Business Research in Marketing
Business research is an extremely important component of the operation of a successful company. Research helps companies make decisions based on statistical evidence and trends. In essence, it can aid in the decision making process based on probable outcomes of the future. In marketing, research is a very important precursor to before making any investment into actual advertisement. It is crucial to know certain facts about the intended customer to ensure that marketing investments are used in the most effective way. Knowing basic facts, such as the TV shows your customer watches, will make it more probable that the advertisements and marketing products are reaching the right people and serving their intended purpose. Without conducting the proper research, businesses can potentially incur high opportunity costs in their marketing activities.
The topic under investigation is permission based marketing and its future growth. Permission based marketing is the technique of providing offers and coupons to customers who specifically request them. Many companies spend a great deal of time and money tailoring these offers to these customers. The rate of converting these offers into orders is greater than many other mediums because the customer is already interested in the material. Companies are looking to maximize their efforts by utilizing permission based marketing and are trying to find ways to sign up new members. This marketing technique is used primarily through the internet with internet offers and exclusive deals. Statistical research is being used to determine the future growth of this marketing technique and ways to increase its effectiveness.
Advertisers are collecting data about permission based marketing in a variety of ways. The most common method of gathering data is to track a customer’s web activity after they click on a custom email link. This link will be provided in the permission email and will tell researchers...