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MR Unit-5

Marketing

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0% found this document useful (0 votes)
9 views

MR Unit-5

Marketing

Uploaded by

chetanathigale
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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Unit 5: Marketing Research Applications - II:

1. Brand Concepts:
 Brand Identity:
 This encompasses the unique set of characteristics and
associations that distinguish a brand from its competitors. It
includes tangible elements like logos, colors, and slogans, as well
as intangible elements like brand values, mission, and voice.
 Example: Apple's brand identity revolves around innovation,
simplicity, and design excellence, which is reflected in its
minimalist product designs and marketing messages.
 Brand Image:
 Brand image refers to how consumers perceive a brand based on
their experiences, beliefs, and emotions associated with it. It can
be influenced by various factors such as advertising, word-of-
mouth, and product quality.
 Example: Nike's brand image is associated with athleticism,
empowerment, and high performance, which is reinforced through
its marketing campaigns featuring athletes and slogans like "Just
Do It."
 Brand Positioning:
 Brand positioning is the process of establishing a distinctive place
for a brand in the minds of consumers relative to its competitors.
It involves identifying and communicating the unique value
proposition that sets the brand apart.
 Example: Volvo positions itself as a brand synonymous with
safety, emphasizing features like airbags and collision avoidance
systems in its marketing to differentiate itself from other car
manufacturers.
 Brand Personality:
 Brand personality refers to the set of human-like traits attributed
to a brand. It helps consumers relate to and connect with the
brand on a personal level.
 Example: Coca-Cola is often associated with attributes like
happiness, nostalgia, and optimism, with its branding evoking
feelings of warmth and togetherness.
 Brand Promise:
 The brand promise is the commitment a brand makes to its
customers regarding the benefits and experiences they can expect
from its products or services. It sets expectations and builds trust
with consumers.
 Example: FedEx promises to deliver packages "Absolutely,
Positively Overnight," highlighting its commitment to fast and
reliable shipping services.
2. Brand Names:
 Brand Naming:
 Brand naming involves selecting a name that reflects the brand's
identity, values, and positioning while being memorable and
distinctive.
 Example: Google's name is a creative play on the mathematical
term "googol," representing the vast amount of information the
search engine can access.
 Brand Extensions:
 Brand extensions involve leveraging an established brand name to
introduce new products or enter new markets. It capitalizes on
the equity and recognition of the existing brand.
 Example: Nestlé extended its KitKat brand from chocolate bars to
ice cream, cookies, and other confectionery products.
 Trademarking:
 Trademarking involves legally protecting a brand name, logo, or
slogan to prevent others from using similar marks that could cause
confusion among consumers.
 Example: McDonald's has trademarked its name, golden arches
logo, and tagline "I'm lovin' it" to safeguard its brand identity and
prevent competitors from imitating its branding elements.
3. Brand Power Research:
 Market Share Analysis:
 Market share analysis involves evaluating a brand's sales
performance relative to its competitors within a specific market
or industry.
 Example: Coca-Cola and PepsiCo regularly analyze their market
share in the global soft drink industry to assess their competitive
positions and identify growth opportunities.
 Brand Valuation:
 Brand valuation is the process of estimating the financial worth of
a brand, taking into account factors such as brand awareness,
customer loyalty, and market position.
 Example: Interbrand's annual Best Global Brands report evaluates
and ranks the world's most valuable brands based on their
financial performance and brand strength.
 Brand Loyalty Studies:
 Brand loyalty studies aim to measure the level of consumer
attachment and repeat purchase behavior towards a brand. This
includes assessing factors such as customer retention rates,
frequency of purchases, and brand advocacy.
 Example: Amazon Prime's membership program fosters brand
loyalty by offering exclusive benefits such as free shipping,
streaming services, and discounts to its subscribers.
 Brand Perception Surveys:
 Brand perception surveys gather data on how consumers perceive
a brand relative to its competitors. This includes assessing brand
attributes, reputation, and emotional appeal.
 Example: Samsung conducts regular brand perception surveys to
understand how consumers perceive its products compared to
rival brands like Apple and Huawei.
4. Brand Equity Survey Measurements:
 Brand Awareness:
 Brand awareness measures the extent to which consumers
recognize and recall a brand. It includes both brand recall
(unaided awareness) and brand recognition (aided awareness).
 Example: McDonald's is known for its high brand awareness, with
its golden arches logo being instantly recognizable worldwide.
 Brand Associations:
 Brand associations are the attributes, values, and characteristics
linked to a brand in consumers' minds. These associations can be
positive, negative, or neutral and significantly influence brand
perception and purchase behavior.
 Example: Disney is associated with values like magic, imagination,
and family entertainment, which are reinforced through its theme
parks, movies, and merchandise.
 Brand Loyalty:
 Brand loyalty measures the degree to which customers
consistently choose one brand over others in a product category.
It encompasses both behavioral loyalty (repeat purchases) and
attitudinal loyalty (positive attitudes and preferences towards the
brand).
 Example: Apple enjoys strong brand loyalty, with many iPhone
users sticking to the brand and upgrading to newer models due to
their satisfaction with Apple's products and ecosystem.
 Brand Trust:
 Brand trust reflects the confidence consumers have in a brand's
reliability, integrity, and ability to deliver on its promises. It is
built through consistent product quality, transparent
communication, and ethical business practices.
 Example: Patagonia has earned a reputation for trustworthiness
by prioritizing environmental sustainability, fair labor practices,
and transparency in its supply chain.
 Brand Satisfaction:
 Brand satisfaction measures the degree to which customers are
pleased with a brand's products or services. It reflects the gap
between customer expectations and actual experiences.
 Example: Airbnb tracks customer satisfaction through post-stay
surveys and reviews, allowing hosts and guests to provide
feedback and ratings on their experiences.
5. Brand Tracking Studies:
 Continuous Measurement:
 Continuous brand tracking involves regularly monitoring key brand
metrics over time to track changes in brand perception, market
share, and consumer behavior. It provides insights into the
effectiveness of marketing strategies and helps identify emerging
trends.
 Example: Coca-Cola conducts ongoing brand tracking studies to
monitor shifts in consumer preferences, competitive activity, and
market dynamics to inform its marketing and product
development efforts.
 Competitive Benchmarking:
 Competitive benchmarking compares a brand's performance with
that of its competitors across various metrics such as brand
awareness, perception, loyalty, and market share. It helps
identify areas of strength and weakness relative to rivals.
 Example: Samsung benchmarks its brand performance against
competitors like Apple and Huawei to identify opportunities for
improvement and maintain its competitive edge in the global
smartphone market.
 Touchpoint Analysis:
 Touchpoint analysis examines the various points of interaction
between consumers and the brand throughout the customer
journey. It includes offline and online touchpoints such as
advertising, customer service, retail environments, and digital
platforms.
 Example: Starbucks conducts touchpoint analysis to optimize

