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.

Take-Away Notes

Here are some important notes I took note of while reading in preparation for my BUS213 Course. Very information and to the point! Be sure to check out the links if you want in depth information.

Discover GOMC

Link: http://www.google.com/onlinechallenge/discover/index.html

• Professors must get authorization from Google first and foremost
• The teams are made up for 3-6 students, one of whom must be the Team Captain
• They must identify and select a client business or nonprofit organization for this competition
• Learning and reviewing about AdWords is important, along with forming the Ad-Words Pre-Campaign Report
•  Interacting with the client is a must, and once you meet with them you can create a custom strategy for the Ad-Words Pre-Campaign Report
• When you submit your fund (credit) request, think wisely! You can only send one
• Campaigns can only last up to 21 calendar days
• Student must submit their reports prior to the end of the Campaign Window

WARNING: You can be disqualified if your campaign is under 7, or over 21 calendar days, or if you exceed the $250 credit limit.

Pre-Course Preparation - GOMC

Link: http://www.google.com/onlinechallenge/dmc/prep.html

• The Internet is the world's largest market place (hard to imagine something larger)
• Websites are "virtual real estate" (some estates are under construction, renovations, or are elaborate mansions with a lot of people to care for it)
• Websites allow you to engage your customer before actual contact (first impression)
• Ways on the internet to attract consumers
• Websites
• Review Sites
• eCommerce Sites
• Social Media
• Blogs