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What is Online Marketing Research?
Online marketing research is the process by which companies use the Internet to gather data to evaluate how well a product or service is selling to consumers. The information provided by a careful market analysis conducted online can also identify popular trends that can assist a company in creating a strategy that will get better results. When used properly, online marketing research can be an effective tool that a company can use to experience higher revenues.
In addition to identifying potential areas for growth, online market research can help a company learn more about its target consumers. For example, if consumers purchase a certain type of product and then return to purchase accessories, that is a specific type of consumer behavior that can be measured. The information gathered from doing an online market research study is helpful to track this type of behavior.
An online marketing research study can be conducted by the company itself, or the company may choose to hire an outside company to manage this. How and by what method a company decides to conduct a market research plan is dependent upon how objective or anonymous the company wishes to remain. An online marketing research program can include any number of methodologies.
Some companies may use a direct method, by which a survey is sent out to existing customers to determine satisfaction levels and gather feedback. A company may also contact consumers and gather information from a specific demographic, such as an age group, or a specific geographic region. Companies may also use a “blind” method, by which a random sample of the population is contacted for opinions online.
With the advent of more social media networking websites, some companies are tapping into communities to gather important market behavior information. Some of the larger social media networks offer up general data about the registered users of these sites to benefit market research. The information gathered online in social media networks can be very valuable to marketing firms.
Using online market research data is one way that companies adapt existing products to meet the needs of consumers. It is also one of many ways that companies develop new products and services that consumers rely on. Companies carefully evaluate and use the data that online market research campaigns produce to influence the market via consumers.
When it comes to online marketing research, the general understanding is that since the market is mostly consumer driven, anything that can be done to influence consumers is positive for business. Influencing consumers stimulates the market. This can result in better products, plus higher sales and revenues for companies who best use the research data.
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![A company may conduct online market research or hire another firm to do it for them.]()
By: RidoA company may conduct online market research or hire another firm to do it for them. -
![Some companies may use a direct approach, sending a survey to existing customers to determine satisfaction levels and gather feedback.]()
By: Adrin ShamsudinSome companies may use a direct approach, sending a survey to existing customers to determine satisfaction levels and gather feedback.
Discussion Comments
Crispety- Market research surveys are also sent to people registered with a market research firm that have some of the demographics of the target study.
They will further qualify the candidate in order to determine if the person if likely to buy the product or service. If you pass the screening requirement then you will receive the actual survey.
If your survey is favorable and the market research survey indicates that you are a likely buyer then you might be offered a sample of the product in order to provide the company with additional feedback.
If the program is more wide scale, then the company might perform a focus group in order to get more detailed feedback.
Comfyshoes- Informa Research is another market research firm that offers market research services for those companies in the financial sector.
Most of their studies involve banking and financial products. They also offer mystery shopping jobs which is part of their online marketing research tools because the shopper inputs information to their site.
The best thing to do if you are interested in online marketing research companies, or conducting online marketing research surveys is to go to the Volition site.
This site lists market research companies, survey companies and companies that offer mystery shopping opportunities.
It also provides a forum for mystery shopping. The forum offers feedback on mystery shopping companies and types of jobs. The only thing that you can not do is mention the exact name of a client that you are conducting a shop for because that information should be kept confidential.
There are many companies that provide market research services. Often these market research surveys are conducted after a series of screening questions are asked. Sometimes market research firms focus on studies regarding new products or services.
Other times they may conduct covert research in order to determine the possible reasons that the company may be losing market share.
In these situations, market research services offer their client a marketing research report of a secret or mystery shopper.
Companies like Maritz Research conduct all kinds of market research jobs depending on their client’s needs.
The reports that the mystery shoppers put together is feedback that the client can use to improve his or her business. If the product that the client is producing is new to the market, then Maritz might conduct a focus group that is targeted to the exact market segment that would likely buy the product.
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