Market Research Methods

Market research refers to studying and analyzing the market scenario in connection with a product or service. It involves gathering and recording information regarding specific products and services. It is imperative for any business to keep it in tune with the competition. Such inquiries gives the managers an insight into target selection, potential customers, and identifying and planning for fulfilling customer needs.

Method 1
Survey is the most common research tool and if done properly, almost accurate marketing conclusions can be made. A questionnaire which is concise and to the point and covers the aspects which require to be analyzed will do the trick. Then analysis of a sample group representing your target market is all you need to do. To get better results, a larger sample is preferable. In surveys too there are types – you have one-on-one surveys. These are done typically where you can find a lot of people at one place, like a mall. In such a survey, you get an instant feedback.

Another type of survey is a telephone survey. Although costlier than the mail, it is cheaper than the one-on-one survey. But the glitch here is that these days with constant telemarketing, people are becoming increasingly averse to such calls. On the other hand, if you want to get responses from a large number of people, mail or online survey is an effective way. However, they generate the minimum amount of response. These are quantitative market research methods.

Method 2
With detailed personal interviews, one has credible conclusions than surveys. These interviews have open-ended questions and are normally recorded. Even if these might not be statistically reliable perhaps, they are excellent to gain interesting and valuable insights in customer attitudes. You can conclude many things about new products or services. These

Telemarketing Strategies

Telemarketing is a technique, where a salesperson tries to sell and promote his products or services to potential customers over the telephone. It is one of the most powerful tools to expand a business. But due to its misuse, it has become quite unpopular in the recent times.

Nobody likes to be disturbed by telephone calls from a salesperson, especially when they are engaged in some important personal or professional work. In this regard, the United States has come up with the ‘National Do Not Call Registry’. It is maintained by the Federal Trade Commission, and it contains the phone numbers of those people who do not like to be called by telemarketers.

But when used properly, this marketing strategy can be a boon for any business. There are a few strategies that can help you improve your telemarketing skills. By following these, you can use the telephone as a potent tool to reach out to the millions of customers.

Planning and Preparation
Planning and preparation is the key to achieve success in telemarketing. You need to determine your objectives, and plan accordingly. Prepare yourself for some frequently asked questions. The best way is to make a draft of the details to be communicated to the prospective customer, in order to achieve the desired objectives.

Effective Communication
For effective communication, it is important to use appropriate words. Certain words like, ‘you’, or the name of your client can be very effective in grabbing his or her attention. The use of genteel and polite language can also play an important role in making a strong impact. A telemarketer should refrain from using impolite language even if the client reacts harshly.

You can come up with some attractive and unique features of the product you intend to sell, and communicate these

Funny Things to Say to Telemarketers

Have you often had this annoying experience of receiving unwanted calls when you are either enjoying yourself somewhere or really busy with some work? I have always been disturbed with exasperating calls just when I am about to have lunch or out watching a movie. The only reason I may have attended them is because I was expecting an urgent call! Well, it goes without saying that my exasperation knows no bounds after being tormented by such callers. One such day, when I yelled at a telemarketer, a friend of mine advised me not to lose my cool and tackle things in a different way. It was about irritating others rather than getting hot and bothered. Well, he explained to me various funny things to say to telemarketers, especially the very persistent ones! I must say, we brainstormed and did come up with various options. I have compiled many things one can say to these telemarketers, which would invite loads of laughs.

Funny Ideas

– When a persistent telemarketer calls you up, the one thing you can do to irritate him/her is talk gibberish and at a full speed. This would surely take the caller by surprise; before you know it, the call would be disconnected!
When the marketer starts talking about various offers, you can irritate him/her by ordering a large pizza with extra toppings. Ask for some ice soda as well, and keep on blabbing about it till he/she cuts the line in frustration.
– Interrupt the conversation and ask the caller whether he/she would like to buy some goods instead. Talk about an exotic clothing line you have or the latest in home decor. Sell your ‘products’ to the telemarketer, and chances are that the person will just hang up.
– This is another funny idea to bug telemarketers

Advantages of Mobile Marketing

Mobile marketing is becoming very popular among several companies and sellers for various reasons. When we start to understand its various advantages over other channels and mediums, we will see why it is a much preferred method of merchandising for many companies. Not only is this medium less expensive and far reaching, but it is also extremely interactive. This gives the marketer a chance to devise the potential customer’s profile more accurately.

