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Chapter 3 Market Opportunity Analysis and Consumer Analysis.pptx

  1. Chapter 3 Module 1: Strategic Marketing versus Tactical Marketing
  2. Chapter 3 Module 2: The Marketing Environment
  3. 1. Research Need Determination The problem situation has to be assessed initially to determine if marketing research is needed at all. 2. Problem / Opportunity Determination Both problems and opportunities can be subject of marketing research. 3. Establishment of Research Objectives The purpose or research objectives is to gather precise information to address information gaps 4. Research Design Determination At this step, methods and procedures for the collection and analysis of information must be determined
  4. 4 Major Types of Research Design A. Observational – social phenomenon is observed in its natural setting, and observations can be made any one time or regularly within a period of time. B. Experimental – includes laboratory experiments and test marketing. Results from 2 sets of samples are compared. C. Qualitative – includes focus groups, in depth interviews and projective techniques. This type of research uses only a small number of respondents. Thus, results are not reflective of the general population. D. Quantitative – one example of this type or research is the use of surveys. It is used to test observations. The number or respondents is relatively large and randomly selected, and the results are generally reflective of the population.
  5. Steps in the Marketing Research Process 5. Information Source/ Type Identification 2 Basic Types Types of Information : a. Primary Information – data gathered by the researcher himself for the specific research problem. b. Secondary Information – acquired from the previously conducted researches 2 Sources of information : a. Internal Data b. Focus Group 6. Determination of Data Access Method a. Person Administered Surveys b. Computer Administered Surveys c. Self Administered Surveys d. Hybrid Surveys
  6. 7. Data Collection Forms Design Types of questions used in questionnaires : a. Categorical Response Questions - Dual or Multiple Choice b. Open-ended Questions c. Metric Questions 8. Sample Size and Sampling Plan Determination Sampling methodology can be nonprobability or probability- based.
  7. 9. Data Collection This is the stage in the process where the questionnaires are administered to the selected respondents. 10. Data Analysis At this stage, collected data is summarized and generalized. The differences and relationships between and among data are determined. 11. Report Preparation and Presentation The last step in the marketing research process is the preparation and presentation of the report findings, interpretations, conclusions, and recommendations to marketing decisions makers. This serves as basis for strategic or tactical decisions. External Factor Research The information from these researches helps marketers identify macroenvironmental shifts. These are the bases in pinpointing opportunities, and anticipating threats. Observational Research This is an invaluable aid in determining consumer behavior. It assists marketers in determining the retails shelf placement strategy to use.
  8. Test Marketing Based on test marketing results, the company shall gauge the acceptability of a proposed product/service. Target Market Studies These help identify, quantify and understand the target market better. Concept, Product Development. And Product Studies Using the results generated by concept, product development and product studies, marketing organizations shall select the proposed product / service concepts that have the highest level or market acceptance. Pricing Tests Pricing tests can be utilized by marketer’s to calculate a product’s or service’s optimal price to determine price elasticity, or to determine how price adjustment can affect total demand for the product or service. Location Studies Location studies determine ideal retail store locations and is a valuable tool in site selection. Advertising pre- and post – testing These tests can determine advertising copy effectiveness, advertising recall, sales promotion response rates, outdoor advertising traffic results, and the effectiveness of public relations media placement. Usage, attitude and image studies These studies can provide cost-effective ways on how to increase a product’s / service’s awareness level and brand trial.
  9. 3 PERCEPTUAL PROCESSES GUIDE AN INDIVIDUAL PERCEPTION : • Selective Attention • Selective Distortion • Selective Retention
  10. THANK YOU!