Research Topics (Research points for a brand).

RESEARCH POINTS FOR A BRAND.

PRODUCT & POSITION

Positioning is the marketing activity and process of identifying a market problem or opportunity, and developing a solution based on market research, segmentation and supporting data.Positioning may refer the position a business has chosen to carry out their marketing and business objectives. Positioning relates to strategy, in the specific or tactical development phases of carrying out an objective to achieve a business' or organization's goals, such as increasing sales volume, brand recognition, or reach in advertising.

TARGET MARKET

A target market is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. The marketing mix variables of product, place (distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace.

Target markets are groups of individuals that are separated by distinguishable and noticeable aspects. Target markets can be separated by the following aspects:

segmentations - addresses (their location climate region)

demographic/socioeconomic segmentation - (gender, age, income, occupation, education, household size, and stage in the family life cycle)

psychographic segmentation - (similar attitudes, values, and lifestyles)

behavioural segmentation - (occasions, degree of loyalty)

product-related segmentation - (relationship to a product)

In addition to these segmentations, market researchers have advocated a needs-based market segmentation approach to identify smaller and better defined target groups. Some approaches to these smaller groups are:

Select the target audience – the customers are grouped based on similar needs and benefits sought by them on purchase of a product.

Identify clusters of similar needs – demographics, lifestyle, usage behaviour and pattern used to differentiate between segments.

Apply a valuation approach – market growth, barriers to entry, market access, switching, etc. are used.
Test the segments – A segment storyboard is to be created to test the attractiveness of each segment’s positioning strategy.


Modify marketing mix – expanding segment positioning strategy to include all aspects of marketing mix.

A principal concept in target marketing is that those who are targeted show a strong affinity or brand loyalty to that particular brand. Target Marketing allows the marketer or sales team to customize their message to the targeted group of consumers in a focused manner. Research has shown that racial similarity, role congruence, labeling intensity of ethnic identification, shared knowledge and ethnic salience all promote positive effects on the target market. Research has generally shown that target marketing strategies are constructed from consumer inferences of similarities between some aspects of the advertisement (e.g., source pictured, language used, lifestyle represented) and characteristics of the consumer (e.g. reality or desire of having the represented style). Consumers are persuaded by the characteristics in the advertisement and those of the consumer.

NETWORK AND PEOPLE

Networking' is a socioeconomic business activity by which groups of like-minded businesspeople recognize, create, or act upon business opportunities. A business network is a type of business social network whose reason for existing is business networking activity. There are several prominent business networking organizations that create models of business networking activity that, when followed, allow the business person to build new business relationships and generate business opportunities at the same time. A professional network service is an implementation of information technology in support of business networking. Many business people contend business networking is a more cost-effective method of generating new business than advertising orpublic relations efforts.

General

Before online business networking, there existed face-to-face networking for business. This was achieved through a number of techniques such as trade show marketing and loyalty programs. Though these techniques have been proven to still be an effective source of income, many companies now focus more on online marketing due to the ability to track every detail of a campaign and justify the spend involved in setting up one of these campaigns.

"Schmoozing" or "rubbing elbows" are expressions used among professional business professionals for introducing and meeting one another in a business context, and establishing business rapport.

Networked business.

Many business use networking as a key factor in their marketing plan. It helps to develop a strong feeling of trust between those involved and play a big part in raising the profile and takings of a company. suppliers and businesses can be seen as networked businesses, and will tend to source the business and their suppliers through their existing relationships and those of the companies they work closely with. A networked businesses tend to be open, random, and supportive, whereas those relying on hierarchical, traditional managed approaches are closed, selective, and controlling. These phrases were first used by businessman Thomas Power, businessman and chairman of Ecademy, an online business network, in 2009.