In this lecture we will focus on the first two of the three primary data collection methods observation and experimentation. Starting with observation, we will discuss the various approaches to observation research and its advantages and disadvantages. I will also go over human observation and the relatively new method of ethnographic research. Many of the methods of machine observation including tracking and virtual reality an augmented reality marketing research will be featured. The experimental research section will define experimental research and discuss test markets.
To create effective marketing strategies that connect with your target, leveraging the opportunities in your industry which utilize your company’s strengths most effectively, you must first understand the environment in which marketing operates. In this lecture, I will present an overview of the entire marketing research process; problem definition, research design, sampling, collecting, analyzing the data and finally, presenting the report. I will also discuss all the components for creating a research request and a request for proposal.
In this lecture, we delve into them anyways we can get into insights into the consumers buying process through qualitative research. we will go over the uses of qualitative research the limitations and spend a good part of the discussion on the most popular method, focus groups.
Explaining how we use the secondary data to develop marketing research proposals will be the focus of this lecture. All the types of secondary data collection methods will be overviewed as well as discussing how Big Data breakthrough and marketing analytics are moving to the forefront and modifying the research process.
The marketing strategy and planning are all guided by the organization’s overall strategic plan. We will first discuss those strategies and the importance of partnerships in creating customer value. We will then examine how the choice of target markets influence a myriad of decisions in the development of the marketing offerings, mix and program.
In our final lecture, we will put it all together and review all the concepts as we go through all the elements of the full marketing plan report. We will review the marketing management functions including how to prepare the report. The importance of control; measuring and managing the marketing return on investment (MROI) as well as other marketing metrics will be explained.
Explaining how we use the secondary data to develop marketing information systems will be the theme of this lecture. How to develop those marketing information system and acquire the data points to help management develop actionable customer insights will be emphasized. As well as the different research options to collect, manage, and analyze data about crucial elements in their market space.
Once we have completed the market segmentation course and understand the role of marketing, we have to start separating customers to establish market coverage strategies. We have already touched on this in the program on Tele-Selling. This approach will be the “deep dive” approach to establishing territories to assign to salesmen.
From our segmentation study, we will review the various approaches: machine ownership, customer relationship for parts, and customer relationship for service. We will then group the segments in a manner that leads to effective use of a Product Support salesman’s time in the field with the customers, or the In-Store sales force using the telephone. We will also touch on the role that the internet market coverage will play in both of them.
Territory assignments have to take into consideration the mileage expectation, the total travel time, the total number of machines, the total sales volumes for both parts and service, and historical relationships. This again will discuss the calculation of the potential for each customer based on the actual use of the machine, as well as the hours it works per year. All of this is used in the approach we cover in this program to establish market coverage – to establish a sales territory.
One of the most important and significant activities in which we can be involved, in our professional lives, is helping in the development of the younger less experienced employees. Whether it is a direct coaching job or when we mentor the younger less experienced workers, we have a responsibility to transfer our knowledge to them. In older times each new employee was assigned to a “mentor” with whom they spent time. They would take breaks together, have lunch together, and this new employee worked as if they were helpers for the experienced employees. This is also a critically important job of leadership. The leaders must coach their employees to be all that they can be. The dilemma with this is that not everyone is good at transferring their knowledge and some employees will just not do it. Selecting the proper people to assign this responsibility is critical. Starting through all of the job functions, from the beginning to the end. Communicated in a different manner from the time the employee arrives at work until they leave at the end of the day. Everything and anything that pertains to the work. This is part of developing a strong corporate culture. Culture is aimed at your heart. In this style of “onboarding” new employees, each person will feel part of the team. This is an extremely important function and this class will help you avoid the difficulties in performing this function.
One of the most important and significant activities in which we can be involved, in our professional lives, is helping in the development of the younger less experienced employees. Whether it is a direct coaching job or when we mentor the younger less experienced workers, we have a responsibility to transfer our knowledge to them. In older times each new employee was assigned to a “mentor” with whom they spent time. They would take breaks together, have lunch together, and this new employee worked as if they were helpers for the experienced employees. This is also a critically important job of leadership. The leaders must coach their employees to be all that they can be. The dilemma with this is that not everyone is good at transferring their knowledge and some employees will just not do it. Selecting the proper people to assign this responsibility is critical. Starting through all of the job functions, from the beginning to the end. Communicated in a different manner from the time the employee arrives at work until they leave at the end of the day. Everything and anything that pertains to the work. This is part of developing a strong corporate culture. Culture is aimed at your heart. In this style of “onboarding” new employees, each person will feel part of the team. This is an extremely important function and this class will help you avoid the difficulties in performing this function.