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Market Research Techniques
Filed under Business ToolsOct 4The market research techniques are techniques, methods and means of collecting data or information needed for market research.
The major technologies are market research survey, interview, observation techniques, market testing, focus groups and polling.
Let each of them:
The survey
The survey consists of a verbal or written question that is performed in which people want to get the information needed for research.
When the survey is verbal method makes use of the interview, and when it is written instrument makes use of the questionnaire, which consists of a document with a list of questions, which are given to the people to be surveyed.
Personal surveys can be conducted (for example, in a corner or in a mall), by phone, by mail, or online (e.g. via a website or via email).
Advantages: Through the technique of the survey, depending on the depth of it, can get very accurate data.
Disadvantages: possibility that respondents may provide false answers or those interviewers can use shortcuts.
The interview
The interview is a verbal query is performed in which people want to get the information needed for research.
In an interview the interviewer tends to ask open questions, and conducts the interview according to the answers you give the respondent, for example, explains the difficult questions, some that were scheduled obvious abounds with other, or modified.
Advantages: This technique offers the possibility to delve into any subject.
Disadvantages: high cost per respondent, the possibility that people are not willing to grant the interview. The interviewee’s answers, the information obtained and the interpretation thereof, depending on the skill of the interviewer.
The observation technique
The observing technique is to observe people, events, facts, cases, objects, actions, situations, etc.., In which you want to get the information needed for research.
The observation technique is often used primarily to observe the behavior of consumers in their natural environments.
An example of using the observational technique would be to visit places frequented by our target audience and watch their behavior, for example, how the products discussed, the questions they ask, the products they choose to buy, etc.
Advantages: get accurate information that otherwise could not be obtained, or information that people are unable or unwilling to provide for various reasons. This technique is easy to apply and inexpensive.
Cons: The inability to identify emotions, attitudes or motivations that lead a consumer to perform an act.
The market test
The market test also known as experimental technique consists in attempting to know directly the response of people to a product, service, idea, advertising, etc., and get the information needed for research.
Generally, a market test is performed before the release of a new product, to assess their acceptance or host, and thus reduce the risk of introducing new product to market and it does not have enough demand.
An example of the use of market testing would be establishing a small stall where the new product offer and we know the host well, printing and public reaction to it, before its introduction.
Advantages: get accurate information about the reactions or behavior of people with a particular product, service, idea or advertising.
Disadvantages: This technique uses a small sample, so the results could not be generalized.
Focus group
The focus group is to gather a small group of people (usually 6 to 12 people) to interview them and generate discussion around a product, service, idea, advertising, etc., and get information needed for research.
An example of using the focus group would be to convene a small group of consumers, and to test them or give them to review a new product, observe their behavior and reactions to the new product and then ask for their views, opinions and suggestions.
Advantages: get a wide range of information on ideas, opinions, emotions, attitudes and motivations of the participants.
Disadvantages: Uses a small sample, so the results could be generalized. The participants’ responses could be influenced by the general opinion of the group.
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Market Test
Filed under Business ToolsOct 2A market test also known as experimental technique is a research technique is to seek to know directly the response of people to a product, service, idea, advertising, etc., In order to obtain certain information necessary for research.
Generally, a market test is performed before the release of a new product, to assess their acceptance or host, and thus reduce the risk of introducing new product to market and it does not have enough demand.
When testing market is aware of the acceptance, reception, printing, or behavior of the public reaction to the new product and, based on the results, whether it is feasible to launch a new product if it is necessary to make some changes before launch, or if the launch is definitely feasible.
Some examples of market testing simple and low cost that can be made:
* We can set up a small stall located strategically in accordance with our target audience, where we sell the new product, and look at the reception that has the public at the same time, we measure the purchases made during the day, based on thus, forecast sales that we might get to have multiple outlets.
* We can set up a tasting booth where demos to test or sample the new product, and observe the acceptance and public reaction to it, while we consulted for their views or opinions.
* We convene a group of people and give them to test or experiment with the new product, observing their reactions and behaviors before it, and then consult you for their impressions or opinions, and ask for their suggestions.
* If we have different points of sales, we sell the new product in only one of them to see if you have good reception, or when working with intermediaries, we can ask some of them to sell our new product, in exchange to give those free products, and then consult on the results.