The reach of mobile phones in today’s world and especially in the United States of America, has risen by leaps and bounds. It is said that about 94% of the US population owns cell phones, and this amounts to around 300 million people. It is a huge number, which gives the marketers a channel to reach a large number of people at a very low cost.

Companies spend millions of dollars on marketing campaigns in varied forms and there is no guarantee that such ways even work. With the help of this type of marketing, organizations can reach people directly and be more personal in nature. Moreover, by this method, the company is ensuring that people do not miss their marketing strategies. Even if the success ratio is low in such a situation, this is still a cheaper and far reaching method of merchandising.


Better Data Management and Databases
When a seller practices mass marketing techniques, he has no personal information of the individuals which he targets. This problem is solved in case of this type of marketing, as each individual has his own private contact number, and the marketer can obtain it from the right channels. This helps to personalize the commercializing efforts, and it also improves the seller’s database, while simultaneously aiding in Customer Relationship Management (CRM) as well.

Better Resource Management
The process involving sending an SMS or calling

Telemarketing Manager Job Description

Almost all of us have received calls from telemarketers. Whether it is to sell a product or take our opinion on a particular product, telemarketers call a number of people everyday, on various accounts. Heading a team of telemarketers, persuading them to give their best shot and make a sale or achieve their pre-decided goal, is the job of a telemarketing manager. When he is out there supervising a team of telemarketers, he performs a number of duties. Given below are the duties and responsibilities of a telemarketing manager.

Job Description of a Telemarketing Manager

A telemarketing manager’s main job, as mentioned above, is to lead a team of telemarketers. He is the one who explains the team as well as individual goals to each and every person that works under him. Training his staff on phone etiquette and how to handle phone calls, is an important part of his job. Motivating the telemarketers, by taking daily meetings, planning some fun games, showing appreciation and deciding on an incentive structure for them, is something that a telemarketing manager does to keep his team’s spirits high. In some organizations, a telemarketing manager may be involved in evaluating the performance of his under staff. He might play a big role in deciding on the employee incentives, promotions, transfers, etc.

A telemarketing manager stays in direct touch with the sales department to ensure that his team’s goals match with the overall sales goals. Deciding on the work flow, compensation structure for the employees, maintaining a database of potential customers as well as of the regular customers, all these things are undertaken by a telemarketing manager. In most of the organizations, telemarketers follow a certain script while talking to the potential customers. Sometimes, a telemarketing manager helps in designing this script.


Types of Mobile Marketing

Mobile phones have become an indispensable part of our lives. Today, we all depend on mobile phones to such an extent that it forms the crux around which a lot of our daily activities revolve. The penetration of mobile phones in both developed and developing countries has led to the emergence of a new form of marketing, commonly known as the mobile marketing. Mobile phones have been used to market products since 1990s, when corporations used to get telephone numbers in bulk, and then a short message was sent to promote a product or a service. But those days, most mobile phones were basic models, which received only text messages, often failing to communicate the highlight of a particular product. However, today most of the phones are capable of receiving high quality multimedia messages (MMS), and more and more people are using Internet on their mobiles, leading to a surge in mobile marketing. There are a host of advantages of mobile marketing, and a company which is good with its mobile marketing can help itself to gain new customers.

Mobile Marketing Types

Mobile marketing has proven to be effective as now, the consumer has an increased control over the kind of advertisements that are sent to him. There was a time when most messages sent to consumers were not very useful, posing a serious threat to mobile marketing. Corrective actions, both by corporations and network providers have helped to weed out unscrupulous elements, making mobile marketing an ethical way of promotion and publicity. Some types of mobile marketing are:

Short Message Service (SMS)
Short message service initiated the concept of mobile marketing and still is used to promote a variety of products and services. Although, it has been put to a lot of abuse, regulations in the past few years have meant a

How to Start a Mobile Marketing Business

Innovations in technology have always been the precursor to creative marketing strategies. With the growth of mobile phones, the world also witnessed the rise of mobile marketing. Now companies have realized that there are many advantages to mobile marketing, hence it has become one of the most profitable businesses, and let me tell you, this is probably the perfect time for you to foray into this industry.

