competitors
Product expansion-brand extension
Encourage loyalty
Reduce cost
HELP IN BRANDING
Previewing New Trends Previews, Create Demand,PRICING
Social, Economical impact, Effect on consumer Demand,Effect on Consumer Choice,Effect on Business cycle,Deception in Advertising
The Subliminal Advertising,Effect on Value System,Effect of Proliferation of Advertising,Use of Stereotypes in Advertising,Offensiveness in Advertising,Effect on Perspective,Social Responsibility,Offensive Advertising
Functions of advertising and Objectives of advertising Rajlaxmi Bhosale
Social Functions,Psychological Functions,Economic Functions.INFORMING
PERSUADING
REMINDING
ADDING VALUE
Distinguish from the competitors
Product expansion-brand extension
Encourage loyalty
Reduce cost
HELP IN BRANDING
Previewing New Trends Previews, Create Demand,PRICING
Advertising appeals aim to influence the way consumers view themselves and how buying certain products can prove to be beneficial for them.
The message conveyed through advertising appeals influences the purchasing decisions of consumers.
Advertising uses appeals as a way of persuading people to buy certain products.
Advertising appeals are designed in a way so as to create a positive image of the individuals who use certain products.
Communicating about pharmacy services and products is easy. Doing it well is hard. This presentation reviews consideration in the marketing of pharmacy services.
Calculating the impact of your Advertising Campaign is a crucial step in evaluating your effectiveness and laying your future advertising strategy. Learn the tools of evaluating advertising.
Advertising appeals aim to influence the way consumers view themselves and how buying certain products can prove to be beneficial for them.
The message conveyed through advertising appeals influences the purchasing decisions of consumers.
Advertising uses appeals as a way of persuading people to buy certain products.
Advertising appeals are designed in a way so as to create a positive image of the individuals who use certain products.
Communicating about pharmacy services and products is easy. Doing it well is hard. This presentation reviews consideration in the marketing of pharmacy services.
Calculating the impact of your Advertising Campaign is a crucial step in evaluating your effectiveness and laying your future advertising strategy. Learn the tools of evaluating advertising.
Marketplace business simulation, Game Scenario, Strategic Market.docxinfantsuk
Marketplace business simulation, Game Scenario, Strategic Marketing
~ 1 ~Welcome to Marketplace
A large international electronics firm has decided to enter the microcomputer business. It has formed a new PC Marketing Division to pursue this business opportunity. You have been asked to manage the PC Division. You will be responsible for introducing a new line of microcomputers into several international markets.
Corporate Headquarters will use a balanced scorecard to measure the PC Marketing Division's performance. Your total business performance will be based upon its financial performance, market effectiveness, marketing performance, investments in the firm's future, and creation of wealth. You will be able to see this performance score starting from quarter 4. A total score will be computed for each firm competing in Marketplace.
Being the best in the industry will not be easy. It will require all you already know about marketing as well as everything you will learn during the game.
Virtual Business World
Your company will be responsible for introducing a new line of microcomputers into Asia, North America, and Europe.
Within the PC industry, other firms will be entering the market at the same time as your division. The microcomputer industry is in its introductory stage of the product life cycle. There is no history and there are no established competitors. All competitors, including your own division, will start with exactly the same resources and knowledge of the market.
All manufacturers will sell through company-owned sales offices in major metropolitan markets around the world. Your target market will be the business sector. You will not be selling to the home market and you will not sell through retail stores. Thus, your marketing strategy will be tightly focused on direct sales to business customers.
There are five market segments to serve in the PC market. They are referred to as the Cost Cutter, Innovator, Mercedes, Workhorse, and Traveler segments.
The Cost Cutter segment is a large segment that is looking for a computer that’s very easy to use for basic office applications. The segment is extremely price sensitive.
The Workhorse segment is the largest group of customers. They want a PC for a variety of office workers to use. It should have substantial capability and flexibility, although not top of the line. Ease of use is more important than high performance. It should also be modestly priced.
