Marketing Research is a set of activities that provide necessary information about manufacturers, buyers, and consumers through collecting and systematically analyzing data on all marketing elements such as product, target market, price, promotion and sales.
Because producing products should be accommodated with market needs, identifying consumers and their habits and interests has become the most important concerns of marketers. Therefore, marketing research using scientific methods can help to solve marketing problems.
Some of our Services :
Forecasting Volume and Market of New Products
Marketers should be able to estimate a number of customers who will try the new products and maybe number of times of purchasing through market research. Simulation of sales conditions can be one of the important methods for these surveys.
Measuring the Value of a Brand
A brand includes name, logo, image, and perceptions of customers about product, succinctly form service or its provider in minds of customers. The brand is created through advertising, packaging, and other marketing communications and becomes a focal point to communicate with consumers. It also expresses a promise about commodities over time that represents it. The promise about quality, performance, or other dimensions of the product can affect consumers’ choices among competing products. From the consumer's point of view, the value of a brand could be the amount that he or she wants to pay for it, and this is more than the price that the customer will pay for similar goods, not branded. Marketers try to estimate this extra price to gain insight into brand equity. However, here they are also faced with great complexities. To measure the value of a brand, a variety of methods and models are used, among which are various models such as "ten brand equities, Aker, brand asset valuator, brand equity index," and etc. This is one of the most difficult services that advertising agencies can offer to their customers.
Methods for Measuring Times of Viewing Advertisements in Media ( OTS, GRP, and CPM )
Advertising is the milestone of many marketing strategies. Positioning and communications through advertising, determines the base and timing of many other promotional and sales efforts. Advertising is a fundamental element in the marketing mix, but it is both expensive and very difficult to evaluate.
This is because tracking incremental sales that growing associated with promotional decisions is not easy. The number of people who are exposed to an advertising campaign, how many times they can see ads, all are important factors that can have a significant and decisive role in the success of advertising projects. One of the most important studies in this regard is the measurement of exposures (OTS), the contact impurity (GRP), and the cost per thousand exposures (CPM).
Measuring Share of Voice in Advertising
Advertisers want to know whether their messages can find their way in the clutter of the business environment. For this reason, the share of voice indicates the power of brand promotion over the entire market. Share of voice can be calculated at least in two ways. One classic method is to divide spending’s of advertising of a brand to total advertising costs in the market. In another way, the share of voice can be measured based on the share GRPs of brand; OTS viewing times, effective reach. Measuring share of voice will be a real help to consider the effectiveness of advertising and obtaining the desired results.
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