* If our new product is a toy for children, adults can invite their children, and ask children to play with various toys including ours is, then see if the children play with our product, their behavior when they play with him, and how long do., and then ask them what you like most toy and what they liked ours.
* If we want to determine what price to put on a new product, we can introduce the product in two similar but outlets in remote locations, and with two different prices, so that, thus we can evaluate the effect on sales each of the prices and thus know what is most convenient.In a test market to evaluate the reception of a new product, we must consider that if the new product can be easily copied, competitors could quickly copy our idea, and introduce the new product to market before us.
The main advantage of using the technique of the market test is that we can obtain accurate information about the reactions or behavior of people with a particular product, service, idea or advertising, while the disadvantage is that this technique uses a small sample, so the results could not be generalized. It is always advisable to use this technique along with other research techniques.
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Sep 25
Have you ever seen those vinyl banners advertising sales and grand openings and wondered how you could get one for your business? This is a great question because not only are banners durable, cost effective and eco friendly they are really easy to order and buy. There are few things to consider when ordering and designing your vinyl banner that will help you make the best choice.
When considering where to buy vinyl banners be aware of what good construction means when speaking of quality banners. All vinyl is water and weatherproof but not all vinyl is the proper weight for most applications. 10oz vinyl is very common and is very cheap compared to heavier weights. This weight will look cheap, crease quickly and be ruined easily by weather elements.
On the other end of the spectrum is 16oz and 18oz material. Many companies advertise using this weight of material; however, while it is sturdy it is often too heave for most traditional uses. This weight is really only good for street banners which are placed high on a pole and have no backing support. They will experience higher winds and be left out for much longer than a regular sales banner. This extra weight can even make it harder to hang your banner and make it more likely for your banner to fall. The weight you should look for is 13oz material. This offers the durability you need while being light enough to be hung easily. It is also more affordable than the 16oz or 18oz.
Other construction elements you should be aware of are the stitching and grommets, if any. The stitching should go all around all four sides of the banner, otherwise fraying will happen too easily. The grommets, or holes, in the banner should be reinforced with metal and be spaced every two to three feet depending on how large the banner is. Three feet apart is acceptable for very large banner but smaller ones will do better with two feet between. This placement will ensure that your banner is easy to hang and will lie well without billowing out. You will not need to cut slits in the banner to prevent this; proper hanging will allow the banner to hang without a problem.
As for the actual ordering of your banner you will do well to look online. Few retail stores offer banners in anything but cheap, small varieties that are used primarily for birthday parties and anniversary parties and other similar celebrations. They are cheap looking and unprofessional for your business. Online companies offer a greater variety with more better quality.
Tagged as: advertise, Advertising, banner, banners, banners durable, Business, companies, cost effective, durability, online companies, retail stores, sales, sales banner, vinyl banners -
Jul 13
If there is one thing, you need to learn to acquire when you are in business, it is how to have the skill to attract clients. Nevertheless, let us go further and say that you need to learn the skill of attracting the RIGHT kind of clients.
More than any other skill or capability when marketing one’s business, attracting the right clients is one ability that can help your business to achieve its goal. And despite being economically unstable at the moment, your business will never want for profits and financial security as you will find your marketing endeavors such as your brochure printing or print brochures become more responsive to the goals you want to accomplish.
Having this skill can also provide you with enough time to not only devote it to growing your business, but more importantly to having quality time with your family and other social events. The bottom line is to attract not only more clients, but also especially those people who have the capacity to pay for what you are offering. When you learn how to attract the right target clients, you will truly have an amazing tool that can get you the leads you want, when you want it and where.
The next question now is how you figure out what your target market wants. The answer lies on the following steps:
1- Remember that being visible is not enough to get you your clients. Nor is getting your words out there. These things are not adequate to secure you the leads you need in order to grow your business.
2- Most clients and customers know what they want. They will not buy anything just because you believe they do want them. More often than not, consumers buy according to their wants.
3- Again, customers buy because they want to, not because they need it. Therefore, unless your offer matches what your target clients want then securing the right kind of clients will always be something of a dream for you. What is the solution to this problem? Keep tabs on your target clients and research on what products and services does your target client wants in the marketplace.
Next, in order for you to get the right target clients, you need start selling to those who have already signified their interest to buy your products or avail of your service. Focus on people who have said ‘aye’ to your offer, and then encourage them further so your business can gain profits in the process. This is more lucrative than trying to sell your products to just about everybody and anybody.