Research Thoroughly
Every day, several entrepreneurs venture into the mobile marketing industry, and only those who offer innovative marketing techniques last in the industry. Your main objective is to offer something different to your client. For this, you will have to know what are the existing marketing methods. The only way to learn about the marketing techniques prevalent in the market is to research! Apart from the marketing methods, your research should tell you about:

– Your competitors
– Scope of the business
– Legal and financial aspects of the business

Make a Business Plan
Use your research and make an effective business plan. When you make a business plan you should include the following points in it:

– Objectives of your business
– Cash estimate
– Competition analysis
– Target market
– Marketing strategy
– Projected flow of cash

You should always remember, a business plan is essential for your business. It will keep you on track, and will help you achieve your objectives. One more thing, you should modify your business plan with respect to the changes in the market.

Finalize Your Services
It is very important to finalize the services that you are going to offer, before you think of contacting prospective clients. You may offer:

– Development of mobile website
– Mobile marketing strategies
– Text messaging
– Mobile advertising

In addition to the above, you can also come up with

Social Marketing Theory

Human behavior gives rise to a social environment. The nature of this environment has two parts. Just like yin-yang, there is a good and there is a bad social culture. The aim of this article is to focus on the reasons / causes of the bad or harmful social behavior, and eradicate it to spread good will, good attitude, and a better social nature among the people.

Social marketing means to analyze, design and implement the ideas that will affect the social mass, individually and socially as well. This medium is the change that influences the economic, social, physical and emotional circle in an individual or in a group. It follows and addresses these issues by theories and principles used in commercial marketing.

Social Marketing

It is deeply influenced by the marketing philosophy, that people will make efforts to change their behavior, thinking and attitude, if they perceive the give and take between the social marketer and them of good value to their investments. The concept is just like other commercial marketing or profitable marketing that convinces people to buy the product.

It focuses on the concepts like research, the structure of ideas, market segmentation, communication, execution and provision of their services. Unlike commercial marketing that profits the marketer or producer, social marketing profits the consumer / audience. The primary goals include welfare, safety, security, environment and awareness. It strongly determines to bring out behavioral changes and practices for good.

Social Marketing Principles

This theory relies on basic principles, we can term them as the four Ps – Product, Price, Promotion and Place. Let us understand a little more about these techniques and their nature of work.

Product: Products in social marketing plan can be described in two parts- 1. Tangible products like some ‘thing’, for example, oral contraceptives, vaccines,

Social Media Marketing Tips

Success stories stand tall as long as they get the space and recognition to grow and flourish. In any business, right from introducing the product, to drawing profitable sales, there is one word that makes all possible. Marketing has not only justified its definition but has also elevated the strategies for advertising and creating an image in the market. With a marketing tool in view, the most effective strategy that has gained a lot of importance with achieving its primary role is social media marketing. Now who is not aware of the social media, or I must say who does live in a social era that is ruled by social media, it has almost conquered the globe today.

Marketing with the help of social media is defined as product selling with the help of different forms of social media is called social marketing. It can also be called a type of Internet marketing that is designed to gain brand image and successful goals of marketing communication with the help of social media. Simply put, it is to advertise and create market space and image with the help of social networking sites and other spaces on the Internet. Blogs, news, Twitter, and even Facebook and MySpace are well-known and established social media attributes, that are the major targets of social media marketing. This platform gives a more connected feeling and a human touch in the race of high-end profits.

