Marketing Research and Digital Marketing

What is Marketing Research?

Marketing Research is defined as a study that consists of multiple techniques used by companies
in order to gain more information about their target audience and the current market. Market
research helps to gain information regarding current trends, profits, losses, economic and social
factors affecting the market, and market strategies used. By utilising the gained information the
companies and producers improve the overall quality of their products, their advertisements, and
other marketing strategies.

Marketing Research helps companies to know the requirements of their customers and develop
strategies that will help them reach out to their customers easily. As the market grows for a
particular product, there increases the involvement of parties other than producers and
consumers. This decreases the direct gap between both. Therefore the use of marketing research
becomes necessary as it helps to get the required information.

Scope of Marketing Research

1. Research on Market: Research on Market studies about current market trends and products.
It does a comparison between both the current market and the potential market. It analyses areas
such as:

● Size of market
● Analysis of Market Shares
● Selecting the Target Market
● Analysing the need or demand for new products
● Setting sales territories and quotes
● Assessing current market trends and projecting future market trends

2. Research on Advertising: Advertisements are considered one of the major parts of

marketing. Higher budgets are used to make effective advertisements. The research on
advertising studies areas such as:
● Selection of media that will be used for advertising, such as videos, images, articles,
blogs, podcasts, etc.
● Selection of advertising channels
● Studying promotion elements
● Positive and negative effects of advertisement in society and market
● Advertising role at different stages of product life cycle
● Government restrictions on advertising
● Studying competitors’ advertising strategies and practices

3. Research on Pricing: The price of the product is the major aspect considered by consumers
while purchasing the product. Therefore proper research is made regarding the pricing. Having
relevant pricing is important to attract more customers. The research on Pricing makes an
analysis on below points:

● Studying pricing policies

● Studying offers and discounts
● Comparing the quality and price
● Use of various strategies for setting prices
● Pricing strategies on different stages of the product life cycle
● New product and pricing policies

4. Research on Distribution: In today’s Marketing world, distribution plays a vital role in the
success of the product. The selection of a proper distribution channel is important. Many
distribution channels are being used between producers and consumers. Research on distribution
includes the below analysis:

● Studying various distribution channels

● Selecting from direct and indirect distribution channels
● Studying online marketing
● Studying factors and strategies used for distribution
● Study on physical distribution and ancillary services
● Legal issues related to distributions
5. Research on Product: Research on Products involves detailing with the products and
services. The research covers all the issues and details that are related to the product.
Understanding the use and quality of the product is essential before it is launched in the market.
Therefore, research on products is important. It covers the study of below points:

● Characteristics of product
● Uses of product
● Studying other competitors available in market
● Studying about problems of consumers.
● Studying the lifecycle of products, packaging, sale, etc.
● Determining the uses of existing products
● Finding out the need for new product development
● Product life cycle
● Consumer Adoption Study

6. Research on Sales Methods and Policies: Research on Sales Methods and Policies consists
of a study that is related to sales of the product. For sales, the distribution of products is
important. The strategies used for sales improve the overall business and its profit. This study
covers below points:

● Studying sales methods that are currently being used

● Analysis of sales records
● Management of sales force with parameters such as size, control, etc.
● Studying the sales department
● Study of advertisements, incoming customer traffic, etc.
● Study on activity and effectiveness of salesmen

7. Research on Business Environment and Corporate Responsibility: Research on the

Business Environment and Corporate Responsibility consists of a study that is related to
marketing problems. This study is conducted for big businesses and analyses the data. It helps
the business to work on its business strategies and work accordingly. This research involves
analysis on:
● Availability of product-related resources
● Long-term and short-term goals of the business
● Social, financial, and cultural factors that affect the business
● Income, economic growth, and Policies for business
● Impacts of Acts and Legal Provisions
● Technological Aspects

Features of Marketing Research

Systematic Process
Market research is a structured and organized process that follows a set of steps to ensure the
collection of accurate and reliable data. It involves defining the problem, designing the research
methodology, collecting data, analyzing findings, and drawing conclusions.

Data Collection
This involves gathering relevant information from various sources, including primary data
(collected directly from the target audience through surveys, interviews, etc.) and secondary data
(existing data from sources like market reports, government publications, and industry studies).

Analysis and Interpretation

The collected data is analyzed using statistical techniques and qualitative methods to extract
meaningful insights. Interpretation of the findings helps in understanding market trends,
consumer behavior, and competitor activities.

Objective Approach
Market research is driven by specific objectives or research questions. These objectives guide the
research process and ensure that the data collected directly addresses the research goals.

Quantitative and Qualitative Methods

Market research employs both quantitative methods (statistical data analysis) and qualitative
methods (in-depth interviews, focus groups) to provide a comprehensive understanding of the
market landscape.
Unbiased and Objective
Effective market research strives to be unbiased and objective. Researchers aim to avoid any
personal biases that might affect the accuracy and validity of the collected data and subsequent
analysis.

Adaptability
Market research methodologies can be adapted to suit different industries, markets, and research
objectives. It can be customized to address unique challenges and opportunities.

Objectives of Market Research

Understanding Consumer Behavior: One of the primary objectives of market research is to gain
insights into consumer preferences, buying behavior, needs, and expectations. This information
helps businesses tailor their products, services, and marketing strategies to better meet customer
demands.

