Strategic Market Research (Chapter 4): Obtaining the Depth Required for Insight


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What determines whether market research makes a difference for an organization? The difference is the approach. Strategic market research is an approach that makes a large impact on the companies that use it. In Strategic Market Research, author Anne Beall shares her unique approach for conducting market research. In addition to talking about qualitative as well as quantitative research, Strategic Market Research provides real-life examples of how these concepts have been applied in businesses and non-profit organizations. Implementinga the strategic approach from the beginning to the end of a project provides information that inspires and changes organizations.

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Strategic Market Research (Chapter 4): Obtaining the Depth Required for Insight

  1. 1. Strategic Market Research by Dr. Anne E. Beall Prepared by Matthew A. Gilbert, MBA Chapter 4: Obtaining the Depth Required for Insight
  2. 2. Insight <ul><li>The result of looking at something deeply and seeing it in a different way. </li></ul><ul><li>Leads you to the “aha!” moment in any situation. </li></ul><ul><li>The level of depth that makes the difference. </li></ul>
  3. 3. Hearing Beyond Words <ul><li>You have to interpret what people tell you to really understand what they are saying. </li></ul><ul><li>Phrases indicating no potential purchase: </li></ul><ul><ul><li>A product or service is good for someone else. </li></ul></ul><ul><ul><li>Can’t imagine using it now but might later on. </li></ul></ul><ul><li>Timing reveals a great deal about their intent. </li></ul><ul><ul><li>If the timing is far off it means they’re not sold. </li></ul></ul>
  4. 4. Hearing Beyond Words <ul><li>Respondents communicate value: </li></ul><ul><ul><li>“Make it Cheaper” means it doesn’t provide enough value. </li></ul></ul><ul><ul><li>Americans typically pay good money for all kinds of things. </li></ul></ul><ul><ul><li>If it really is price you can ask what they would pay for it. </li></ul></ul><ul><li>Remember: It’s what people do, not what they say. </li></ul><ul><ul><li>What people don’t say tells you more than what they do. </li></ul></ul>
  5. 5. Asking the Same Question <ul><li>Qualitative research is generally conversational. </li></ul><ul><li>Ask the same question in several different ways. </li></ul><ul><ul><li>Reveals consistency among respondents’ answers. </li></ul></ul><ul><ul><li>Externalize the question, make it less personal. </li></ul></ul><ul><ul><li>Put it in a different framework to create response. </li></ul></ul><ul><ul><li>Ask respondents to imagine life without item. </li></ul></ul><ul><ul><li>Ask what a good advertisement would be. </li></ul></ul><ul><ul><li>Design the perfect product or service. </li></ul></ul>
  6. 6. Probing and Probing <ul><li>Dig and dig: don’t stop at the surface level. </li></ul><ul><li>Keep asking for additional detail. </li></ul><ul><li>Strive for specific answers. </li></ul>
  7. 7. Achieving Depth <ul><li>Manage the research project so that subsequent focus groups, interviews or discussion forum sessions don’t duplicate previous ones. </li></ul><ul><li>Remember: Focus means getting clearer! </li></ul><ul><li>Have different topics during the first and last discussion groups. </li></ul>
  8. 8. Achieving Depth <ul><li>Reiterative Approach: Revise concept statements, taglines and advertising communications between groups based on what is learned in each session. </li></ul><ul><ul><li>Ask client observers what questions they have during breaks between each of the focus group sessions. </li></ul></ul><ul><ul><li>Engages the client observers and helps guide the moderators towards addressing the real issues as they become more apparent. </li></ul></ul><ul><ul><li>Helps you refine the process to reveal truth. </li></ul></ul>
  9. 9. Testing Specific Hypothesis <ul><li>Obtain depth in both qualitative and quantitative research by testing a specific hypothesis. </li></ul><ul><li>Strategic research involves understanding what the hypotheses are in an organization and testing them. </li></ul><ul><li>Create questions to address the hypothesis. </li></ul><ul><ul><li>Respondents’ answers will prove or disprove them. </li></ul></ul>
  10. 10. Testing Potential Scenarios <ul><li>Explore how respondents will react to a potential scenario (e.g. possible future actions to be taken). </li></ul><ul><li>Quantitative: Present specific scenarios and measure consumers’ likelihood to purchase. </li></ul><ul><li>Qualitative: Test scenarios with “what if” questions. </li></ul><ul><li>Conjoint and Discrete Choice Analysis: One major “what if” between different product configurations. </li></ul><ul><ul><li>Example: Different car makes, models and types. </li></ul></ul>
  11. 11. Skip Patterns (Qualitative) <ul><li>Useful in Internet and telephone surveys. </li></ul><ul><li>Patterns skip respondents in and out of questions without them knowing questions apply only to them. </li></ul><ul><ul><li>Example: People who prefer Pepsi over Coke only asked questions about Pepsi. Those who prefer Coke are only asked questions about Coke. Those without a preference are asked questions about both brands. </li></ul></ul><ul><li>You effectively ask three questionnaires in the context of one survey. </li></ul><ul><ul><li>Longer overall survey but shorter for each respondent. </li></ul></ul>
  12. 12. Open-Ended Questions (Qualitative) <ul><li>Give respondents the option to write in their thoughts and feelings in an open-ended format. </li></ul><ul><li>Ask people to explain what they like or dislike. </li></ul><ul><li>Responses are grouped into “codes.” </li></ul><ul><ul><li>Codes are common responses given to each question. Each response is assigned to one or more codes, and agency calculates the percentage of people who volunteered that reason or perception. </li></ul></ul>