Then, learn to unlearn your perception of making your target clients more than what they are – people. Your target clients are people that are no different from you. Do not be afraid to approach them. They are people just like you – having the same physical functions, emotions, needs and wants. By understanding this, you will gain more confidence to talk to your target clients about your business so they can relate their needs more effectively.
Finally, learn to accept rejection. It is not you. It is the product or service you are offering them that they rebuff. When you do accept this reality, you will be able to be more honest and confident in dealing with your target clients.
Learn the developments in print brochures or brochure printing industry that help businesses in their marketing and advertising campaigns.
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Marketing Strategy-Create Product Branding
Filed under MarketingJul 7What is branding?
The creative services industry has a lot to answer for! Unfortunately there is a huge amount of confusion surrounding branding!
Much of the confusion stems from two scenarios: branding consultants with a limited understanding of marketing, and; advertising and marketing consultants with a limited understanding of branding. Consequently the industry has confused audiences by coining often self-contradictory buzz-words and using them superficially or out of context. Not surprisingly the marketplace is left confused and sceptical.
We have attempted to create some clarity through concise definitions within a consistent frame of reference – a difficult task given to the sheer volume of confusion and misunderstanding that surrounds the topic.
Our definition of Branding is “the process of creating, maintaining, clarifying or changing a brand.
It’s as simple as that.
Branding encompasses much more than the visual realm. It’s the process of influencing the perception of a business or product, and any sensory experience can be used as a branding opportunity. Audible and emotional communication are very much part of the process, and can play a significant role in forming an impression of the company. In competitive environments, or to position themselves as an industry leader, smart businesses harness the impact of all interactions with consumers to differentiate themselves from their competitors and influence consumer perception.
Some interactions or “touch-points” will have a greater impact than others, and some companies decide to sacrifice certain branding opportunities to meet real or self-imposed budgetary constraints. Better to implement some level of strategic branding than none at all.
Why branding
Branding is a powerful and sustainable high-level marketing strategy used to create or influence a brand. It is used to generate a perception of, and thus a response in relation to, a product or company.
The power of perception (a brand) can positively influence buying decision/s by:
* creating an affinity or emotional connection with the consumer
* providing justification for paying a premium price for a service or product
* creating loyalty to the product or organisation
* demonstrating the quality and benefits of a service or product and the company behind itAcquiring more loyal customers (who are happy to pay a premium price) is what many successful businesses strive for, and that’s what the marketing strategy called “branding” is all about.
How can your business benefit from this thing called branding?
Branding creates a brand – and you are branding your business or product whether you realise it or not. The question is “what perception are you allowing prospective customers to form, and is that perception costing you sales by giving them the wrong impression in relation to your competitors”?
High quality strategic branding creates competitive advantage by:
* creating a positive perception in the minds of target customers (and staff)
* positioning and differentiating you in relation to your competitors
* relating to and positively influencing customer buying decisions
* developing, managing, and building the value of your brand
* making it difficult for competitors to match your professionalism or positioning
* positioning companies as employers of choiceBranding can also deliver real internal benefits. It can play an important role in improving organisational culture and unity by:
* clarifying brand values and brand personality
* clarifying who you are and what you represent
* giving staff an identity they can understand and be proud to be a part ofAnd this, most importantly, fosters consistent projection of the intended brand externally.
Why do some think it’s a waste of time?
Sadly, many businesses take a reactionary approach to operating and building their business. Consequently, they never achieve the level of success that is attainable within their market. Many businesses are unaware of the benefits of strategic branding or the business lacks the time or skills to formulate well-engineered long-term plans and strategies. As branding falls into the longer-term category, it is often disregarded as too hard, too costly or even too boring!
Many business owners have no real understanding of branding and the impact it can have on the health of a business over time as well as immediately. They are often unaware of (or refuse to acknowledge) how “that airy-fairy branding stuff” impacts on themselves and others. Consequently they conclude that it’s of little or no value to their business.
But branding has been proven to be one of the most effective marketing strategies available to business, and it’s the smart businesses that make the investment in branding and put it to very good use.
So how do you create a brand?
A good place to start is by developing or clarifying your Brand Strategy or at least creating a solid Brand Foundation.
Tagged as: Advertising, Brand Strategy, branding, competitors, consumers, creative services, market, Marketing, smart businesses
