People aren't what they seem. Using Market Research can help you figure out what really makes them tick.

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    Notes on slide 1

    A man doing market research knocked on a door and was greeted by a young woman with three small children running around at her feet. He says, "I'm doing some research for Vaseline. Have you ever used the product?" She says, "Yes. My husband and I use it all the time." "And if you don't mind me asking, what do you use it for?" "We use it for sex." The researcher was a little taken back. "Usually people lie to me and say that they use it on a child's bicycle chain or to help with a gate hinge. But, in fact, I know that most people do use it for sex. I admire you for your honesty. Since you've been frank so far, can you tell me exactly how you use it for sex?" The woman says, "I don't mind telling you at all. My husband and I put it on the door knob and it keeps the kids out."

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    People aren't what they seem. Using Market Research can help you figure out what really makes them tick. - Presentation Transcript

    1. Using Marketing Research to Unleash your Marketing Genius Or How to REALLY know as much about marketing as everyone else thinks they know
    2. Frank Martin, CEO Roanoke  Richmond  Alexandria  VB
    3. 3 Things Conferred at Birth
      • A sense of Humor
      • Common Sense
      • Marketing Expertise
    4. 3 things everybody wants to tell you
      • Where you should be putting your money
      • How you should be raising your children
      • How you should be marketing your business
    5. 4 ways to develop marketing credibility
      • Undergraduate or graduate degree
      • Years of Marketing Experience in a variety of businesses
      • Physician or a CEO
      • Son or Daughter of the CEO
    6. Marketing Crisis
      • CMOs are losing jobs at an alarming rate
      • Job is second-guessed more than any in the organization
      • Marketing budgets are the first ones cut, but expectations aren’t
      • Researchers are low on the totem pole
    7. Problems:
      • We can’t even agree on what is “good marketing”
      • No generally accepted metrics for accountability
      • Perception that 1/2 is “wasted”
    8. What’s GOOD?
      • Entertaining?
      • Sells stuff?
      • Improves image?
      • Increases awareness or recognition?
      • I like it?
    9. The Inescapable TRUTH
      • Marketing IS subjective
      • It’s part of the job:
      • We face it head on
    10. How do we get better at it?
      • With Better Information
      • With discipline
      • With unfailing curiosity about…
      • Why people buy from you
      • Why they don’t
      • Where your customers are coming from
      • How they hear about you
      • What they want from you (and your competition) that they are NOT getting
      • When they want it
    11. Research is UNDER-utilized
      • Think it costs too much money (or that it WASTES money that could be better spent marketing)
      • People think they already know
      • Research is boring; marketing is exciting
      • People are intimidated
      • Don’t know how, and
      • Wonks make it too complicated
    12. Marketing Research
      • Focus on Attitudes (Why?) and Behaviors (What?)
      • Information to help make better business decisions
      • Risk-reduction
      • Finding opportunities
    13. Marketing Research
      • Surveys
      • Focus Groups and IDI’s
      • Population counts and patterns
    14. Surveys (Quantitative)
      • Telephone
      • Mail
      • Email or Internet
      • Intercept
      • Panels
    15. Qualitative Research
      • Traditional Focus Groups
      • Small Group Interviews
      • IDI’s
      • Ethnographic (in home)
    16. Population Counts and Patterns
      • Where people are
      • Where they are going
      • How they are getting there
      • What they look like
    17. What’s a marketer to do?
      • Introduce marketing research to your organization
      • It’s all about connecting with your customers and prospects
      • Do it better than anyone else in your organization - become - the voice of the customer
    18. Should Have Clear Goals
      • Make current customers spend more each time, or spend more frequently
      • Get more new customers in the door
      • Add or improve products
      • Increase market for your products (the size of the pie)
    19. 5 Research ideas
      • Primary Goal: Develop EMPATHY
      • To make you a better marketer
      • To help you make smarter marketing decisions
      • To provide a foundation of information that brings you closer to your customers
    20. Idea 1: Talk to Customers
      • Talk to customers and non-customers
        • Call or see your BEST customers
        • Monthly customer focus groups
        • Focus groups of non-customers
      • Agenda
        • Why you buy from us
        • Why you buy from competitors
        • What we could do better
        • How we could make your life easier
        • Customer Service rating: scale of 10
    21. Idea 2: Talk to YOUR people
      • Talk to people who talk to customers
        • Customer service personnel
        • Sales team
      • Agenda
        • What do customers want that we don’t give them? When customers complain - what do they complain about?
        • What are competitors giving them that we aren’t?
        • How can we help you sell more stuff, or make customers happier?
    22. Idea 3: Segment your customers
      • Conduct an intensive internal customer analysis
        • Divide customers into deciles or quintiles
        • Where are your top 20% coming from, and why do they choose you
        • How do you get more business from the remaining quintiles?
    23. Idea 4: Analyze the competition
      • Conduct an intensive analysis of your competitors
        • Whom they are targeting
        • Where advertising
        • What they are saying
        • Positioning strategy
        • Pricing
        • Channels of Distribution preferred
    24. Idea 5: Make $$ for your customers
      • Research how your best customers make money
        • What is going on in their markets that could affect their business
        • What markets are their competitors targeting? And how are they doing it?
        • What is their largest competitor doing?
    25. Summary
      • Talk to Customers
      • Talk to your people
      • Segment
      • Analyze Competition
      • $$ for Customers
    26. Better marketing through better understanding

    + Missy SchmidtMissy Schmidt, 3 years ago

    custom

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