Marketing

Key concepts

Product / Pricing / Promotion Distribution / Service / Retail Brand management Marketing effectiveness Market research Marketing strategy Marketing management Market dominance

Promotional content

Advertising / Branding Direct marketing / Personal Sales Product placement / Public relations Publicity / Sales promotion Underwriting

Promotional media

Printing / Publication / Broadcasting Out-of-home / Internet marketing Point of sale / Novelty items Digital marketing / In-game Word of mouth

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Market research is the process of systematically gathering, recording and analyzing data and information about customers, competitors and the market. In popular usage "marketing" is the promotion of products especially Advertising and Branding However in professional usage the term has a wider meaning of Product marketing deals with the first of the "4P"'s of Marketing, which are Product, Pricing, Place, and Promotion. Pricing is one of the Four p's of the Marketing mix. The other three aspects are product promotion and place. Promotion involves disseminating information about a product, Product line, Brand, or company Distribution (or place) is one of the four elements of Marketing mix. A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates Brand management is the application of Marketing techniques to a specific product, Product line, or Brand. Marketing effectiveness is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results for both the short-term and long-term A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive Marketing management is a Business discipline focused on the practical application of marketing techniques and the Management of a firm's marketing resources Market dominance is a measure of the strength of a Brand, product, service, or firm, relative to competitive offerings Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand A brand is a collection of Images and ideas representing an economic producer more specifically it refers to the descriptive verbal attributes and concrete symbols such as a Direct marketing is a sub-discipline and type of Marketing. There are two main definitional characteristics which distinguish it from other types of marketing Product placement, or embedded marketing, is a type of Advertising, in which promotional Advertisements placed by marketers using Public relations (PR is the practice of managing the flow of Information between an Organization and its Publics Public relations - often referred Publicity is the deliberate attempt to manage the public's perception of a subject Sales promotion is one of the four aspects of Promotional mix. An underwriting spot is an announcement made on Public broadcasting outlets especially in the United States in exchange for funding Printing is a process for reproducing text and image typically with ink on Paper using a printing press To publish is to make content Publicly known. The term is most frequently applied to the distribution of text or images on paper or to the placing of content For the band see Broadcast (band Broadcasting is the distribution of audio and/or Video signals which transmit Out-of-home advertising (also referred to as OOH) is essentially any type of Advertising that reaches the consumer while he or she is outside the home (or office Internet marketing, also referred to as web marketing, online marketing, Internet advertising, or eMarketing, is the Marketing A point-of-sale display (POS is a specialized form of Sales promotion that is found near on or next to a checkout counter (the "point of sale" Promotional items or promotional products refers to articles of merchandise that are used in marketing and communication programs Digital Marketing is the practice of promoting products and services using digital distribution channels to reach consumers in a timely relevant personal and cost-effective manner In-game advertising ( IGA) refers to the use of Computer and video games as a medium in which to deliver Advertising. Word of mouth, is a reference to the passing of Information by verbal means especially recommendations but also general information in an informal person-to-person A customer is someone who makes use of the paid products of an individual or Organization. Competition is a rivalry between individuals groups nations or animals for territory or resources Sao Paulo Stock Exchangejpg|thumb| Virtual market arena where buyer and seller are not present and trade via intemediates and electronical information Its uses include to help create a business plan, launch a new product or service, fine tune existing products and services, and expand into new markets. A business plan is a formal statement of a set of business goals the reasons why they are believed attainable and the plan for reaching those goals Market research can be used to determine which portion of the population will purchase a product/service, based on variables like age, gender, location and income level. In Biology a population is the collection of inter-breeding organisms of a particular Species; in Sociology

Market research is generally either primary or secondary. ^[1] In secondary research, the company uses information compiled from other sources that appears applicable to a new or existing product. The advantages of secondary research are that it is relatively cheap and easily accessible. Disadvantages of secondary research are that it is often not specific to your area of research and the data used can be biased and is difficult to validate. Primary market research involves testing such as focus groups, surveys, field tests, interviews or observation, conducted or tailored specifically to that product.

A list of questions that can be answered through market research:

• What is happening in the market? What are the trends? Who are the competitors?
• How do consumers talk about the products in the market?
• Which needs are important? Are the needs being met by current products?

