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 […]
All posts by Ambarish Kumar Verma
Ambarish Kumar Verma
What is Pricing Research?
[alert style=”info” title=”Definition of Pricing Research”]Pricing research is used to measure the impact of price changes on demand of a product and to determine the optimal price for new products.[/alert] 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 […]
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 […]
What is Customer Segmentation?
[alert style=”info” title=”Definition of Customer Segmentation”]Customer segmentation is a process of creating groups of customers who have similar traits relevant to marketing like age, gender, location, interests, purchasing power etc.[/alert] 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 […]
What is a Brand?
[alert style=”info” title=”Definition of a Brand”]A BRAND is a sign, symbol, name, term or design or a combination of them, meant to identify and differentiate the products and services of any organization from those of their competitors.[/alert] A Brand is often used to refer to a sign, symbol, name, term or design or a combination […]
What is a Usage and Attitude Study?
[alert style=”info” title=”Definition of Usage and Attitude Study”]A Usage and Attitude study is used to gain understanding about the appeal of a product/service and latent opportunities by looking into purchase, usage and perception patterns of customers.[/alert] A Usage and Attitude (also called U&A, U and A) study is a strategic type of study which is […]
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 […]
What is quantitative research?
[alert style=”info” title=”Definition of Quantitative Research”]Quantitative research is a process of understanding structured data to answer how many, how much of decision making.[/alert] 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 […]
What is qualitative research?
[alert style=”info” title=”Definition of Qualitative Research”]Qualitative research is a process of understanding unstructured data and phenomenon to answer what, why, how, where, when of decision making.[/alert] 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, […]
What is secondary research?
[alert style=”info” title=”Definition of Secondary Research”]Secondary research is a process of gathering research data using data scanning techniques from already available resources.[/alert] 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 […]