Market Segmentation
Market research helps identify distinct consumer segments based on demographics,
psychographics, and behavior. This segmentation enables companies to target specific groups
effectively and tailor their offerings accordingly.

Assessing Market Demand

By studying the market, businesses can determine the demand for their products or services. This
information guides production and resource allocation decisions.

Competitor Analysis
Market research allows companies to understand their competitors’ strengths, weaknesses,
strategies, and market positioning. This knowledge helps develop competitive advantages and
informed strategies.

Identifying Opportunities and Threats

Through market research, businesses can identify emerging trends, gaps in the market, and
potential threats. This information aids in decision-making and innovation.
Product Development and Improvement
Feedback gathered from market research aids in the development and refinement of products and
services, ensuring they align with customer preferences and needs.

Pricing Strategies
Market research helps determine optimal pricing strategies by analyzing consumers’ willingness
to pay, competitor pricing, and perceived value

Marketing and Communication Planning

Insights gained from market research guide the creation of targeted marketing campaigns and
communication strategies that resonate with the target audience.

Risk Mitigation
By understanding market dynamics and potential challenges, businesses can proactively mitigate
risks and make contingency plans.

Strategic Decision-Making
Market research provides data-driven insights that inform strategic decisions related to
expansion, diversification, partnerships, and more.

Types of Marketing Research

1. Primary research

Primary research is research that you collect yourself but going directly to the target market
through a range of methods. Because it is data you create, you own the data set.

Two types of results — exploratory information (determines the nature of a problem that hasn’t
yet been clearly defined) and conclusive information (carried out to solve a problem that
exploratory research identified) — from participants are collected as raw data and then analysed
to gather insights from trends and comparisons.
Focus groups – In primary research focus groups, a sample of participants that represent your
target market are brought together (based on demographics and characteristics). A key researcher
or interviewer conducts a conversation where questions are asked about a product or service.
Insights are taken from the answers of the group.

This method is good for getting the views of a lot of people at one time, especially when time is
short, but it comes with its own management issues. The interviewer must prepare a way to
gather answers and record these, while engaging in conversation with many people.

Participants may be affected by the group setting, either from acquiescence bias (the desire to say
yes to please the interviewer), dominance bias (stronger participants can alter the results from
less dominant participants) or researcher bias (where the research leads or impacts the participant
responses indirectly).

One to one interviews – This method is conducted directly between an interview and another
participant, where there is a two-way conversation happening between each member on research
topics. Often, the interviewer will prompt discussion by asking a series of open-ended questions.

This provides a structured setting where the interviewer can listen to what’s being said and
investigate further into an answer. The interviewer can also pick up on non-verbal cues from
body language can help the interview understand where to deep-dive and broaden their
understanding.

However, some of the same biases (acquiescence and researcher) still exit in this format. The
method is time consuming to do the interviews and collect the data afterwards.

Surveys – A survey is a list of open and closed-ended questions that are put together and sent to
a participant digitally — either by email or through a survey software that collects the answers
automatically. Survey questions can vary and using the right survey question for your goals is
important — see this article on survey questions for more information.

A survey is an excellent method for carrying out primary research as participants do need to be
physically present with the interviewer to carry it out. The survey can be completed anywhere
there is an internet connection, meaning there is flexibility for the participants to use different
devices and for interviewers to contact participants in different geographical
time-zones.Preparation is key, however, as the researchers must segment the market and create a
list of participants to send the survey to. Hiring a panel or using existing marketing lists can help
with this.

2. Secondary research

Secondary research is the use of data that has previously been collected, analysed and published
(and therefore you do not own this data). An example of this for market research is:

Desktop research – This can be public domain data from think tanks, government statistics or
research centres. It can also include paid for research from research journals, education
institutions, and commercial sources like newspapers.

Most information is freely available, so there are less costs associated with this kind of secondary
research over primary research methods.

Secondary research can often be the preparation for primary research activities, providing a
knowledge base. The information gathered may not provide the specific information to explain
the results, which is where primary market research would be used to enhance understanding.

There is also a logistics planning need for a recording solution that can handle large datasets,
since manual management of the volumes of information can be tricky.

Both primary and secondary research have its advantages and disadvantages, as we’ve seen, but
they are best used when paired together. Combined, the data can give you the confidence to act
knowing that any hypothesis you have is backed up.

The next market research types can be defined as qualitative and quantitative research types:

3. Qualitative research
Qualitative market research is the collection of primary or secondary data that is non-numerical
in nature, and therefore hard to measure.

Researchers collect this market research type because it can add more depth to the data.

This kind of market research is used to summarise and infer, rather than pin-points an exact truth
held by a target market. For example, qualitative market research can be done to find out a new
target market’s reaction to a new product to translate the reaction into a clear explanation for the
company.

4. Quantitative research

Quantitative research is the collection of primary or secondary data that is numerical in nature,
and so can be collected more easily.

Researchers collect this market research type because it can provide historical benchmarking,
based on facts and figures evidence.

There are a number of ways to collect this data — polls, surveys, desk research, web statistics,
financial records — which can be exploratory in nature without a lot of depth at this stage.

Quantitative market research can create the foundation of knowledge needed by researchers to
investigate hypotheses further through qualitative market research.

5. Branding research

Branding market research assists a company to create, manage and maintain the company brand.
This can relate to the tone, branding, images, values or identity of the company.

