E-marketing/Internet Marketing : Market Research

The internet is a great tool to help the organization conduct research. Secondary data can easily be collected online, and primary data can be collected via clever use of online surveys. Market and Marketing research is essential for the company to stay ahead of its competitors and for the firm to provide what customers need. Technology is advancing and the way firms conduct their research is changing. The internet can be used to conduct research in a number of ways.

Cookies

Each time a user visits a website small text files called cookies are left on the computer, these files give an indication to the web companies what pages you have visited, and if you log into your account you have a customized view all the time. In terms of research cookies tell the website owner what pages you visit frequently, how long you spend on that page and how you navigate around the website. This information can help the firm develop a better customized experience for the user and help them develop a website which becomes more user friendly over time.

Competitor Analysis

The internet allows the company to research a competitor to analyze their marketing mix strategy online, their financial information, by looking at annual report of accounts or financial analysis done by independent websites. Also any rumors of product launches can be investigated online.

Usage Analysis

Businesses need to know how popular the internet is, and how long users spend online and what purchase patterns are like online. There are many websites that will give you this information. A quick Google search will give you a list of websites that will offer you that data to buy. The trend in the UK is towards more users spending time online not only for online shopping but also for social interaction via the use of Facebook and MSN.

Online PESTLE Analysis

Every business needs to conduct an environmental analysis. The internet enables an organization to monitor the external environment quite easily. RSS feeds from news websites can keep companies updated, as with newsletters, forums and posts. All PESTLE factors can be monitored easily online.

Online Questionnaires

A simple form of primary research online is the use of online questionnaires. When the user visits a website they are asked to complete an online questionnaire. The data is usually analyzed fairly quickly, with the results being used to improve online experiences.

Validity of data

The internet is becoming saturated with lots of data and information. When a company uses this data online they must make sure that the data is accurate and valid. Sources should be checked, the date of publication should also be checked to makes sure it is valid.