Marketing research 2210 Essay Example | Topics and Well Written Essays - 2000 words

Marketing research 2210 - Essay Example It was a black and white television ad with a jingle without music in a heavy feminine gipsy like voice. The visuals comprised of no celebrity association, just the shoes of a person walking. The advertisement had immense recall since the brand was highlighted and there was no celebrity endorsement to overshadow the brand. However, this approach might not be quite as successful in every era. The best way to make this difficult decision would be by making a decision backed by consumer support in form of conducting "Quantitative Market" and "Qualitative Market" research. 1. Ad Tracking: As defined by Young, is a periodic or continuous in-market research to monitor a brand's performance using measures such as brand awareness, brand preference, and product usage." (Young, 2005)( http://en.wikipedia.org/wiki/Marketing_research) 4. Cool Hunting :- to make observations and predictions in changes of new or existing cultural trends in areas such as fashion, music, films, television, youth culture and lifestyle (http://en.wikipedia.org/wiki/Marketing_research).Nike is a brand for the youth. The advertising campaign should be such that it should focus on the youth , their interests and then the advertising campaign should focus on those interests for example, NIKE can be marketed to all sporty , college going youth. 5. 5. Buyer decision processes research - to determine what motivates people to buy and what decision-making process they use (http://en.wikipedia.org/wiki/Marketing_research).For this purpose, an extensive survey can be undertaken in which the customers in the Nike outlets in different regions are asked to fill up a questionnaire with a set of questions. The analysis of this a survey, can help determine a lot many factors that influence buyer behavior. 6. Focus Group: Having a group of customers sit in a panel with the marketing team of the Nike group in order to discuss what the customers are looking for in a athletic shoe brand and what would influence their decision to purchase the most. How would you describe the buying behavior of consumers with respect to athletic foot wear (courtesy:http://www.tutor2u.net/business/marketing/buying_decision_process.asp) Above is a diagram that shows the model that the customer follows in making a purchase decision. Shoes are a basic need and thus the buying behavior would be low involvement. However, Nike, the athletic shoes brand, not only satisfies a need but also gives psychological benefits to the consumer. The consumer starts associating himself with the attributes of the Nike brand. The attributes of NIKE can be described as Trendy, Comfortable and Athletic and representing a lifestyle for the young. Thus, for these psychological benefits the customer is willing to pay a higher price for Nike shoes as compared to any other shoes. The second step would be to search out information. For this purpose, the customer would be vulnerable to the information bombardment through various sources including peer pressure, Print advertising, on campus advertising(in