Market research tool

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Market research tool

  1. 1. Marketing Research Primary vs. secondary data  Advantages and disadvantages of each Marketing research toolsMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 1
  2. 2. Marketing Research An “investment” to Must weigh costs reduce uncertainty and benefits of Can help guide research decisions on  Money  Whether to enter  Time spent  Product No perfect method— characteristics tradeoffs between  Promotional strategy methods  PositioningMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 2
  3. 3. Two Research Methods Secondary: use of existing research already done  Government  Consulting firms  Newspaper and magazine articles Primary: creation of specific studies to answer specific questionsMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 3
  4. 4. Some Sources of Secondary Data U.S. Governent Trade organizations  http://StatUSA.gov Consultants  Government Department  E.g., Information web sites Resources International  Government periodicals (IRI), Nielsen in libraries Be weary of web sites  E.g., Statistical  Company sites are Abstracts glorified advertisements! Books, periodicals,  Anyone can publish a newspapers web site.MKTG 370 MARKETING RESEARCH Lars Perner, Instructor 4
  5. 5. Primary Research Methods Surveys Experimentation Observation Focus groups In-depth interviews Projective techniques Physiological MeasuresMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 5
  6. 6. Surveys Planned questions Problem questions  Open-ended  Leading  Closed-ended  Ambiguous Need large sample sizes  Unanswerable for precise conclusions  Two questions in one Forms  Non-exhaustive question  Mail  Non-mutually exclusive  Telephone answers  Mall Intercept  Computer/InternetMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 6
  7. 7. The Pentagon Declares War on Rush Limbaugh: Misleading Research Survey found that only 4.8% of listeners to the Armed Forces Radio Network wanted to listen to “the biggest hawk there is.” How could a survey be made to get these results? Being on the watch for misleading surveys.MKTG 370 MARKETING RESEARCH Lars Perner, Instructor 7
  8. 8. Experimentation Subjects in different groups treated differently  E.g., for some, “target” product is given better shelf space  E.g., some get coupon Can help isolate causes Subject is biased by questions—does not know how others are treatedMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 8
  9. 9. My Simulated Store… A shopper in the everyday low price condition…MKTG 370 MARKETING RESEARCH Lars Perner, Instructor 9
  10. 10. Observation Looking at consumes in the field—e.g.,  Searching for product category area  Number of products inspected and time spent on each  Involvement of others  Behavior under limiting circumstances (e.g., time constraints)MKTG 370 MARKETING RESEARCH Lars Perner, Instructor 10
  11. 11. Focus Groups Groups of 8-12 consumers assembled Start out talking generally about context of product Gradually focus in on actual productMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 11
  12. 12. In-depth interviews Structured vs. unstructured interviews Generalizing to other consumers BiasesMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 12
  13. 13. Projective Techniques Measurement of attitudes consumers are unwilling to express Consumer discusses what other consumer might think, feel, or doMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 13
  14. 14. Scanner Data “Household Panel” members agree to present card at purchase to link demographics and media exposure Possible to correlate conditions with purchases made:  Demographics  Exposure to advertising; number of exposures  Sales promotion, premium, special display, special conditions for competing brand  Past purchasing behaviorMKTG 370 MARKETING RESEARCH Lars Perner, Instructor 14

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