mraketing strategy

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Market research is any organized effort to gather information aboutmarketsor customers. It isa very important component ofbusiness strategy. The term is commonly interchanged withmarketing research; however, expert practitioners may wish to draw a distinction, in thatmarketing research is concerned specifically about marketing processes, while marketresearch isconcerned specifically with markets.

Market research is a key factor to get advantage overcompetitors. Market research providesimportant information to identify and analyze the market need, market size and competition.

Market research, includes social and opinion research, [and] is the systematic gathering andinterpretation of information about individuals or organizations using statistical and analyticalmethods and techniques of the applied social sciences to gain insight or support decision making.

History

Market research began to be conceptualized and put into formal practice during the 1920s, as an

offshoot of the advertising boom of theGolden Age of radioin theUnited States. Advertisersbegan to realize the significance ofdemographicsrevealed by sponsorship of different radioprograms.

Market research for business/planning

Market research is for discovering what people want, need, or believe. It can also involvediscovering how they act. Once that research is completed, it can be used to determine how tomarket your product.Peter Druckerbelieved[4]market research to be the quintessence ofmarketing.

There are two major types of market research.Primary Researchsub-divided intoQuantitativeandQualitativeresearch andSecondary research.

For starting up a business, there are some important things:

Market informationThroughMarket informationone can know the prices of the different commodities in the market,as well as the supply and demand situation. Information about the markets can be obtained fromdifferent sources, varieties and formats, as well as the sources and varieties that have to be

obtained to make the business work.

Market segmentationMarket segmentation is the division of the market or population into subgroups with similarmotivations. It is widely used for segmenting on geographic differences, personality differences,demographic differences,technographicdifferences, use of product differences, psychographicdifferences and gender differences. For B2B segmentationfirmographicsis commonly used.
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Market trendsMarket trends are the upward or downward movement of a market, during a period of time. Themarket size is more difficult to estimate if one is starting with something completely new. In thiscase, you will have to derive the figures from the number of potential customers, or customer

segments.

Besides information about the target market, one also needs information about one's competitors,customers, products, etc. Lastly, you need to measuremarketing effectiveness. A few techniquesare:

Customer analysis Choice modelling Competitor analysis Risk analysis Product research

Advertising the research Marketing mix modeling Simulated Test Marketing

Market Research for the Film Industry

It is important to test marketing material for films to see how an audience will receive it. Thereare several market research practices that may be used: (1) concept testing, which evaluatesreactions to a film idea and is fairly rare; (2) positioning studios, which analyze a script formarketing opportunities; (3) focus groups, which probe viewers' opinions about a film in smallgroups prior to release; (4) test screenings, which involve the previewing of films prior to

theatrical release; (5) tracking studies, which gauge (often by telephone polling) an audience'sawareness of a film on a weekly basis prior to and during theatrical release; (6) advertisingtesting, which measures responses to marketing materials such as trailers and televisionadvertisements; and finally (7) exit surveys, that measure audience reactions after seeing the filmin the cinema.

Top 9 of the market research sector 2009

Rank Company

Sales in

2009

(million

USD)

Growth

in %

1 Nielsen Company 9,056.0 2.6

2Kantar Group- TNS, Millward Brown, BMRB, IMRB International and

Ziment Group4,692.0 2.5
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3 IMS Health Inc. 1,958.6 8.5

4 GfK AG 1,397.3 5.4

5 Ipsos 1,077.0 6.5

6 Synovate 739.6 9.5

7 IRI 665.0 6.6

8 Westat 425.8 0.8

9 Arbitron 400.0 5.9

Global market research turnover in 2009

Rank Continent Sales in 2009(millionUSD)

[8]Share

1 Europe 13,299 46%

2 North America 9,188 32%

3 Asia Pacific 4,480 15%

4 Latin America 1,486 5%

5 Middle East & Africa 492 2%

A market trend is a putative tendency of afinancial marketto move in a particular directionover time. These trends are classified as secularfor long time frames,primary for medium timeframes, and secondary for short time frames. Traders identify market trends usingtechnical
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analysis, a framework which characterizes market trends as predictable price tendencies withinthe market when price reaches support and resistance levels, varying over time.

