Tim Bock: Show me the smart money - increasing the productivity of market research(ers).

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From Marketing Week 2009.

Achieving significant cost savings, research led-revenue replacement and growth requires wholesale changes to the way companies buy, use and conduct market research.

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  • Tendering: increases client management costs§ Myths· You are paying for fieldwork - it is a game§ Productive strategies· Stop paying for project management and time wasting· Stop paying for clerical worko Automation
  • Packaging studies“Proving” success of pre-determined strategy
  • More often than not, the trick is to remember that most markets move very, very slowly, and pretend last year’s results are this year’s
  • Benefit: can then link to other metrics (e.g., sales)
  • Tendering: increases client management costs§ Myths· You are paying for fieldwork - it is a game§ Productive strategies· Stop paying for project management and time wasting· Stop paying for clerical worko Automation
  • If you have your own panel: quick and cheap answersIf you identify a number that is borderline, then you can pay to research it more comprehensively
  • Tim Bock: Show me the smart money - increasing the productivity of market research(ers).

    1. 1.
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    4. 4. What happens if you cut 20% from a research project’s budget?<br />
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    9. 9. The DB "Royale" double truffle burger <br />$120 (US)<br />
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    14. 14. Briefing a successful study...<br />In writing:<br />List the decisions to be made <br />OR<br />List the behaviours to be changed<br />
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    16. 16. One question: “How likely is it that you would recommend this company to a friend or colleague?” <br /><ul><li>Rest of SA
    17. 17. National study
    18. 18. By product/branch/call centre
    19. 19. Track over time</li></li></ul><li>
    20. 20. Same basic idea can be applied to segmentation<br />Measure “needs” in surveys<br />Map these needs onto data<br />Customer records<br />Demographics<br />Purchases<br />Transaction records<br />
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    22. 22. DIY opportunities<br />
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    26. 26. Shameless self-promotion Analysis and chartingwww.q-researchsoftware.comtim.bock@q-researchsoftware.com<br />
    27. 27.
    28. 28. GFC “opportunities”<br />Sacking employees<br />Sacking customers<br />The new mindset<br />Fear<br />Introspection<br />Bunkering<br />Localising<br />
    29. 29.
    30. 30. VEL<br />Valuedisadvantage<br />Valueadvantage<br />Price<br />Utility (Benefit provided to customer)<br />Value maps (CVA) and the Value Equivalence Line (VEL)<br />
    31. 31. $6.95<br />
    32. 32. REPORTING AND ANALYISIS Simulator<br />

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