Offline Marketing and Its Importance in the Digital Era

Online and social media marketing have definitely taken the world by a storm. The marketing strategies seem to be overlapping in today’s digitised world and are flooded with online advertisements. The question arises – have traditional methods of promotions and marketing mix have taken a back seat? The media channels which are not connected to internet are termed as offline channels. With the advent of the internet, it appeared as if getting on social media was the ultimate goal for some brands. Though online marketing is more cost effective in comparison, it is used as a parallel medium with offline marketing methods to have a complete marketing mix. To be able to do so efficiently, the marketing communications person has to be well versed with the practical aspect of the techniques of management and advertising. It’s a given that any company will have their own website, it is like a mandate to do so to keep in touch with their target groups and customers, the companies often deploy offline methodologies as well. A latest research by google in collaboration with Ipsos MediCT indicated that despite the fact that online methods are immensely popular, offline channels like print media, billboards, pamphlets,…

Qualitative Market Research: providing a better insight into consumer behavior

Qualitative market research helps you have an inside look in your consumer’s perception and behavior towards your product/brand, helping improve your future decision making leading to better return on Investments (RoIs). Qualitative market research is the unstructured or semi-structured way of data collection and analysis of a consumer’s lifestyle behavior, and in-depth research of ‘why’ a consumer behaves in a certain way. It helps in future decision-making of an organization. The research entails detailed interviews, participation observation, using innovation games, group discussions and case studies. Qualitative market research is often used before the introduction of a new product idea and its development; when exploring new markets/demographics/customer groups; to assess the strength and weaknesses of a particular product/brand; for product positioning and marketing strategy, company/brand perceptions or assessing the reaction to a mass communication campaign – giving the qualitative research a wider usage scope for any type and size of an enterprise. Due to complexity of data, Qualitative research uses small group of people with similar set of characteristics (like backgrounds, attitudes/nature and demographics) and a predetermined topic. But organizations should be careful to as qualitative market research is more dependent on the skills of the researcher. Considering that there is…

The Guiding Lights of Coral, A Strategy Consulting Firm

Strategy is much more than just a plan. Strategy consulting firms are much more important for the future of any enterprise that seeks to grow in their business.  It’s the time of year that we here at Coral are thinking one thing: surveys. We think this is what most strategy consulting firms would be busy with. To get the information from company insiders that informs our rankings and company profiles, we spend months surveying employees, reading the results, and condensing them to bring to a variety of leading companies, a profile of how life is, across markets. Does strategy determine resource allocation? Is every employee empowered to execute the strategy you think of? At Coral, we see strategy as much more than a plan. It is our core business. We work with companies in every industry to develop strategies that deliver results. We are happy to have helped several clients across a myriad of industries to develop and deliver winning strategies. As a strategy consulting firm, these are some points that guide our thought processes: See things that others miss. This is important to come up with creative solutions to create value in any business. We believe it is crucial…

Specialised Market Research – A Tailor Made Approach

The main aim of market research services is to understand the environment. Finding out what is the exact requirement is key to providing exact solutions. This is why specialised market research is important. The first person to conduct ‘market research’ was apparently Alexander III of Macedon, better known to the world as Alexander the Great . After conquering a territory, his soldiers would conduct a basic form of ethnography to ease the amalgamation of newly-conquered people with Greek customs and culture. The respondent selection process employed at that time were obviously different from the specialised market research prevalent today In terms of qualitative research, integrating classic and breakthrough methodologies has led to the creation of multiple information streams that combine local expertise with a global strategic diagnosis to deliver unique insights. When correctly implemented, these new understandings can improve revenue, market share, profitability and long-term brand asset value. Specialised market research has a tailor-made client approach. It has a definite ability to deliver immediately applicable solutions. Technology has had a major role to play in this specialised market research.  Qualitative research is not just about focus groups anymore. Smartphones, tablets and/or webcam-enabled laptops have provided another powerful gateway for qualitative…