The Future of Applied Marketing Research


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This lecture is a brief introduction into some of the current changes we see in the research industry. These are just the tip of the iceberg.

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  • 27/07/10
  • 27/07/10
  • 27/07/10
  • The Future of Applied Marketing Research

    1. 1. Future of Marketing Research Week 7 (2) Dr. Kelly Page Cardiff Business School E: T: @drkellypage T: @caseinsights FB:
    2. 2. Factors Shaping the Research Industry The future of Marketing Research Competitor Intelligence Low cost providers Surveys to Generate Sales & PR Technology e.g. internet, RFID Customer Analytics ‘ Value for money’ marketing ‘ Strategic’ consultants ‘ Respondent’ rewards Accountability International
    3. 3. Adv. & Disadvantages of Approaches APPROACH ADVANTAGES DISADVANTAGES ‘ Traditional’ MR <ul><li>Respondent anonymity </li></ul><ul><li>Target existing & potential customers </li></ul><ul><li>Richness of quantitative and qualitative data gathering </li></ul><ul><li>Attitudes, Emotions, Aspirations, Sensory </li></ul><ul><li>Sample based </li></ul><ul><li>Access </li></ul><ul><ul><li>Declining response rates </li></ul></ul><ul><ul><li>Honesty </li></ul></ul><ul><li>Time </li></ul><ul><li>Paradigm debates </li></ul>Customer Analytics <ul><li>Census based - all customers </li></ul><ul><li>Observational based, no respondent recall, ‘instant’ </li></ul><ul><li>Forum to experiment </li></ul><ul><li>Measure impact of marketing decisions </li></ul><ul><li>Behavioural data focus </li></ul><ul><li>Existing customer focus </li></ul>Competitor Intelligence <ul><li>Powerful in B2B – relationships & networks </li></ul><ul><li>Uses conventional quantitative & qualitative MR techniques and more </li></ul><ul><li>Ethics </li></ul><ul><li>Distortion through competitor ‘spoiling’ </li></ul>
    4. 4. Market Information Source: Coundley and Speller, (2006) <ul><li>Old world marketing </li></ul><ul><li>Extrapolation of data from a few separate sources based on a small sample of customers </li></ul><ul><li>Nielsen / AGB </li></ul><ul><li>Customer research </li></ul><ul><li>Shopping surveys </li></ul><ul><li>Advertising awareness studies </li></ul><ul><li>Distribution and sales information </li></ul><ul><li>Today </li></ul><ul><li>Mining the explosion of granular data collected digitally from huge numbers of individual customers </li></ul><ul><li>Loyalty cards & scanner data </li></ul><ul><li>Web analytics </li></ul><ul><li>Analysis of ISP logs </li></ul><ul><li>Customer relationship systems </li></ul><ul><li>E-mail marketing </li></ul>
    5. 5. The Power of Web Analytics <ul><li>Web analytics record actual ‘usage’ behaviour: </li></ul><ul><ul><li>What products customers look at </li></ul></ul><ul><ul><li>How often they return to the site </li></ul></ul><ul><ul><li>What they purchase </li></ul></ul><ul><ul><li>Items purchased together </li></ul></ul><ul><ul><li>What they don’t purchase </li></ul></ul><ul><ul><li>Where they drop out </li></ul></ul><ul><li>From this marketers can determine various customer buying strategies and offer a choice of routes through the site to satisfy those strategies. e.g., browsers, price led, product led </li></ul><ul><li>Going beyond Web Analytics </li></ul><ul><li>Record, experiment, analyse, model: </li></ul><ul><ul><li>Internet use </li></ul></ul><ul><ul><li>TV viewing </li></ul></ul><ul><ul><li>Loyalty and spending </li></ul></ul><ul><ul><li>Operational databases </li></ul></ul><ul><ul><li>Scanner data </li></ul></ul>