 Advertising Research:

1. Concept Testing Research:


 Definition: Concept testing research is a method used to evaluate
advertising ideas and concepts before they are fully developed or
launched.
 Purpose: To assess the potential effectiveness and appeal of different
advertising concepts, themes, and appeals among the target audience.
 Process: Involves presenting various ad concepts or themes to
respondents and collecting feedback through surveys, focus groups, or
interviews.
 Outcome: Helps advertisers identify the most compelling and resonant
concepts that are likely to resonate with the target audience.
2. Ad Recall Surveys:
 Definition: Ad recall surveys measure the ability of individuals to
remember or recall specific advertisements after exposure to them.
 Methodology: Typically conducted through surveys or interviews where
participants are asked if they remember seeing or hearing a particular
ad.
 Importance: Ad recall is an important indicator of advertising
effectiveness as it reflects the extent to which the ad message has been
retained by the audience.
 Factors Affecting Recall: Factors such as ad placement, frequency,
message clarity, and relevance influence ad recall rates.
3. Message and Theme Salience:
 Message Salience: Refers to the degree to which the key message or
idea conveyed in an advertisement stands out and is remembered by the
audience.
 Theme Salience: Indicates how prominently the central theme or
concept of an advertisement is perceived and retained by viewers.
 Importance: High message and theme salience contribute to better ad
effectiveness by ensuring that the core message and brand identity are
memorable and impactful.
4. Impact Measures:
 Definition: Impact measures assess the effectiveness and impact of
advertising campaigns in achieving specific objectives.
 Metrics:
 Brand Awareness: Measures the extent to which consumers
recognize and recall the advertised brand.
 Brand Attitude: Evaluates changes in consumer perceptions,
attitudes, and associations towards the brand after exposure to
advertising.
 Purchase Intent: Indicates the likelihood of consumers to purchase
the advertised product or service.
 Sales Uplift: Quantifies the increase in sales attributed to the
advertising campaign.
5. Buying Motivation and Association Measures:
 Buying Motivation: Investigates the underlying factors and motivations
that drive consumer purchasing decisions.
 Association Measures: Assess the strength and relevance of associations
created between the advertised product or brand and desirable
attributes or values.
 Examples: Associations could include quality, reliability, status, or
emotional appeal, which influence consumer preferences and purchasing
behavior.
6. Media Research:
 Readership Surveys: Gather data on readership habits, preferences, and
engagement with print publications such as newspapers and magazines.
 Media Audience Tracking Studies: Monitor media consumption patterns,
audience demographics, and preferences across various media channels.
 TRP (Target Rating Point): TRP is a metric used to measure the size of
an audience reached by a specific advertisement or campaign, expressed
as a percentage of the total target audience.
 Purpose: Helps advertisers make informed decisions about media
planning, buying, and optimization to maximize reach and engagement.
7. Limitations of Advertising Research:
 Sampling Bias: Research samples may not accurately represent the
broader target audience, leading to biased results.
 Response Bias: Participants may provide inaccurate or socially desirable
responses, affecting the reliability of the findings.
 Generalizability: Findings from advertising research may not always be
applicable across different demographic groups, markets, or contexts.
 Measurement Challenges: Some aspects of advertising effectiveness,
such as changes in brand perception or long-term sales impact, are
challenging to measure accurately.

