Quiz 10: Pricing: Understanding and Capturing Customer Value

Business

History of marketing research: The concept of marketing research started with NWA, and later significant development was made by CCP. CCP, an ad salesman, started as a marketing researcher by counting the total number of soup cans dumped at the garbage in order to identify the potential target market for C soup company. Development of market research: The advancement in technology has changed the nature of marketing research. The marketing research function majorly depends on the structure of the company. Some firms organize research units to gather information on different geographic areas, brands or product lines. Few other organizations organize their research function according to the types of research they require such as new-product development, sales analysis, sales forecasting or advertising analysis. Current status of market research: In recent times, several companies specializing in marketing research have been setup. These companies undertake marketing research functions for the companies that require it, thereby helping the companies to cut cost and manage its resources effectively.

Business information, market research data comprise an important part of the market research. Thus, the corporates are ever-striving to invent newer ways to gather these information. One latest way is to introduce online games and get the online population on the company board and get them talking by sharing of information. Such is a strategy being followed by Samsung wherein they give certain material rewards to the gamers, accompanied by virtual rewards. However the questions like what the gamers are actually getting out of such gamers have always lingered around. Since the main aim is to gather information, so these games are designed in a way to ask for the same, and are generally low on the entertainment factor. The learning process of these games comprise of the company information imbibing and learning of company cultures, and hence does not add anything to the overall general learning procedure of the company. Hence, while personal information like buying behavior, mode, and frequency of buying are being asked from the buyers; these must be done while keeping another eye on the entertainment and learning factor of the game.

The following is the primary and secondary marketing information that would be obtained from the below mentioned categories: a. Household cleaner: Primary information: Personal research Secondary information : Friends, relatives and third party b. Moist packaged cat food: Primary information: Survey and focus group Secondary information : Online data source, newspaper, and magazine c. Spray starch: Primary information: Survey, focus group, experiments, and observations Secondary information : Peer reviewed journal, newspaper, and magazine d. Electrical appliances: Primary information : Experiments, survey, and focus groups Secondary information : Blog posting, newspaper, and magazine

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