    6. 6. What Might Prosper? <ul><li>Qualitative </li></ul><ul><ul><li>Online will grow, but so will ‘real’ qualitative such as ethnographic techniques </li></ul></ul><ul><li>New Product Development </li></ul><ul><li>Branded products – Analytical framework </li></ul><ul><li>Brand Strategy </li></ul><ul><li>Massive Access Panels: people exchanging their IDs for incentives such as: </li></ul><ul><ul><li>free telephony </li></ul></ul><ul><ul><li>free TV channels </li></ul></ul><ul><ul><li>free videos </li></ul></ul><ul><ul><li>purchasing points </li></ul></ul><ul><li>Cash </li></ul><ul><li>Online qualitative research – International </li></ul><ul><li>Database linked research </li></ul><ul><li>Longitudinal research </li></ul>
    7. 7. What Might Decline? <ul><li>Face to face interviewing </li></ul><ul><ul><li>Those that are left may well be WAP enabled </li></ul></ul><ul><li>Telephone interviewing </li></ul><ul><ul><li>perhaps moving into customer care </li></ul></ul><ul><li>Customer satisfaction </li></ul><ul><ul><li>But not necessarily strategic products </li></ul></ul><ul><li>Purchase panels </li></ul><ul><li>Segmentation studies </li></ul><ul><ul><li>move towards 1-to-1 relationships & profile building </li></ul></ul><ul><li>Online: Pop-up interviews & surveys </li></ul><ul><ul><li>people will increasingly resent being bothered with requests for interviews and browsers will help them avoid the bother </li></ul></ul><ul><ul><li>Yahoo does not permit them, even for their own research </li></ul></ul>
    8. 8. Who Might Drive It? <ul><li>Marketing Research Companies </li></ul><ul><ul><li>Developing expertise in all approaches – through mergers & acquisitions. </li></ul></ul><ul><ul><li>Commoditising of basic MR techniques </li></ul></ul><ul><ul><li>Value added in branded MR, integration & interpretation </li></ul></ul><ul><li>Software/IS companies </li></ul><ul><ul><li>those driving the technology and its implementation </li></ul></ul><ul><li>Client companies </li></ul><ul><ul><li>setting up ‘Customer Insight’ & ‘Marketing Intelligence’ functions </li></ul></ul><ul><li>Management Consultants </li></ul><ul><ul><li>with ability to supply differentiation in strategic marketing direction </li></ul></ul><ul><ul><li>pull in support from whatever source </li></ul></ul>
    9. 9. Future Insights <ul><li>“ Our company does not even use the word market research any more, we speak of strategic marketing intelligence ” </li></ul><ul><li>David Smith, Chairman (Incepta Marketing Intelligence) </li></ul><ul><li>“ I’m looking forward to working with researchers who are able to synthesise not just the data of their own surveys, but also that of a variety of sources . This could be anything: from hard data and other databases, to anecdotal information. That is a skill that requires the ability to generalise from a great deal of information . You could call it ‘reading between the lines.’ Subjective skills, but ultimately based on very hard research data. Not easy to learn”. </li></ul><ul><li>Frederic John ( MasterCard) </li></ul><ul><li>“ System evolution in an era of data, skill and insight integration” Dr. Page-Thomas </li></ul>
    10. 10. The World is Your Oyster! <ul><li>“ When it comes to the future, there are three kinds of people: </li></ul><ul><li>those who let it happen, </li></ul><ul><li>those who make it happen, and </li></ul><ul><li>those who wonder what happened” </li></ul><ul><li>John M. Richardson Jr. </li></ul>
    11. 11. Summary Slide <ul><li>Turnover & Growth Rates </li></ul><ul><li>Factors Shaping the Research Industry </li></ul><ul><li>Advantages & Disadvantages of Approaches </li></ul><ul><li>Market Information </li></ul><ul><li>The Power of Web Analytics </li></ul><ul><li>What Will Prosper? </li></ul><ul><li>What Will Decline? </li></ul><ul><li>Who will drive it? </li></ul><ul><li>Future Insights </li></ul>
    12. 12. The content of this work is of shared interest between the author, Kelly Page and other parties who have contributed and/or provided support for the generation of the content detailed within. This work is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 2.0 UK: England & Wales. Kelly Page (cc)