Research can be carried out through interviews, focus groups or surveys. For example, brand
awareness surveys will ask your participants whether the brand is known to them and whether it
is something they would be interested in buying.
Additional areas for brand research is also around brand loyalty, brand perception, brand
positioning, brand value and brand identity .

The aim of research will be to understand how to know if:

● Your brand is performing in relation to other competitors

● There are areas to improve your brand activities
● There are positives to showcase to enhance your brand’s image

6. Customer research

Customer market research looks at the key influences on your target customers and how your
company can make changes to encourage sales.

The aim of this research is to know your customer inside out, and continuously learn about how
they interact with the company. Some themes covered by this include:

​Customer satisfaction – Exploring what keeps customers happy, as higher customer satisfaction
is more likely to lead to increased customer retention.
​Customer loyalty – This looks at what experiences have happened to lead to greater customer
loyalty across the customer lifecycle.
​Customer segmentation research – Discovering who the customers are, what their behaviour
and preferences are and their shared characteristics.

Relevant desk research may look at historical purchase records, customer journey mapping,
customer segmentation, demographics and persona templates.

Primary research, such as NPS and customer satisfaction surveys, or customer satisfaction
interviews at the end of customer support calls, can also give more details.

7. Competitor research
Competitor market research is about knowing who your competition is and understanding their
strengths and weaknesses, in comparison to your organisation. It can also be about your
competitive offering in the market, or how to approach a new market.

The aim of this research is to find ways to make your organisation stand out and future planning
through horizon scanning and listening to customer preferences.

For example, for competitive analysis, researchers would create a SWOT for your business and
your competitors, to see how your business compares.

Primary research could interview customers about their buying preferences, while secondary
sources would look at competitor’s market dominance, sales, structure and so on. With this
thorough analysis, you can understand where you can change to be more competitive, and look
for ideas that make you stand out.

8. Product research

Product market research is a key way to make sure your products and services are fit for
launching in the market, and are performing as well as they can.

The aim of this research is to see how your product is perceived by customers, if they are
providing value and working correctly. Ideas can also be formed about upgrades and future
product development.

There are a number of avenues within product research:

​Product branding – Does the product brand and design attract customers in the intended way?
​Product feature testing – this can happen at various stages of development with target markets
(in early development, between versions, before product launch, etc.) to check if there are
positive reaction to new or improved features
​Product design thinking – what solutions would solve your customers’ current or future
problems?
​Product marketing – Do the marketing messages help your product’s memorability and
saleability, or can they be improved?

Primary research methods have a clear advantage in this kind of market research: Surveys can
ask for rankings on the popularity or usefulness of features or conduct conjoint analysis, while
in-person observation interviews (where the participant can handle a product) can be particularly
useful in seeing what customers do with the product in real time.

Process of Marketing Research

Step 1: Identify the Problem

The first step for any marketing research activity is to clearly identify and define the problem
you are trying to solve. You start by stating the marketing or business problem you need to
address and for which you need additional information to figure out a solution. Next, articulate
the objectives for the research: What do you want to understand by the time the research project
is completed? What specific information, guidance, or recommendations need to come out of the
research in order to make it a worthwhile investment of the organization’s time and money?

It’s important to share the problem definition and research objectives with other team members
to get their input and further refine your understanding of the problem and what is needed to
solve it. At times, the problem you really need to solve is not the same problem that appears on
the surface. Collaborating with other stakeholders helps refine your understanding of the
problem, focus your thinking, and prioritize what you hope to learn from the research.
Prioritizing your objectives is particularly helpful if you don’t have the time or resources to
investigate everything you want.

To flesh out your understanding of the problem, it’s useful to begin brainstorming actual research
questions you want to explore. What are the questions you need to answer in order to get to the
research outcomes? What is the missing information that marketing research will help you find?
The goal at this stage is to generate a set of preliminary, big-picture questions that will frame
your research inquiry. You will revisit these research questions later in the process, but when
you’re getting started, this exercise helps clarify the scope of the project, whom you need to talk
to, what information may already be available, and where to look for the information you don’t
yet have.

Applied Example: Marketing Research for Bookends

To illustrate the marketing research process, let’s return to Uncle Dan and his ailing bookstore,
Bookends. You need a lot of information if you’re going to help Dan turn things around, so
marketing research is a good idea. You begin by identifying the problem and then work to set
down your research objectives and initial research questions:

Identifying Problems, Objectives, and Questions

Core business problem

How to get more people to spend more money at Bookends
Dan needs to solve

1) Identify promising target audiences for Bookends; 2)

Research objectives Identify strategies for rapidly increasing revenue from these
target audiences

Initial research questions Who are Bookends’ current customers? How much do they
spend? Why do they come to Bookends? What do they wish
 Bookends offered? Who isn’t coming to Bookends, and
why?

Step 2: Develop a Research Plan

Once you have a problem definition, research objectives, and a preliminary set of research
questions, the next step is to develop a research plan. Essential to this plan is identifying
precisely what information you need to answer your questions and achieve your objectives. Do
you need to understand customer opinions about something? Are you looking for a clearer
picture of customer needs and related behaviors? Do you need sales, spending, or revenue data?
Do you need information about competitors’ products, or insight about what will make
prospective customers notice you? When do need the information, and what’s the time frame for
getting it? What budget and resources are available?

