Marketing research and Trends in Marketing BA4207 Anna University UNIT 5

Marketing Information System – Marketing Research Process – Concepts and applications: Product –Advertising – Promotion – Consumer Behavior – Retail research – Customer driven organizations – Cause related marketing − Ethics in marketing – Online marketing trends - social media and digital marketing

1. Marketing research and Trends in Marketing Mrs. Rhema Joy Sharath

2. Syllabus Marketing Information System – Marketing Research Process – Concepts and applications: Product –Advertising – Promotion – Consumer Behavior – Retail research – Customer driven organizations – Cause related marketing − Ethics in marketing – Online marketing trends - social media and digital marketing

3. Marketing Information System (MIS) A system in which marketing information is formally gathered, stored, analyzed and distributed to managers in accord with their informational needs on a regular basis is called Marketing Information system FUNCTIONS : Collecting and assembling data Processing of data Analyzing the data Storage of data Dissemination of information

4. Subsystems Constituting the MIS A marketing information system includes four subsystems The internal accounting system , which provides measures of current activity and performance; The marketing intelligence system , which gathers and makes available information on developments in the environment; The marketing research system , which gathers, evaluates, and reports the information required by executives for problem-solving, planning, and development of marketing strategies; The marketing management science system or decision support system helps executives analyze complex marketing problems and operations, often through analytical models.

5. Limitations of MIS MIS Software is expensive Requires new set of skills Depends on database Not preferred – Large and difficult to manage

6. Marketing Research Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Functions of Marketing research: Identifying marketing opportunities and constraints Understanding the competitive environment Predicting the results Minimizing the risk Evaluating success

7. Marketing Research Process Step 1: Define the Problem, the Decision Alternatives, and the Research Objectives Step 2: Develop the Research Plan Step 3: Collect the Information Step 4: Analyze the Information Step 5: Present the Findings Step 6: Make the Decision

8. Objectives of Marketing Research: Discovering the new markets Analyzing tastes & preferences of customers Reducing the cost of marketing Suitable price policy formulation Liaison with ultimate consumers Greater market share To know future sales volume Quality of products Facing competition To study external environment

9. Concepts and applications of market research: Product Opportunity identification Concept screening Market Strategy Development Product Development Market testing Product Introduction Staggered comparison test Paired comparison test non-directive test

10. Advertising & Promotion Advertising Strategy Research Target Audience Product & its positioning Communication media Advertising message-Element Creative Concept Research Pre-Testing & post-Testing (Pre-testing helps in sharpening advertising variables) Merchandise (features & benefits of product) Markets Motives (identify & appeal to needs & wants) Messages Media

11. Consumer Behavior Research Determining demographics of existing & potential users Identify customer needs & product expectation levels Identify factors influencing purchase decision Ascertain the level of customer satisfaction

12. Retail research Retail market research is the process of collecting and analyzing data about the retail industry, including consumer behavior, market trends, and competitive landscape. It involves gathering information about customer preferences, purchasing patterns, demographics, and economic factors that impact the retail sector.

13. Customer driven organizations Customer driven marketing involves the products or services from the customer’s perspective and communicating the messages in the customer’s language.

14. Strategies of Customer Driven Organisation Customer and business intelligence strategy Branding and marketing strategy Online interactivity strategy Marketing approach Real-time knowledge transfer approach

15. Cause related marketing Cause related marketing can be defined as a strategic positioning and marketing tool which links a company or brand to a relevant social cause or issue for mutual benefit. According to Thompson, “Cause-Related Marketing is the public association of a profit company with a non-profit organization, intended to promote the company’s product or service and to raise money for the non-profit.”

16. Types of Cause related marketing

17. Examples of Cause-related marketing

18. Objectives of Cause related marketing Increase Sales. Enhancing Corporate Stature. Thwarting Negative Publicity: To prevent the occurrence, realization, or attainment of. Negative publicity is a deliberate attempt to manage the public's perception of a subject with an intention to demote it to an extent that it arouses public interest in it. Customer Pacification. Facilitating Market Entry. Increase the level of Trade Merchandising Activity for the Brand(s) Promoted.

19. BENEFITS Attracting and retaining customers Creating positive image of brand Market differentiation Connect with niche markets Motivated and loyal employees Reinforced company mission Raise funds for social cause Favorable public reputation Mutual benefit Sustainability LIMITATIONS Risk of being perceived negatively Main purpose is profits not charity Charity as a marketing tool Negative publicity harmful for non-profit organisations Not-investment free Dependent on public perception

20. Ethics in marketing Ethics is defined as standards of conduct that indicate how one should behave based on moral duties and virtues. Norms : are established standards of conduct that are expected and maintained by society and / or professional organization. Values represent the collective conception of what people find desirable, important and morally proper.

