Data would be the description of a phenomenon by giving numerical and a series of observatory reports and factual measurements. Here, you have to look, see and record the exact picture of the situation. You do not add previous knowledge about the phenomenon you are studying. On the other end, information is analyzed data passing though a certain organizational channel in order to facilitate decision making.
So how are they applied in Internet Marketing?
When people go to market, they want to give data! But it is not data that will make an internet strategy work! It Is Information! In internet marketing, the company is talking to a structured worldwide community. This community Gives one the opportunity to make sound decisions about what exactly he or she expects from the purchase of the certain product or service your company will be offering.
Now whilst giving information, the Internet marketing strategy should collect data from the field to enable the company analyze and see what the market is demanding vis a vis the company production plans. This will go a long way in helping the company develop the right services and products for the market, and also set up the most appropriate pricing policy.
Does this affect the internet Market research?
The methods of collection of both qualitative and quantitative data directly affect the outcome of any research. Internet research has less quantitative data since this data must be physical, qualitative data is not physical and is used to explain why certain things are happening the way they are. This in effect places internet marketing research much safer over the availability of qualitative data that has been verified. At the same time it leads to using subjects that are strictly monitored since if not scrutinized over time, they may provide false information that will lead to wrong market perceptions.
What is the process of Internet marketing research?
Internet marketing research is not so different from any normal research. Again, the main difference here is that one is done over the net and another involves physical search and collection of data. The other fundamental issues remain, and play an important role in giving the market typography accurately. Effective market research will still involve defining the research issue, developing methodology and research design, collecting data analyzing the data and presenting the findings in a logical format. As a basic research requirement, you must state the number of respondents and the methodology used in the research. Do avoid putting in a little of what you believe except through thorough analysis of your own observations so as to present an accurate picture. With a good research, you will be able to find out how to exploit the resources at hand in order that you may have the deepest market penetration.
Is it possible to have an internet marketing plan without a market research?
Failing to research is planning to fail in your strategy. The biggest reason for research is that you will need to make a pricing policy, without knowledge of what the market dictates, you will never set the right price, and you will never know the reception of you product which will definitely lead to the loss of revenue!
Thanks the Techstore Team