MODULE 1 – Introduction to Marketing Research: Need and Scope of Marketing Research, Structure

of Marketing Research Studies, The Marketing Research Process, Primary Research-various aspects
such as scales, questionnaire design, sampling frame & technique, Secondary Research: Secondary
and Standardized sources of Marketing Data.

Answer - Introduction to Marketing Research

Need for Marketing Research

Marketing research is an essential tool for businesses of all sizes. It helps businesses to:

• Understand their customers: Marketing research can help businesses to understand their
customers' needs, wants, preferences, and behaviors. This information can then be used to
develop more effective marketing campaigns and products.

• Identify new opportunities: Marketing research can help businesses to identify new
opportunities in the market. This information can then be used to develop new
products, services, or enter new markets.

• Make better decisions: Marketing research can help businesses to make better decisions
about their marketing strategies. This information can be used to allocate resources more
effectively and improve the return on investment (ROI) of marketing campaigns.

• Reduce risk: Marketing research can help businesses to reduce the risk of making bad
decisions. This information can be used to identify potential problems before they occur and
to develop contingency plans.

Scope of Marketing Research

Marketing research can be used to address a wide range of questions, including:

• Product research: What products do customers want? What features are important to them?

• Pricing research: What price are customers willing to pay for a product? How does price
affect demand?

• Distribution research: Where should products be distributed? What channels are most
effective for reaching customers?

• Promotion research: What type of promotion is most effective for reaching customers? What
messaging is most persuasive?

• Sales research: What is the sales potential for a new product? What are the factors that
influence sales?

Types of Marketing Research

There are two main types of marketing research:

• Primary research: Primary research is data that is collected directly from the source. This
could include surveys, interviews, focus groups, or experiments.

• Secondary research: Secondary research is data that has already been collected by someone
else. This could include industry reports, government data, or academic journals.

Marketing Research Process

The marketing research process is a series of steps that are used to collect, analyze, and interpret
data. The steps in the marketing research process are as follows:

1. Define the problem or opportunity: The first step in the marketing research process is to
define the problem or opportunity that the research is trying to address. This involves
identifying the specific research objectives and questions that will guide the study.

2. Develop a research plan: The next step is to develop a research plan that outlines the
research methodology, data collection methods, and sampling plan.

3. Collect data: The research plan is then used to collect data. This could involve administering
surveys, conducting interviews, or observing participants.

4. Analyze data: The collected data is then analyzed to identify patterns, trends, and insights.

5. Interpret results: The results of the analysis are then interpreted to answer the research
question.

6. Make recommendations: The final step in the marketing research process is to make
recommendations based on the results of the research.

Conclusion

Marketing research is an essential tool for businesses that want to be successful in today's
competitive marketplace. By conducting marketing research, businesses can gain a better
understanding of their customers, identify new opportunities, make better decisions, and reduce
risk.

MODULE 2 Multivariate Techniques Factor Analysis: Cluster Analysis, Discriminant Analysis,

Combination with Cluster Analysis, Conjoint Analysis, Multi-Dimensional Scaling: Perceptual
Mapping, Applications in Market Research.

Answer - Multivariate techniques are a set of statistical methods that can be used to analyze multiple
variables simultaneously. These techniques are particularly useful for market research because they
can help researchers to identify patterns, trends, and relationships that would not be apparent if
they were to analyze each variable separately.

Factor Analysis

Factor analysis is a statistical method that is used to reduce the number of variables in a dataset by
identifying a smaller number of underlying factors that explain the relationships between the original
variables. This can be useful for market research because it can help researchers to identify the key
dimensions that underlie consumer perceptions of a product or service.

Cluster Analysis

Cluster analysis is a statistical method that is used to group similar objects together. This can be
useful for market research because it can help researchers to identify different segments of the
market based on their characteristics.
Discriminant Analysis

Discriminant analysis is a statistical method that is used to classify objects into two or more groups.
This can be useful for market research because it can help researchers to identify factors that can be
used to predict whether a customer is likely to purchase a product or service.

Combination with Cluster Analysis

Cluster analysis and discriminant analysis can be used together to identify and classify market
segments. For example, cluster analysis can be used to identify groups of customers with similar
characteristics, and discriminant analysis can then be used to identify factors that can be used to
predict whether a customer in a particular cluster is likely to purchase a product or service.