Once you have clarified what kind of information you need and the timing and budget for your
project, you can develop the research design. This details how you plan to collect and analyze the
information you’re after. Some types of information are readily available through secondary
research and secondary data sources. Secondary research analyzes information that has already
been collected for another purpose by a third party, such as a government agency, an industry
association, or another company. Other types of information need to from talking directly to
customers about your research questions. This is known as primary research, which collects
primary data captured expressly for your research inquiry. Marketing research projects may
include secondary research, primary research, or both.

Depending on your objectives and budget, sometimes a small-scale project will be enough to get
the insight and direction you need. At other times, in order to reach the level of certainty or detail
required, you may need larger-scale research involving participation from hundreds or even
thousands of individual consumers. The research plan lays out the information your project will
capture—both primary and secondary data—and describes what you will do with it to get the
answers you need. (Note: You’ll learn more about data collection methods and when to use them
later in this module.)

Your data collection plan goes hand in hand with your analysis plan. Different types of analysis
yield different types of results. The analysis plan should match the type of data you are
collecting, as well as the outcomes your project is seeking and the resources at your disposal.
Simpler research designs tend to require simpler analysis techniques. More complex research
designs can yield powerful results, such as understanding causality and trade-offs in customer
perceptions. However, these more sophisticated designs can require more time and money to
execute effectively, both in terms of data collection and analytical expertise.

The research plan also specifies who will conduct the research activities, including data
collection, analysis, interpretation, and reporting on results. At times a singlehanded marketing
manager or research specialist runs the entire research project. At other times, a company may
contract with a marketing research analyst or consulting firm to conduct the research. In this
situation, the marketing manager provides supervisory oversight to ensure the research delivers
on expectations.

Finally, the research plan indicates who will interpret the research findings and how the findings
will be reported. This part of the research plan should consider the internal audience(s) for the
research and what reporting format will be most helpful. Often, senior executives are primary
stakeholders, and they’re anxious for marketing research to inform and validate their choices.
When this is the case, getting their buy-in on the research plan is recommended to make sure that
they are comfortable with the approach and receptive to the potential findings.

Applied Example: A Bookends Research Plan

You talk over the results of your problem identification work with Dan. He thinks you’re on the
right track and wants to know what’s next. You explain that the next step is to put together a
detailed plan for getting answers to the research questions.

Dan is enthusiastic, but he’s also short on money. You realize that such a financial constraint will
limit what’s possible, but with Dan’s help you can do something worthwhile. Below is the
research plan you sketch out:

Identifying Data Types, Timing and Budget, Data Collection Methods, Analysis, and
Interpretation

1) Demographics and attitudes of current Bookends customers;

2) current customers’ spending patterns; 3) metro area
Types of data needed
demographics (to determine types of people who aren’t coming
to the store)

Timing & budget Complete project within 1 month; no out-of-pocket spending

1) Current customer survey using free online survey tool, 2)

Data collection store sales data mapped to customer survey results, 3) free U.S.
methods census data on metro-area demographics, 4) 8–10 intercept
(“man on the street”) interviews with non-customers
 Use Excel or Google Sheets to tabulate data; Marina
Analysis plan (statistician cousin) to assist in identifying data patterns that
could become market segments

You and Dan will work together to comb through the data and
Interpretation and see what insights it produces. You’ll use PowerPoint to create a
reporting report that lays out significant results, key findings, and
recommendations.

Step 3: Conduct the Research

Conducting research can be a fun and exciting part of the marketing research process. After
struggling with the gaps in your knowledge of market dynamics—which led you to embark on a
marketing research project in the first place—now things are about to change. Conducting
research begins to generate information that helps answer your urgent marketing questions.

Typically data collection begins by reviewing any existing research and data that provide some
information or insight about the problem. As a rule, this is secondary research. Prior research
projects, internal data analyses, industry reports, customer-satisfaction survey results, and other
information sources may be worthwhile to review. Even though these resources may not answer
your research questions fully, they may further illuminate the problem you are trying to solve.
Secondary research and data sources are nearly always cheaper than capturing new information
on your own. Your marketing research project should benefit from prior work wherever possible.

After getting everything you can from secondary research, it’s time to shift attention to primary
research, if this is part of your research plan. Primary research involves asking questions and
then listening to and/or observing the behavior of the target audience you are studying. In order
to generate reliable, accurate results, it is important to use proper scientific methods for primary
research data collection and analysis. This includes identifying the right individuals and number
of people to talk to, using carefully worded surveys or interview scripts, and capturing data
accurately.

Without proper techniques, you may inadvertently get bad data or discover bias in the responses
that distorts the results and points you in the wrong direction. The module on Marketing
Research Techniques discusses these issues in further detail, since the procedures for getting
reliable data vary by research method.

Applied Example: Getting the Data on Bookends

Dan is on board with the research plan, and he’s excited to dig into the project. You start with
secondary data, getting a dump of Dan’s sales data from the past two years, along with related
information: customer name, zip code, frequency of purchase, gender, date of purchase, and
discounts/promotions (if any).

You visit the U.S. Census Bureau Web site to download demographic data about your metro area.
The data show all zip codes in the area, along with population size, gender breakdown, age
ranges, income, and education levels.

