¶ … Market Research Impacts Relationship Marketing
How Market Research Impacts Management of Customer Expectations wide variety of market research techniques and approaches are used in companies for first discovering unmet customer needs, then defining product, pricing, distribution and services strategies for their fulfillment. Discovering unmet needs and their expectations of fulfillment are what differentiate successful new service and product development strategies. When market research techniques are used to capture customers' unmet needs and their expectations, respondents tend to overstate the negative aspects of how their needs have been unfilled or partially met (Yu, 2005).
This dynamic of measuring customer expectations is particularly relevant to Microsoft and their efforts to retain their Microsoft Office, Internet Explorer, and other personal productivity applications. With the growth of open source applications that are either free for download (as Google StarOffice) or purchasable for a fraction of the cost of Microsoft Office, Microsoft has a major challenge on their hands of researching customer expectations. The use of usability testing labs and the role of Microsoft Research looking to completely re-define the software user experience are examples of how customer expectation research impacts product strategy (Turner & Krizek, 2006). Microsoft's future development plans for ensuring a high level of usability of their applications also includes putting the familiar Microsoft Office applications interface onto the more complex Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). These are all strategies Microsoft has undertaken based on their research of customers' expectations to bring their previously more difficult-to-use applications more in alignment with what customers' expectations dictate. For Microsoft, the managing of expectations from purely a usability and functionality standpoint can mean the difference of holding onto their long-standing customers or not. Research expectations are essential for Microsoft to continually bring value to their loyal customer base. Without this research Microsoft would not be able to align their product strategies to the evolving needs and expectations of their customers.
References
Yu, L (2005). The Great Expectations Effect. MIT Sloan Management Review, 47(1), 5. Retrieved March 12, 2008, from ABI/INFORM Global database. (Document ID: 924480251).
Turner, P & Krizek, R. (2006). A Meaning-Centered Approach to Customer Satisfaction. Management Communication Quarterly: McQ, 20(2), 115-147. Retrieved March 11, 2008, from ABI/INFORM Global database. (Document ID: 1148834491).
(as the survey is an intercept interview, the survey should not exceed more than 20 minutes, and the 15-minute interview length would be the recommended duration given that the survey is about customer satisfaction.) III. Executive Summary This document provides important information on Mercy Health System's market research plan and strategy: a mini-guide on the market research process and the research plan for the proposed Customer Satisfaction Study. The market research process
Holistic Relationship Marketing Relationship Marketing Relationship marketing is one of the fastest growing research topics in business and marketing today. The premise of relationship marketing is very broad and includes or should include external and internal relationship building as a reciprocal factor for firm success. Successful relationship marketing, according to the literature, results in high productivity, high employee and customer satisfaction, low employee and customer attrition and ultimately high profitability and success.
In contrast, Harley-Davidson is selling more of an experience and also a lifestyle change. For Harley, the open road and freedom is the catalyst of their unique value proposition. For Dunkin' Donuts, the trust they have created and sustain makes them a perfect choice for millions of consumers rushing to work in the morning who may have skipped breakfast at home. Harley-Davidson is all about a lifestyle change and freedom
Ultimately the use of multiple forecasting techniques serves to increase the knowledge of a market and minimize market entry risk. How would you forecast sales force size in a specialized industry, for example, aircraft? As the demand for aircraft is defined by a select set of customers who have highly specialized information needs, defining the sales force size for aircraft would be easily accomplished by looking at the average sales cycles
In both the case of the dialysis machine sale and the funeral services, a common theme of trust pervades both. These purchasing decisions are completely different than picking out a new car, buying a new iPod, iPad or iPhone, or choosing which new digital camera to buy. These decisions are more driven by how those products contribute to our own sense of who we are and provide us a measure
What is lacking however are programs to better monitor competitors, understand more macro-economic and larger industry trends, and also understand how substitute technologies could potentially influence the company's direction. In short, the company's market research department excels at the short-range projects yet is either neglecting or doesn't have the resources to deal with the longer-range research areas that will also impact the company. Each of these areas of shortcoming will
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