Conjoint Analysis

Conjoint analysis is a statistical method that is used to assess consumer preferences for different
combinations of product features. This can be useful for market research because it can help
researchers to determine the relative importance of different product features and to develop new
products that are more likely to appeal to consumers.

Multi-Dimensional Scaling: Perceptual Mapping

Multidimensional scaling (MDS) is a statistical method that is used to create a map of objects based
on their perceived similarities or dissimilarities. This can be useful for market research because it can
help researchers to understand how consumers perceive different products or brands.

Applications in Market Research

Multivariate techniques have a wide range of applications in market research, including:

• Identifying market segments: Multivariate techniques can be used to identify different

segments of the market based on their characteristics. This can be useful for developing
targeted marketing campaigns.

• Understanding consumer preferences: Multivariate techniques can be used to understand

consumer preferences for different products or services. This can be useful for developing
new products that are more likely to appeal to consumers.

• Assessing product positioning: Multivariate techniques can be used to assess the positioning
of different products or brands in the market. This can be useful for developing effective
marketing campaigns.

• Developing pricing strategies: Multivariate techniques can be used to develop pricing

strategies that are based on consumer perceptions of value.

• Predicting customer behavior: Multivariate techniques can be used to predict customer

behavior, such as whether a customer is likely to purchase a product or service.

Overall, multivariate techniques are a valuable tool for market researchers. These techniques can
help researchers to gain a deeper understanding of consumers and to make better decisions about
marketing strategies, product development, and pricing.
MODULE 3 - Marketing Mix Research: Segmentation Research, Pricing research, Positioning
Research, Sales Promotion Research, Campaign Tracking Research.

Answer - Marketing mix research is a comprehensive approach to evaluating the effectiveness of

various marketing strategies and tactics. It encompasses a range of research techniques aimed at
optimizing the four Ps of marketing: product, price, place, and promotion.

1. Segmentation Research:

Segmentation research focuses on identifying and understanding distinct groups of consumers within
a target market. This involves analyzing consumer behavior, preferences, and demographics to divide
the market into segments with shared characteristics. By understanding the unique needs and
preferences of each segment, businesses can tailor their marketing strategies and product offerings
to better resonate with each group.

2. Pricing Research:

Pricing research aims to determine the optimal price for a product or service that maximizes both
sales and profits. This involves understanding consumer price sensitivity, evaluating competitor
pricing, and assessing the value proposition of the product. By conducting pricing research,
businesses can optimize their pricing strategy to balance profitability and market competitiveness.

3. Positioning Research:

Positioning research assesses how a product or service is perceived relative to its competitors in the
minds of consumers. It involves evaluating brand perception, brand awareness, and consumer
attitudes towards the product or service. By understanding its positioning, a business can refine its
marketing messages and strategies to differentiate itself from competitors and establish a strong
brand identity.

4. Sales Promotion Research:

Sales promotion research evaluates the effectiveness of various sales promotion tactics, such as
discounts, coupons, and loyalty programs. This involves tracking sales performance, measuring
customer engagement, and analyzing the impact of promotions on brand perception. By conducting
sales promotion research, businesses can optimize their promotional strategies to maximize the
return on investment (ROI) of their promotional efforts.

5. Campaign Tracking Research:

Campaign tracking research tracks the performance of marketing campaigns across various channels,
such as social media, email marketing, and advertising. This involves measuring key metrics such as
website traffic, engagement rates, and conversion rates. By tracking campaign performance,
businesses can identify which channels and tactics are most effective and make data-driven decisions
to optimize their marketing campaigns.

The combination of these research techniques provides a holistic view of the marketing mix and
helps businesses make informed decisions about their marketing strategies to achieve their business
objectives.
MODULE 4 – Syndicated studies- Retail, Household, consumer durable panels, Online panels

Answer - Syndicated studies are pre-designed research studies conducted by market research firms
that collect data from a panel of respondents on an ongoing basis. These studies provide businesses
with valuable insights into consumer behavior, market trends, and product performance, enabling
them to make informed decisions about their marketing strategies and product development.

Retail panels:

Retail panels focus on understanding consumer behavior within retail environments. They track
consumer purchases, preferences, and satisfaction levels across various retail channels, including
brick-and-mortar stores, online retailers, and e-commerce platforms. This data helps retailers
optimize product assortment, pricing strategies, and promotional campaigns to maximize sales and
customer loyalty.