Tips for Social Media Merchandizing

It is important to analyze the perfect gap in the market space, to be the most visible, and that is what marketing with the help of social media does. Even if you have the best of cards, you should be able to play a smart game, and a smart game will need tactics and strategies that will help you draw

Mistakes Entrepreneurs Should Avoid on Social Media

Every entrepreneur understands the importance of an online presence, owing to the rapid growth of the number of people who spend time online, and rely on the information found there for their needs and requirements. What every entrepreneur doesn’t understand is the importance of using this critical tool in the right manner. Simply posting updates is not only what social media marketing centers on. Such a process requires time, patience and skill that eventually results in a fool-proof social media marketing strategy. Until then, the right kind and amount of attention on the process is essential. Here’s a look into the mistakes you should avoid on social media as an entrepreneur, at the start-up level, as well as when you ease into your business.

Common Social Media Mistakes Your Start-up Should Avoid

You know you are supposed to be out there, but how should you go about making that mark, a presence that people remember you for and by? Facebook, Twitter, your own blogs, and other social bookmarking websites are integral tools you need to make your presence felt in the worldwide web. What you must understand is that most people are resistant to marketing, particularly when their feeds are being spammed by a lot of organizations trying to grab their attention. So you have to establish a certain amount of credibility to ensure that your efforts at social media marketing are duly rewarded. Before you hit enter on your first online post, here’s what you should be avoiding, particularly at the start.

1. Starting Off Without a Plan/Goal
If you don’t know what you’re going to be doing online, there is no point of starting off your social media strategy. While most businesses will benefit from social media marketing, there are others that may just not benefit from it. Before you begin,

Social Media Marketing and The Advertising Dollar Not Spent

Social media has done wonders for small business advertising. Print ads, radio ads, and television ads are effective, but the cost can blow a huge hole in your budget with no guarantee of success. Spend your entire advertising budget on a traditional media campaign, and a poorly-designed ad or a bland slogan can wash your money right down the drain.

Social media, on the other hand, is free. And it’s everywhere. To be clear, we’re talking about things like Facebook, Twitter, LinkedIn, etc., plus industry-specific sites – any friend-finding, spread-the-word-type site that allows you to create a profile and promote your brand. These virtual coffee shops can be a godsend to the small business owner, and it only takes a single post to become the latest buzz. Of course, random posts generally don’t find much of an audience. To maximize your showcase, it’s important to have a plan.

Be Everywhere

Don’t limit yourself to a single platform. Create a company profile on all available sites, and tie everything together. For example, announce on Facebook that you’ll be attending a conference at such-and-such, then live-Tweet your enthusiasm throughout the event. If someone is following your company on Twitter, chances are they’ll be interested in what you learn and will re-tweet to others. Then you become the company with the cool insider knowledge about the up-and-coming things in the doodad industry.

Make it Easy

Your company should already have a website, and your website should have a blog. Each page of your site and blog should also have the various “Like” buttons for Facebook, StumbleUpon, Reddit, Twitter, etc. It’s so easy for someone to see something interesting and click a button – suddenly, your page just found a few hundred new viewers. If those buttons aren’t there, the only way to

Promotion via Pinterest

Pinterest is huge. Like, almost Facebook-huge. If you realize the value of social media marketing (hint: it’s huge), Pinterest should definitely be on your list. After all, your clients are on there, and the “social” part of Pinterest’s particular social media method means that once you create quality stuff, it basically gets spread around for you. Here’s what you do:

Snoop Around

Look at your target demographic, your ideal client, and look at what they’re pinning. This is obviously who you want to cater to, so you need to know what they think is worth sharing. Because it’s not enough to reach these people, you have to give them something that they’ll want to share with their friends. Don’t ignore stuff that doesn’t pertain to your industry (more on that later), just take it all in and form an overall picture. You’ll see patterns, and you’ll notice clear trends. Take notes.

Set Up Your Account

The appeal of Pinterest is the “personal” quality to it. You’re sharing with friends. To that end, make it clear that there’s a person, not a company, behind your account. Use your actual headshot instead of the company logo, and use your actual name. People get suspicious when a company tries to tell them what to like, but they respond very favorably when a trustworthy-looking person suggests new things. Fill out your profile, and use catchy, descriptive board titles.

