Advertising Tracking
Strategic Market Research / June 27, 2017

Advertising tracking is widely deployed by the advertising research agencies to check the effectiveness of any ad campaign. Sometimes ad tracking is conducted to evaluate the combined effect of media on the overall purchase of the product, the spending behaviour of the end consumer and the quality of execution of the advertising process. A lot of companies create their own methodologies for post-testing or to track the performance of a brand. A lot of times they are also used to assess consumer awareness for the brand. The results of the research are used to determine the cost effectiveness of the campaign and to gauge the investment returns. Ad tracking checks the advertising campaigns of competitors and analyses their positioning in the market. It serves as an important tool to evaluate the impact of the campaign, how well the campaign was executed and how effectively it was positioned in various media. Today companies rely more on online tools for their study to evaluate the returns on advertising campaigns instead of using offline methods. The most common method is interviewing a small number of people and recording their responses to a set but small questionnaire. This is faster and convenient than other…

Importance of Strategic Research – The Whys and Wherefores of Business Results
Strategic Market Research / June 12, 2017

Strategy and planning are crucial to stay ahead of competition and ensure positive results. Research should be able to contribute to the process of strategising. Market research, no matter how scientifically immaculate and precise, is only successful when it can lead to quantifiable business results. Business results, in turn, are dependent on the specific strategies that enterprises make to increase profits. Whether traditional or innovative, market research analysis must then take the form of strategic research so that it can address critical as well as tough research challenges from brand, communications and customer experience to product development, segmentation and user experience. All of these, then, are crucial to create an overall strategy for the business. Strategic research has the same basic steps — to gather accurate data, analyze it for insights, and use those insights to make better decisions. Market Analytics – the capture of all the relevant market data that has been integrated, analyzed, and interpreted specifically to evaluate all your options for growth – is what helps you take decisions on the future course of action – and this is how strategies are made. Market Analytics done under the ambit of strategic research recognizes the interdependence of the…

Shopper Behavioral Analysis: an insight into the consumer’s buying behavior
Strategic Market Research / May 22, 2017

A ‘shopper behavioral analysis’ helps analyze a shopper’s experience right from product impression; in-store/website experience to the final purchase, helping companies better strategize/ customize their offerings against changing consumer behavior. There are lots of factors which influence our buying behavior. Today’s shopper is overwhelmed with numerous competitive retail or online options, making ‘shopper behavioral analysis’, a key tool for companies analyzing consumer’s decision-making, customizing their products and offerings with improved marketing strategies leading to higher brand recall and repeat shoppers. Understanding a consumer’s behavior is very important in today’s competitive scenario. ‘Shopper behavioral analysis’ helps provide a competitive edge by making them understand the effects of social and psychological factors, religion, emotions, lifestyle, culture, demography and ethnography on a consumer’s consumption and purchasing behavior. As people with similar backgrounds or occupations, might have different lifestyles, buying patterns, influences or loyalty towards a particular product, it studies and analyzes a shopper’s behavior right from the first impression of the product to evaluation and making the final transaction. Who buys your product? Who and what influenced the buying decision and how was it taken? Why does the consumer buy or prefer your product/brand, what its utility, how is it perceived?  When and…

Strategic Research – Take The Right Decision That Can Keep Up Your Brand Image

Any brand cannot take a decision of launching a product or service in a sudden haste. Often taking such quick decision can lead the company to big problems or also to a huge loss. This is the reason, proper planning and research is required so that the brand can come up with a product that is fruitful and that can reap profits for the brand. One such research conducted quite often by the big brands has been strategic research. Strategic Research is mainly a marketing strategy that helps the brands to analyse the situations well and then come up with the correct decision. The research is mainly conducted in three different levels and these are: Category level Product level Brand level   Category Level This level is mainly about the category of consumers who will be interested in having a look at the product to be launched. The level again is conducted with the help of a number of methods. Usage of the product is analysed along with the attitude of the consumers towards the product. One would also analyse the kinds of barriers in acceptance of the category. Most importantly, it has to be known that which segment of…