21. Ethical issues in marketing Ethical issues relating to product: Quality of product Safety of product Packaging and branding issues

22. Ethical issues in marketing Ethical issues relating to price Price fixing Price skimming Price discrimination Variable pricing Predatory pricing

23. Ethical issues in marketing Ethical issues relating to promotion Prompts people to buy more than they can afford Stimulates materialism Perpetuates stereotyping Creates offensive advertisements Promoting unhealthy products Puffery Clickbait Child exploitation

24. Ethical issues in marketing Ethical issues relating to place Collusion Discriminatory pricing Predatory pricing Territorial restrictions

25. Online marketing Online marketing , also known as digital marketing, is the practice of leveraging web-based channels to spread a message about a company's brand, products, or services to its potential customers.

26. Features of online marketing

27. Advantages of online marketing Global reach Unrestricted Growth prospects Scope for enhancing customer value and customer services Building strong relationships with customers Reduces cost Boosts productivity of sales people

28. Disadvantages of online marketing Not suitable for all types of products Involves large investments Profitability issues Risk towards customer information Distrust over virtual marketers

29. Online marketing trends & techniques Email marketing Article marketing Viral marketing Buzz marketing Forum marketing SEO Marketing Social media marketing

30. Social media and digital marketing Social media marketing uses social media platforms as a key channel to share your messaging. Social media marketing can be paid ads, organic content, or user-generated content. Social media marketing is commonly used by ecommerce businesses. Online communities and forums Blogs Social networks

31. EMAIL marketing E-mail allows marketers to inform and communicate with customers at a fraction of the cost of a “d-mail,” or direct mail, campaign

32. Article marketing Article marketing involves creating valuable and informative articles and placing them strategically on the internet to promote a website and drive traffic to it.

33. Viral marketing Viral marketing is another form of word of mouth, or “word of mouse,” that encourages consumers to pass along company-developed products and services or audio, video, or written information to others online.

34. Buzz marketing Buzz marketing generates excitement, creates publicity, and conveys new relevant brand-related information through unexpected or even outrageous means. Buzz Marketing campaigns go viral much faster. It uses taboo, unusual, remarkable, outrageous, hilarious and secret content.

35. Forum marketing Forum Marketing is just another internet marketing strategy to get traffic to your blog for free. Forum marketing focuses on specific subjects so people who joined the particular forum can get access to more detailed information.

36. SEO Marketing Search engine optimization (SEO) is a marketing strategy aimed at improving a website's visibility on search engine results pages. Techniques include keyword optimization, quality content creation, link building, improving site speed, and mobile-friendliness.

37. Interactive marketing Companies must design Web sites that embody or express their purpose, history, products, and vision and that are attractive on first viewing and interesting enough to encourage repeat visits.

38. Pay-per-click ads A hot growth area in interactive marketing is paid search or pay-per-click ads, which now account for roughly half of all online ad spending

39. Display ads Display ads or banner ads are small, rectangular boxes containing text and perhaps a picture that companies pay to place on relevant Web sites.

40. Interstitials Interstitials are advertisements, often with video or animation, which pop up between changes on a Web site

41. Word of mouth Consumers use word of mouth to talk about dozens of brands each day, from media and entertainment products such as movies, TV shows, and publications to food products, travel services, and retail stores.

42. Mobile marketing With cell phones’ ubiquitous nature and marketers’ ability to personalize messages based on demographics and other consumer behavior characteristics, the appeal of mobile marketing as a communication tool is obvious.

43. Telemarketing Telemarketing is the use of the telephone and call centers to attract prospects, sell to existing customers, and provide service by taking orders and answering questions.

44. Catalog marketing In catalog marketing , companies may send full-line merchandise catalogs, specialty consumer catalogs, and business catalogs, usually in print form but also as DVDs or online.

45. Ambush marketing Ambush marketing is the strategy adopted by a company or brand that takes advantage of others' marketing campaigns to gain exposure and profit. The main purpose of it is to make the customers believe that the marketing campaign is associated with a certain event, sport, or team. Using another firm's promotion material to promote their own firm.

46. Direct-mail marketing Direct Mail Marketing is a type of direct marketing that's delivered physically to a prospect's mailbox through the postal service or other delivery service.

47. Green marketing Green marketing is  the practice of promoting products or services that are sustainable and eco-friendly .

48. Stealth marketing Stealth marketing is the act of marketing a good or service to someone without them realizing they're being marketed to. A good example of this is product placement in a movie or TV show. You may notice that certain characters in the show only use a certain type of computer, or only drive a certain type of car. This is because those companies paid to be featured.

49. Affiliate marketing Affiliate marketing is a strategy in which a company pays commission to an external website for sales that are generated via their website referrals. This is commonly used in combination with influencer marketing strategies to target a very focused demographic of consumers.

50. Guerrilla marketing Guerrilla marketing is  the creating use of novel or unconventional methods in order to boost sales or attract interest in a brand or business . These methods are often low- or no-cost and involve the widespread use of more personal interactions or through viral social media messaging.

51. Thank you Mrs. Rhema Joy Sharath