The termsbull marketandbear marketdescribe upward and downward market trends,respectively, and can be used to describe either the market as a whole or specific sectors and

securities.

Secular market trend

A secular market trend is a long-term trend that lasts 5 to 25 years and consists of a series ofprimary trends. A secular bear market consists of smaller bull markets and larger bear markets; asecular bull market consists of larger bull markets and smaller bear markets.

In a secular bull market the prevailing trend is "bullish" or upward-moving. The United Statesstock market was described as being in a secular bull market from about 1983 to 2000 (or 2007),with brief upsets including thecrash of 1987and thedot-com bustof 20002002.

In a secular bear market, the prevailing trend is "bearish" or downward-moving. An example of asecular bear market was seen ingoldduring the period between January 1980 to June 1999,culminating with theBrown Bottom. During this period the nominal gold price fell from a highof $850/oz ($30/g) to a low of $253/oz ($9/g), and became part of theGreat CommoditiesDepression.

Secondary market trend

Secondary trends are short-term changes in price direction within a primary trend. The duration

is a few weeks or a few months.

One type of secondary market trend is called a market correction. A correction is a short termprice decline of 5% to 20% or so. A correction is a downward movement that is not large enoughto be a bear market (ex post).

Another type of secondary trend is called a bearmarket rally(sometimes called "sucker's rally"or "dead cat bounce") which consist of a market price increase of only 10% or 20% and then theprevailing, bear market trend resumes. Bear market rallies occurred in theDow Jonesindex afterthe 1929 stock market crash leading down to the market bottom in 1932, and throughout the late1960s and early 1970s. TheJapaneseNikkei 225has been typified by a number of bear market

rallies since the late 1980s while experiencing an overall long-term downward trend.

Primary market trend

A primary trend has broad support throughout the entire market (mostsectors) and lasts for ayear or more.
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Bull market

A bull market is associated with increasing investor confidence, and increased investing inanticipation of future price increases (capital gains). A bullish trend in the stock market oftenbegins before the general economy shows clear signs of recovery.

Examples

India'sBombay Stock ExchangeIndex,SENSEX, was in a bull market trend for about five yearsfrom April 2003 to January 2008 as it increased from 2,900 points to 21,000 points. Notable bullmarkets marked the 1925-1929, 1953-1957 and the 1993-1997 periods when the U.S. and manyother stock markets rose; while the first period ended abruptly with the start of theGreatDepressionthe end of the later time periods were mostly periods ofsoft landing, which becamelarge bear markets. (see:Recession of 1960-61and thedot-com bubblein 2000-01)

[edit] Bear market

A bear market is a general decline in the stock market over a period of time.[6]

It is a transitionfrom high investor optimism to widespread investor fear and pessimism. According toTheVanguard Group, "While theres no agreed-upon definition of a bear market, one generallyaccepted measure is a price decline of 20% or more over at least a two-month period."

[7]

[edit]Examples

A bear market followed theWall Street Crash of 1929and erased 89% (from 386 to 400) of theDow Jones Industrial Average's market capitalization by July 1932, marking the start of theGreat Depression. After regaining nearly 50% of its losses, a longer bear market from 1937 to

1942 occurred in which the market was again cut in half. Another long-term bear marketoccurred from about 1973 to 1982, encompassing the1970s energy crisisand the highunemployment of the early 1980s. Yet another bear market occurred between March 2000 andOctober 2002. The most recent examples occurred between October 2007 and March 2009.

[edit] Market top

A market top (or market high) is usually not a dramatic event. The market has simply reached thehighest point that it will, for some time (usually a few years). It is retroactively defined as marketparticipants are not aware of it as it happens. A decline then follows, usually gradually at firstand later with more rapidity. William J. O'Neil and company report that since the 1950s a market

top is characterized by three to five distribution days in a major market index occurring within arelatively short period of time. Distribution is a decline in price with higher volume than thepreceding session.
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[edit]Examples

The peak of thedot-com bubble(as measured by theNASDAQ-100) occurred on March 24,2000. The index closed at 4,704.73 and has not since returned to that level. The Nasdaq peakedat 5,132.50 and the S&P 500 at 1525.20.

