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Marketing research

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Marketing research

  2. 2. Member groups : CREATED BY: •RENY SARAH A. (C1L012017) •MELITA SARI (C1L012043) •KURNIATI PURBA N. (C1L012051) •THERESIA Y.P. (C1L012053)
  3. 3. E Effective decision making S Systematic and objective E Exude or disseminate information A Analysis of information R Recommendation for action C Collection of information H Helpful to managers R Recognition of information needs RESEARCH
  4. 4. Marketing Research: Definition • Many definitions of Marketing Research: – “Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.” – Marketing research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.
  5. 5. Definition of Marketing Research Marketing research is the systematic and objective  identification  collection  analysis  dissemination  and use of information For the purpose of improving decision making related to the  identification and  solution of problems and opportunities in marketing.
  6. 6. Need For Marketing Research • Why do businesses need accurate and up-to-date information? – To undertake marketing effectively – Changes in technology – Changes in consumer tastes – Market demand – Changes in the product ranges of competitors – Changes in economic conditions – Distribution channels
  7. 7. Purpose Of Marketing Research • Gain a more detailed understanding of consumers’ needs: – e.g., views on products’ prices, packaging, recent advertising campaigns • Reduce the risk of product/business failure: – there is no guarantee that any new idea will be a commercial success – Can help to achieve commercial success • Forecast future trends: – it can also be used to anticipate future customer needs
  8. 8. Types of marketing research • Marketing research techniques come in many forms, including:  Ad Tracking – periodic or continuous in-market research to monitor a brand’s performance using measures such as brand awareness, brand preference, and product usage. (Young, 2005)  Advertising Research – used to predict copy testing or track the efficacy of advertisements for any medium, measured by the ad’s ability to get attention (measured with AttentionTracking), communicate the message, build the brand’s image, and motivate the consumer to purchase the product or service. (Young, 2005)  Brand equity research - how favorably do consumers view the brand?  Brand association research - what do consumers associate with the brand?  Brand attribute research - what are the key traits that describe the brand promise?  Brand name testing - what do consumers feel about the names of the products?  Commercial eye tracking research - examine advertisements, package designs, websites, etc. by analyzing visual behavior of the consumer  Concept testing - to test the acceptance of a concept by target consumers  Coolhunting - to make observations and predictions in changes of new or existing cultural trends in areas such as fashion, music, films, television, youth culture and lifestyle  Buyer decision making process research - to determine what motivates people to buy and what decision-making process they use; over the last decade, Neuromarketing emerged from the convergence of neuroscience and marketing, aiming to understand consumer decision making process
  9. 9.  Copy testing – predicts in-market performance of an ad before it airs by analyzing audience levels of attention, brand linkage, motivation, entertainment, and communication, as well as breaking down the ad’s flow of attention and  flow of emotion. (Young, p 213)  Customer satisfaction research - quantitative or qualitative studies that yields an understanding of a customer's satisfaction with a transaction  Demand estimation - to determine the approximate level of demand for the product  Distribution channel audits - to assess distributors’ and retailers’ attitudes toward a product, brand, or company  Internet strategic intelligence - searching for customer opinions in the Internet: chats, forums, web pages, blogs... where people express freely about their experiences with products, becoming strong opinion formers.  Marketing effectiveness and analytics - Building models and measuring results to determine the effectiveness of individual marketing activities.  Mystery consumer or mystery shopping - An employee or representative of the market research firm anonymously contacts a salesperson and indicates he or she is shopping for a product. The shopper then records the entire experience. This method is often used for quality control or for researching competitors' products.  Positioning research - how does the target market see the brand relative to competitors? - what does the brand stand for?
  10. 10.  Price elasticity testing - to determine how sensitive customers are to price changes  Sales forecasting - to determine the expected level of sales given the level of demand. With respect to other factors like Advertising expenditure, sales promotion etc.  Segmentation research - to determine the demographic, psychographic, and behavioural characteristics of potential buyers  Online panel - a group of individual who accepted to respond to marketing research online  Store audit - to measure the sales of a product or product line at a statistically selected store sample in order to determine market share, or to determine whether a retail store provides adequate service  Test marketing - a small-scale product launch used to determine the likely acceptance of the product when it is introduced into a wider market  Viral Marketing Research - refers to marketing research designed to estimate the probability that specific communications will be transmitted throughout an individual's Social Network. Estimates of Social Networking Potential (SNP) are combined with estimates of selling effectiveness to estimate ROI on specific combinations of messages and media.
  11. 11. Marketing research methods • Methodologically, marketing research uses the following types of research designs: 1. Based on questioning Qualitative marketing research - generally used for exploratory purposes - small number of respondents - not generalizable to the whole population - statistical significance and confidence not calculated - examples include focus groups, in-depth interviews, and projective techniques Quantitative marketing research - generally used to draw conclusions - tests a specific hypothesis - uses random sampling techniques so as to infer from the sample to the population - involves a large number of respondents - examples include surveys and questionnaires. Techniques include choice modelling, maximum difference preference scaling, and covariance analysis.
