PP / Market Sensing
21 important questions on PP / Market Sensing
How is market sensing implemented?
Name 5 activities of market sensing
2. Buying on the internet
3. Use of social media
4. Online consumer behaviour
5. Relevant trends
Why do people buy on the internet?
- greater variety
- cheaper goods
- accessibility
- comparability
- Higher grades + faster learning
- Never study anything twice
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Why do people NOT buy on the internet?
- not being able to physically inspect it
- damage during transport
- late or no delivery
- concerns about what retailers do with your personal information and shopping behavioral data
Why do people research online and buy it in store?
- personal contact
- no shipping costs
Why do people orientate in a store but buy online?
- convenience
- less choice due to smaller range of products
- limited opening hours
What factors must be considered when determining if someone buys online?
2. Ease of use
3. Experience
4. Social factors
5. Entertainment gratification
6. Internet irritation
7. Emotional state
What are the 5 types of shoppers?
2. Pragmatic online shoppers - Consults many online sources, buys online / average use of mobile devices
3. Thorough online shoppers - always buys from online store / uses mobile device more than average
4. Multiple touchpoint shoppers - usually buys online / high mobile use
5. Online to offline shoppers - purchases are always made in the physical store or local retailer / average mobile use
What are the 3 types of social media users and what are their motivations for brand-related activities
Consumption - information, entertainment, reward
Contribution - integration, social interaction, entertainment
Creating - personal identity, entertainment
What are the 6 phases of the online purchase process of a product or service?
2. Seeking information
3. Evaluation alternatives and product selection
4. Choice of sales channel
5. Purchase
6. Result
Define need recognition, the first phases of the online purchase process
Loyal customers recommend you to others and return to you to buy more
What are the different factors influencing loyalty? 8C model
2. Contact interactivity
3. Cultivation
4. Care
5. Community
6. Choice
7. Convenience
8. Character
What are the 6 elements of the Marketing funnel?
2. Captivating - more than 1 page viewed
3. Deciding - search module used
4. Ordering - click order button
5. Paying - payed
6. Binding - returning customer
Use online market research to understand customer
- track and register online behaviour
- create a dialogue
- observe
How;
- questionnaires
- une online panels, customer databases
Traditional principles of market research also apply to online market research (population, sampling, validity, reliability, accuracy, size of the cross-selection)
What are a few tactics for online research?
- mousetracking
- online focus groups
- online communities
- Online website measurement
- Pixel technique
- Blogs and social media analyses
- Mobile research
- Neuroscience
Define the term 'Big Data'
What are the 3 V's of Big Data
Velocity; the speed with which data is sent and retrieved
Variety; the diversity of data
Complexity; being able to process large amounts of data, (distributed processing)
Descriptive analytics
How do you use Big Data?
- Reporting
- Profiling
- Web analyses
- Social listening
- Social network analyses
Diagnostic analytics
How do you use Big Data?
- Migrations analysis
- Customer segmentation
- Basket analysis
- Attribution analysis
- Customer journey analysis
Predictive analytics
How do you use Big Data?
- Customer Lifetime Value analysis
- Churn reduction modelling
- Attribute modelling
- Integrated bid data models
Prescriptive analytics (data science)
How to you use Big Data?
- Dynamic targeting
- Recommender / Personalisation systems
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
