Marketing Research That Won't Break the Bank: A Practical by Alan R. Andreasen
By Alan R. Andreasen
Advertising learn is key to a part of organizational effectiveness in latest hugely aggressive industry. yet many managers in small companies with restricted budgets reflect on it out of succeed in. In advertising study that may not cost a fortune, Alan Andreasen indicates readers tips on how to get the knowledge they should make clever, strategic judgements with no spending handsome profit. The instruments and methods provided may also help managers achieve an in-depth knowing in their target audience, opponents, and atmosphere with out stretching the organization's price range.
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Extra resources for Marketing Research That Won't Break the Bank: A Practical Guide to Getting the Information You Need
What partners are you using, and how satisfied are they with the relationship? How costly is the distribution system? Can the Internet be used to deliver options? 09Andreasen/Ch. 1 Research Activities of 435 Companies in 1988 and 1997. Percentage of Companies That Perform This Activity Research Activity Business/Economic and Corporate Research Industry/market characteristics and trends Acquisition/diversification Market share analysis Internal employee studies 1988 1997 83% 50 79 54 92% 50 85 72 60 59 45 57 55 56 74 69 67 78 75 71 Product Concept development and testing Brand-name testing Test markets Existing product tests Packaging studies Competitive product studies 63 38 45 47 31 58 78 55 55 63 48 54 Distribution Location studies Performance studies Coverage studies International studies 23 29 26 19 25 Promotion Motivation research Media research Copy research Advertising effectiveness 37 57 50 65 56 70 68 67 Pricing Cost analysis Profit analysis Price elasticity Demand analysis Market potential Sales potential Sales forecast 09Andreasen/Ch.
2 Ranking of Annual Research Projects. Managerial Relevance Doable Not Doable Highly important Category A: Fund this year. Category D: Seek outside suggestions on feasible methodology. Somewhat important Category B: Do not fund. Look for opportunities to fund small studies. Category E: Remain vigilant for new methodology that can make study feasible. Not important Category C: Acquire Category F: Ignore. only if free or very low cost. skills. Because they are potentially category A projects, that is, projects to which management would clearly commit funds if they could bring the study off, some amount of managerial effort should be expended to ascertain whether the assumption about the infeasibility of these project is indeed valid.
What new projects need to be added either because over the year management has become conscious of the need for them or because circumstances have changed? • Which of the projects to be repeated will take the same form, and which projects need to be updated to take account of new knowledge or new circumstances? An additional step should be added after the first year: a review of the process itself. Management, or perhaps an outsider, should look at the research decisions that were taken on the basis of the first-year plan and ask whether the planning process needs to be improved.