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Titan

Titan

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Published by shishirj

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Published by: shishirj on Jan 09, 2010
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02/13/2012

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INDEXSR.NO. CONTENTS1 Introduction2 Market Research3 Market Research For Business Planning & Growth4 Tanishq – An Introduction5 Locating Tanishq6 Product Line & The Collections7 Tanishq For You8 Tanishq Retailing9 Marketing10 Tanishq Marketing Strategy11 The Jewellery Market12 Some of Tanishqs Competitors13 Tanishq – Market Research14 Tanishq – The Turnaround Story15 Promotion, Advertising & Public Relation16 Tanishq In The News17 GlobalizationINTRODUCTIONAs we see it, research in advertising and marketing is very crucial in understanding, speculating on, andultimately determining the position of the product in the consumer's mind.It is like a homework task that a good advertising/marketing/sales person would always carry out before (and after) implementing the said product's advertising/marketing strategy.By collecting data with the help of research methods, the researcher can manage to understand theconsumer, what he wants, when he wants it, and how he wants it.Research methodologies, more or less, aim to reveal consumers’ different perceptions of the product, inlarge part about the way it is advertised.The researcher wants to know how effective the advertisement is on his listeners, where the strategyfalls short, and where it can improve.Ultimately, it can be said that the most important task of advertising/marketing research is to increasethe sales of the product. This requires a well developed marketing plan, a good know-how of the prospective consumer, and most of all an effective and rational research methodology.
 
MARKET RESEARCHMarket research is the process of systematically gathering, recording and analyzing data andinformation about customers, competitors and the market. Its uses include to help create a business plan, launch a new product or service, fine tune existing products and services, and expand into newmarkets. Market research can be used to determine which portion of the population will purchase a product/service, based on variables like age, gender, location and income level.Market research is generally either primary or secondary.In secondary research, the company usesinformation compiled from other sources that appears applicable to a new or existing product. Theadvantages of secondary research are that it is relatively cheap and easily accessible. Disadvantages of secondary research are that it is often not specific to your area of research and the data used can be biased and is difficult to validate. Primary market research involves testing such as focus groups,surveys, field tests, interviews or observation, conducted or tailored specifically to that product.A list of questions that can be answered through market research:• What is happening in the market? What are the trends? Who are the competitors?• How do consumers talk about the products in the market?• Which needs are important? Are the needs being met by current products?.MARKET RESEARCH FOR BUSINESS PLANNING & GROWTHMarket research is for discovering what people want, need, or believe. It can also involve discoveringhow they act. Once that research is complete it can be used to determine how to market your specific product.For the growth and plannning of a business there are a few things that are important:Market informationMarket information is making known the prices of the different commodities in the market, the supplyand the demand. Information about the markets can be obtained in several different varieties andformats.
 
Examples of market information questions are:• Who are the customers?• Where are they located and how can they be contacted?• What quantity and quality do they want?• When is the best time to sell?Market segmentationMarket segmentation is the division of the market or population into subgroups with similar motivations. Widely used bases for segmenting include geographic differences, personality differences,demographic differences, use of product differences, and psychographic differences.Market trendsThe upward or downward movements of a market, during a period of time. The market size is moredifficult to estimate if you are starting with something completely new. In this case, you will have toderive the figures from the number of potential customers or customer segments.But besides information about the target market you also need information about your competitor, your customers, products etc.A few techniques are:• Customer analysis• Choice Modelling• Competitor analysis• Risk analysis• Product research• Advertising research

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