Market Research Fundamentals and Methodologies
Core Market Research Definitions
Market Research (MR): Market research is the structured and objective process of collecting, analyzing, and interpreting information about markets, consumers, and competitors in order to reduce uncertainty and support effective business and marketing decisions.
Primary Research: Primary research refers to the collection of original data specifically designed to address a particular research problem, using methods such as surveys, interviews, experiments, or focus groups.
Read MoreFundamentals of Marketing: Concepts, Environment & Strategies
Definition and Scope of Marketing
Marketing means identifying customer needs and wants and satisfying them profitably by providing the right product, at the right price, at the right place, and at the right time. The scope of marketing is very wide. It includes product planning and development, pricing decisions, promotion, advertising, sales promotion, distribution, branding, packaging, warehousing, transportation, after-sales services, customer relationship management, and customer satisfaction.
Read MoreMarketing Funnel, Brand Valuation & Product Innovation
Marketing Funnel Stages and Marketing Start
1. Visitor 2. Lead 3. MQL 4. SQL 5. Opportunity 6. Customer. Related to marketing funnel, but marketing does not start at the awareness stage.
It starts with analytical marketing (segment analysis of the market) → next is strategic marketing (making decisions – choose segments, positioning, objectives) → operational marketing (marketing funnel with marketing mix).
Visitor
- Reads and leaves
- Does not reach landing page
- Does not share personal data
- Does not
Beauti-Tone Green Line: Positioning and Communication Strategy
Brand Positioning and Communication Analysis
Unclear Positioning Impact
Unclear positioning weakens brand relevance in the market because consumers do not clearly understand what the brand stands for. This reduces trust and credibility. If the brand does not clearly communicate how it is different from competitors, it becomes forgettable. When consumers do not see clear benefits or reasons to choose the brand, competitors with stronger and clearer positioning become more attractive.
Brand Situation
Read MoreAuthenticity Versus Fame in Social Media Marketing
Authenticity in Social Media Marketing
What if social media marketing no longer depended on fame, but on authenticity? This question has become increasingly relevant as platforms such as TikTok and Instagram have started hiring everyday people to promote products instead of relying only on famous influencers.
Relatability and Natural Promotion
On the one hand, ordinary users often appear more relatable to audiences. If a product is shown by someone with a normal lifestyle, viewers may feel that the
Read MoreStrategic Brand Management and Equity Fundamentals
Defining the Brand and Its Elements
A brand is a “name, term, sign, symbol, or design intended to identify the goods and services of one seller and to differentiate them from those of the competition.” It is also “the promise, the big idea, and the expectations that reside in each customer’s mind about a product, service, or company.”
Brand elements include the name, logo, symbol, package, and design.
Product Differentiation and Levels
There are three levels of product differentiation:
- Core product
- Actual