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Marketing Research of CNET
Marketing Research of CNET - April 1st, 2011
CNET.com is a media news site founded in 1994 by Halsey Minor and Shelby Bonnie. It was the flagship brand of CNET Networks. In 2008, CNET Networks was acquired by CBS Interactive.
CNET provides product reviews and prices, software downloads, and tech news. The editor in chief is Scott Ard.
ince, the manufacturers of the product does not know if the certain crisp snacks which are based in United Kingdom will have positive impact in Hong Kong and be successful within their market, it is just appropriate for the crisp snacks manufacturers to undergo research investigation and find out assumptions pointing towards global market communication of the product, and be able to look further on such management within brand value and its identity respectively. The research approach proper for the market research is basically to gather first hand as well as secondary information through such techniques such as case study and its useful analysis, the case pointing towards the determination of characteristics of the Hong Kong consumers in terms of appreciating certain crisp and snack food product, probably the survey questionnaire is essential for the study particularly, The Consumer Satisfaction Survey, as it will help assess as to what specific crisp and snack items are to be accepted by the Hong Kong consumers. Aside, there can be the utilization of effective entry strategies such as considering the related market in lieu to location of business, and mostly, knowing the reality that competition is tough in the HK markets in such goods and services. The manufacturers need to identify areas in which it outshines competitors and take advantage of those strengths. The key principle will depend in selecting appropriate brand communication measures and its process hat can contribute to the HK society as a whole rather than benefiting within a single area and or service units.
The first step is to conduct marketing and branding evaluation cycle enabling the organization to realize the decisions made upon allocation of resources intended to generate branding stability to reach organization success. (1992) The members of the strategic planning team can develop forecasts to determine whether a brand unit will basically support promotions and market entrance in support to strategic brand management plan as the proper information integrates value for analysis in terms of developing a strategic brand communication direction and pursuing specific brand services. This will help the business to identify which markets will produce the strongest brand communication impact to its partners and catered group respectively. (1992)
The Study for HK Market Demand
There will determine brand lines offering potential growth and will then look into the demand for certain services like for instance, information on health status through the services being offered in finding opportunities and challenges (2000) and explores the possibility of adding a patient service through examining its database to determine the number of procedures it has performed or the number of patients admitted in a given brand communication line. Thus, marketing information can be used to create a psychographic profile of consumers and define such consumer concerns and needs; identify relevant traffic patterns and shopping habits of area consumers and determine the media, methods and referral networks that can be used to reach a target market and develop a strategy for promoting appropriate brand communication services. (2000) The business marketing staff may gather some qualitative information on the selected group to find out their opinions on crisp and snacks foods from UK, facilities and brand value image and how they make healthcare choices.
Measuring Product Market Profitability
There is cost system within the organization that enables financial managers to determine whether certain brand communication have better margins than others and receive better service development that will help Walters for example to, evaluate whether a marginal service could become profitable if the volume increased Aside, there should analyze the service mix profile and come up with a profit and loss for growth upon upgrading brand processes (1998). The manufacturers may choose to provide how to imply its branding power even if it's not profitable through strategic brand management plan as non-profitability could be a service's contribution to positive reserves and yet help enhance organization’s brand image for future growth.
The development of a new communication channel for instance, may improve the flow of customer satisfaction and give referrals for using the products. There should evaluate the strategic fit between the service and the organization's mission. It then must develop better revenue and contribution forecasts as the management must asses what brand communication affects the service and determine whether such project meets the brand management objective
RESEARCH CONTACT METHODS
Research may be collected by mail, telephone, e-mail, fax, or personal interview. Mail questionnaires can be used to collect large amounts of information at a low cost per respondent. Respondents may give more honest answers to more personal questions on a mail questionnaire than to an unknown interviewer in person or over the phone. However, mail questionnaires lack flexibility in that they require simply worded questions. They can also take a long time to complete, and the response rate—the number of people returning completed questionnaires—is often very low.
Telephone interviewing is the best method for gathering information quickly, and it provides greater flexibility than mail questionnaires. Interviewers can explain questions that are not understood. Telephone interviewing also allows greater sample control. Response rates tend to be higher than with mail questionnaires. But telephone interviewing also has its drawbacks. The cost per respondent is higher than with mail questionnaires, people may regard a phone call as more of an inconvenience or an intrusion, and they may not want to discuss personal questions with an interviewer. In the latter part of the 1990s, laws were also passed to guard against the invasion of privacy. If a person wishes to be taken off a solicitation or interview list, companies can be sued if they persist in calling.
