In Indonesia, Malaysia and Saudi Arabia for instance, all the meats they use are halal meats and they use no pork. In India McDonald does not serve products which is made of beef. They provide friendly and fast services to their customers.
This can be done by building and maintaining the relationship with them. Service at Giordano is excellent and the retail chain has been voted in three successive years as the top retailer in Singapore. Giordano is providing customers with reliable products or services at competitive price and easy available. It sells value-for-money casual cloths with stores located at convenient locations such as near underground train stations and in housing estates.
This article outlines some basic guidelines to help you decide if a private panel is right for your company. What is a brand, and why do brands matter? What is brand equity or a brand franchise? And how do you measure and manage brand equity to maximize profits over the long term?
The strategic implications of the Internet are far reaching—for global commerce, for global marketing, and for global marketing research. Most analysts define operations research and management science to mean the application of the scientific method and advanced analytics to the solution of business problems. There is an objective function; that is, a mathematical definition of the object or thing to be optimized to maximize profits or sales revenue or minimize costs, typically.
Conducting opinion research among businesses is problematic. This is particularly evident at the simplest level of analysis, customer segmentation. However, segmentation techniques are evolving and techniques that were common practice in the recent past are rapidly being supplanted by newer, more meaningful segmentation techniques. While this white paper will focus on clinics to evaluate new cars and new trucks, the same concepts and methods can be applied to a wide range of durable goods bulldozers, construction cranes, lawn mowers, chain saws, vacuum cleaners, refrigerators, washing machines, and hundreds of other long-lasting products.
A look at how the calibration of survey-based choice models can make a substantial difference in predicted demand and revenue resulting from price changes.
Calibration of brand part-worth utilities based on in-market data such as that derived from store scanner data can deliver more accurate measurement of price elasticity and better market predictions of demand response due to price changes. An overview of the benefits of several technical advances in choice analysis, including experimental design algorithms, segment- or customer-level models, and model calibration. The recent advances discussed in this paper have the potential to reduce survey length for choice modeling research and deliver more accurate market simulators to measure bottom-line revenue impacts.
Choice modeling makes it possible to simulate the shopping and decision-making process, with all of the important variables carefully controlled by rigorous experimental design, so that the new product's sales revenue can be accurately predicted. Equally important, choice modeling helps marketers understand the many variables that underlie that forecast.
Segmentation approaches can range from throwing darts at the data, to human judgment, to advanced cluster modeling. We will explore four such methods: Successful win-loss research programs are built around a well-tailored research tool that collects crucial information from decision makers and influencers who are involved in the sales decision process. The overall goal of the research is to determine what factors are used as decision criteria in selecting a company for a project.
A well-designed, new product concept testing system, overseen by experienced and knowledgeable researchers, can vastly improve a company's ability to develop successful new products or services.
This article suggests some guidelines and best practices on improving new product concept testing. The focus of this paper is to examine the major decision-making models, strategies, and theories that underlie the decision processes used by consumers, and to provide some clarity for marketing executives attempting to find the right mix of variables for their products and services. Most word-of-mouth WOM marketers would agree that having a great product is a major key to the success of a word-of-mouth campaign.
However, coming up with and developing great product ideas that will be talked about can be a daunting task. The study of customer satisfaction, or customer experience, or whatever the latest moniker is, does not occur in a vacuum; typically, it takes place in the context of the large corporation. Large organizations have tendencies, or peculiarities, that often complicate the process of measuring, understanding, and using customer satisfaction or customer experience data.
The advertising media landscape is aglitter with new possibilities. Social media is everywhere. Massive shifts of media dollars away from traditional media television, radio, print to the new digital media are evident everywhere. A brief look at advertising tracking research in the age of social media and the internet. An executive understanding of eleven multivariate analysis techniques, resulting in an understanding of the appropriate uses for each of the techniques.
This is not a discussion of the underlying statistics of each technique; it is a field guide to understanding the types of research questions that can be formulated and the capabilities and limitations of each technique in answering those questions.
PepsiCo and Decision Analyst recently presented the results of ground-breaking endcap optimization research at a large annual U.
Communities can be a viable open innovation source. This article contains six simple steps to making an innovation community effective. Even though the focus group has become a widely used research technique in the past two decades, a lot of folks still don't know what goes on behind closed doors.
So what is marketing research? Marketing research is collecting data in an unbiased manner and translating that data into information, which can help solve marketing problems. Marketing research includes experiments, surveys, product tests, advertising tests, promotion tests, motivational research, strategy research, customer satisfaction monitoring, and many other techniques. By examining early adopters of new technologies from a number of countries, an understanding can be gained of whether fatigue has set in, how, and why.
Developing segmentation solutions that are global in scope requires dealing with cross-cultural differences in scale usage. Given cross-cultural differences in scale usage, marketing research analysts frequently develop ways to adjust survey responses, so that a particular survey response value means the same thing regardless of country of origin. Many of the corporate leaders in iHUTs 75 years ago, if still in business today, have lost the art of in-home usage testing, or lost the budgets to do serious in-home research.
Customer satisfaction and loyalty surveys typically track brand perceptions both overall and with respect to specific performance areas.
For example, a survey might ask customers to rate brands based on overall satisfaction, likelihood to purchase again, likelihood to recommend, customer service, product performance, and brand image.
Time-series cross-sectional TSCS modeling incorporates both across-units and across-time variation in data variables.
The results from this application illustrate the value of adding the time-series component to the analysis. A humorous article about how advertising agencies can defend their advertising from marketing research attack.
While you can control many factors that influence consumer satisfaction and perceptions, other factors are beyond the control of even the most attentive store manager. In this time of rising prices and uncertainty, it is helpful to understand what external market and economic factors are impacting the attitudes and perceptions of consumers.
The the solution to marketing and business problems—and the identification of strategic opportunities—often lies in the realm of little data, not big data. The great opportunity is not more data faster, but better data—and better analytics. The magic of idea-centric creativity offers a new way for corporations to re-invigorate their new product development programs using consumers who are exceptionally creative individuals who posess idea-centric creativity.
When the term "market segmentation" is used, most of us immediately think of psycho-graphics, lifestyles, values, behaviors, and multivariate cluster analysis routines. Market segmentation is a much broader concept, however, and pervades the practice of business throughout the world. A look at how marketing mix modeling can assist in making specific marketing decisions and tradeoffs, and also create a broad platform of knowledge to guide strategic planning.
Marketing is tricky business and a dangerous career. Using the Decision Analyst Economic Index to track consumer sentiment and predict the future through the use of forecasting models.
The earth is shifting beneath our feet. Smartphones, iPads, and tablet computers combined have surpassed PCs in number of units shipped annually. These highly portable devices, and the new technologies embedded in them, represent tectonic shifts in research possibilities. Despite the shock and rubble of tectonic upheaval, new opportunities are visible through the clouds of confusion.
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