Household panels:

Household panels provide insights into consumer behavior within the household context. They track
household demographics, consumption patterns, brand preferences, and media consumption habits.
This data helps businesses understand the overall purchasing power and decision-making processes
within households, enabling them to tailor their marketing messages and product offerings to
specific household segments.

Consumer durable panels:

Consumer durable panels focus on understanding consumer behavior related to the purchase and
ownership of durable goods, such as appliances, electronics, and automobiles. They track product
usage, satisfaction levels, and repurchase intentions, providing valuable insights into product
performance and brand loyalty. This data helps manufacturers understand the factors that influence
consumer decisions regarding durable goods, enabling them to improve product design, marketing
strategies, and customer service.

Online panels:

Online panels consist of a group of individuals who have agreed to participate in online surveys and
research activities. They provide a cost-effective and efficient way to collect data from a large and
diverse sample of respondents. Online panels are particularly useful for gathering insights on online
behavior, digital media consumption, and e-commerce trends.

MODULE 5 - Qualitative Analysis – Brainstorming, Focus Groups, In-Depth Interviews, Projective

Techniques,

Answer - Qualitative analysis involves exploring and understanding data that is not easily quantifiable
or numerical. It delves into the depths of human experiences, thoughts, and emotions, providing rich
insights into consumer behavior, market trends, and overall human nature.
1. Brainstorming:
Brainstorming is a collaborative technique that generates a wide range of ideas in a free-
flowing and unrestricted manner. It encourages participants to think creatively, explore
unconventional ideas, and build upon each other's contributions. Brainstoring sessions are
often used at the initial stages of research to identify potential areas of exploration, formulate
research questions, and develop hypotheses.
2. Focus Groups:
Focus groups are moderated discussions with a small group of participants (typically 6-10)
who share similar characteristics or experiences. The moderator guides the discussion
through a series of open-ended questions, allowing participants to express their opinions,
attitudes, and perceptions on a specific topic or product. Focus groups are valuable for
gathering in-depth qualitative data, understanding group dynamics, and identifying common
themes and trends.
3. In-Depth Interviews:
In-depth interviews involve one-on-one conversations between a researcher and a participant,
allowing for a more personalized and in-depth exploration of their thoughts, experiences, and
motivations. The researcher probes into the participant's responses, asking follow-up
questions to gain a deeper understanding of their perspectives and uncover underlying
emotions. In-depth interviews are particularly useful for gathering nuanced insights,
understanding individual differences, and exploring sensitive or personal topics.
4. Projective Techniques:
Projective techniques are indirect methods of gathering qualitative data by presenting
ambiguous stimuli that encourage participants to project their own thoughts, emotions, and
experiences onto the stimuli. These techniques aim to uncover underlying motivations,
attitudes, and perceptions that may not be readily expressed through direct questioning.
Common projective techniques include:
• Word Association Tests: Participants are given a list of words and asked to respond
with the first word that comes to mind. The researcher analyzes the associations
between the stimulus words and the participants' responses to identify underlying
thoughts and feelings.
• Sentence Completion Tests: Participants are given incomplete sentences and asked to
complete them. The researcher analyzes the completed sentences to gain insights into
the participants' attitudes, beliefs, and values.
• Thematic Apperception Test (TAT): Participants are shown ambiguous images and
asked to create stories about the characters and events depicted. The researcher
analyzes the stories to understand the participants' motivations, conflicts, and coping
mechanisms.
Qualitative analysis provides valuable insights into the human side of consumer behavior,
market trends, and societal phenomena. It complements quantitative research by offering a
deeper understanding of the underlying motivations, emotions, and experiences that drive
human behavior.