A recent peak for the broad U.S. market was October 9, 2007. TheS&P 500index closed at1,576 and the Nasdaq at 2861.50.

Market bottom

A market bottom is a trend reversal, the end of a market downturn, and precedes the beginning ofan upward moving trend (bull market).

It is very difficult to identify a bottom (referred to by investors as "bottom picking") while it isoccurring. The upturn following a decline is often short-lived and prices might resume their

decline. This would bring a loss for the investor who purchased stock(s) during a misperceivedor "false" market bottom.

Baron Rothschildis said to have advised that the best time to buy is when there is "blood in thestreets", i.e., when the markets have fallen drastically and investor sentiment is extremelynegative.

Examples

Some examples of market bottoms, in terms of the closing values of the Dow Jones IndustrialAverage (DJIA) include:

The Dow Jones Industrial Average hit a bottom at 1738.74 on 19 October 1987, as a result of thedecline from 2722.41 on 25 August 1987. This day was called Black Monday (chart).

A bottom of 7286.27 was reached on the DJIA on 9 October 2002 as a result of the decline from11722.98 on 14 January 2000. This included an intermediate bottom of 8235.81 on 21

September 2001 (a 14% change from 10 September) which led to an intermediate top of

10635.25 on 19 March 2002 (chart). The "tech-heavy" Nasdaq fell a more precipitous 79% from

its 5132 peak (10 March 2000) to its 1108 bottom (10 October 2002).

A bottom of 6,440.08 (DJIA) on 9 March 2009 was reached after a decline associated with thesubprime mortgage crisisstarting at 14164.41 on 9 October 2007

A marketing information system is amanagement information systemdesigned to supportmarketing decision making.
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Jobber (2007) defines it as a "system in which marketing data is formally gathered, stored,analysed and distributed tomanagersin accordance with their informational needs on a regularbasis."

Kotler, et al. (2006) define it more broadly as "people, equipment, and procedures to gather, sort,

analyze, evaluate, and distribute needed, timely, and accurate information to marketing decisionmakers."

A formal MkIS can be of great benefit to any organization whether profit making or non profitmaking, no matter what its size or the level of managerial finesse. It is true today that in manyorganization an MkIS is integrated as part of a computerized system. To manage a business wellis to anage its future and this means tha management of information, in the form of a companywide"Management Information System" (MIS) of which the MkIS is an integral part, is anindispensable resource to be carefully managed just like any other resource that the organizationmay have e.g. human recources, productive resources, transport resources and financialresources.

Primary research consists of the collection of original primary data. It is often undertaken afterthe researcher has gained some insight into the issue by reviewing secondary research or byanalyzing previously collected primary data.[clarification needed] It can be accomplished throughvarious methods, includingquestionnairesand telephone interviews inmarket research, orexperimentsand directobservationsin thephysical sciences, amongst others.

The term primary research is widely used inacademic research,market researchandcompetitiveintelligence.

There are advantages and disadvantages to primary research.

Advantages:

Addresses specific research issues as the researcher controls the search design to fit theirneeds

Great control; not only does primary research enable the marketer to focus on specificsubjects, it also enables the researcher to have a higher control over how the informationis collected. Taking this into account, the researcher can decide on such requirements assize of project, time frame and goal.

Disadvantages:

Compared to secondary research,[clarification needed] primary data may be very expensive inpreparing and carrying out the research. Costs can be incurred in producing the paper forquestionnaires or the equipment for an experiment of some sort.

In order to be done properly, primary data collection requires the development andexecution of a research plan. It takes longer to undertake primary research than to acquiresecondary data.
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Some research projects, while potentially offering information that could prove quitevaluable, may not be within the reach of a researcher.

By the time the research is complete it may be out of date. Low response rate has to be expected.

An example of primary research in opinion research: the government wants to know if people arepleased with how the government is being run, so they hand out questionnaires to the publicasking if they are happy and, if not, how to improve.

An example of primary research in thephysical sciences: Can the transition temperature ofhigh-temperature superconductorsbe increased by varying the composition of the superconductingmaterial. The scientist will modify the composition of the high-Tc material in various ways andmeasure the transition temperature of the new material as a function of its composition.