 International Marketing Research:

1. Marketing Research in an International Context:


 Importance: International marketing research is crucial for businesses
operating in global markets to understand diverse consumer preferences,
cultural nuances, and market dynamics.
 Complexities and Issues:
 Cultural Differences: Varying cultural norms, values, and
behaviors across countries can impact consumer responses and
market strategies.
 Language Barriers: Language differences pose challenges in survey
administration, data interpretation, and communication with
respondents.
 Legal and Regulatory Compliance: Compliance with diverse
regulations, laws, and ethical standards across countries adds
complexity to research design and data collection.
 Market Diversity: Differences in market structures, competition,
economic conditions, and consumer preferences require tailored
research approaches for each market.
2. International Secondary Data Sources:
 Definition: Secondary data refers to existing information collected by
other sources for purposes other than the researcher's specific study.
 Sources:
 Government Agencies: Statistical offices, trade associations, and
regulatory bodies provide demographic, economic, and industry-
specific data.
 International Organizations: Organizations like the World Bank,
IMF, and WTO offer global economic indicators and trade
statistics.
 Market Research Firms: Syndicated research reports and
databases provide market intelligence on various industries and
regions.
 Academic Journals and Publications: Scholarly articles and
research papers offer insights into international marketing trends
and consumer behavior.
3. Primary Data Collection Methods in International Marketing Research:
 Surveys and Questionnaires: Administered online, via mail, telephone,
or face-to-face interviews to gather insights on consumer preferences,
attitudes, and behaviors.
 Focus Groups: Conducted to explore cultural nuances, perceptions, and
reactions to marketing strategies.
 Observational Research: Involves direct observation of consumer
behavior in real-life settings to understand purchase decisions and
product usage patterns.
 Experimental Research: Controlled experiments conducted to test
hypotheses and assess the impact of marketing interventions across
different markets.
4. Complexities of Data Collection in International Marketing Research:
 Cultural Sensitivity: Adapting research instruments and methodologies
to respect cultural norms, beliefs, and sensitivities.
 Language Translation: Ensuring accurate translation of survey
instruments, instructions, and stimuli to maintain consistency and
minimize misinterpretation.
 Sampling Challenges: Obtaining representative samples across diverse
populations while considering geographic, demographic, and socio-
economic variations.
 Logistical Issues: Managing logistics for data collection in remote or
inaccessible regions, including transportation, technology infrastructure,
and local partnerships.
5. Online Data Sources and Research:
 Web Scraping: Extracting data from websites, social media platforms,
and online forums to gather market intelligence and consumer insights.
 Social Media Monitoring: Analyzing online conversations, reviews, and
sentiment to understand consumer preferences, trends, and brand
perceptions.
 Online Surveys: Conducting surveys and polls through web-based
platforms to reach global audiences and collect real-time feedback.
6. Issues in Multi-Country Data Analysis:
 Data Comparability and Validity Problems: Differences in data
collection methods, cultural contexts, and response biases may affect
the comparability and validity of findings across countries.
 Major Sources of Errors: Sampling errors, measurement errors, response
biases, and cultural biases can distort research outcomes and undermine
data quality.
 Mitigation Strategies: Standardizing research protocols, using culturally
adapted measurement scales, and employing statistical techniques like
multi-level modeling can help address data comparability and validity
issues.
7. Report Preparation and Presentation in Detail:
 Comprehensive Analysis: Provide a detailed analysis of research
findings, including key insights, trends, and implications for marketing
strategy.
 Visual Representation: Use charts, graphs, and visual aids to illustrate
data patterns and enhance understanding.
 Recommendations: Offer actionable recommendations based on
research insights to guide marketing decision-making.
 Executive Summary: Summarize key findings, conclusions, and
recommendations in a concise and accessible format for busy executives.
 Cultural Considerations: Adapt communication style, tone, and content
to resonate with diverse stakeholders across different cultural
backgrounds.
 Interactive Presentations: Engage stakeholders through interactive
presentations, workshops, and Q&A sessions to facilitate discussion and
consensus-building.

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