Put links to your website and other social media pages in your profile. Once you have a decent amount of pins, people who like them will want to know more about you, so they’ll read your profile. They’ll see the links to your Facebook page and Twitter feed, and think, “Hm. I like this guy’s stuff. We share the same taste. I shall Follow and Like.” Then you spread from there,

Why Social Media is Important for Marketing

Why social media is important for marketing
There was a time when you mentioned that the business or website needed a more concrete social media marketing strategy, you were simply laughed at. After all, isn’t Facebook all about connecting with long-lost buddies and Twitter all about private rants? Seems not. While social media may have been a fluky zone for marketers previously, it has gained prominence in recent years as one of the best ways to create brand awareness and visibility of the product. Moving beyond idle chats and meaningless tweets, social media marketing has changed the entire marketing scenario.

Due to the huge role that it plays in facilitating interaction between people, social media has become a potent marketing tool that lets you communicate with existing and potential users. This is the reason many businesses are shifting their marketing budgets away from traditional marketing alternatives to social media and search engine marketing. This Buzzle article explains why it is important for a marketer to tap into the power of social networking.

Top 7 Reasons Why Social Media is Important for Marketing

1. Fastest Way to Spread the Word and Increase Exposure
If you are marketing a new product and opt for traditional marketing channels, such as television advertising, what do you think would be the recall rate of your advertisement? Not very significant, considering we are flooded with television and newspaper advertisements every day. As compared to this, the marketing on social media channels, such as online advertisements, social media websites, and blogs can help in getting the message across, more efficiently. A study conducted by Google and Ipsos OTX MediaCT to study the effects of online video advertisements as compared to traditional TV advertisements. It was found that online video ads fared much better than traditional

Market Segmentation Theory

There are many theories associated with the yield curve and one such theory is market segmentation theory. It brings together potential buyers into segments with common needs, that will respond to a marketing action. This means that, certain investors are interested in particular types of investments like short-term debt securities. However, few investors are interested in only long-term bonds. Thus, it discusses each separate maturity as independent from others.

What is it?

It shows that there is no direct relationship between the prevailing interest rates in the market in both, the short-term and long-term markets. Both these plans have separate term periods, that cannot be replaced among each other. So the demand and supply of debt instruments with both the periods are calculated individually.

The theory finds that, the securities that are traded in short-term market may undergo a significant flux, and the rates that are applied to long-term investments remain static to some extent. It is sometimes also known as the segmented markets theory. It mostly agrees and supports the preferred habitat theory. According to the preferred habitat theory, the investors have a specific expectation, when one is required to invest in securities with different maturity lengths. When an investor trades on an opportunity, that matches their preferences and their assumed degree of risk, the expectations remain within the degree of reason. However, if he buys or sells securities that have a maturity beyond their preferences, it will affect their assumption of risks and needs, and will require a need for increased return to balance that risk.

Those who advocate this theory have pointed out that, the evaluation of the yield curves of short-term and long-term markets, shows that the rate of interest applied has little or no relationship with one another. In fact, the yield curve

Cash Only Surveys

In the past decade, advertisers have greatly capitalized on the widespread usage of the Internet. Surveys for cash help marketing companies to know what the consumers want, the price at which they want it, and what is their reaction to a specific product, or what improvements do they want in a specified product. Companies want honest opinions – positive or negative.

What are They?

Surveys that pay cash only, are conducted through the Internet or in some cases phones. These are sometimes also known as e-surveys for money. They are conducted by different advertising and marketing companies that manufacture consumer oriented goods. To participate and earn from such surveys, you will have to visit the websites of companies that conduct them. You will have to register yourself and in some cases, you will have to pay some requisite fees, which are quite nominal. The company will get in touch with you and will send over a survey questionnaire or will send over specifications for some write-up or review that you will have to write and submit. In some cases, if you use the manufactures products, you will also be requested to participate in forums or in chat rooms where your task will be answering questions and queries of potential consumers. There are several paid online surveys for college students, which are organized by some media companies and publication houses. In all of them, you just have to give your honest opinion. It may be positive or negative.

Positive one: product xyz is a great product, it has these 1,2,3, features and is great. It has improved my life drastically…

Negative one: product xyz is a great product, it has these 1,2,3, features and is great. It has improved my life drastically… but it has one demerit…

The payment that you receive for contributing to the