All research, whether primary or secondary, depends eventually on the collection of primaryresearch data

quantitative research refers to the systematic empirical investigation of social phenomena viastatistical, mathematical or computational techniques.[1]The objective of quantitative research isto develop and employmathematical models,theoriesand/orhypothesespertaining tophenomena. The process ofmeasurementis central to quantitative research because it providesthe fundamental connection betweenempiricalobservationand mathematical expression ofquantitative relationships. Quantitative data is any data that is in numerical form such asstatistics, percentages, etc. In layman's terms, this means that the quantitative researcher asks aspecific, narrow question and collects numerical data from participants to answer the question.The researcher analyzes the data with the help ofstatistics. The researcher is hoping the numberswill yield anunbiasedresult that can be generalized to some larger population.Qualitative

research, on the other hand, asks broad questions and collects word data from participants. Theresearcher looks for themes and describes the information in themes and patterns exclusive tothat set of participants.

Quantitative research is used widely in social sciences such aspsychology,economics,sociology, andpolitical science, and less frequently inanthropologyandhistory. Research inmathematicalsciences such asphysicsis also 'quantitative' by definition, though this use of theterm differs in context. In the social sciences, the term relates to empirical methods, originatingin both philosophicalpositivismand thehistory of statistics, which contrastqualitative researchmethods.

Qualitative methods produce information only on the particular cases studied, and any moregeneral conclusions are only hypotheses. Quantitative methods can be used to verify which ofsuch hypotheses are true.

A comprehensive analysis of 1274 articles published in the top two American sociology journalsbetween 1935 and 2005 found that roughly two thirds of these articles used quantitative methods.
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Qualitative research is a method of inquiry employed in many different academic disciplines,traditionally in thesocial sciences, but also inmarket researchand further contexts.[1]Qualitativeresearchers aim to gather an in-depth understanding ofhuman behaviorand thereasonsthatgovern such behavior. The qualitative method investigates the why and how ofdecision making,not just what, where, when. Hence, smaller but focusedsamplesare more often needed than large

samples.

In the conventional view, qualitative methods produce information only on the particular casesstudied, and any more general conclusions are only propositions (informed assertions).Quantitative methodscan then be used to seek empirical support for such research hypotheses.This view has been disputed by Oxford University professorBent Flyvbjerg, who argues thatqualitative methods andcase study researchmay be used both for hypotheses-testing and forgeneralizing beyond the particular cases studied.

Secondary research (also known as desk research) involves the summary, collation and/orsynthesis of existing research rather thanprimary research, where data is collected from, for

example, research subjects or experiments.

The term is widely used inmedical researchand inmarket research. The principal methodologyin medical secondary research is thesystematic review, commonly using meta-analytic statisticaltechniques, although other methods of synthesis, like realist reviews and meta-narrative reviews,have been developed in recent years. Such secondary research uses the primary research ofothers typically in the form of research publications and reports.

In a market research context, secondary research is taken to include the re-use by a second partyof any data collected by a first party or parties.

Inarchaeologyandlandscape history, desk research is contrasted withfieldwork.

Sometimes secondary research is required in the preliminary stages of research to determinewhat is known already and what new data is required, or to inform research design. At othertimes, it may be the only research technique used.

A key performance area in secondary research is the full citation of original sources, usually inthe form of a complete listing or annotated listing.

Secondary sources could include previous research reports, newspaper, magazine and journalcontent, and government and NGO statistics.

Technographic segmentation is amarket researchanalysis tool used to identify and profile thecharacteristics and behaviors of consumers through the process ofmarket segmentation.

Traditionally market researchers focused on variousdemographic,psychographic, andlifestyleschemes to categorize and describe homogeneous clusters of consumers that comprise possibletarget markets.
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With the advent ofpersonal computersandhome videoin the late 1980s and the explosion inInternetuse,personal digital assistants,BlackBerries,video games,cell phones, etc. in the 1990s,information and communication technologies have emerged as a central focus and defining forcein a wide range of occupations and lifestyles. Accordingly, market researchers realized the needfor a segmentation scheme based on the role that technology plays in consumers' lives.

Technographic segmentation was developed to measure and categorize consumers based on theirownership, use patterns, and attitudes toward information, communication and entertainmenttechnologies.