MODULE 6 - Applications of MR- In Consumer Research – New Product Development,

Advertising
Answer -
Market research (MR) plays a crucial role in both consumer research and new product
development (NPD), providing valuable insights that inform decision-making and enhance
the success of marketing campaigns and product launches.
Applications of MR in Consumer Research:
 1. Understanding Consumer Needs and Preferences: MR helps uncover consumer needs,
preferences, and pain points, enabling businesses to tailor products, services, and
marketing strategies to better meet consumer expectations.
2. Identifying Market Opportunities: MR helps identify untapped market opportunities
and potential growth areas, allowing businesses to expand their reach and target new
customer segments.
3. Assessing Brand Perception and Positioning: MR evaluates consumer perceptions of a
brand's image, messaging, and positioning compared to competitors, guiding brand
development and communication strategies.
4. Measuring Advertising Effectiveness: MR tracks the effectiveness of advertising
campaigns, measuring ad recall, brand awareness, and consumer attitudes towards the
brand and its products.
5. Analyzing Customer Satisfaction and Loyalty: MR assesses customer satisfaction
levels, identifying areas for improvement and building stronger customer
relationships.
Applications of MR in New Product Development (NPD):
1. Concept Testing and Idea Evaluation: MR helps evaluate new product concepts,
identifying consumer preferences, potential issues, and areas for refinement before
significant investments are made.
2. Product Design and Feature Optimization: MR provides insights into consumer
preferences for product features, functionality, and design elements, guiding product
development decisions.
3. Pricing Research and Optimization: MR helps determine the optimal price for a new
product, considering consumer price sensitivity, perceived value, and competitive
pricing strategies.
4. Predicting Product Demand and Market Potential: MR estimates the potential demand
for a new product, assessing its market size and potential sales volume to inform
production decisions.
5. Post-Launch Evaluation and Refinement: MR tracks consumer feedback and usage
patterns after product launch, identifying areas for improvement and potential product
extensions.
By effectively utilizing MR techniques, businesses can gain a deeper understanding of
consumer behavior, market trends, and the effectiveness of their marketing efforts. This
knowledge empowers them to make informed decisions that lead to successful product
launches, effective marketing campaigns, and enhanced customer satisfaction.

MODULE 7 - Media Research & Analytics & Report Preparation- Media Effectiveness Study,
Television Viewer Ship Surveys
Answer -
Media research and analytics play a crucial role in evaluating the effectiveness of media
campaigns and understanding audience behavior. It provides valuable insights that inform
decision-making, optimize media spending, and enhance the overall impact of media
strategies.
Media Effectiveness Study
A media effectiveness study is a comprehensive evaluation of the impact of a media
campaign on its target audience. It assesses various aspects, including:
 1. Reach: Determines the number of individuals exposed to the media campaign.
2. Frequency: Measures the average number of times individuals were exposed to the
campaign.
3. Awareness: Assesses whether the campaign increased brand awareness and
recognition.
4. Attitude Change: Evaluates whether the campaign influenced consumer attitudes
towards the brand or product.
5. Purchase Intent: Measures whether the campaign influenced the likelihood of
purchasing the product or service.
6. Return on Investment (ROI): Calculates the financial return generated from the media
campaign compared to the investment.
Media effectiveness studies employ various methodologies, including:
1. Surveys: Gather quantitative data on audience exposure, attitudes, and purchase
intentions.
2. Focus Groups: Provide in-depth qualitative insights into audience perceptions and
reactions to the campaign.
3. Eye-Tracking Studies: Monitor eye movement patterns to assess attention and
engagement with the campaign.
4. Online Tracking: Track website traffic, social media engagement, and online behavior
attributed to the campaign.
5. Sales and Marketing Data Analysis: Analyze sales data and marketing metrics to
correlate campaign performance with sales outcomes.
Television Viewership Surveys
Television viewership surveys are designed to measure the viewing habits of television
audiences. They provide insights into:
1. Program Ratings: Determine the number of viewers for specific television programs.
2. Audience Demographics: Understand the age, gender, location, and other
demographic characteristics of viewers.
3. Viewing Preferences: Assess preferences for different genres, channels, and program
types.
4. Viewing Behavior: Track the time spent watching television, frequency of channel
switching, and program engagement.
5. Advertising Effectiveness: Evaluate the impact of television advertising on viewer
recall, brand awareness, and purchase intent.
Television viewership surveys utilize various methods, including:
1. Diary Surveys: Participants record their daily television viewing habits over a
specified period.
2. Metering Panels: Electronic devices installed in homes track television viewing
behavior automatically.
3. Telephone Interviews: Participants are interviewed about their recent television
viewing habits.
4. Online Surveys: Participants complete online questionnaires about their viewing
preferences and habits.
5. Social Media Analysis: Analyze social media conversations and engagement related
to television programs.
By conducting media effectiveness studies and television viewership surveys, media
companies and advertisers can gain valuable insights into audience behavior, optimize media
spending, and enhance the effectiveness of their media strategies.

