Purpose and background:
Market tracking permits firms to measure awareness of brand, monitor satisfaction of user, study sentiment of the user regarding a new product or service, or analyze the effectiveness of a specific promoting campaign. The final goal of marketing is to influence and control the end users. Therefore, if the perceptions, attitudes, and behavior of end users are monitored over time, we will know if the cumulative force of all marketing activities is influencing the end users.
Scope and responsibilities:
Once all the premarketing measures have been applied and the services/products are available to users, it’s conspicuous that a tracking system has been put in place to assess the performance of all the marketing strategies and to gauge users’ feedback towards these services/products.
Procedure and methodologies:
A) Depth interviewing– Detailed interviewing of consumer/respondent which further enables validation of research as respondent’s own perspective is incorporated into the research agenda.
B) Self-completion questionnaires– Physical questionnaire designed to obtain answers from respondents. They are an ideal, simplified tool for solo researchers as there is no requirement for a field force of interviewers.
C) E-surveys– A powerful qualitative tool to collate information from relevant, focused groups of respondents or alternatively from anonymous, but genuine respondents.
D) Sampling & statistics– For market research happening on a large scale and involving large number of respondents, sampling enables to take a small proportion of the total population and to establish a result that is representative of the whole. Statistical modelling is further used to derive the importance of factors that drive customer satisfaction.
E) Telephone interviewing– This technique is used for uncomplicated, structured interviews. It is cost-effective and can target a wide range of respondents spread geographically.F) Face to face interviewing- Interviewing the respondents face to face enables them to give more time to consider their answers. Such interviews give greater understanding of answers by studying the respondent’s eye contact and body language.
