Internet Market Research CHAPTER 3

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Internet Market ResearchCHAPTER 3

• Second Lecture

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6 Types of Online Shoppers-Harris Interactive

• E-bivalent Newbies (5)
• Time Sensitive Materialists (17)
• Clicks Mortar (23)
• Hooked, Online Single (16)
• Hunter-Gatherers (20)
• Brand Loyalists (20)

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6 Types of Online Shoppers Media Metrix
McKinsey

• Simplifiers
• Surfers
• Connectors
• Bargainers
• Routiners
• Sportsters

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EC Market Research

• Describes relationship between consumers,
  products, marketing methods, and marketers
• Includes gathering of information on economy,
  industry, firms, products, pricing, distribution,
  promotion, and consumer behavior.
• Used as a precursor to development of marketing
  plans.

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Marketing Research Process

• Problem Definition and Research Objectives
• Research Methodology, Data Collection Plan
• Data Collection, Data Analysis
• Results, Recommendations, Implementation

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Discussion Question 1

• What new methods of marketing research does the
  Internet provide and what are their impacts on
  business marketing practices?

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EC Market Segmentation

• Process of dividing consumer markets into logical
  groups
• Market Segments ? Individuals
• ? Relevance of geographic segments
• Common Market segmentations (Table 3.3)

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Online Market Research Methods

• One-to-one communication with customers
• Moderated focus groups through chat rooms
• Web surveys
• Process Table 3.4 (p. 99)

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Online Market Research - Strengths

• Can control for questions not properly answered
• Control navigation
• Validation of responses
• Statistical analysis quick and efficient
• Inexpensive
• Efficient

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Online Market Research - Limitations

• More than 40 of info submitted is inaccurate
• Refusals to answer certain questions
• Costs of administering questionnaires
• Cannot target people who do not use online
  questionnaires
• Missing body language, etc.

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Online Market Research - Limitations

• Not suitable for every client
• Web surveys lower response
• No respondent control

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Data Mining

• Automated prediction of trends and behaviors
• Automated discovery of previously unknown patterns

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Data Mining - Objectives

• Locate relevant data
• Retrieval of relevant data
• User friendly method
• Discovery of unexpected results/correlations
• Easy integration with other softwares
• Five types of information yielded association,
  sequences, classifications, clusters, forecasting

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Discussion Question 2

• Why should companies use data mining tools and
  techniques to do market research?

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Intelligent Agents

• Help customers assimilate, digest and navigate
  through piles of information
• Many uses for both businesses and customers

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Intelligent Agent Types

• Search and Filtering
• Products and Vendor Finding
• Negotiation
• Customer Service
• Learning

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Management Issues

• Understanding Consumers
• Consumers and Technology
• Response Time
• Justifying Customer Service
• Timely Information
• Intelligent Agents
• Developing Relationship Marketing