The concept and technique was first introduced in 1985 by Dr.Edward Forrestin a study ofVCRusers. It was elaborated upon in the article "Segmenting VCR Owners" published in theJournalof Advertising Research. The article suggested that the profiling of technology consumers"should be based on an amalgam of variables which might best be referred to as 'technographic'...which focuses on the motivations, usage patterns, attitudes about technology... as well asmeasures of a person's fundamental values and lifestyle perspective."

The concept has been adopted by Forrester Research, Inc. as a research service for information-technology and marketing professionals, business strategists, and technology industry executives.Technographics has two categories, Social Technographics and Mobile Technographics.

Firmographics are the characteristics of an organization especially when used to segmentmarkets inmarket research. Whatdemographicsare to people, firmographics are toorganizations.

Commonly-used firmographics include employee size, revenue size, industry, number oflocations and location of headquarters. Distributions of values within a firmographic variable,

and across organizations, are both of interest, as well as trends over time.

Marketing effectiveness is the quality of how marketersgo to marketwith the goal of optimizing their

spending to achieve good results for both the short-term and long-term. It is also related toMarketing

ROIandReturn on Marketing Investment(ROMI).

Marketing effectiveness has four dimensions:

CorporateEach company operates within different bounds. These are determined bytheir size, their budget and their ability to make organizational change. Within thesebounds marketers operate along the five factors described below.

CompetitiveEach company in a category operates within a similar framework asdescribed below. In an ideal world, marketers would have perfect information on howthey act as well as how their competitors act. In reality, in many categories havereasonably good information through sources, such as, IRI or Nielsen. In many industries,competitive marketing information is hard to come by.

Customers/ConsumersUnderstanding and taking advantage of how customers makepurchasing decisions can help marketers improve their marketing effectiveness. Groupsof consumers act in similar ways leading to the need to segment them. Based on these
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segments, they make choices based on how they value the attributes of a product and thebrand, in return for price paid for the product. Consumers build brand value throughinformation. Information is received through many sources, such as, advertising, word-of-mouth and in the (distribution) channel often characterized with thepurchase funnel, aMcKinsey & Companyconcept. Lastly, consumers consume and make purchase

decisions in certain ways. Exogenous FactorsThere are many factors outside of our immediate control that can

impact the effectiveness of our marketing activities. These can include the weather,interest rates, government regulations and many others. Understanding the impact thesefactors can have on our consumers can help us to design programs that can takeadvantage of these factors or mitigate the risk of these factors if they take place in themiddle of our marketing campaigns.

There are five factors driving the level of marketing effectiveness that marketers can achieve:

1. Marketing StrategyImproving marketing effectiveness can be achieved by employinga superior marketing strategy. By positioning the product or brand correctly, theproduct/brand will be more successful in the market than competitors products/brands.Even with the best strategy, marketers must execute their programs properly to achieveextraordinary results.

2. Marketing CreativeEven without a change in strategy, better creative can improveresults. Without a change in strategy,AFLACwas able to achieve stunning results withits introduction of the Duck(AFLAC) campaign. With the introduction of this newcreative concept, the company growth rate soared from 12% prior to the campaign to28% following it. (See references below,Bang)

3. Marketing ExecutionBy improving how marketers go to market, they can achievesignificantly greater results without changing their strategy or their creative execution. Atthe marketing mix level, marketers can improve their execution by making small changesin any or all of the 4-Ps (Product, Price, Place and Promotion) (Marketing) withoutmaking changes to the strategic position or the creative execution marketers can improvetheir effectiveness and deliver increased revenue. At the program level marketers canimprove their effectiveness by managing and executing each of their marketingcampaigns better. It's commonly known that consistency of a Marketing Creative strategyacross various media (e.g. TV, Radio, Print and Online), not just within each individualmedia message, can amplify and enhance impact of the overall marketing campaigneffort. Additional examples would be improving direct mail through a better call-to-action or editing web site content to improve its organic search results, marketers canimprove their marketing effectiveness for each type of program. A growing area ofinterest within (Marketing Strategy) and Execution are the more recent interactiondynamics of traditional marketing (e.g. TV or Events) with online consumer activity (e.g.Social Media). (See references below,Brand Ecosystems) Not only direct productexperience, but also any stimulus provided by traditional marketing, can become acatalyst for a consumer brand "groundswell" online as outlined in the bookGroundswell.

