Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts

Wednesday, September 10, 2008

Projective Techniques -1

To understand Projective Techniques we need to understand what is projective test. A projective test, in psychology, is a personality test designed to let a person respond to ambiguous stimuli, presumably revealing hidden emotions and internal conflicts. This is different from an "objective test" in which responses are analyzed according to a universal standard (for example, a multiple choice exam). The responses to projective tests are content analyzed for meaning rather than being based on presuppositions about meaning, as is the case with objective tests.

Projective tests have their origins in psychoanalytic psychology, which argues that humans have conscious and unconscious attitudes and motivations. Unconscious attitudes and motivations form very early in life and are stored visually rather than verbally, and therefore cannot be verbally retrieved using objective tests. Unconscious attitudes and motivations can also be kept from consciousness by defense mechanisms, such as repression and projection. Conscious attitudes and motivations are formed after language skills have developed and are therefore easily articulated.

The general theoretical position behind projective tests is that whenever you ask a "question," the response that you get will be consciously-formulated and socially determined. These responses do not reflect the respondent's unconscious or implicit attitudes or motivations. The respondent's deep-seated motivations may not be consciously recognized by the respondent or the respondent may not be able to verbally express them in the form demanded by the questioner. Advocates of projective tests stress that the ambiguity of the stimuli presented within the tests allow subjects to express thoughts that originate on a deeper level than tapped by explicit questions.

ref: wikipedia

Tuesday, September 2, 2008

Focus Group

We are talking Qualitative Marketing Research techniques. We are talking here different types of qualitative research. We talked about Depth Interview in our last post. Today we are going to talk about Focus Groups.

A focus group is a form of qualitative research in which a group of people is asked about their attitude towards a product, service, concept, advertisement, idea, or packaging. Questions are asked in an interactive group setting where participants are free to talk with other group members.Ernest Dichter originated the idea of having a "group therapy" for products and this process is what became known as a focus group.

  • an interactive group discussion lead by a moderator
  • unstructured (or loosely structured) discussion where the moderator encourages the free flow of ideas
  • usually 8 to 12 members in the group who fit the profile of the target group or consumer
  • usually last for 1 to 2 hours
  • usually recorded on video
  • the room usually has a large window with one-way glass - participants cannot see out, but the researchers can see in
  • inexpensive and fast
  • can use computer and internet technology for on-line focus groups
  • respondents feel a group pressure to conform
  • group dynamics is useful in developing new streams of thought and covering an issue thoroughly

Focus Group can have above mention characteristics. We will talk about Projective Techniques in our next post.

ref: wikipedia , agents website design , insurance software

Monday, August 25, 2008

Qualitative marketing research -1

Qualitative marketing research is a set of research techniques, used in marketing and the social sciences, in which data is obtained from a relatively small group of respondents and not analyzed with statistical techniques. This differentiates it from quantitative research in which a large group of respondents provide data that are statistically analyzed.

The role of qualitative research
Qualitative research methods are used primarily as the prelude to quantitative research. They are used to define the problem, generate hypotheses, identify determinants, and develop quantitative research designs. Because of the low number of respondents involved, these exploratory research methods cannot be used to generalize to the whole population. They are however, very valuable for exploring an issue and are used by almost all researchers. They can be better than quantitative research at probing below the surface for affective drives and subconscious motivations.

Approaches
Most qualitative methods use a direct approach : they clearly disclose the purpose of the study and the organization that commissioned it. Questions are direct and to the point. Many other qualitative techniques use an indirect approach. The true intent of the research is disguised, either by claiming a false purpose or by omitting any reference to the study’s purpose. Some researchers have ethical misgivings about the deceit involved in this approach. Those researchers that use this approach feel that it provides the more honest and accurate responses. If disguised methods are used, all respondents should, on completion, attend a debriefing session in which the true purpose of the research is given and the reason for the deception explained.


we will talk about The main types of qualitative research in our next post.

ref: wikipedia, insurance software, agentswebworld

Marketing Analysis -1

For marketers planning is an essential task that must be continually undertaken. As we will see, shifting market conditions, including changing customer needs and competitive threats, almost always insure that what worked in the past will not work in the future, thus requiring revisions in how a product is marketed. Marketing management tools offered by agentswebword are better leadorganizer.

Marketing management often finds it necessary to invest in research to collect the data required to perform accurate marketing analysis. As such, they often conduct market research (alternately marketing research) to obtain this information. Marketers employ a variety of techniques to conduct market research, but some of the more common include:

  • Qualitative marketing research, such as focus groups
  • Quantitative marketing research, such as statistical surveys
  • Experimental techniques such as test markets
  • Observational techniques such as ethnographic (on-site) observation

Marketing managers may also design and oversee various environmental scanning and competitive intelligence processes to help identify trends and inform the company's marketing analysis.

ref: wikipedia, insurance software

Friday, February 22, 2008

Activities and functions - Marketing Management

Marketing management therefore encompasses a wide variety of functions and activities, although the marketing department itself may be responsible for only a subset of these. A Insurance organization useing Insurance marketing software like insurance crm software or insurance sfa software or agency management software require to do variety of funtions too. Regardless of the organizational unit of the firm responsible for managing them, marketing management functions and activities include the following:

Marketing research and analysis
In order to make fact-based decisions regarding marketing strategy and design effective, cost-efficient implementation programs, firms must possess a detailed, objective understanding of their own business and the market in which they operate. In analyzing these issues, the discipline of marketing management often overlaps with the related discipline of strategic planning.

Traditionally, marketing analysis was structured into three areas: Customer analysis, Company analysis, and Competitor analysis (so-called "3Cs" analysis). More recently, it has become fashionable in some marketing circles to divide these further into certain five "Cs": Customer analysis, Company analysis, Collaborator analysis, Competitor analysis, and analysis of the industry Context.

The focus of customer analysis is to develop a scheme for market segmentation, breaking down the market into various constituent groups of customers, which are called customer segments or market segments. Marketing managers work to develop detailed profiles of each segment, focusing on any number of variables that may differ among the segments: demographic, psychographic, geographic, behavioral, needs-benefit, and other factors may all be examined. Marketers also attempt to track these segments' perceptions of the various products in the market using tools such as perceptual mapping.

ref: wikipedia, Insurance Software, Marketing Management Software

Monday, February 4, 2008

Marketing Management - Meaning

Marketing Management we are talking here. We talked Marketing Operation Management, Marketing Resource Management. Marketing Management is directly related with SFA and agency management system. Today we continue our talk on marketing management.

Noted marketing expert Regis McKenna expressed a similar viewpoint in his influential 1991 Harvard Business Review article "Marketing is Everything." McKenna argued that because marketing management encompasses all factors that influence a company's ability to deliver value to customers; it must be "all-pervasive, part of everyone's job description, from the receptionists to the Board of Directors."

This view is also consistent with the perspective of management guru Peter Drucker, who wrote: "Because the purpose of business is to create a customer, the business enterprise has two--and only these two--basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."

But because many businesses operate with a much more limited definition of marketing, such statements can appear controversial or even ludicrous to some business executives. This is especially true in those companies where the marketing department is responsible for little more than developing sales brochures and executing advertising campaigns.

ref: wikipedia, agency management system, insurance marketing management