1. INTERNET MARKET RESEARCH2. OPERATIONAL DATA TOOLS

Info. for Competitive Marketing Advantages

Maher ARAFAT, June, 2010

MARKET KNOWLEDGE

Info. for Competitive Marketing Advantages

Information is the fuel of the new economy, It plays a key role in developing and maintaining a sustainable competitive market advantages.

Collecting, evaluating and applying information faster and better than competition can be the defining edge in today’s market place and the means for successfully managing customer relationships.

The internet reach, rich, speed and interactivity make continuous data gathering feasible. Also the massive collection of consumer data.

Data, the building blocks of the information age are:Numbers, text, images, and symbols that represent identities, actions, and preferences.

Surveys, focus groups, brainstorming, consumer panels, and secondary research are all being conducted online via the web and email with methods adapted form traditional offline market research.

Online market research has gained acceptance due to: high level of validity, reliability and projectability also the internet offers fast, reach rich, cost.

Operational data tools

These tools compile data into databases and warehouses, facilitate data analysis and mining, allow marketing intelligence gathering and web profiling, and collecting even more data from behavioral tracing devices like cookies and bugs. The collect far more data and are operational 24/7/365.

Market Research

Is the systematic and objectively planned collection and analysis of data that are transformed into information communicated to decision makers for use in :

solving marketing problems, answering marketing questions and writing effective marketing plan (Report).

Research

1.Describe2.Predicts3.Prescribe

1. Descriptive Research

identifies and portrays:a product, buyers, competitors, behavioral intentions, market situation or related factors.

2. Predictive Research

assesses and forecasts TrendsDemandActionsOr events.

3. Prescriptive Research

Recommends a course of action.

Market Research Methods

Primary Research:- Qualitative Research

1. Focus Groups, Brainstorming2. In-depth Interviews.

- Quantitative Research: empirical research1. Surveys.

Secondary Research:- Internal Resources

1. Internal sales data- External Resources ( Agency Resources)

1. Government Statistics.2. Independent Researches.

Comparison Table

Primary SecondaryFirst hand data Data already exists

Tailored to company needs Not specific to company needs

Up to date May be out of date

Time consuming to collect Quick to collect

Expensive to collect Cheaper to collect

Research Process

• Why sales are decreasing.

• What can we do to increase sales

Identify Sales Problem/Question

• Who is responsible.• When it take place.• What method will be

used• How the data will be

collected• How much is

budgeted• What time table will

be followed• Who will receive the

results

Develop Plan (Blue Print)

• Address research question

• Present information• Provide

recommendations

Report Results