Personal interviewing consists of inviting several people to talk with a trained interviewer about a company's products or services. The interviewer needs objectivity, knowledge of the subject and industry, and some understanding of group and consumer behavior. Personal interviewing is quite flexible and can be used to collect large amounts of information. Trained interviewers can hold a respondent's attention for a long time and can explain difficult questions. They can guide interviews, explore issues, and probe as the situation requires. The main drawbacks of personal interviewing are costs and sampling problems. Personal interviews may cost three to four times as much as telephone interviews.
Marketing researchers usually draw conclusions about large groups of consumers by studying a relatively small sample of the total consumer population. A sample is a segment of the population selected to represent the population as a whole. Ideally, the sample should be representative so that the researcher can make accurate estimates of the thoughts and behaviors of the larger population. If the sample is not representative, it may lead the company to draw the wrong conclusions and misuse its resources.
The marketing researcher must design a sampling plan, which calls for three decisions:
Sampling unit—determining who is to be surveyed. The marketing researcher must define the target population that will be sampled. If a company wants feedback on a new basketball shoe, it would be wise to target active players and even professional players.
Sample size—determining the number of people to be surveyed. Large samples give more reliable results than small samples. Samples of less than 1 percent of a population can often provide good reliability, given a credible sampling procedure. Most commercial samples consist of between several hundred and several thousand respondents.
Sampling procedure—determining how the respondents should be chosen. To obtain a representative sample, a probability (random) sampling of the population should be drawn. This is a means of determining who is reached by the survey to ensure they are indeed a valid cross-section of the sampling unit. Choosing passersby on a street corner, for example, would not produce a random sample, whereas allowing a computer to pick names randomly from a relevant calling list probably would (depending on how the list was compiled). Probability sampling allows the calculation of confidence limits for sampling error.
In collecting primary data, marketing researchers have a choice of two main research instruments—the questionnaire and mechanical devices. The questionnaire is by far the most common instrument. A questionnaire consists of a set of questions presented to a respondent for his or her answers. In preparing a questionnaire, the marketing researcher must decide what questions to ask, the form of the questions, the wording of the questions, and the ordering of the questions. Each question should be checked to see that it contributes to the research objectives.
Although questionnaires are the most common research instrument, mechanical instruments are also used. Two examples of mechanical instruments are people meters and supermarket scanners. These techniques are not widely used because they tend to be expensive, require unrealistic advertising exposure conditions, and are hard to interpret.
COLLECTING THE INFORMATION
The researcher must now collect the data. This phase is generally the most expensive and the most liable to error. In the case of surveys, four major problems arise. Some respondents will not be at home and will have to be replaced. Other respondents will refuse to cooperate. Still others will give biased or dishonest answers. Finally, some interviewers will occasionally be biased or dishonest.
CHARACTERISTICS OF GOOD
Following are the characteristics of good marketing research
Scientific method. Effective marketing research uses the principles of the scientific method: careful observation, formulation of hypotheses, prediction, and testing.
Research creativity. At its best, marketing research develops innovative ways to solve a problem.
Multiple methods. Competent marketing researchers shy away from over-reliance on any one method, preferring to adapt the method to the problem rather than the other way around. They also recognize the desirability of gathering information from multiple sources to give greater confidence.
Interdependence of models and data. Competent marketing researchers recognize that the facts derive their meaning from models of the problem. These models guide the type of information sought and therefore should be made as explicit as possible.
Value and cost of information. Competent marketing researchers show concern for estimating the value of information against its cost. Value/cost evaluation helps the marketing research department determine which research projects to conduct, which research designs to use, and whether to gather more information after the initial results are in. Research costs are typically easy to quantify, while the value is harder to anticipate. The value depends on the reliability and validity of the research findings and management's willingness to accept and act on its findings. In general, the most valuable information tends to cost the most because it requires more intensive methods, but of course it is easy to spend a great deal of money on poorly conceived research.
Healthy skepticism. Competent marketing researchers will show a healthy skepticism toward assumptions made by managers about how the market works.
Ethical marketing. Most marketing research benefits both the sponsoring company and its consumers. Through marketing research, companies learn more about consumers' needs, and are able to supply more satisfying products and services. However, the misuse of marketing research can also harm or annoy consumers. There are professional ethical standards guiding the proper conduct of research.
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Re: Marketing Research of CNET - August 17th, 2016
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