  12. 12. 2. Based on observations •Ethnographic studies - by nature qualitative, the researcher observes social phenomena in their natural setting - observations can occur cross-sectionally (observations made at one time) or longitudinally (observations occur over several time-periods) - examples include product-use analysis and computer cookie traces. See also Ethnography and Observational techniques. •Experimental techniques - by nature quantitative, the researcher creates a quasi-artificial environment to try to control spurious factors, then manipulates at least one of the variables - examples include purchase laboratories and test markets
  13. 13. A Classification of Marketing Research Problem-Identification Research • Research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research. Problem-Solving Research • Research undertaken to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.
  14. 14. A Classification of Marketing Research Marketing Research Problem Identification Research Problem-Solving Research Market Potential Research Market Share Research Market Characteristics Research Sales Analysis Research Forecasting Research Business Trends Research Segmentation Research Product Research Pricing Research Promotion Research Distribution Research
  15. 15. Problem-Solving Research  Determine the basis of segmentation  Establish market potential and responsiveness for various segments  Select target markets  Create lifestyle profiles: demography, media, and product image characteristics SEGMENTATION RESEARCH  Test concept  Determine optimal product design  Package tests  Product modification  Brand positioning and repositioning  Test marketing  Control store tests PRODUCT RESEARCH
  16. 16. Problem-Solving Research PRICING RESEARCH  Pricing policies  Importance of price in brand selection  Product line pricing  Price elasticity of demand  Initiating and responding to price changes $ALE PROMOTIONAL RESEARCH  Optimal promotional budget  Sales promotion relationship  Optimal promotional mix  Copy decisions  Media decisions  Creative advertising testing  Evaluation of advertising effectiveness 0.00% APR
  17. 17. Problem-Solving Research DISTRIBUTION RESEARCH Determine…  Types of distribution  Attitudes of channel members  Intensity of wholesale & retail coverage  Channel margins  Location of retail and wholesale outlets
  18. 18. Marketing Research Process Step 1: Defining the Problem Step 2: Developing an Approach to the Problem Step 3: Formulating a Research Design Step 4: Doing Field Work or Collecting Data Step 5: Preparing and Analyzing Data Step 6: Preparing and Presenting the Report
  19. 19. The Role of Marketing Research Controllable Marketing • Product • Pricing • Promotion • Distribution Variables Marketing Research Marketing Decision Making Providing Information Assessing Information Needs Marketing Managers • Market Segmentation • Performance & Control • Target Market Selection • Marketing Programs Uncontrollable Environmental Factors • Economy • Technology • Laws & Regulations • Social & Cultural Factors • Political Factors • Consumers • Employees • Shareholders • Suppliers Customer Groups
  20. 20. Marketing Research Suppliers & Services LIMITED SERVICE Branded Products and Services Data Analysis Services Analytical Services Coding and Data Entry Services Field Services FULL SERVICE Syndicate Services Standardized Services Customiz ed Services Internet Services RESEARCH SUPPLIERS EXTERNALINTERNAL Fig 1.3
  21. 21. Selected Marketing Research Career Descriptions Vice-President of Marketing Research: The senior position in marketing research. The vice president (VP) is responsible for the entire marketing research operation of the company and serves on the top management team. This person sets the objectives and goals of the marketing research department. Research Director: Also a senior position. The research director has the general responsibility for the development and execution of all the marketing research projects. Assistant Director of Research: Serves as an administrative assistant to the director and supervises some of the other marketing research staff members. (Senior) Project Manager: Has overall responsibility for design, implementation, and management of research projects. Statistician/Data Processing Specialist: Serves as an expert on theory and application of statistical techniques. Responsibilities include experimental design, data processing, and analysis. Fig 1.4
  22. 22. Selected Marketing Research Career Descriptions Vice President of Marketing Research • Part of company’s top management team • Directs company’s entire market research operation • Sets the goals & objectives of the marketing research department Research Director •Also part of senior management •Heads the development and execution of all research projects Assistant Director of Research •Administrative assistant to director •Supervises research staff members Senior Project Manager •Responsible for design, implementation, & research projects
  23. 23. Analyst • Handles details in execution of project • Designs & pretests questionnaires • Conducts preliminary analysis of data Junior Analyst • Secondary data analysis • Edits and codes questionnaires • Conducts preliminary analysis of data Fieldwork Director •Handles selection, training, supervision, and evaluation of interviewers and field workers Senior Analyst • Participates in the development of projects • Carries out execution of assigned projects • Coordinates the efforts of analyst, junior analyst, & other personnel in the development of research design and data collection • Prepares final report Statistician/Data Processing • Serves as expert on theory and application on statistical techniques • Oversees experimental design, data processing, and analysis Selected Marketing Research Career Descriptions
  24. 24. Criteria for Selecting a Research Supplier  What is the reputation of the supplier?  Do they complete projects on schedule?  Are they known for maintaining ethical standards?  Are they flexible?  Are their research projects of high quality?  What kind and how much experience does the supplier have? Has the firm had experience with projects similar to this one?  Do the supplier's personnel have both technical and non-technical expertise?  Can they communicate well with the client? Competitive bids should be obtained and compared on the basis of quality as well as price.
  25. 25. • Know what you’re talking about – What’s your product? – Who are you selling to in existing markets? • Look for answers to specific questions – But don’t always expect specific answers • Not everything can be found on the Internet Keys to Successful Marketing Research

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