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Showing posts with the label Competitive market

Quantitative Research vs Qualitative Research- What your approach

The process of conducting primary market research and collecting market research data and information can be broken down into two methods; quantitative and qualitative research. Each method involves a different process, and reveals different information. However, it has been noted by business professionals and academic experts that in order to gain a full understanding of a business environment, the market place and the consumers within it, it is wise to conduct both quantitative and qualitative market research . Quantitative Market Research Quantitative market research is the collection of numerical data often resulting in statistical analysis to understand trends in the data. The main characteristic of quantitative market research is that it allows for comparisons and trends in the data to be easily found and understood. It should also be noted that as a result of the standardised questions, quantitative market research is a more structured market research proces

Think Beyond Purchase – Understand Shopper’s Journey

Today marketers understandably tend to possess over purchases. Even if they understand an entire consumers journey leads up to a purchase, the actual sale is the tangible result of all their efforts and the thing that puts money in the exchequer. That means many ends up focusing on where that purchase gets made, either online or in-store. This is an important data point, in our research people preferred purchase certain things from online and some from store. But the truth of today shopper’s before purchase any thing they browse and research online whether they have intend to buy from store. In our research we talk some shoppers regarding their purchase journey about 60-80% people browse and research online and see the factors like features of the product, customer reviews, pricing & warranty before make any purchase. Omnichannel Channel Strategy Wins- In Some categories We talk about apparel, how you should buy something without trying it on? As in our research a

In the age of assistance, delivering growth starts with predicting future by beholding data

As a marketer, chances are you’ve used consumer insights to understand what your customers want and then delivered relevant experiences to them. But have you ever used intent signals to predict what your customers want? Today, marketing technology allows you to do just that. The reality is the customer journey is nothing short of dynamic. As the journey continues to shift and change shape, it’s becoming harder for marketers to make sense of all the consumer intent signals people leave behind. Because as people look for what they need, they switch between channels and devices. They may conduct a research and saw the journey of the customer from start to end. Marketers have had to navigate these twists and turns by juggling first- and third-party data, probabilistic modeling, or remarketing. But all of that manual juggling simply won’t cut it. Today’s consumers expect more. They want assistance at every step. Therefore, as marketers, we need to be one step ahead of our customers —

Achieve the goal with automated marketing

As a business, you know how hard it is to keep up with customers today. People have become research obsessed for most purchases and expect brands to assist them in a personally relevant way at every stage of their purchase journey.   Machine learning is one automation tool that can boost your efforts to meet people’s high expectations. Machine learning can help to create automated marketing campaigns, at scale, that place the right message in front of the right customer at the right time at the right price, delighting people and delivering the business results marketers want. We talked  with top brands decision makers who have adopted machine learning to improve their marketing, we’ve found that the top-performing brands are applying these below rules and asking themselves these questions to achieve goal with automated marketing: Optimize your campaigns for growth : Machine learning is only as good as what you ask it to optimize. Top performers optimize the c

Chatbot’s: Future of market research

Business Insider  experts predict that by 2020, 80% of enterprises will use chatbots. According to  Lauren Foye , by 2022, banks can automate up to 90% of their customer interaction using chatbots. A survey conducted by  Spiceworks  showed that 40% of large companies employing more than 500 people plan to implement one or more intelligent assistant or AI-based chat robot over corporate mobile devices in 2019. According to Relay, 65.1% of companies using chatbot technology are engaged in web software, and 58% of companies using chatbots technology are focused on B2B. According to  Drift , 27% of adult clients in the United States are ready to purchase basic goods through a chatbot, 13% of adults in the US have at least once bought expensive items using chatbots. According to  Adobe , 28% of leading companies use AI for marketing, while 31% plan to use AI in the next 12 months. According to  Opus Research , by 2021, 4.5 billion dollars will be invested in chatbots. Customers boldl

Solutions that differentiate You

We all know that unless we’re different from our competitor, we can never expect the price we get to be more than what they get.  We also know unless we show customers what makes us different, there is little reason for them to buy from us because of our services & our customer-oriented approach. Challenges you face is to differentiate yourself to ensure you stand apart from your competitor in terms of your services, prices & delivery. Below are some ways you can differentiate yourself from others in terms of solutions. Start with your own : You’re far better understand about market & customer. Your competitors can’t sell  you ; only you can do that.  You may think your customer cares only about your product as a commodity. Stand apart by asking your customers better questions that are more insightful than anything they’ve heard they only think.  Be the pro-active person you know you are, not just in your mind but also in your actions with your customer.  M

Business Growth is Our Aim

When someone first sets up in business, he/she may have some unstated aims or objectives - for example to survive for the first year. Other businesses may wish to state exactly what they are aiming to do, such as Amazon, the Internet CD and bookseller, who wants to "make history and have fun". An aim  is where the business wants to go in the future, its goals. It is a statement of purpose, e.g. we want to grow the business into Europe. Goal setting is one of the most important activities you can do in your business, regardless of how old your business is, where you are located, how profitable it is, or what you sell. Goals help you stay focused and they can prevent your business from becoming stagnant. Your business goals keep you moving forward and set the stage for ongoing success.  Although we often think of goal setting as something we do at the start of every year, the truth is that it is extremely important to work on your business goals all year long. Y

Changes Ways of work for business you need.

If you relying on the same technology, ideas and strategies that may have worked in the year’s past. Today’s marketplace is completely change, global marketplace demands quick responses to economic conditions in order to remain in business. Making change happen in a business involves planning and organizing activities that help your employees understand the impending changes and teach them how to transform their work processes. Challenges faced in supporting change management activities include resistance from employees and customers. Communicate your intentions clearly and honestly to inspire people and make them realize the future benefits them. Every Business will work for some purpose and passion, to attain. Whether creating transparency, improving accuracy, or simply obtaining data to make faster or  better decisions , organizations are rethinking the way work gets done.   Communicate your vision. Clearly identify the scope of changes. People need to understand th

Creating Business Ideas that Works for you | Do Some Market Research

Not every entrepreneur starts out with a specific idea in mind. And with so many small business ideas, through some market research finding the right one is easier said than done. It may seem like all of the good business ideas or the best small ideas have been taken, but they are not. Most successful small business ideas come from individuals who work for someone & do some market research and get idea about the market and they believe they can do better. Some might start out as employees or apprentices for other businesses and then gradually build up the skills and experience before they set out on their own. But with the right idea, do the work in niche frame and in particular direction  and determination, they can make their dreams of having their own small business come true. Get Ideas for Your Business:  https://www.jaspercolin.com/

How Market Research help you to maximize ROI for your business

ROI : ROI stands for (Return on Investment) so what type of return you are seeking from your business, there are different ways to improve your ROI. Your returns can be measured as per your business needs it may be increased profits, intangible benefits such as improved operating efficiencies or increase brand awareness. Firstly, you should define your goals and settings as many quantifiable benchmarks as possible will help you to increase your payback on the different initiatives you take to improve your company. Define “Return”: The first step in improving your return on an investment is to clearly define the potential return you might get from your investment. These may be increased revenues, profits, reduced overhead, higher employee retention, increased brand preference or fewer government regulations, better customer satisfaction. If possible, set multiple benchmarks to measure your goals. For example, instead of setting a goal for whole you should measure during a specifi