This article at Bloomberg, “ The Inventor of Customer Satisfaction Surveys Is Sick of Them, Too, ” describes challenges to measuring customer satisfaction using surveys. This article raises questions about “Interpreting the Data” – which is step 4 in our Five-Step Scientific Approach to the Marketing Research Process. Look through that section of chapter 7. Which of the bold key terms in that section relate to the problems discussed in this article? For a business that really wants to assess customer satisfaction, what could be done to minimize the issues raised in the article?
One example of the experimental method discussed in chapter 7 is an A/B test. You can read about a real-life example of this in “ Google Tested 3 Versions of This Honey Maid Ad to See Which Worked Best Online ” (Adweek, April 13, 2016). Google compared :15, :30, and 2:17 versions of an ad for Honey Maid. After reading the article, figure out how the ad follows each stage of the book’s “five-step scientific approach to the marketing research process” (see Exhibit 7-3). Provide answers to these questions: 1) What is the problem? 2) What are some examples of a situation analysis that Google might conduct (go beyond the article)? 3) How do they [Continue Reading …]
Powerful computers now allow software to read people’s emotions. Some of this new software and various applications are described in this article and the video below “ The Technology that Unmasks Your Hidden Emotions ” (Wall Street Journal, January 28, 2015, non-subscribers may need to click here ). How could a marketing manager for a retailer like Best Buy or a specialty store like say Victoria’s Secret. A bigger question might be whether retailers should use this type of information. Does it invade people’s privacy? How? Why?
Nowadays who doesn’t google? OK, maybe you Bing or Yahoo! something, but online search is a go-to source for all kinds of information — including market research. Market researchers often search the web for information about competitors, customers, and general market trends. But as more data appears on the web, being skilled at search is helpful in almost any job. Here at Learn the 4 Ps, we have posted on this topic before, but I found some new tips in “ 10 research tips for finding answers online ” (TED Blog, October 2, 2014) you might find helpful.
As you may know, big data and predictive modeling are getting pretty darn good at predicting the brands or products an individual might want to buy. It is not hard to imagine a day (perhaps not not too far into the future) where retailers are so good at predicting that they know what we want or need before we do. Target stores already knows what brand of shampoo a customer buys — and that they buy it once a month. So what if they just placed an order for us and shipped it out? Would people be interested in this service? [Continue Reading …]
“How many Google searches do you do in a week?” I tried to Google that phrase without any luck. But I would guess that most of you use Google pretty regularly for all kinds of searches. It is a great way to gather market information that may be useful in marketing strategy and planning. But I would also guess that most of you use Google in its simplest form — type a key word or two into the search box. How about investing a minute of your time to learn some tips that will make your searching faster and more fruitful? [Continue Reading …]
Italian mannequin maker Almax has developed mannequins that can see and hear what customers are doing. The new mannequins could allow retailers to monitor shopper behavior and potentially even listen to what customers are saying about what a mannequin is wearing. At $5000, the mannequins are not cheap. They provide a potentially new source of marketing research while also raising ethical and privacy concerns. You can read more in this Bloomberg Businessweek article “ In Some Store, the Mannequins Are Watching You ” (December 6, 2012). What do you think of this marketing research approach? What could retailers learn? Are there any ethical or privacy issues? Why or why [Continue Reading …]
Your marketing instructors probably preach the value of relying on solid marketing research and analysis when making marketing strategy decisions. That said, many students (and managers) fall into the bad habit of relying on personal opinion. I guess that Ad Age wouldn’t be posting this article, “ The ‘I think’ Syndrome Destroys Many a Campaign ” (October 31, 2012) if we all couldn’t use a reminder. What other tricks could marketing students (and managers) use to make sure they don’t fall back on personal opinion? Under what conditions might “I think” be an acceptable argument?