Market Research Archives - Modern Marketing Partners

Conduct Small Market Research Projects to Help Your Business Grow image

Market research is important. There’s no way to get around it. Whether you’re in start-up mode or an established company, it provides an important foundation for your marketing decision-making. It helps you learn about your market, potential customers, and the competitive environment. Additionally, it offers valuable insight that can help minimize risks associated with managing your marketing mix and the various elements of more long-term marketing planning. There are several key marketing tactics that businesses can make with market research information, such as: Establish price Emphasize selected product features Choose type of advertising Design promotional messages Understanding the consumer and your product’s position relative to the competition will produce the results you’re looking for. That’s why from the onset market research ...

Glossary of Market Research Terms image

Market research is the systematic process of data gathering and analysis to gain more information about customers and market competition. The information is then used to plan campaign strategies, improve current products, or diversify products within the brand. Below we will define some common Market Research terms: A A.C. Nielsen Retail Index: uses point-of-sale data to provide information on the sales of a particular product, information of competing products, dealer and sales promotions, and retail prices. Ad Hoc Surveys: surveys administered to the target audience who has never been surveyed on a particular subject before. Ad Recall: survey respondents are exposed to an ad and then, at a later date, asked if they can recall it, measuring advertising effectiveness. Ad tracking: monitoring a brands performance ...

17th of April, 2013
In: Inbound Marketing, Marketing Strategies
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B2B Buyer Personas – Development Tactics and Content image

“A buyer persona is a composite of different factors that affect your buyer and motivate him/her to buy. Your prospect’s buying cycle and buying decisions are situated within a larger context that must be understood in order to motiveate his/her buyer behavior” (MLT Creative). For B2B, buyer personas are especially complex due to typical B2B sales cycles. MarketingSherpa found that 41% of B2B firms have established buyer personas, while 47% of organizations have not (See more). A complete understanding of your buyer is critical in the development of communications, marketing materials, and content. Below we will share tactics in developing buyer personas. In addition, we detail what type of content to develop for four different B2B personas. Effective Tactics For Developing ...

20th of November, 2012
In: Marketing Best Practices, Marketing Planning
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Market Research – Types And Tips image

Market research is the systematic process of data gathering and analysis to gain more information about customers and market competition. The information is then used to plan campaign strategies, improve current products, or diversify products within the brand. Market research is used to support planning and budgeting and decision-making for new products, market-entry, marketing communications, customer initiatives, and more! So, where should you start? We will share different types of marketing research that are available including advantages and disadvantages and 21 market research tips. Types of Market Research There are a variety of market research techniques; primary vs. secondary research, quantitative or qualitative research, and syndicated research. Secondary research, the most common type of research, is defined as published, publicly available and free ...

19th of March, 2012
In: Advertising, Marketing Best Practices
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Advertising Testing Tips image

Advertising is one of the most expensive elements in the marketing mix, whether print, broadcast or online. And because of the fickle and subjective nature of advertising, seemingly great ideas can flop, while unexpected approaches surprise even the most experienced marketers. With all financial investment at stake, it makes sense to gain insight into customer reaction. There are a variety of options for advertising testing. The extent of testing depends on the expected advertising budget-both ad production and placement. Clearly a $1.3 million Super Bowl spot requires more elaborate testing than a $20,000 print ad. So what are the advertising testing options? And when should you use one testing type vs. another? Advertising Testing Options Most experts agree on two broad types of advertising testing: ...

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