Seminor on market survey
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A market survey involves systematically collecting, analyzing, and interpreting data about existing or potential markets. It identifies the size and anticipated market share of a market, patterns of demand, market structure, buyer behaviors and motives, trends affecting related products, and unique selling propositions. The market survey process includes defining objectives, developing a sampling plan, creating a questionnaire, collecting and analyzing data, and reporting findings. Online surveys offer benefits like lower costs and automation but have limitations such as restricted sampling. Understanding a market through surveys can help businesses create new products and services tailored to consumer needs.
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The document provides an overview of marketing information systems (MIS) and international marketing information systems (IMIS).
[1] It defines MIS as a computer-based system that supports marketing decision making through the collection, analysis and presentation of internal and external information. IMIS helps address the dual problems of information abundance and scarcity in global markets.
[2] Six subject areas of information are identified for global businesses: markets, competition, foreign exchange, regulations, resources, and general conditions. Sources of market information include human sources, documents, the internet, and direct perception.
[3] Key components of a computerized MIS are described as data banks, statistical banks, model banks, and display units
L3- Recognize a Potential Market- Market Need Analysis.pptx
The document discusses how to analyze the market need and potential for a new business. It defines key terms related to market analysis including existing customers, target market users, prospects, brand image, market characteristics, market potential, and market share. It also outlines steps for problem identification research and problem-solving research. The document emphasizes understanding customer benefits compared to competitors, defining who the target market is and what they need, and assessing the size and segments of the potential market through demographics and segmentation.
Marketing process needs market research
Market research is required at every stage of the typical marketing process. The process begins with a situation analysis to understand customer needs and the market environment. This informs the development of a marketing strategy, which involves selecting target markets and positioning offerings. Marketing mix decisions then determine the specific product, price, place, and promotion tactics. Implementation and continuous control are needed to ensure customer needs are met over the long term. Market research techniques like surveys, focus groups, and interviews provide valuable customer insights to guide decision making at each step.
feasibility study Chapter 4
The document outlines the key components and goals of performing a market feasibility study, including defining the target market, analyzing supply and demand factors, assessing the market gap, and developing sales and pricing plans to determine market viability for a new product or service.
Flow chart of marketing plan
A marketing plan checklist provides guidance on developing a marketing plan in 6 steps: 1) gathering information inputs, 2) identifying customer motivation and market segmentation, 3) setting financial, marketing and customer objectives, 4) determining marketing strategy, 5) outlining the marketing mix of product, place, price and promotion, and 6) planning audit activities. The checklist details what to include under each step such as market size, customer research findings, and budgets for different marketing activities.
Predictive analytics in marketing
The document discusses how predictive analytics can be used in marketing. It provides examples of how retailers have used techniques like regression analysis, customer segmentation, and predictive modeling to 1) forecast demand based on retail data and factors, 2) determine optimal pricing, and 3) develop predictive models for timely ordering. Additionally, it describes how an advertising company used multivariate analysis and predictive modeling to determine the most effective advertising campaigns. Overall, the document outlines how predictive analytics can provide competitive advantages like increased sales and customer retention for businesses.
Market analysis
A market analysis determines the attractiveness and opportunities within a market. It involves analyzing the market size, segments, trends, growth, profitability, industry costs, distribution channels, and key success factors. Understanding these dimensions provides insight into customers and competitors to identify business opportunities and inform strategic decisions. Performing regular market analysis helps ensure marketing resources are effectively allocated.
Market Research
This document discusses market research conducted on Dettol, a brand of hygiene products owned by Reckitt Benckiser. It provides the following key points:
1. Dettol has been a trusted brand in India since 1933 and is consistently rated as one of India's most trusted brands. It offers multiple hygiene products including soaps, hand wash, and hand sanitizer.
2. The document outlines various chapters covering topics such as the Indian personal hygiene market, Reckitt Benckiser as a company, the history and statistics of the Dettol brand, and analyses of Dettol soap.
3. Market research methods discussed include surveys, focus groups, and analyzing secondary data to understand customers
Marketing Research.pptx
Market research is defined as evaluating the feasibility of new products or services through research with potential consumers. It allows organizations to understand their target market, collect opinions, and make informed decisions. Market research can be conducted directly or outsourced to agencies with expertise. It provides valuable customer information, identifies market trends, and gives competitive advantages to help businesses plan strategies accordingly. The key steps involve defining problems and samples, collecting and analyzing data, and making decisions based on research reports.
MARKET ANALYSIS.2.ppt
This document provides an overview of conducting market research for a new business venture. It discusses defining target markets and analyzing the industry and target customer. Key aspects covered include segmenting the market, understanding industry forces like barriers to entry and competition, creating a customer profile, and forecasting demand. The purpose of market research is to understand customer needs and determine if there is a market for the business's product or service.
Marketing
This document provides an overview of marketing and the market research process. It discusses key aspects of marketing including developing a marketing mix, understanding consumer behavior, and conducting market research. The summary discusses conducting primary and secondary research to understand the target market, market size, trends, and using the research to evaluate the viability of a business.
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Seminor on market survey
- 4. A market survey is an objective identification & systematic collection, analysis, and interpretation of data about existing or potential markets for a project/ service
- 5. Size of market & the anticipated market share in term of volume & value. Pattern of demand-seasonal & fluctuating in time (in a month ,day etc). Market structure. Buying habits & motives of buyers. Unique selling proposition of certain product. Past & present trends affecting the selected product or similar product.
- 6. 1.Defining objectives 2.Sampling plan 3.Preparing questionnaire 4.Collect & analyses of data 5.Reporting
- 7. 1.DEFINING OBJECTIVE decide the specific information markets needed , and finally decided working methodology and action plan for the survey.
- 8. 2. SAMPLING PLAN It will not be always possible to collect information from whole population .hence select sample size and decide a plan for contacting them proper time
- 9. 3. PREPARING QUESTIONNAIRE in order to ask uniform question related to topic prepare a questionnaire.
- 10. 4. COLLECT AND ANALYSE OF DATA collect the data from the responsible person by personally contacting or mailed questionnaire.
- 11. 5.REPORTING based on the analysis of data prepare a report & submit it to the sponsoring authority.
- 12. SOME IMPORTANT THINGS TO REMEMBER FOR STARTING UP A NEW BUSINESS 1)Market Information: Through market information you can know the prices of the different commodities in market, the supply & the demand situation. 2)Market segmentation: It is widely use for segmenting on geographic differences , personality differences, demographic differences, techno-graphic differences, use of product differences, & psychographic differences & also gender differences. 3)Market trends: It is the upward or down ward movement of market, during a period of time.
- 13. 1)Low costs. 2)Automation and real-time access. 3)Less time. 4)Convenience for respondents. 5)Design flexibility. 6)No interviewer. 1)Limited sampling and respondent availability. 2)Possible cooperation problems.
- 14. Market survey is very important if you are planning to create a new business, product or service.
- 15. If you can find out useful information You can possibly determine a target market You can determine if there are features on your product the consumer likes or dislikes