The next part of the project is customer-survey data. You work with Dan to put together a short
survey about customer attitudes toward Bookends, how often and why they come, where else
they spend money on books and entertainment, and why they go other places besides Bookends.
Dan comes up with the great idea of offering a 5 percent discount coupon to anyone who
completes the survey. Although it eats into his profits, this scheme gets more people to complete
the survey and buy books, so it’s worth it.
For a couple of days, you and Dan take turns doing “man on the street” interviews (you interview
the guy in the red hat, for instance). You find people who say they’ve never been to Bookends
and ask them a few questions about why they haven’t visited the store, where else they buy
books and other entertainment, and what might get them interested in visiting Bookends
sometime. This is all a lot of work, but for a zero-budget project, it’s coming together pretty well.

Step 4: Analyze and Report Findings

Analyzing the data obtained in a market survey involves transforming the primary and/or
secondary data into useful information and insights that answer the research questions. This
information is condensed into a format to be used by managers—usually a presentation or
detailed report.

Analysis starts with formatting, cleaning, and editing the data to make sure that it’s suitable for
whatever analytical techniques are being used. Next, data are tabulated to show what’s
happening: What do customers actually think? What’s happening with purchasing or other
behaviors? How do revenue figures actually add up? Whatever the research questions, the
analysis takes source data and applies analytical techniques to provide a clearer picture of what’s
going on. This process may involve simple or sophisticated techniques, depending on the
research outcomes required. Common analytical techniques include regression analysis to
determine correlations between factors; conjoint analysis to determine trade-offs and priorities;
predictive modeling to anticipate patterns and causality; and analysis of unstructured data such as
Internet search terms or social media posts to provide context and meaning around what people
say and do.

Good analysis is important because the interpretation of research data—the “so what?”
factor—depends on it. The analysis combs through data to paint a picture of what’s going on.
The interpretation goes further to explain what the research data mean and make
recommendations about what managers need to know and do based on the research results. For
example, what is the short list of key findings and takeaways that managers should remember
from the research? What are the market segments you’ve identified, and which ones should you
target? What are the primary reasons your customers choose your competitor’s product over
yours, and what does this mean for future improvements to your product?

Individuals with a good working knowledge of the business should be involved in interpreting
the data because they are in the best position to identify significant insights and make
recommendations from the research findings. Marketing research reports incorporate both
analysis and interpretation of data to address the project objectives.

The final report for a marketing research project may be in written form or slide-presentation
format, depending on organizational culture and management preferences. Often a slide
presentation is the preferred format for initially sharing research results with internal
stakeholders. Particularly for large, complex projects, a written report may be a better format for
discussing detailed findings and nuances in the data, which managers can study and reference in
the future.

Applied Example: Analysis and Insights for Bookends

Getting the data was a bit of a hassle, but now you’ve got it, and you’re excited to see what it
reveals. Your statistician cousin, Marina, turns out to be a whiz with both the sales data and the
census data. She identified several demographic profiles in the metro area that looked a lot like
lifestyle segments. Then she mapped Bookends’ sales data into those segments to show who is
and isn’t visiting Bookends. After matching customer-survey data to the sales data, she broke
down the segments further based on their spending levels and reasons they visit Bookends.

Gradually a clearer picture of Bookends’ customers is beginning to emerge: who they are, why
they come, why they don’t come, and what role Bookends plays in their lives. Right away, a
couple of higher-priority segments—based on their spending levels, proximity, and loyalty to
Bookends—stand out. You and your uncle are definitely seeing some possibilities for making the
bookstore a more prominent part of their lives. You capture these insights as “recommendations
to be considered” while you evaluate the right marketing mix for each of the new segments
you’d like to focus on.

Step 5: Take Action

Once the report is complete, the presentation is delivered, and the recommendations are made,
the marketing research project is over, right? Wrong.

What comes next is arguably the most important step of all: taking action based on your research
results.

If your project has done a good job interpreting the findings and translating them into
recommendations for the marketing team and other areas of the business, this step may seem
relatively straightforward. When the research results validate a path the organization is already
on, the “take action” step can galvanize the team to move further and faster in that same
direction.

Things are not so simple when the research results indicate a new direction or a significant shift
is advisable. In these cases, it’s worthwhile to spend time helping managers understand the
research, explain why it is wise to shift course, and explain how the business will benefit from
the new path. As with any important business decision, managers must think deeply about the
new approach and carefully map strategies, tactics, and available resources to plan effectively.
By making the results available and accessible to managers and their execution teams, the
marketing research project can serve as an ongoing guide and touchstone to help the organization
plan, execute, and adjust course as it works toward desired goals and outcomes.

It is worth mentioning that many marketing research projects are never translated into
management action. Sometimes this is because the report is too technical and difficult to
understand. In other cases, the research conclusions fail to provide useful insights or solutions to
the problem, or the report writer fails to offer specific suggestions for translating the research
findings into management strategy. These pitfalls can be avoided by paying due attention to the
research objectives throughout the project and allocating sufficient time and resources to do a
good job interpreting research results for those who will need to act on them.

Applied Example: Bookends’ New Customer Campaign

Your research findings and recommendations identified three segments for Bookends to focus
on. Based on the demographics, lifestyle, and spending patterns found during your marketing
research, you’re able to name them: 1) Bored Empty-Nesters, 2) Busy Families, and 3) Hipster
Wannabes. Dan has a decent-sized clientele across all three groups, and they are pretty good
spenders when they come in. But until now he hasn’t done much to purposely attract any of
them.

With newly identified segments in focus, you and Dan begin brainstorming about a marketing
mix to target each group. What types of books and other products would appeal to each one?
What activities or events would bring them into the store? Are there promotions or particular
messages that would induce them to buy at Bookends instead of Amazon or another bookseller?
How will Dan reach and communicate with each group? And what can you do to bring more new
customers into the store within these target groups?

