July 7, 2015

Qualitative market research

Qualitative market research

In a previous article, we have been presenting the concept of quantitative research and its usefulness in the business environment. Below we are going to describe qualitative research and how we can apply it in real situations.

Generally speaking, qualitative market research helps us in finding out the perceptions of our target audience, as well as to forecast the behavior that the audience will exhibit when we try to implement our marketing objective. [Read more…]

How to execute a Push strategy?

Push strategy

Push strategy is the most common in B2C as well as in B2B market. Push strategy typically stands for generating more sales from the market. There are many different tools which altogether help in building up the push strategy for an organization. For example these tools are [Read more…]

How to manage and motivate channel dealers

Motivate channel dealers

Channel sales is always tricky. This is because your dependency on other people is double that of corporate sales. In corporate sales, you might meet the purchase manager once or twice in a month, but in channel sales, you might meet the channel dealer once or twice a week. Plus you will have to regularly meet the retailer and small dealers which the distributor handles. [Read more…]

Quantitative market research

Quantitative market research

In today’s challenging business environment, managers have to continuously find new ways to improve the performance of their company in the market in order remain competitive and to manage their company better. Managers need to implement new tactics at all times to increase their market shares as well as their profits. They manage in doing this by being constantly aware of the market and the dynamic nature of needs wants and demands of their customers. The tool that they use in order to understand these factors is the quantitative market research. [Read more…]

How to market a play school business?

Play school marketing

This was a question asked by one of the readers at Marketing91. He is a headmaster at a play school and wanted to know how to market a play school?

One of the first things to notice here is that the Play school is a service business so we have to apply all marketing concepts of services to such a business. People, physical evidence and process play a critical role in the marketing of services. [Read more…]

Marketing mix of Ford motor company – Ford marketing mix

Marketing mix of Ford motor

Ford Motor Company is an American Public Ltd company working under the brand name of ‘Ford’.  This multinational corporation is an automaker and deals in vehicles that are for commercial uses and used as private cars. Henry Ford founded this universal establishment in Detroit, in the year 1903 on June 16. [Read more…]

How to reduce customer defection and bring down defection rate?

Customer defection rate

It is a known fact that one of the variables which hit’s the bottom line of all established companies hard is the customer defection rate. The customer defection rate is the rate at which existing customers leave the brand and switch over to a competitor. It is possible that the customer has stopped using this type of product altogether. Or the more likely scenario is that the customer has switched over to a competitor.

In fact, the defection rate is higher now, and more than ever in the current market environment. It is very common nowadays to acquire customers by giving schemes and discounts. However, research has found that customers who have been acquired because of discounts, have half the customer life time value as compared to customers who have been acquired without any additional monetary benefits. [Read more…]

Product classification – Classification of products

Product classification

In every part of the world there are different systems of product classification. The concept of “product classification” consists of dividing products according to specific characteristics so that they form a structured portfolio. In general, manufacturers use an informal product classification system but there are also many standardized methods of product classification devised by various industry organizations. [Read more…]

How to balance part time business and full time job?

Part time business

Many of us want to start a part time business with our full time job so that we can have a better bank balance. However, when we try to juggle both, then there is simply so much to do that we don’t have enough time in the day to do it.

This does not mean that if we can’t balance a part time business with a full time job, then we will  give up pursuing our life’s goals!! We will fight back, use what knowledge we can most, and diligently find a way to balance the two work worlds. [Read more…]

Marketing and Privacy

Marketing and privacy

In marketing, the more information you know about your clients, the more effective and targeted you can be. There are plenty of ways to get this information as well — from loyalty programs and email marketing to social media. The Internet makes collecting information about customers easy. At the same time, when do you cross the privacy line? For that matter, when might legal concerns become an issue? Complying with the law is fairly straightforward. Judging the emotional and ethical concerns is less so. Therefore, let’s consider the legal questions first.  [Read more…]