1. INTERNET MARKET RESEARCH 2. OPERATIONAL DATA TOOLS Info. for Competitive Marketing Advantages Maher ARAFAT, June, 2010.

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1. INTERNET MARKET RESEARCH 2. OPERATIONAL DATA TOOLS Info. for Competitive Marketing Advantages Maher ARAFAT, June, 2010

Info. for Competitive Marketing Advantages Information is the fuel of the new economy, It plays a key role in developing and maintaining a sustainable competitive market advantages. Collecting, evaluating and applying information faster and better than competition can be the defining edge in today’s market place and the means for successfully managing customer relationships. The internet reach, rich, speed and interactivity make continuous data gathering feasible. Also the massive collection of consumer data.

Data, the building blocks of the information age are: Numbers, text, images, and symbols that represent identities, actions, and preferences. Surveys, focus groups, brainstorming, consumer panels, and secondary research are all being conducted online via the web and with methods adapted form traditional offline market research. Online market research has gained acceptance due to: high level of validity, reliability and projectability also the internet offers fast, reach rich, cost.

Operational data tools These tools compile data into databases and warehouses, facilitate data analysis and mining, allow marketing intelligence gathering and web profiling, and collecting even more data from behavioral tracing devices like cookies and bugs. The collect far more data and are operational 24/7/365.

Market Research Is the systematic and objectively planned collection and analysis of data that are transformed into information communicated to decision makers for use in : solving marketing problems, answering marketing questions and writing effective marketing plan (Report).

Research 1. Describe 2. Predicts 3. Prescribe

1. Descriptive Research identifies and portrays: a product, buyers, competitors, behavioral intentions, market situation or related factors.

2. Predictive Research assesses and forecasts Trends Demand Actions Or events.

3. Prescriptive Research Recommends a course of action.

Market Research Methods Primary Research: - Qualitative Research 1. Focus Groups, Brainstorming 2. In-depth Interviews. - Quantitative Research: empirical research 1. Surveys. Secondary Research: - Internal Resources 1. Internal sales data - External Resources ( Agency Resources) 1. Government Statistics. 2. Independent Researches.

Comparison Table PrimarySecondary First hand dataData already exists Tailored to company needsNot specific to company needs Up to dateMay be out of date Time consuming to collectQuick to collect Expensive to collectCheaper to collect

Research Process Why sales are decreasing. What can we do to increase sales Identify Sales Problem/Question Who is responsible. When it take place. What method will be used How the data will be collected How much is budgeted What time table will be followed Who will receive the results Develop Plan (Blue Print ) The internet has made data collection far easier, faster and cheaper Collect and organize data Data, information knowledge Analyze Data Address research question Present information Provide recommendations Report Results