Mystery Marketing

Mystery marketing is a strategic approach used by businesses to create intrigue and curiosity
around their products or services, ultimately driving consumer engagement and increasing sales.
It involves deliberately withholding certain information from consumers, such as product details
or pricing, to generate interest and anticipation. The element of mystery adds an element of
excitement and novelty to the marketing campaign, encouraging consumers to actively
participate in the purchasing process to uncover the hidden information.
Examples of mystery marketing can be found across various industries, with companies
implementing different tactics to capture consumer attention and stimulate demand. Here are a
few examples based on the article:

​Groupon's Mystery Deals: Groupon offers "Mystery Deals" where customers purchase a coupon
without knowing exactly what they will receive. The reveal happens after the purchase, adding
an element of surprise and excitement. This tactic encourages consumers to engage with the
product or service, increasing the likelihood of a purchase.
​Banana Republic's Mystery Offers: Banana Republic occasionally offers "Mystery Offers" where
the value of a discount coupon is not revealed until checkout. This tactic entices shoppers with
the possibility of significant savings, creating a sense of curiosity and prompting them to
complete their purchase to uncover the discount.
​American Airlines' Mystery Breaks: American Airlines introduces "Mystery Breaks," where the
destination is not revealed until after the booking is made. This tactic appeals to adventure
seekers and spontaneous travelers who are drawn to the element of surprise and are willing to
take a chance on an unknown destination.

These examples demonstrate how mystery marketing can be effectively used by companies of all
sizes to engage consumers, drive sales, and differentiate themselves from competitors. By
leveraging the allure of mystery, businesses can create memorable and engaging experiences that
resonate with their target audience, ultimately leading to increased brand loyalty and
profitability.

Introduction to Big Data

Definition: Big data refers to the large volume of structured and unstructured data that inundates
businesses on a day-to-day basis. It encompasses data sets that are too complex and vast for
traditional data processing applications to handle effectively.

Characteristics:
 - Volume: Big data involves massive amounts of data, often ranging from terabytes to
petabytes.

- Velocity: Data is generated at a rapid pace, requiring real-time or near-real-time processing.

- Variety: Data comes in various formats, including text, images, videos, sensor data, social
media posts, and more.

- Veracity: Big data can be noisy and may contain inaccuracies or inconsistencies.

- Value: Extracting actionable insights from big data can lead to significant business value and
competitive advantage.

Importance:

- Helps businesses make data-driven decisions.

- Enables predictive analytics and forecasting.

- Facilitates personalized marketing and customer targeting.

- Enhances operational efficiency and resource optimization.

Challenges:

- Data storage and management.

- Data security and privacy.

- Data integration and interoperability.

- Data analysis and interpretation.

Content Marketing Communities:

Definition: Content marketing communities are online platforms or forums where marketers,
content creators, and industry professionals gather to share insights, collaborate, and discuss
trends related to content marketing.

Types of Communities

- Online forums: Platforms like Reddit, Quora, and Stack Exchange host discussions on various
content marketing topics.

- Social media groups: Facebook groups, LinkedIn groups, and Twitter chats are popular
channels for content marketing discussions and networking.

- Niche communities: Specialized platforms and communities cater to specific industries or

interests, providing targeted discussions and resources.

Benefits:

- Networking opportunities: Connect with industry peers, influencers, and potential

collaborators.

- Knowledge sharing: Learn best practices, strategies, and tips from experienced professionals.

- Feedback and support: Seek feedback on content ideas, campaigns, and strategies from the
community.

- Stay updated: Stay informed about the latest trends, tools, and technologies in content
marketing.
Examples:

- Content Marketing Institute (CMI) community

- Moz Community

- Inbound.org

Conversion Rate Optimization (CRO):

Definition: Conversion rate optimization (CRO) is the process of improving the percentage of
website visitors who complete a desired action, such as making a purchase, signing up for a
newsletter, or filling out a form.

Key Concepts:

- A/B testing: Comparing two or more versions of a webpage or marketing asset to determine
which one performs better in terms of conversions.

- Landing page optimization: Optimizing landing pages to maximize conversions by improving

relevance, clarity, and user experience.

- Call-to-action (CTA) optimization: Crafting compelling CTAs that prompt visitors to take the
desired action.

- User experience (UX) optimization: Enhancing website usability and navigation to reduce
friction and improve conversion rates.

- Multivariate testing: Testing multiple variables simultaneously to identify the most effective
combination for increasing conversions.

Process:
 1. Identify goals and key performance indicators (KPIs).

2. Analyze website data and user behavior to identify areas for improvement.

3. Develop hypotheses and testing plans based on insights gathered.

4. Implement tests using A/B testing tools or CRO platforms.

5. Monitor test results and analyze data to draw conclusions.

6. Iterate and optimize continuously based on test findings.

Tools and Technologies:

- A/B testing tools: Optimizely, Google Optimize, VWO (Visual Website Optimizer)

- Heatmap and session recording tools: Crazy Egg, Hotjar, Mouseflow

- Analytics platforms: Google Analytics, Adobe Analytics, Mixpanel

Benefits:

- Increased conversions and revenue.

- Better understanding of customer behavior and preferences.

- Improved user experience and satisfaction.