The Innovator segment is a small segment that needs a computer to handle large computational problems (accounting, inventory management, engineering). This segment wants the latest technology and will pay a small premium for this high performance.
The Mercedes segment is looking for a high performance computer to use in sophisticated engineering and manufacturing applications. Mercedes customers are willing to pay substantially more for high performance.
The Traveler segment wants a practical computer to use on the ...
Very large addressable markets for Start-UpsChandni Sahgal
Start-Ups need to do enough Market Research to understand their Addressable markets, Market Size, Market Potential and Customer Preferences. SInce most of them are on Boot Strapping mode, I recommend that they learn to do smart sampling and D-I-Y MR to back up their Business Plan Assumptions
3. Attracting Customers To Your Site - Marketing and Social Networksmdda
Selling on the Web 2008.
Once you have a website you need to attract customers. The key to success is the development of a marketing plan which includes a mix of offline & online routes.
This includes a wide range of online options including social networks, search engine optimisation, Pay for Click advertising and marketing offline. Where to start?
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
2. Agenda
QUICK GROUP PRESENTATIONS
WHAT ARE YOU WORKING ON
HOW WILL YOU WORK ON YOUR MARKET ESTIMATION
MARKET RESEARCH
DIFFERENT TYPES OF MARKET RESEARCH
CUSTOMER SEGMENTS, TARGETING & POSITIONING
MARKET ESTIMATION
WORKING ON THE PROJECTS
PROJECT STRUCTURE
GROUP SUPERVISION
6. Definition
Marketing Research is:
”The process of designing, gathering, analyzing
and reporting of information that may be used
to solve a specific marketing problem”
(Burns & Bush, 2000)
7. Before doing market research, one
should have:
• A clear objective as to what the organization is
aiming to achieve – both through marketing and
corporate objectives
• A reasonable understanding of the targeted
segments, and thus an ability to position the
product or service
9. MARKET RESEARCH TOOLS
Primary Research Methods
Observations (going native + antropology)
Focus Groups
In-Depth Interviews (In person, mobile, Skype or by using
video conference)
Questionaries (personal, mobile, online, e-mail)
10. MARKET RESEARCH TOOLS
Secondary Research Methods
(Desk Research)
Intern information (sale, payment, inventory)
External information (Published or Commercial
market research reports, Information about
competitors, Government reports, Industry
specific homepages
11. Market Research
1. Ask the customers what they want
2. Ask the customers what they dream of
3. Talk to ”non-customers”
4. Talk to competitors
5. Understand the competitors’ business model
6. Know the positioning map of the industry
7. Talk to distributors
8.TEST!!!
13. STP)
Segmentation
– Determinations of variables that will influence which
customer segment you focus on
Targeting
– How many segments should you target?
– Which segment should you target?
Positioning
– Which position within a segment do you want to obtain?
14. Definition
Segmentation is the ability to:
”…divide the markets into groups, or clusters,
of customers based upon realistic and
meaningful criteria so as to offer clear,
targeted benefits to every customer”
(Wright, 2004)
15. SEGMENTING BY MARKET TYPES
• Mass Market = Undifferentiated
• Segments = Homogeneous groups
• Niche = Specialized customer segments
• Multiple segments = You serve multiple segments at
once – examples could be Google or even Golf
courses
• Customized or individual = Dell
• Local customer groups = You tailor the offering to
meet local needs
16. Targeting
• Targeting = Which customer segment should
we aim at?
• Can we spot any gaps in the market?
• Look for fit between strategy and resources
17. Positioning
• The percieved position of the brand!
• Does it differentiate from competitors
• Is there enough customers in that place?
• Multiple positioning strategy = Procter &
Gamble
22. Estimating Market
Potential Check-List
Estimating the market or market potential for a new business or business
expansion is critical in determining the economic feasibility of a venture.
