How do you improve your marketing mix with research feedback?

1 Product feedback

Product feedback is the feedback you get from your customers and prospects about the features, benefits, quality, design, packaging and performance of your product or service. Product feedback helps you to understand how well your product meets the needs and expectations of your target market, what problems or gaps it solves, and what improvements or innovations it needs. You can collect product feedback through surveys, interviews, focus groups, reviews, ratings, testimonials, user testing, beta testing, customer service interactions, social media monitoring and analytics.

2 Price feedback

Price feedback is the feedback you get from your customers and prospects about the value, affordability, competitiveness and fairness of your price. Price feedback helps you to determine how much your target market is willing or able to pay for your product or service, how sensitive they are to price changes, and how your price compares to your competitors and alternatives. You can collect price feedback through surveys, interviews, focus groups, experiments, A/B testing, price comparison tools, coupons, discounts, loyalty programs, sales data and analytics.

3 Place feedback

Place feedback is the feedback you get from your customers and prospects about the availability, accessibility, convenience and distribution of your product or service. Place feedback helps you to identify where, when and how your target market wants to buy your product or service, what channels and platforms they use, and what barriers or challenges they face. You can collect place feedback through surveys, interviews, focus groups, observation, mapping, geolocation, tracking, delivery data and analytics.

4 Promotion feedback

Promotion feedback is the feedback you get from your customers and prospects about the effectiveness, relevance, appeal and credibility of your marketing communication and campaigns. Promotion feedback helps you to measure how well your marketing message reaches and engages your target market, what motivates them to take action, and what influences their perception and attitude towards your brand. You can collect promotion feedback through surveys, interviews, focus groups, polls, quizzes, feedback forms, ratings, reviews, testimonials, referrals, social media monitoring, email marketing metrics and analytics.

By collecting and analyzing research feedback for each element of your marketing mix, you can gain valuable insights into your target market's behavior, preferences and satisfaction. You can use these insights to adjust and optimize your marketing mix to better match your target market's needs and wants, and to achieve your marketing objectives. Research feedback is a powerful tool to improve your marketing mix and enhance your competitive advantage.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?