- Enhanced ROI on marketing campaigns and website investments.

Exploring IoT in Advertising: Revolutionizing Marketing Tactics

Introduction

The Internet of Things (IoT) is reshaping industries worldwide, and advertising is no exception.
In this blog post, we delve into the realm of IoT in advertising, uncovering its applications and
impact on modern marketing strategies.

Understanding IoT in Advertising

IoT in advertising leverages interconnected real-world objects equipped with sensors to gather
real-time data. This data includes valuable insights into customer behavior, preferences, and
buying patterns, essential for crafting personalized advertisements.

5 Use Cases of IoT in Advertising

1. In-store Advertising: Utilizing small transmitters known as beacons, in-store advertising

delivers personalized ads to smartphones based on real-time data. By detecting customer
interests, it enhances sales potential and revenue.

2. Interactive Advertising: IoT facilitates two-way communication between brands and

consumers through interactive ads. This encourages consumer engagement, driving positive
purchase decisions through actions like QR code scanning or real-time photo sharing.

3. Location-based Advertising: GPS technology combined with IoT enables precise targeting of
advertisements based on user location. For instance, supermarkets can push promotions to nearby
users, enhancing relevance and effectiveness.

4. Contextual Segmentation: IoT-enabled devices collect and process valuable data on customer
behavior, enabling advertisers to deliver targeted, contextual messages. This mirrors Google
Search Ads, which offer relevant offers based on user needs and location.
5. Intent-based Advertising: By analyzing consumer behavior and intent, IoT devices help
segment audiences and tailor advertisements accordingly. This approach focuses on influencing
consumers already inclined to make a purchase, optimizing advertising strategies for maximum
impact.

Impact on Marketing Tactics

IoT in advertising revolutionizes marketing tactics by:

- Enhancing personalization through real-time data insights.

- Facilitating two-way communication for increased consumer engagement.

- Enabling precise targeting based on location and consumer behavior.

- Optimizing advertising strategies for higher conversion rates and profits.

Mobile Marketing

Mobile marketing encompasses advertising activities targeting users through mobile devices like
smartphones and tablets. It utilizes various methods such as SMS text messaging, MMS
multimedia messaging, push notifications via apps, in-app marketing, mobile websites, and QR
codes. With the ubiquity of mobile devices, location-based services allow for personalized
marketing campaigns based on user proximity.

Unlike traditional marketing, mobile marketing leverages the portability of mobile devices to
collect customer data and offer targeted promotions based on location or frequent visits. This
personalized approach enhances campaign effectiveness and can include sending coupons or
deals to users near specific stores.

Advantages of mobile marketing include accessibility, affordability, and real-time access to

potential customers. It is easier to set up and monitor compared to traditional advertising
methods, and offers cost-effective options for businesses of all sizes. However, concerns
regarding data privacy and potential increased costs for users are drawbacks.

To start a mobile marketing business, steps involve setting up a mobile-friendly website,

establishing presence on location-based platforms, immersing oneself in mobile ad marketing
experiences, and launching mobile ad campaigns. Utilizing QR codes is also a simple yet
effective way to promote businesses.

Examples of successful mobile marketing campaigns include Samsung's interactive ads for the
Galaxy S6, Pond's acne product ad using facial recognition, Ruffles' mobile reality game
targeting teenagers, and Nissan's interactive ad for the Rogue SUV.

Mobile marketing tools and apps such as AppsFlyer, Insider, and Facebook Pages provide
companies with various channels to reach their target audience. Costs for mobile marketing
campaigns vary depending on the platform and duration of the ad, but overall, mobile marketing
offers an affordable and targeted approach to engage with customers in today's digital world.

What is paid search?

Paid search advertising is a type of digital marketing strategy that allows companies to pay
search engines to place their ads higher on relevant search engine results pages (SERPs) with the
goal of driving traffic to their site. Pay-per-click — or PPC advertising — is the most common
form of paid search. Using a PPC campaign means companies don’t pay anything until someone
clicks on their ad. This makes it an affordable way to advertise and ensures your ads reach users
who are actively searching for your company’s services or products. There are a few different
considerations that determine where your ad will be placed on Google SERPs. These include:

● Bidding. Businesses can bid on phrases or keywords that are related to their company,
products, or services. The highest bidders can get higher rankings on the search results page.
● Ad extensions. Companies can include phone numbers and web page links to pages such
as contact pages or other relevant information on their website. Your ad placement on SERPs can
be determined by the impact of these extensions.
● Quality of ads and landing pages. Google will assess and assign a Quality Score for
ads, and assess how useful and relevant your landing pages are.
● Keywords. The use of several keywords in your ads as well as the frequency of use, can
determine the ranking on SERPs.

Other considerations. Some other factors that are taken into consideration include the term that
is searched, as well as the time, location, competing ads/other search results, and device type.

Paid search advertising, commonly referred to as PPC (Pay-Per-Click), is a digital marketing

strategy employed by companies to enhance their online visibility and drive traffic to their
websites. This method involves paying search engines such as Google, Yahoo, or Bing to display
their ads prominently on relevant search engine results pages (SERPs). The primary objective of
paid search campaigns is to attract potential customers who are actively searching for products or
services offered by the company. This is typically achieved through bidding on specific
keywords or phrases that are relevant to the company's offerings.

