Research Types
When it comes to advertising I think that there are two main types of research that are very important. The first of these would be advertising research. Advertising research is a specialized form of research that is conducted to improve the efficiency of advertising.
Marketing research, I believe, is also a very important type of research when it comes to advertising. Marketing research focuses on consumer and marketer relationships. This could be things like brand loyalty, consumers thoughts and ideas on certain products, and ad effectiveness. This all is very important information for companies to recognize about their products and their target audience. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts consumer behavior (Boon and Kurtz). To be effective in their advertising, a company needs to stay up to date on information about their consumers as well as their consumer’s thoughts about specific problems.
What does Advertising/Marketing Research Do?
Researching consumer’s attitudes towards products, wants and needs, and your target audience’s overall personalities can help you to better market your product and come up with more unique and effective advertising strategies (Brauner). This is not the only thing that researching can do for a company, though. Below is a list of things that can follow good researching efforts (Boon and Kurtz; PowerPoint):
· Help define your target audience and discover the vocabulary they use when talking about a company’s product. This can lead to a more trendy type of advertising that will reach that target audience more effectively.
· Identify consumer wants and needs.
· Measure the reputation of a company.
· Be informed on consumer’s reactions to new product ideas a company may have. Consumers will be able to give their opinion on similar products and how yours will compare.
· What types of product features appeal to your consumers the most. This would be things like size, color, flavor, etc.
· Predict the sales of new products.
· Assess marketing strategies and promotional activities.
· Define your optimal selling propositions and advertising locations
· Gain competitive intelligence. Gain a better understanding of other firm’s products and how to innovate to make them better.
· How many people are exposed to your advertising and how many remember it.
· Whether or not your intended message is the same message your audience is receiving.
As you can clearly see, there are so many benefits to taking the time to conduct research, not only for the company itself, but for the best interest of their consumers and the products they produce.
Research Components
3R’s of Marketing
The 3 R’s of marketing include recruiting, retaining, and regaining; all of which are extremely important. Recruiting is made in reference to new customers. Companies constantly want to be expanding their customer base while retaining their current customers. The other important aspect is regaining lost customers. Companies usually do this by having promotions to get the consumers to come back.
Levels of Relationship Marketing
There are three levels to consider when looking at a company’s client relationships. These levels include:
1. First level: Focus on Price
a. This is the most superficial level and is least likely to lead to long-term relationships.
b. Marketers need to rely on pricing to motivate their consumers
c. Competitors can easily duplicate pricing benefits
*On this level Marketers would need to recognize the importance of their prices to further capture their consumers.
2. Second level: Social Interaction
a. Customer service and communication are key factors
*At this level, advertisers need to consider holding social events to push consumers to choose their product over others. For example a wine shop holding a wine-tasting party
3. Third level: Interdependent Partnership
a. The relationship is transformed into structural changes that ensure partnership and interdependence between the buyer and seller.
*At this level a company is going to want to make all the right moves to sustain their current consumer levels.
Branding
Branding is not about getting consumers to choose your product over competitor’s product. Branding is getting consumers to believe that your product is the only solution out there to their problem. A brand is anything from a symbol, saying, name, sign, or design and branding is what comes from the marketing of that symbol/saying/etc.
References:
Brauner, R. (n.d.). What Does Marketing Research Do?. ronbrauner.com - Practical Advice & Tactical Tips for Marketers. Retrieved October 17, 2011, from http://www.ronbrauner.com/?p=43
Kurtz, D. L. (2012). Boone & Kurtz contemporary marketing / David L. Kurtz (15th ed.). Mason, OH: South-Western Cengage Learning.
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