Online Marketing and Big Data Analytics (W4) Flashcards
Advantages of using the Internet for market research
Reach hard-to-find groups Flexible Convenient Quick Cheap
Examples of online secondary data
News
Blogs
Websites
Examples of online qualitative research
Online focus group
Online depth interviews
Online communities
Online market research concerns
Representative- not everyone has access
Sampling - no definite list of Internet users
Self-completion- are they who they say they are?
Technical limitations- smell/ touch
Loss of non-verbal contact- non-verbal cues
Privacy concerns
Self-selection
Professional respondents
Marketing research online communities
Carefully selected groups of customers who agree to participate in an ongoing dialogue with a corporation
What do firms do with online communities
Map psyche of customer segments
Brainstorm new ideas
Co-create and test new products
Observe natural customer behaviour
Examples of brand communities
My Starbucks Idea - free WiFi/ skinny drinks
Lego - Annually receives 20,000 ideas e.g. Lego Starwars
Examples of online quantitative research
Online surveys
Commercial online panels
Commercial online panels
Groups of individuals who have agreed to receive invitations to do online surveys from a particular panel company
What does the company get charged for when using a commercial online panel?
Panel recruitment
Respondent participation
Panel management
Advantages of online surveys
Quick Cheap Personalization High response rates Reach hard-to-find customers Simple management
Disadvantages of online surveys
Not representative
Self-selecting
Lack of call-back procedure
Examples of a commercial online panel
Marketcube
Benefits of social media research
Spontaneity
Heartfelt
Cutting edge
Immediacy
Social media research approaches
Passive
Active
Passive social media approach
Analysing what has already been discussed in social media
Active social media approach
Researchers engaging in communities themselves
Advantages of traditional market research
Strong theory underpinning
Strong ethical codes
Lots of methods to choose from
Disadvantages of traditional market research
Declining response rates Boring Poor quality Costly Time-consuming
Advantages of social media research
Hard-to-find consumers are reached
Participants are expressive
Quick
Disadvantages of social media research
New theory underpinning
Un-representative
New ethical codes
Inability to target some customers
Advantages of mobile research
Increased response rate Convenient Broader reach Richer content Broader demographic Quick Cheap
Designing a mobile survey
Short (10 Qs)
Few pages
Simple Qs
Big data crisis
The amount of data is growing and we need a strategy to make sense of it
Example of when big data was used for strategic insights into customer behaviour
Australian Open
Use social media conversations/ player popularity to predict viewing demands on tournaments to determine how much computer power was needed
Advantages of big data
Real-time Diverse Access to more information Strengthens customer experience Competitive advantage
Disadvantages of big data
Data alone can’t give actionable information
Data collection is controlled
Uneducated
Management hasn’t caught up with technology
Requires cultural change
Ethical issues
Privacy issues
