Marketing Research: Uses & Relevance

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  • 0:10 Marketing Research by…
  • 1:31 Determine Media Channels
  • 2:56 Determine Types of…
  • 4:02 Perform Product Testing
  • 5:07 Lesson Summary
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Lesson Transcript
Instructor: Sean Kennedy

Sean has 8 years experience as a supervisor and has an MBA with a concentration in marketing.

Marketing research allows companies to gain information about their business. In this lesson, we'll discuss how to determine which media channels to utilize, different types of communication, and product testing.

Marketing Research by Department

It's not possible for you to have a successful company without any knowledge of your industry. Marketing research helps a company gain information on marketing opportunities and problems and provides a way to create, fix, and evaluate marketing actions. This type of research allows a company to determine the best way to brand its products and create a marketing strategy that's cost effective.

Marketing research is helpful to use throughout the company to determine how efficiently the company is performing. For instance, in the sales department, it would be beneficial to establish the number of sales and how effective the price points are on products. If sales levels are not where a company wants them to be, they may have to lower prices, advertise more, or find new distribution channels.

The customer service department is an important part of business. They are the ones who help customers when they have a question or a problem. Have you ever called a company for help and been asked to participate in a short survey? These surveys are helpful to let the business know how the customer service team is doing and what needs to be fixed.

It's helpful for the product manager to do research on all different aspects of the company. The product manager should determine how to communicate with customers and how to advertise, as well as understand how customers feel about the product.

Determine Media Channels

When introducing a product, you need to decide which media channels should be used to help promote the company. Doing research is an important part of determining which avenues are the best for your company. You could start off by analyzing what methods your competition uses to promote products and use the same media channels. These are some popular methods for media:

  • Facebook
  • Instagram
  • Television
  • Twitter
  • Radio

Using multiple media channels is often a good strategy to reach different customers. Choosing the appropriate media channels is vital to building brand awareness. Facebook can be used for a company to promote brand awareness and communicate with customers. Companies can communicate with customers by posting pictures through Instagram. Television is a way to advertise to customers and promote brand recognition. Twitter allows a company to communicate directly with customers, and a business could use it to give helpful information about their services. Another form of advertising used to promote brand recognition is radio.

Jennifer's Beauty Products needs to establish how to promote its products. Jennifer decides to use Twitter but has not seen much communication. She then decides to use Facebook to help gain awareness and communicate with customers. Jennifer posts pictures of her beauty line and creates an event for a launch party. Just because one avenue is not working doesn't mean all avenues will be unsuccessful.

Determine Types of Communication

While doing marketing research, it's essential to determine how you should communicate with customers. While social media is a media channel, it's also a way to communicate with customers. Facebook allows a company to talk with multiple customers at once or privately. Another way of communicating with customers is through email marketing, which allows a company to promote its products while getting feedback from customers. If a marketing campaign isn't effective, you need to find out from consumers what they don't like and fix the problem. Using a survey is another way for a company to know what customers think of their products.

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