Why do you need it?
Of all the marketing terms, people are most often familiar with the term "marketing mix". It's used to describe the 4 tactics at a marketer's disposal, namely: product, price, place and promotion. Some also add people and process to the mixture. To understand how the marketing mix works, you can think of the analogy of baking a cake and the 4 P's being the ingredients. The finished cake will depend on how much of each ingredient you use. For a sweeter cake, add more sugar. For a product that differentiates on the basis of being accessible 24/7, increase the emphasis on place (distribution) and decrease the emphasis on price. Depending on your marketing objectives, SpySee can help you to find the answers to questions such as:
Product research
- What product characteristics are important to your customer experiencess e.g. features, colour, size etc.
- What product innovations are likely to be well-received by customers?
- What brand name appeals to your customers?
- What functionality do your customers want?
- What styling, quality, safety and packaging do your customers want?
- Is after sales service, repairs, warranty and guarantees important to your customers?
Pricing research
- What pricing strategy should you use (cash discounts, customer segment pricing, special event pricing etc.)?
- What should your suggested retail price be?
- Should you give volume discounts or offer wholesale pricing?
- Should you offer early payment discounts?
- Should you offer seasonal discounts?
- Should you bundle products or services?
Place or distribution research
- Choosing a distribution channel. Should your product or service be sold through a retailer? Should you offer the product or service wholesale? Should you use multi-level marketing or party-plan to sell your product?
- Deciding what kind of market coverage you need i.e.are you going to be exclusive, selective or have a wide inclusive distribution
- What channel partners to choose?
- Where and when should your product or service be available?
Promotion Research
- What promotion strategy to use
- Whether your key messages or copy resonates with your target market
- Selecting the advertising media that will best reach your target market and which best conveys your brand message
- Whether your advertising or promotions strategy has increased your brand recognition
Who should use this?
This package allows you to manipulate the marketing mix to achieve your business objectives and is therefore relevant to both start-up businesses and more established companies.
What does it entail?
SpySee uses a combination of surveys, anonymous customer experience assessments (mystery shopping) and focus groups to give you a picture of your market through your customer's eyes.
How do we do it?
SpySee has assessors from all walks of life. Our extensive database covers the requirements of our customers whether they would like feedback from a shopper who represents their current customer or one who represents a target market they would like to move into. Shoppers can be educated in the background of the project or they can be given minimal instructions as required. We use questionnaires, focus groups and mystery shops depending on the project goal.
When should you do it?
Marketing mix research is great for testing new concepts or ideas. It gives you feedback from your market before you sink a lot of money into a project. We therefore suggest that you use this form of research to inform any major decision.
What if you're an online business?
Understanding how your target market feels is as relevant to online businesses as it is to offline businesses.
How much does it cost?
SpySee packages are tailored to meet the needs of our clients. We take into account your budget and the sections of this package that will provide you with the information you need. We then tailor a package specifically to suit your business. Our programs are used by both large businesses and start-up companies, so why not contact SpySee for an obligation free quote.
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