Market Research (Lakeridge)

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Marketing Research Basics for Lakeridge HS Marketing Class. December 17

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Market Research (Lakeridge)

  1. 1. Market Research <ul><li>Kelli Matthews </li></ul><ul><li>Consultant </li></ul><ul><li>[email_address] </li></ul><ul><li>Verve Northwest Communications </li></ul>
  2. 2. <ul><li>Spiderman 2 </li></ul><ul><li>Tough Love </li></ul><ul><li>Shoeless Joe </li></ul><ul><li>3000 </li></ul>
  3. 3. Shoeless Joe...
  4. 4. Tough Love...
  5. 5. 3000...
  6. 6. Test Screening <ul><li>300 - 400 people </li></ul><ul><li>Recruited to see a “sneak preview” </li></ul><ul><li>Fill out an exhaustive survey about: </li></ul><ul><ul><li>Film, title, plot, characters, music and marketing program material </li></ul></ul>
  7. 7. Think About... <ul><li>Whom would you recruit for a movie test screening? </li></ul><ul><li>What questions would you ask to help your edit or modify the title or other aspects of the film? </li></ul>
  8. 8. Questions <ul><li>Before </li></ul><ul><ul><li>how old are you? </li></ul></ul><ul><ul><li>how often do you pay to see movies? </li></ul></ul><ul><li>After </li></ul>
  9. 9. What is it? <ul><li>Used to: </li></ul><ul><li>Identify & define marketing opportunities </li></ul><ul><li>Generate, refine & evaluate marketing opportunities </li></ul><ul><li>Improve understanding of marketing process </li></ul><ul><li>Marketing research: </li></ul><ul><li>Specifies the info required to answer research questions </li></ul><ul><li>Determine best way to collect data </li></ul><ul><li>Collect the data </li></ul><ul><li>Analyze the results </li></ul><ul><li>Communicates the findings and recommendations </li></ul>
  10. 10. Answer Questions Like: <ul><li>Planning: </li></ul><ul><li>What kids of people buy our products?Where do they live? How much do they earn? How many are there? </li></ul><ul><li>Are the markets for our products increasing or decreasing? Are there new markets that we haven’t reached (and should)? </li></ul><ul><li>Problem Solving: </li></ul><ul><li>[product] Which product design is likely to be the most successful? </li></ul><ul><li>[product] What kind of packaging should we use? </li></ul><ul><li>[price] What price should we charge for our products </li></ul><ul><li>[place] Where, and by whom, should our products be sold? </li></ul><ul><li>[promotion] What combination of media - newspapers, radio, television, magazines - should we use? </li></ul>
  11. 11. Why is it important? <ul><li>Seek knowledge </li></ul><ul><li>Understand your audience </li></ul>
  12. 12. Types of Research <ul><li>Primary v. Secondary </li></ul><ul><li>Qualitative v. Quantitative </li></ul>
  13. 13. <ul><li>Demographics: </li></ul><ul><li>Age </li></ul><ul><li>Gender </li></ul><ul><li>Income </li></ul><ul><li>Education </li></ul><ul><li>Race </li></ul><ul><li>Home Ownership </li></ul><ul><li>Family Size </li></ul>Market Segmentation Psychographics: Activities Interest Opinions Other Segmentations: Benefits Economic International
  14. 14. <ul><li>Small group conversation </li></ul><ul><li>Interaction </li></ul><ul><li>Dynamics </li></ul><ul><li>Good questions </li></ul>About Focus Groups

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