4. Marketing Infrastructure (also known asMarketing Management)Improving thebusiness of marketing can lead to significant gains for the company. Management ofagencies, budgeting, motivation and coordination of marketing activities can lead to
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improved competitiveness and improved results. The overall accountability for brandleadership and business results is often reflected in an organization under a title within a(Brand management) department.

5. Exogenous Factors - Generally out of the control of marketers, external or exogenousfactors also influence how marketers can improve their results. Taking advantage of

seasonality, interests or the regulatory environment can help marketers improve theirmarketing effectiveness.

Choice modelling attempts to model the decision process of an individual or segment in aparticular context. Choice modelling may also be used to estimate non-market environmentalbenefits and costs.

Well specified choice models are sometimes able to predict with some accuracy how individualswould react in a particular situation. Unlike a poll or a survey, predictions are able to be made

over large numbers of scenarios within a context, to the order of many trillions of possiblescenarios.

Choice modelling is believed by some to be the most accurate and general purpose tool currentlyavailable for making some probabilistic predictions about certain human decision makingbehavior.[citation needed] Many alternatives exist ineconometrics,marketing,sociometricsand otherfields, includingutilitymaximization,optimizationapplied toconsumer theory, and a plethora ofother identification strategies which may be more or less accurate depending on thedata,sample,hypothesisand the particular decision being modelled. In addition Choice Modelling is regardedas the most suitable method for estimating consumers willingness to pay for qualityimprovements in multiple dimensions.

Competitor analysis inmarketingand strategicmanagementis an assessment of the strengthsand weaknesses of current and potentialcompetitors. This analysis provides both an offensiveand defensive strategic context to identify opportunities and threats. Profiling coalesces all of therelevant sources of competitor analysis into one framework in the support of efficient andeffective strategy formulation, implementation, monitoring and adjustment.

Competitor analysis is an essential component of corporate strategy. It is argued that most firmsdo not conduct this type of analysis systematically enough. Instead, many enterprises operate onwhat is called informal impressions, conjectures, and intuition gained through the tidbits ofinformation about competitors every manager continually receives. As a result, traditional

environmental scanning places many firms at risk of dangerous competitive blindspots due to alack of robust competitor analysis.

This can best be displayed on a two dimensional matrix - competitors along the top and keysuccess factors down the side. An example of a competitor array follows:

Key IndustrySuccess Factors

WeightingCompetitor

#1 ratingCompetitor#1 weighted

Competitor#2 rating

Competitor#2 weighted
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1 - Extensive distribution .4 6 2.4 3 1.2

2 - Customer focus .3 4 1.2 5 1.5

3 - Economies of scale .2 3 .6 3 .6

4 - Product innovation .1 7 .7 4 .4

Totals 1.0 20 4.9 15 3.7

Competitor profiling

The strategic rationale of competitor profiling is powerfully simple. Superior knowledge of rivalsoffers a legitimate source of competitive advantage. The raw material of competitive advantageconsists of offering superior customer value in the firms chosen market. The definitivecharacteristic of customer value is the adjective, superior. Customer value is defined relative torival offerings making competitor knowledge an intrinsic component of corporate strategy.Profiling facilitates this strategic objective in three important ways. First, profiling can revealstrategic weaknesses in rivals that the firm may exploit. Second, the proactive stance of

competitor profiling will allow the firm to anticipate the strategic response of their rivals to thefirms planned strategies, the strategies of other competing firms, and changes in theenvironment. Third, this proactive knowledge will give the firms strategic agility. Offensivestrategy can be implemented more quickly in order to exploit opportunities and capitalize onstrengths. Similarly, defensive strategy can be employed more deftly in order to counter thethreat of rival firms from exploiting the firms own weaknesses.

Clearly, those firms practicing systematic and advanced competitor profiling have a significantadvantage. As such, a comprehensive profiling capability is rapidly becoming a core competencerequired for successful competition. An appropriate analogy is to consider this advantage as akinto having a good idea of the next move that your opponent in a chess match will make. By

staying one move ahead, checkmate is one step closer. Indeed, as in chess, a good offense is thebest defense in the game of business as well.

