Automotive Marketing Research – Importance And Benefits
Automotive industries conduct automotive marketing research to measure consumer behavior and thus understand whether a service or a product creates a sufficient demand in the market. Marketing search is considered as an effective tool in understanding the new marketing trends, likes and dislikes of the customers and the efficiency of the competitors. By conducting a well designed marketing study, manufacturers can reduce the uncertainty and risk associated with the launching of a new product.
Automotive marketing research is necessary in the following situations.
When you lack adequate information to formulate and design marketing strategy
When you are stuck with more options and confused with what to choose
When there is conflicts within the organization regarding the policy,marketing strategy and objectives
When you detect or forecast any problem like declination of market share
When you find a marketing program efficient and effective and you want to know how and why
When you are behind a new project; introducing a new product, launching a product in to a new market segment, revising the price and so on.
Following are some situations when automotive marketing research is not helpful.
When time is a constraint; when you work under strict time schedule
When you clearly know what you want know without conducting a research
When the detailed information about your research problem already exist in the data base of your organization
When the expense of conducting research exceeds its value
When the budget is insufficient to effectively carry out the research
When you feel that the research findings would not largely help in your newly launched product
When the problem is unclear to define and the objectives are undistinguishable
Presently, it is not mandatory for the marketers or the manufacturers to conduct automobile marketing research by themselves. Conducting marketing research is now easier and efficient by utilizing the service of reputed marketing research companies. These companies understand the research problem from the clients, design appropriate marketing research methodology and then conduct the research on behalf of their clients. By conducting car clinics, auto show research, drive studies, online research and mail and phone studies, these marketing research companies collect useful information from the selected samples.
Most of the reputed and experienced automotive marketing research companies conduct the marketing research through the following steps.
Understand the research objectives and information needs
Determine the appropriate research design
Develop the date collection process
Determine and design the sampling
Collect data
Processing the data
Preparation of the research report
Submitting the final report to the client
In this highly competitive global economy, automobile industries need to exploit the opportunities and avoid all the mistakes that are likely to appear while launching a new product in order to survive and be profitable. Hence, it is imperative to conduct automotive marketing research to collect current, reliable and useful information to make effective marketing strategies and decisions.