Market Research Facts

Do you know your customers intimately?

Farai — Thu, 29 Jul 2010 13:20:50 +0000

There are two main marketing strategies businesses can use to reach their customers effectively. There is mass marketing which refers to treatment of the entire market as a homogeneous group and offering the same marketing mix to all the customers. It allows economies of scale to be realized through mass production, mass distribution and mass [...]

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Do you know your customers intimately?

Will you ever be Rich?

Farai — Thu, 22 Jul 2010 10:14:25 +0000

In a recent survey conducted by Princeton Survey Research Associates International, Americans believe its harder to get rich than it used to be. But when asked about the likelihood of getting rich personally, about one-third say it’s very or somewhat likely that they will attain wealth because of their work, investments, inheritance or good luck. On the [...]

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Will you ever be Rich?

Methods of getting information from customers

Farai — Mon, 19 Jul 2010 17:49:33 +0000

Many business managers think they know what their customers think and want. This feeling is derived from their gut feel which often times is contrary to what is obtainable in the market place. Businesses can not survive and excel if they don’t meet the needs of their customers. Thats a fact of life. In order [...]

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Methods of getting information from customers

Market research as a black box

Farai — Mon, 19 Jul 2010 16:27:24 +0000

Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. Market Research is not an isolated discipline – like science or biology. It is a scientific process that marketers use to understand the market place. Market research helps marketers and business leaders to understand their [...]

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Market research as a black box

Is traditional market research under threat?

Farai — Mon, 17 May 2010 23:02:11 +0000

With the advent of online interview panels gathering information has never been easier. Forums such as Facebook and Twitter are cheap and fast information gathering platforms. A new study from Carnegie Mellon University shows that analyzing data from Twitter yields the same results as conducting a public opinion poll. A CMU team from the computer science [...]

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Is traditional market research under threat?

Low Levels Of Trust In Facebook Over Privacy

Farai — Tue, 04 May 2010 13:35:54 +0000

A recent UK study finds consumers have less faith in Facebook than either Microsoft or Google to keep their personal information private. Social networking sites typically involve disclosing often very personal information to your circle of friends and to this end, it is important to have faith that the social networking brand will respect the privacy [...]

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Low Levels Of Trust In Facebook Over Privacy

Customer Satisfaction Vs Mystery Shopping

Farai — Thu, 15 Apr 2010 16:57:10 +0000

In continuation of my article, it is important to note that every company needs to measure customer satisfaction. It is the heart of any modern business strategy. Research has shown that most companies spend about 3% of revenues on measuring customer satisfaction. Understanding customer demographics, expectations, motivations, and desires creates an opportunity to serve customers better [...]

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Customer Satisfaction Vs Mystery Shopping

Keep a tag on your customers

Farai — Wed, 14 Apr 2010 16:32:19 +0000

The first quarter for 2010 has come and gone. Many businesses are still suffering or recovering from the effects of the Global financial recession experienced in 2009. Financial institutions are still skeptical about lending money. Borrowing is still very expensive and other sources of cash flow injection are still beyond reach. For some companies 2010 promises [...]

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Keep a tag on your customers

Nigeria Africa’s largest Telecom Market

Farai — Fri, 26 Mar 2010 11:26:58 +0000

Nigeria is the largest mobile market on the African continent with about 61 million users as at December 2009, however, this penetration is below 50% suggesting that there is ample room for market expansion, this was revealed by a recent study conducted by Canadian research firm Technology Strategies International, in partnership with BroadGroup TMT Ventures. The [...]

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Nigeria Africa’s largest Telecom Market

Income Disparity between white and black Single Women

Farai — Tue, 16 Mar 2010 16:25:19 +0000

According to a report released by the Insight Center for Community Economic Development this week, there is a vast discrepancy in wealth between single women of color and single white women. The study, “Lifting As We Climb: Women of Color, Wealth, and America’s Future,” found that while the median net worth of single white women ages 36-49 [...]

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Income Disparity between white and black Single Women