MODULE 8 - Descriptive Analytics: Geographical Mapping, Market Basket Analysis, U&A study

Answer –
Descriptive analytics is a fundamental type of data analysis that focuses on summarizing and
characterizing data to understand its basic features and patterns. It aims to provide a
comprehensive description of the data, often using statistical techniques and visualizations to
reveal key insights and trends.
Geographical Mapping
Geographical mapping, also known as geospatial analysis, utilizes geographical information
systems (GIS) to visualize and analyze data based on its location. It involves overlaying data
onto maps to identify spatial patterns, relationships, and trends.
Applications of geographical mapping in marketing research include:
1. Understanding Customer Distribution: Map customer locations to identify areas with
high customer density and potential target markets.
2. Analyzing Sales Performance: Map sales data to identify geographical areas with high
sales volume and potential market opportunities.
3. Assessing Competitive Landscape: Map competitor locations to understand their
market presence and identify competitive gaps.
4. Evaluating Marketing Campaign Effectiveness: Map campaign performance data to
identify areas where the campaign is most effective and areas for improvement.
Market Basket Analysis
Market basket analysis is a technique for analyzing customer purchase patterns to identify
frequently bought-together items. It helps retailers understand customer preferences, optimize
product placement, and develop targeted promotions.
Applications of market basket analysis in marketing research include:
1. Identifying Product Associations: Discover frequently purchased items that are often
bought together, suggesting potential product bundling or cross-promotion
opportunities.
2. Understanding Shopping Patterns: Analyze customer purchase patterns to identify
common shopping behaviors and preferences, informing targeted marketing
campaigns and product recommendations.
3. Optimizing Product Placement: Identify strategic product placements within a store to
increase the likelihood of customers purchasing frequently bought-together items.
4. Developing Targeted Promotions: Create targeted promotions based on frequently
bought-together items to encourage impulse purchases and increase sales.
U&A (Usability and Attitude) Study
A U&A study is a research method that combines usability testing with attitude surveys to
evaluate both the ease of use and user satisfaction of a product, service, or website.
Applications of U&A studies in marketing research include:
1. Identifying Usability Issues: Observe users interacting with a product or website to
identify usability problems, navigational difficulties, and areas for improvement.
 2. Assessing User Satisfaction: Collect user feedback through surveys to measure their
satisfaction with the product, website, or service, identifying areas for improvement
and enhancing overall user experience.
3. Understanding User Preferences: Gather insights into user preferences, expectations,
and pain points to inform product development, design decisions, and future
iterations.
4. Measuring User Engagement: Analyze user engagement metrics, such as time spent
on the website, task completion rates, and error rates, to assess the overall usability
and effectiveness of the product or service.

MODULE 9 – Brand Tracking and Brand Concept Mapping, Brand Research

Brand Valuation and Brand Equity

Answer - Brand Tracking and Brand Concept Mapping

Brand tracking is an ongoing process of measuring and monitoring brand health over time. It
involves collecting data on various brand metrics, such as brand awareness, perception, and
loyalty, and tracking changes in these metrics to assess the effectiveness of marketing
campaigns and brand strategies.

Brand concept mapping is a qualitative research technique used to understand how consumers
perceive a brand. It involves conducting in-depth interviews or focus groups with consumers
to elicit their associations and perceptions of a brand. The results are then analyzed to create a
brand concept map, which visually represents the key associations, attributes, and
relationships that consumers connect with the brand.

Brand Valuation and Brand Equity

Brand valuation is the process of determining the financial value of a brand. It considers
various factors, such as brand awareness, brand loyalty, and future earning potential, to
estimate the brand's contribution to a company's overall value.

Brand equity is the overall value of a brand to a company. It encompasses a brand's ability to
attract and retain customers, generate positive word-of-mouth, and command higher prices.
Strong brand equity can lead to increased market share, higher profitability, and a
competitive advantage.

MODULE 10 – Advanced SPSS for Data Analysis: Understanding and Application of Tools
used for Marketing Analysis:, Linear regression, Multiple linear regression
Factor Analysis, Forecast Analysis

Answer - Advanced SPSS for Data Analysis: Understanding and Application of Tools used
for Marketing Analysis

SPSS, or Statistical Package for the Social Sciences, is a powerful statistical software
package that can be used for a wide variety of data analysis tasks. In the field of marketing,
SPSS can be used to analyze data from surveys, market research studies, and customer
transactions. This information can then be used to understand customer behavior, identify
trends, and develop effective marketing strategies.

Linear Regression

Linear regression is a statistical technique that is used to model the relationship between two
or more variables. In marketing, linear regression can be used to predict sales, customer
loyalty, or other outcomes based on a set of predictor variables. For example, a linear
regression model could be used to predict sales based on factors such as advertising spending,
product price, and economic conditions.

