What are techniques used in Pricing Research?

There are four major techniques used for pricing research: Gabor Granger technique Van Westendorp Price Sensitivity Monitor (PSM) Conjoint Analysis (also known as Discrete Choice Analysis) Brand Price Trade-Off (BPTO) Gabor Granger Technique Gabor-Granger pricing research is also known as direct pricing research. In this technique customers are asked if they would buy a product […]

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What is Pricing Research?

Pricing research is a research method which uses research techniques geared towards measuring the impact of change in prices to the demand of any product and also to determine the optimal price for new products. Pricing research is quantitative in nature. It helps organizations find optimal price a customer is willing to pay thus helping […]

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What are different types of Customer Segmentation?

Customer segmentation is majorly of following types: Demographic Segmentation Demographic segmentation is used to divide customers into groups based on their age, gender, income level, religion or ethnicity. Geographic Segmentation Geographic segmentation is uses factors like nations, states, regions, cities, postal/zip codes to divide customer base into various groups. This helps marketers run specific marketing […]

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What is Customer Segmentation?

Customer segmentation is a process used for customer mapping which enables marketers to create groups of customers who have similar interests, age, gender, location, purchasing power etc. This helps marketers create targeted product or services for each group of customers along with customized marketing/promotional campaigns. Marketers who can identify under-served segments can develop unique products/services […]

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What is a Brand?

A Brand is often used to refer to a sign, symbol, name, term or design or a combination of them which helps individuals identify and differential a product or service of any organization from those of their competitors. In this sense it has a similar meaning as to a trademark. But brand can also be […]

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What is a Usage and Attitude Study?

A Usage and Attitude (also called U&A, U and A) study is a strategic type of study which is conducted less frequently to identify the factors related to usage of a product/service and attitude of customers towards the brand. These studies have market-wide coverage and normally cover large number of issues like frequency of purchase, […]

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Primary research vs. secondary research

 Features Primary Research Secondary Research Data Collection Technique Used Data Scanning Data Collection & Data Capture Who conducts the research? You or a market research firm hired by you Someone else. Since the data is already collected. Data Collection Tools Used Surveys, Focus Groups, Interviews, Observation, Experimentation Secondary research involves scanning already available data. Qualitative […]

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What is quantitative research?

Quantitative research is data collection research technique used in primary research to understand structured data. This process helps decision makers find answers to questions related to how many, how much etc. Since this technique relies heavily on statistical data, it is important to survey large number of people to make sure data is more reliable […]

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What is qualitative research?

Qualitative research is data collection research technique used in primary research to understand unstructured data and phenomenon. This process helps decision makers find answers to questions related to what, why, how, where and when. Qualitative research process uses small sample size compared to quantitative research. Major tools used in qualitative research are observation, focus group, […]

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What is secondary research?

Secondary research is mostly done using data scanning techniques which involves scanning and analyzing already available data in form of case studies, research papers etc. Secondary research is usually less costly than primary research since it doesn’t involve researchers to travel and spend a lot of time in field. Secondary research is sometimes also referred […]

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