A common technique is to create detailed profiles on each of your major competitors. Theseprofiles give an in-depth description of the competitor's background, finances, products, markets,facilities, personnel, and strategies. This involves:

Backgroundo location of offices, plants, and online presenceso history - key personalities, dates, events, and trendso ownership, corporate governance, and organizational structure

Financialso P-E ratios,dividend policy, and profitabilityo various financial ratios, liquidity, and cash flowo Profit growth profile; method of growth (organic or acquisitive)

Productso products offered, depth and breadth ofproduct line, and product portfolio balanceo new products developed, new product success rate, and R&D strengthso brands, strength of brand portfolio, brand loyalty and brand awareness
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o patents and licenseso quality control conformanceo reverse engineering

Marketingo segments served, market shares, customer base, growth rate, and customer loyaltyo

promotional mix, promotional budgets, advertising themes, ad agency used, salesforce success rate, online promotional strategyo distribution channels used (direct & indirect), exclusivity agreements, alliances,

and geographical coverageo pricing, discounts, and allowances

Facilitieso plant capacity, capacity utilization rate, age of plant, plant efficiency, capital

investmento location, shipping logistics, and product mix by plant

Personnelo number of employees, key employees, and skill setso

strength of management, and management styleo compensation, benefits, and employee morale & retention rates

Corporate and marketing strategieso objectives, mission statement, growth plans, acquisitions, and divestitureso marketing strategies

Risk analysis is a technique to identify and assess factors that may jeopardize the success of aprojector achieving a goal. This technique also helps to define preventive measures to reduce theprobability of these factors from occurring and identify countermeasures to successfully deal

with these constraints when they develop to avert possible negative effects on thecompetitiveness of the company.

Reference class forecastingwas developed by professor Bent Flyvbjerg, University of Oxford, toincrease accuracy in risk analysis. "The single most important piece of advice regarding how toincrease accuracy in forecasting, including forecasts of risk.

One of the more popular methods to perform a risk analysis in the computer field is calledfacilitated risk analysis process

FRAP analyzes one system, application or segment of business processes at time.

FRAP assumes that additional efforts to develop precisely quantified risks are not cost effectivebecause:

such estimates are time consuming risk documentation becomes too voluminous for practical use specific loss estimates are generally not needed to determine if controls are needed. without assumptions there is little risk analysis
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After identifying and categorizing risks, a team identifies the controls that could mitigate therisk. The decision for what controls are needed lies with the business manager. The team'sconclusions as to what risks exists and what controls needed are documented along with a relatedaction plan for control implementation.

Three of the most importantrisksa software company faces are: unexpected changes in revenue,unexpected changes in costs from those budgeted and the amount of specialization of thesoftware planned. Risks that affect revenues can be: unanticipated competition, privacy,intellectual property right problems, and unit sales that are less than forecast. Unexpecteddevelopment costs also create risk that can be in the form of more rework than anticipated,security holes, and privacy invasions.

Narrow specialization of software with a large amount of research and development expenditurescan lead to both business and technological risks since specialization does not necessarily lead tolower unit costs of software. Combined with the decrease in the potential customer base,specialization risk can be significant for a software firm. After probabilities of scenarios have

been calculated with risk analysis, the process ofrisk managementcan be applied to help managethe risk.

Methods likeapplied information economicsadd to and improve on risk analysis methods byintroducing procedures to adjust subjective probabilities, compute the value of additionalinformation and to use the results in part of a largerportfolio managementproblem.

Marketing mix modeling is a term of art for the use of statistical analysis such asmultivariate

regressionson sales and marketingtime seriesdata to estimate the impact of variousmarketingtactics

on sales and then forecast the impact of future sets of tactics. It is often used to optimize advertising

mix and promotional tactics with respect to sales revenue or profit. The techniques were developed by

econometricians and were first applied toconsumer packaged goods, since manufacturers of thosegoods had access to good data on sales and marketing support. In the recent times MMM has found

acceptance as a trustworthy marketing tool among the major consumer marketing companies.
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