Wednesday, January 14, 2015

BUS 213 Market Research Tools

Here are my thoughts on a few market research tools that my team and I will be using for the Google Online Marketing Competition.

Global Market Finder

Usage Difficulty: Fairly Simple

You fill out some basic information about your business, such as country and language then enter the key words or phrases you want associated with your AdWords. Once you search, you'll see an array of information, similar to the image below.





Benefits

It allows you to view Google web traffic associated with the words and phrases you want to use for AdWords. It shows the regions in which these searches are done, creating a target market region. This is ideal for identifying where your services or products are most likely to be popular. It also gives an estimated price range for the phrases or words you want to use for your business. This allows an easier time for calculating AdWord related costs and comparing regional advertisement. The competition bar gives an idea of how many others are competing with the same AdWords.

Google Trends

Usage Difficulty: Easy Peasy

You can view yearly trends using this tool. It gathers popular Google trends and displays them for our benefit. We are able to then use this information to make predictions on future trends, or analyze how trends became so popular, and where they became popular. This is useful for businesses large and small, because there is much to learn from this data. It allows an insight on the consumer and what makes them interested in your information, your service or product. Understanding your client or customer is vital in marketing to them.

Think with Google

Usage Difficulty: Overwhelming at First

This tool is best described as an almanac for several industries. There is a TON of information that can be narrowed down, depending on what field interests you. There are news articles, campaigns, advertisements and more, all associated with each industry. This can be used for the information within these pieces, or as an example for your own work. It also works as a newsletter to keep you informed in the desired industries if you sin up for it, sending you informative pieces.

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