Several key components play a crucial role in determining the success of a paid search campaign.
Firstly, bidding on relevant keywords is essential, as it allows companies to compete for ad
placement on SERPs. The highest bidders for particular keywords typically secure higher
rankings on the search results page. Additionally, leveraging ad extensions can enhance the
visibility and effectiveness of ads by providing additional information, such as contact details or
links to relevant pages on the company's website. The quality of ads and landing pages is also a
significant factor in determining ad placement. Search engines like Google assess the relevance
and usefulness of ads and landing pages, assigning them a Quality Score based on factors such as
expected clickthrough rate, ad relevance, and landing page experience.
Paid search campaigns offer various benefits for businesses seeking to expand their online
presence and reach their target audience. Firstly, they enable precise targeting of potential
customers based on keyword research, allowing companies to connect with individuals actively
seeking their products or services. Moreover, paid search advertising is cost-effective, as
advertisers only pay when users click on their ads. This contrasts with traditional advertising
methods, such as billboards, where companies pay regardless of whether their message reaches
their target audience. Additionally, paid search campaigns yield immediate results, with ads
appearing on SERPs shortly after launch. This immediacy allows businesses to quickly assess the
effectiveness of their campaigns and make necessary adjustments to optimize performance.

Setting up a successful PPC campaign involves several steps, starting with configuring location
settings to specify where ads should be displayed. Keyword selection is another crucial step,
requiring thorough research to identify the most relevant and high-performing keywords for the
company's offerings. Advertisers must also choose the appropriate match type for their
keywords, such as exact match, broad match, or phrase match, to control how precisely their ads
match user searches. Creating engaging ad copy with compelling calls-to-action is essential for
capturing the attention of potential customers and driving clicks. Additionally, setting
competitive bids for keywords, configuring ad extensions, and launching the campaign are
integral parts of the setup process.

Google Ads is one of the most popular platforms for paid search advertising, offering a range of
advertising options, including CPC (Cost-Per-Click) and CPM (Cost-Per-Mille) advertising,
across the Google Search Network and Display Network. Advertisers can set bidding preferences
and budgets to optimize their ad campaigns according to their specific goals and target audience.

To further enhance the effectiveness of paid search advertising, platforms like Sprinklr
Marketing offer AI-powered insights and optimizations. These tools enable advertisers to
automatically deliver personalized experiences across social channels and scale top advertising
campaign results. By leveraging AI technology, advertisers can refine their targeting, optimize ad
creatives, and maximize their return on investment (ROI) from paid search campaigns.
E-Commerce Marketing

E-commerce marketing encompasses a range of activities aimed at guiding online shoppers

through the conversion funnel. This involves strategies and tools to create awareness about
online stores, drive traffic to these stores, and ultimately convert visitors into paying customers.
E-commerce, or electronic commerce, refers to the process of buying or selling products or
services over the internet. This includes various forms of online transactions, such as online
shopping, online auctions, subscription-based businesses, sales of digital products, and more.

There are four primary e-commerce business models: Business to Consumer (B2C), Business to
Business (B2B), Consumer to Consumer (C2C), and Consumer to Business (C2B). Each model
facilitates trade between different parties in various ways, such as direct sales to end-users
(B2C), providing products or services to other businesses (B2B), transactions between individual
consumers (C2C), and consumers offering value to businesses (C2B).

An e-commerce platform is a software application that enables businesses to set up and manage
online stores. These platforms come with tools for marketing, selling products, managing
inventory, pricing, and running promotions. Some popular e-commerce platforms include
Shopify, WooCommerce, BigCommerce, Magento, Wix, and Squarespace, each offering
different functionalities and pricing plans to suit different business needs.

E-commerce marketing involves strategies to create awareness, drive traffic, and convert visitors
into customers. A documented e-commerce marketing plan is essential, which typically includes
defining goals and objectives, understanding the target audience and competition, determining
marketing strategies and tactics, building a marketing technology stack (martech stack), and
implementing the chosen marketing channels and tools.

Key e-commerce marketing strategies include Search Engine Optimization (SEO) to improve
organic search rankings, Content Marketing to engage and inform potential customers, Email
Marketing to nurture leads and drive conversions, Social Media Marketing to reach and engage
with audiences on various platforms, Paid Advertising to increase visibility and drive targeted
traffic, Influencer Marketing to leverage the influence of key individuals, Conversion Rate
Optimization (CRO) to improve website performance and customer experience, Customer
Service and Support to enhance customer satisfaction and loyalty, and Marketing Analytics to
measure and optimize marketing efforts based on data and insights.

Successful e-commerce marketing requires a combination of these strategies tailored to the

specific goals, target audience, and business objectives. Automation and the use of marketing
technology tools play a crucial role in streamlining marketing processes and driving business
growth in the competitive e-commerce landscape.

Sephora’s Case Study:

Sephora's shift from product-led to client-focused digital marketing strategies has contributed to
its sustained success. Embracing a client-focused mindset, Sephora utilized customer data to
create targeted online experiences. For instance, they developed a behavioral-based email
program and adopted a more targeted approach to communication, sending messages only to
relevant clients. Partnering with Bluecore further enhanced Sephora's agility and access to data,
enabling real-time optimizations and testing. With Bluecore, Sephora could simplify targeting
processes and iterate quickly on campaigns, leading to significant improvements in revenue and
client loyalty. The article provides insights into Sephora's digital marketing agility, emphasizing
the importance of data activation and accessibility in driving business impact.