Multiple Linear Regression

Multiple linear regression is an extension of linear regression that allows for more than one
predictor variable. This technique is useful for modeling complex relationships between
multiple variables and a single outcome variable. For example, multiple linear regression
could be used to predict customer loyalty based on factors such as customer satisfaction,
product quality, and brand image.

Factor Analysis

Factor analysis is a statistical technique that is used to identify underlying patterns or factors
within a large set of variables. In marketing, factor analysis can be used to identify customer
segments or to understand the underlying dimensions of consumer attitudes. For example,
factor analysis could be used to identify groups of customers with similar purchasing habits
or to understand the key factors that drive consumer satisfaction.

Forecast Analysis

Forecast analysis is a statistical technique that is used to predict future values of a variable
based on past and current data. In marketing, forecast analysis can be used to predict sales,
customer demand, or other outcomes. For example, forecast analysis could be used to predict
sales for the next quarter or to estimate the impact of a new marketing campaign.

These are just a few of the many advanced SPSS tools that can be used for marketing
analysis. By understanding and applying these tools, marketers can gain valuable insights into
customer behavior and develop effective marketing strategies that drive business results.

MODULE 11 - Forecast Analysis ,Predictive Analytics Model for Marketing: Moving Averages,
Time Series Forecasting Using Linear Regression

Answer -
Forecast analysis and predictive analytics models play a crucial role in marketing by enabling
businesses to anticipate future trends, understand consumer behavior, and make informed
decisions about their marketing strategies. These techniques help businesses navigate the
dynamic and ever-changing marketing landscape, allowing them to stay ahead of the
competition and achieve their marketing goals.
Moving Averages
Moving averages are a simple and effective method for smoothing out short-term fluctuations
in a time series data and identifying underlying trends. They are calculated by averaging a
series of data points over a specified window size. Moving averages are commonly used in
marketing to forecast sales, predict customer demand, and track inventory levels.
Types of moving averages:
1. Simple moving average (SMA): Averages all values within the specified window size.
2. Exponential moving average (EMA): Assigns greater weight to recent data points,
giving more importance to current trends.
3. Weighted moving average (WMA): Assigns different weights to data points within
the window size, emphasizing specific values.
Time Series Forecasting Using Linear Regression
Linear regression is a statistical technique that establishes a linear relationship between a
dependent variable (e.g., sales) and one or more independent variables (e.g., marketing
budget, product price). In time series forecasting, linear regression is used to predict future
values of the dependent variable based on historical data.
Steps involved in time series forecasting using linear regression:
1. Data preparation: Collect and clean historical data for the dependent and independent
variables.
2. Model selection: Choose an appropriate time series model, such as ARIMA
(Autoregressive Integrated Moving Average) or exponential smoothing.
3. Model estimation: Estimate the model parameters using historical data.
4. Model evaluation: Assess the model's performance using metrics like mean absolute
error (MAE) or root mean squared error (RMSE).
5. Forecasting: Use the fitted model to predict future values of the dependent variable.
Applications of Forecast Analysis and Predictive Analytics in Marketing:
1. Sales Forecasting: Predict future sales volume to optimize production, inventory
management, and marketing budgets.
2. Customer Demand Prediction: Forecast customer demand for specific products or
services to tailor marketing campaigns and optimize product distribution.
3. Campaign Effectiveness Evaluation: Analyze the impact of marketing campaigns on
sales, customer engagement, or other metrics using predictive modeling techniques.
4. Customer Churn Prediction: Identify customers at risk of churning and develop
targeted retention strategies to reduce customer attrition.
5. Product Price Optimization: Determine the optimal price for products or services
based on demand forecasts and price sensitivity analysis.
6. New Product Launch Planning: Predict the potential success and market demand for
new products before launch to inform product development and marketing strategies.
7. Customer Segmentation: Identify distinct customer segments with similar
characteristics and preferences using predictive analytics to tailor marketing messages
and offers.
8. Marketing Attribution Modeling: Attribute the impact of various marketing channels
on sales or conversions to optimize marketing resource allocation.
9. Competitive Analysis: Analyze competitor strategies and market trends to identify
opportunities and make informed competitive decisions.
10. Risk Assessment: Assess potential risks and uncertainties in the market using
predictive models to inform strategic planning and decision-making.