Author : Johnny Ch Lok
Release : 2019-11-08
Genre :
Kind : eBook
Book Rating : 869/5 ( reviews)

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Book Synopsis UK & US Enterprises Consumer Psychology And Behavioral Relationship by : Johnny Ch Lok

Download or read book UK & US Enterprises Consumer Psychology And Behavioral Relationship written by Johnny Ch Lok. This book was released on 2019-11-08. Available in PDF, EPUB and Kindle. Book excerpt: In general, the specific marketing research major activities include: Research into customer needs and expectation and a variety of qualitative techniques are used to study the often complex sets of expectations that customers have with respect to a purchase. For example, when buying a personal computer, what are customers' expectation with respect to reliability, after -sales support, design etc? Customer satisfaction surveys indicate customer areas of satisfaction or dissatisfaction; how spending money on various forms of communication, such as advertising, sales promotion, and public relations; researching similar industry studies about competitors in completely unrelated business sectors how to improve own marketing effectiveness; researching key client studies about number of customers how to make special efforts to ensure that these customers are satisfied with its standards of service and prices; researching into intermediaries, such as agents dealers are close to consumers to gather information about consumers' needs and expectation. For example in relation to reliability, delivery times and after sales services; researching front line employees their attitude towards the company and researching environmental scanning changing on trends to influence the company development in the future. Structure of market research includes spending on market research, types of market research and potential problem. Market research means researching the the immediate competitive environment of the marketplace, including customers, competitors, suppliers, distributors and retailer. Otherwise, marketing research includes all the above and companies and their strategies and markets of whose products sale or services provision and the wider environment within which operates ( e.g. political, social, economic etc factor influences). Hence, marketing research means the systematic design, collection, analysis and reporting of data and finding relevant to a specific marketing situation facing the organization. In general, the ten most common market research activities for a large retailer data collection, include determination of market characteristics, measurement of market potential, market share analysis, sales analysis, studies of business trends, short range forecasting, competitive product studies, long range forecasting, pricing studies and testing existing products.The reasons why a large retailer needs to conduct that research in new product development include the product must appeal to the customer, timely market research can help the large retailer to predict its client's needs/wants, market research tends to point out success and failure before its product is launched for real and it can save its money and time. A large retailer's market research can be sources by either primary or secondary or both and it can use either qualitative or quantitative or both methodologies and it can achieve objectives either exploratory or descriptive or causal experimental.