Market research for business planning

Market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is complete it can be used to determine how to market your specific product.

For starting up a business there are a few things that are important:

• Market information

Market information is making known the prices of the different commodities in the market, the supply and the demand. Information about the markets can be obtained in several different varieties and formats.

Examples of market information questions are:

1. Who are the customers?
2. Where are they located and how can they be contacted?
3. What quantity and quality do they want?
4. What is the best time to sell?

• Market segmentation

Market segmentation is the division of the market or population into subgroups with similar motivations. Widely used bases for segmenting include geographic differences, personality differences, demographic differences, use of product differences, and psychographic differences.

• Market trends

The upward or downward movements of a market, during a period of time. In Investing, Financial markets are commonly believed to have market trends that can be classified as primary trends secondary trends (short-term and secular trends The market size is more difficult to estimate if you are starting with something completely new. In this case, you will have to derive the figures from the number of potential customers or customer segments. [Ilar 1998]

But besides information about the target market you also need information about your competitor, your customers, products etc. A few techniques are:

• Customer analysis
• Choice Modeling
• Competitor analysis
• Risk analysis
• Product research
• Advertising research

See also

• Ad Tracking
• selling process
• A/B testing
• Advertising Research
• Commercial eye tracking
• Copy testing
• experimental techniques
• Global Marketing
• Industry or market research
• Integrated Marketing Communications

• List of marketing research firms

• Marketing
• Marketing Research Association

• Marketing research mix
• Master of Marketing Research

• mTAB

• Observational techniques

• Propaganda

• Quantitative marketing research

• Qualitative marketing research

• QSR International

References

• Market Research, Marketing Research. Competitor analysis in Marketing and Strategic management is an assessment of the strengths and weaknesses of current and potential Competitors This analysis Ad tracking, also known as post-testing or ad effectiveness tracking is continuous in-market research that monitors a brand’s performance including brand and advertising A/B testing (also known as split testing is a method of advertising testing by which a baseline control sample is compared to a variety of single-variable test samples Advertising research is a specialized form of marketing research conducted to improve the efficiency of advertising. Eye tracking is the process of measuring either the point of Gaze ("where we are looking" or the motion of an Eye relative to the head Copy testing is a specialized field of marketing research, it is the study of television commercials prior to airing them Experimental research designs are used for the controlled testing of causal processes The Oxford University Press defines global marketing as “ marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences similarities and Industry or market research is the acquisition of corporate intelligence on a broad range of issues including Macroenvironment Economy Integrated Marketing Communications (IMC according to The American Marketing Association, is “a planning process designed to assure that all brand contacts received This is a list of Marketing research firms. In the case of research groups or conglomerates the location of the headquarters of the parent entity is given In popular usage "marketing" is the promotion of products especially Advertising and Branding However in professional usage the term has a wider meaning of Founded in 1957 the Marketing Research Association is The term Marketing research mix (or the "MR Mix" was created in 2004 and published in 2007 (Bradley - see references Master of Marketing Research ( MMR or MMR) is a graduate degree program that may be from one to three years in length " mTAB " refers to a Market research software developed by Productive Access Inc In Marketing and the social sciences observational research (or field research is a social research technique that involves the direct observation of phenomena in their natural Propaganda is a concerted set of messages aimed at influencing the opinions or behaviors of large numbers of people Quantitative marketing research is the application of quantitative research techniques to the field of marketing Qualitative marketing research is a set of research techniques used in Marketing and the Social sciences in which data is obtained from a relatively small group QSR International is the world’s largest Qualitative research software developer Tools and Techniques. Visha Consultants
• Bradley, Nigel Marketing Research. Tools and Techniques. Oxford University Press, Oxford, 2007 ISBN-10: 0-19-928196-3 ISBN-13: 978-0-19-928196-1
• Marder, Eric The Laws of Choice -- Predicting Customer Behavior (The Free Press division of Simon and Schuster, 1997. ISBN 0-684-83545-2
• Young, Charles E, The Advertising Handbook, Ideas in Flight, Seattle, WA, April 2005. ISBN 0-9765574-0-1
• Kotler, Philip and Armstrong, Gary Principles of Marketing Pearson, Prentice Hall, New Jersey, 2007 ISBN13 978-0-13-239002-6, ISBN10 0-13-239002-7

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