Research on Valuable Capital Market, Brands
The applied seminar on acquaintance with smart software and technologies for marketing and advertising was held at Sharif University of Technology with the participation of market research activists and researchers in this field in the month of Mordad (July/August) this year. Emrooz Marketing Research Company (EMRC) from the dnaunion group was also present in the seminar and outlined exclusive tools used for market research in this company.
In this seminar, Dr. Nasser Pashapour Nikoo, Managing Director of the dnaunion group said: “All the brands take tortous stages in order to present their products: Stages in which when the customers stand in front of the product, they would not pay special attention to it. For the customers, it is not important what a difficult direction the brands take in order to present the product to the market. But the brands cannot remain indifferent towards the reaction of the customers. The brands should know about the purchase and consumption patterns of the customers and their way of thinking. All these cases are extractable through qualitative and quantitative date for the market research. The outlook about the information derived from market research depends on the line of thinking of every organization. This is a way of thinking that has not been dealt with properly in Iran. Some Iranian brands look at the research information as the cost. This is at ae time that market research not only is not a cost but is an important capital for the brands. Those brands in the market would outstrip their competitors in the market which have paid attention to this important issue.
Answering Questions in Different Market Stages
Pashapour said: “Keep in mind that the brands should answer different questions in each stage of the product cycle in the market. These questions will change on the basis of whether the brand is in the initial, maturity or growth stage. The brands will change up to the time they reach maturity, changes that will take place step by step: Steps that should be taken with care. Philip Kotler, the father of modern marketing, in his book has discussed these questions in detail and has stated that the brands should answer which question in each stage. Checking the questions in not specific to any one region of the world and the brands in every market should respond to them. The brands in the Iranian markets should answer different questions in order to be successful. The questions that are answered with the help of the data derived from market research. Of course, market research is not important specifically for businesses, rather its outcome should be used. Market research data are collected in different ways. Some of the data collected are capable of being offered to all those active in one section of the market. However, in the meantime research studies are conducted exclusively upon the orders of a brand. To collect research data requires specific tools. The brands, stage by stage, are faced with different questions which should be answered with the help of the data provided by the tools. The tools for the collection of research data (TGI) are consumer behavior recognition tools (A*dx), advertising cost monitoring tool for the brands (X*Trim), evaluating television advertising of brands (x*pos), a tool for monitoring retail. These cases are standard tools which have been used by EMRC for years.
The Manager Director of the dnaunion group added: “In continuation, reference will be made to the questions that the brands usually should answer in different stages of the product cycle in the market. Each of these questions could be answered through one of the tools. Some of the questions expressed are in the following forms:
Stage prior to entering into the market
• Size of the market during the entry of the brand?
• Extent of product influence in the market?
• How the market will change?
• Surveying consumption habits of customers?
• Amount of share demanded by the competitors in the market?
• Attitude of consumers towards the brand names?
• Attitude of consumers towards the product price?
• Ways of pricing the brands?
Stage of brand entry into the market
• What kind of products the consumer is interested in?
• Identification of target group by the competitors?
• Analysis of a typical day of the customers?
• Understanding media usage behavior of the customers?
• Identifying TV watching pattern of the customers?
• On the basis of what subjects do the audiences watch TV?
• How is distribution of promotional budget of brands in the media?
• How is the annual budgeting of brands?
• Initial evaluation of TV commercials for brands?
The stage of brands growth in the market
• Monitoring presence of brands in the market?
• Market share change process of brands?
• Evaluation of performance of competitors in comparison with each other in the market?
• Review of performance of brands in different distribution networks?
• Process of advertising activity of brands in the market?
• Evaluation of process of advertising program performed by the brands?
• Review of optimization process of advertising by brands?
Stage of maturity of brands in the market
• Identification of effective potentials in the growth of brands?
• Influencing the target group?
• Process of influencing the target group of competitors?
• Checking communication activities of the competitors?
• Reviewing promotional performance of the brands in comparison with market competitors?
• Reviewing advertising budget spent by the brands?
The brands throughout their life cycle are faced with the crises which could be addressed through market research data -- data some of which return to the brand exclusively. In this data questions can be raised such as:
• How much is the acceptable price for the customers?
• What packages attract the customer’s attention?
Pashapour at the end of the seminar said: “In total, the brands which have given proper answers to these questions at each stage of their presence in the market through market research tools, have had continuous and constant growth -- tools the use of which requires professional experts. Through these tools, the brands can give direction to their advertising and make a proper usage. The leading brands in the market such as Peril have followed this process.