Estimating the market potential will determine if the market is large enough to
support your businesses.
• What type of customer will buy the product or service?
• Where are these customers located?
• How many potential customers (N) are there?
• How often do they consume or use it?
• What is the Competition?
• What are people paying?
• What is the Potential for the Market to Develop?
• What is my share of the Market
24. Estimating Market
Potential:
Key Steps in Estimating Market Potential:
1. Define your target market and market segments.
2. Define the geographic boundaries of your market.
3. Derive average expenditures for the category.
4. Determine the average household income for the
area and state.
5. Estimate market share
25. Estimating Market
Potential:
MP = market potential
N = number of possible buyers
P = average selling price
Q = average annual consumption
FORMULA: MP = N x P x Q
26. Estimating Market
Potential:
EXAMPLE : Agritourism Market Potential Analysis
Situation - estimate the market potential for a new corn maze in Wake County, Georgia. The
facility will have a maze and hayride. Other activities include pig races, hay bale play grounds,
and a petting zoo. The average price for corn mazes in the area is $8.00 per person. They plan to
target children 8 years old and under. There are two other competing corn maze operations.
These operations have been in business for over five years and have established a clientele.
Estimating Market Potential:
MP = market potential
N = number of possible buyers
P = average selling price
Q = average annual consumption
Number of potential customers (target market) =101,600 people under 9 years of age
P - average selling price = $8.00 per person
Q - consumption - assumes an average of 1.5 visits per year per child= 1.5
MP= 101,600 * $8.00 * 1.5 = $1,219,200.00
27. Estimating Market
Potential:
EXAMPLE : Agritourism Market Potential Analysis
Adjustment: It is unrealistic to assume that the operation will capture 100% of the market given
they are new and there are established operations in the area. Need to estimate our market share
of the corn maze business in the county.
Market share = Market potential * percent of the market captured.
Assume each corn maze obtains 33% of the market
Market Share = $1,219,200.00 * 33% = $402,336
Use 20% and 10% to see how sensitive the market share number is and if these figures will
support your business.
Market Share = $1,219,200.00 * 20% = $243,840
Market Share = $1,219,200.00 * 10% = $121,92
29. HOW TO - Calculating The Price:
1) Cost-plus pricing. Used mainly by manufacturers, assures that all costs (fixed and variable)
are covered and includes a desired level of profit.
2) Demand pricing. Used by companies that sell their product through a variety of sources at
differing prices based on demand.
3) Competitive pricing. Price according to your competitors. Used in competitive markets with
little product differentiation.
4) Mark-up pricing. Adds a level of profit to the cost of the product being retailed. Also good
for products that are co-packed.
Evaluating Price Competitiveness:
Investigate your competition. Are your prices in alignment with theirs? What is the
value of your product relative to theirs? Do not be a price taker or implement a “me, too”
pricing strategy if your product can be differentiated and offers a higher value than
competing products. If your price is too high to compete directly in the market, look for a
niche market that desires your product’s attributes and charge accordingly.
30. How do I KNOW IF MY
PRODUCT IS
DIFFERENTIATED ?
31. 3 criteria needs to be fulfilled
1. Does my value proposition differ from what is
currently being offered to the market?
2. Is the segment large enough for my value
proposition?
3. Is it hard for competitors to imitate, copy or
replace my value proposition?
32. 1. OK quality – BETTER in price and size
2. OK price – BETTER in design
3. OK service – BETTER in price
4. Ok speed – BETTER in price and size
41. TOP TIP on corporate bloGGING
“…businesses with corporate blogs
receive 55 percent more traffic than
small businesses that don’t blog”
Source: http://mashable.com/2010/07/20/corporate-blogging-tips/
51. Mini Task
Which channels are you going to use?
– Find 2 potential channels for your company
– Describe why you have chosen these channels?
– How would you use them?
– What are you going to use it for?