Conduct market research to continuously refine product positioning
Content
Understanding your audience by conducting research helps refine your product positioning effectively. This tactic boosts brand awareness and trust but can be time-consuming and resource-intensive. It’s worth it for the long-term clarity it brings.
Tools
| Name | Description | Pricing | Ease of Use |
|---|---|---|---|
| Ahrefs | Ahrefs is a leading SEO toolset designed to empower marketing profess… |
Paid Only
from $99.00/mo
|
Moderate
|
| Euromonitor | Euromonitor is a leading market research tool that empowers marketing… |
Paid Only
|
Moderate
|
| GfK | GfK is a pivotal marketing tool that empowers professionals with data… |
Paid Only
|
Moderate
|
| GlobalWebIndex | GlobalWebIndex is a robust market research tool offering unparalleled… |
Paid Only
|
Moderate
|
| Google Analytics | Google Analytics is a web analytics platform that tracks and reports … |
Paid Only
|
Moderate
|
Objectives
| Name | Description |
|---|---|
| Brand Awareness | Brand awareness is the marketing objective of increasing a brand's vi… |
| Customer Satisfaction | Customer Satisfaction as a marketing objective focuses on understandi… |
| Enhance Brand Reputation | Enhancing brand reputation involves cultivating a favorable perceptio… |
| Retention | Retention in marketing focuses on keeping existing customers engaged … |
| Trust and Loyalty | Trust and loyalty are crucial marketing objectives that underpin long… |
Demographics
| Name | Description |
|---|---|
| Entrepreneurs | Entrepreneurs are typically characterized by their innovation, risk-t… |
| Gen X | |
| Gen Z | Generation Z, born between 1997 and 2012, is a cohort characterized b… |
| High-Income Earners | High-Income Earners are characterized by their significant financial … |
| Millennials | Millennials, or Generation Y, are individuals born between 1981 and 1… |
Promotes
| Name | Description |
|---|---|
| Brand | Brand represents the unique identity of a business, encompassing its … |
| Content | Content is a fundamental element of contemporary marketing, encompass… |
| Digital Product | A Digital Product refers to an intangible asset distributed in digita… |
| SaaS | Software as a Service (SaaS) is a cloud-based service where instead o… |
| Service | The 'Service' is an innovative solution tailored to address current c… |
Sectors
| Name | Description |
|---|---|
| Food and Beverage | The Food and Beverage sector is a vital part of the global economy, e… |
| Healthcare | The Healthcare sector is a critical pillar of the global economy, enc… |
| Hospitality and Leisure | The Hospitality and Leisure sector encompasses hotels, restaurants, t… |
| Information Technology | The Information Technology (IT) sector is integral to the global econ… |
| Insurance | The Insurance sector is a critical part of the financial services ind… |
Strategy
| Name | Description |
|---|---|
| Brand Marketing Strategies | Building a brand's identity involves creating a unique image that con… |
| Data-Driven Marketing Strategies | Using data to guide marketing decisions helps target the right audien… |
| Product Marketing Strategies | Promoting a product involves highlighting its benefits, targeting the… |
Sub-strategy
| Name | Description |
|---|---|
| Brand Positioning Strategy | Creating a brand positioning strategy means defining how you want you… |
| Rebranding Strategy | Revamping your brand's image and messaging, a rebranding strategy hel… |
| Customer Insights Strategy | Understanding customer behavior and preferences to tailor your market… |
| Data Analytics Strategy | Leveraging data to make informed business decisions, improve performa… |
| Market Development Strategy | Expanding into new markets with existing products to reach new custom… |
Technologies
| Name | Description |
|---|---|
| Analytics & Data Tracking |
Channel
| Name | Description |
|---|---|
| Content | Content marketing is all about creating and sharing valuable content … |
Sub-channel
| Name | Description |
|---|---|
| Community Relations | Community Relations is all about building strong relationships with t… |
| Blogs | Blogs are a versatile way to connect with your audience by sharing va… |
| Podcasts | Podcasts have become a popular way to reach niche audiences with enga… |
| Webinars | Webinars are online seminars that offer a cost-effective way to reach… |
| YouTube | YouTube is an online platform where you can upload and view videos on… |
Quick Facts
Channel
Content
Advertising Type
Display
Difficulty Level
Intermediate
Estimated Cost
Medium
Time to Impact
Short (Weeks)
Tags
B2B
B2C
Pros
- Enhanced Brand Understanding helps you know your audience better and shape your messaging accordingly.
- Targeted Marketing becomes easier since you know who you’re talking to.
- Competitive Edge by knowing market gaps and positioning yourself uniquely.
- Informed Strategy as you base decisions on real data, not assumptions.
- Improved Customer Satisfaction because you understand and meet their needs.
- Long-term Clarity in brand positioning and messaging.
- Increased Trust as consumers feel you’re addressing their true needs.
Cons
- Time-Consuming requires significant time investment to gather and analyze data accurately.
- Resource Intensive might need special tools or services which can be costly.
- Constant Updating Needed as market and consumer preferences keep changing.
- Complex Analysis sometimes requires skilled personnel to interpret data.
- Initial Costs may be high relative to other tactics.
- Potential for Bias in data collection if not done correctly.
- Slow Implementation due to the lengthy process of data gathering and analysis.