Exciting marketing research notes


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Exciting marketing research notes

  1. 1. Marketing research defined“The systematic collection ofinformation on existing orpotential markets for analysis andsubsequent action”
  2. 2. Why do we need marketing research
  3. 3. • Make the right choice• Deliver the best to your customer • Minimise risk • Maximise your profits
  4. 4. British airways. Service rethinking• Research conclusions. Business customers don’t care about the service on board - just want to sleep• Marketing decision: Option of having dinner at the airport and a possibility to sleep on board• Result: British Airways is one of the leading airlines in world
  5. 5. Dove. Product repositioning• Research conclusions. Most women are not happy to watch only young and perfect bodies in advertising• Marketing decision: To alter the typical advertising cliché.• Result: Cannes Lions award
  6. 6. Marketing research = Market Consumer research research
  7. 7. Market research case• A french manufacturer of sausissons “Le Parisien” is looking to develop its foreign operations and head for Asia. Asian markets are booming and at a first glance Indonesia sounds like a good idea to begin with.• What kind of information about the indonesian market “Le Parisien” should be looking for.
  8. 8. • Market research Market research –Market size –Market segments and their share –Market and segment leaders and their positions –Competition: Brands and their positions, Variety –Prices, distribution channels –Trends
  9. 9. Your sources of information• Government statistics institutions• Trade associations• Internet• Research companies• Wherever you can!
  10. 10. Market size
  11. 11. Market sizeMarket Volume ofsize = product consumed x Price ?
  12. 12. Market sizeVolume ofproductconsumed = Production + Import - Export
  13. 13. Market potential Potential market capacity Current market capacity
  14. 14. Market size potentialVolume of Number of Consumptionproductconsumed = consumers х standards Raise awareness Raise your customer
  15. 15. Market size potentialConsumption Standard usestandards = Frequency х (1 serving) Communicating different Forming consumption consumption situations standards
  16. 16. Market capacity potentialVolume ofproduct = + Initial Additional purchase purchase +Repeat purchaseconsumed Raise awareness Product range CRM Stimulate trial Accompanying Discounts Free samples products or New products Welcome bonuses service Product Give money modernisation
  17. 17. Where to start
  18. 18. “If you don’t know where you are going,It doesn’t matter which route you take” The Cheshire cat
  19. 19. Points to considerObjectives • What do you need to know?Method • How best you will get the results?Sample • From who?Analysis • What will you do with the information?Resources • Budget, etc/
  20. 20. Objectives• Be specific and precise “A well described problem is half of the problem solved”• Keep the objective simple• Be honest with yourself • Examples:• Why the sales of product X are low?• Why people buy product X? What do they like about it? What the don’t like?• Why people don’t buy? What they don’t like in it? What product do they buy? If they bought it previously why did they stop (very valuable information)
  21. 21. MARKETING RESEARCH plays 3 functional roles: – Descriptive function (presenting facts about something. E.g. what is the historic sales trend in the industry? What are the consumers’ attitudes toward a product and its advertising?) – Diagnostic function (where data is explained, e.g. What was the impact on sales when we changed the design of package?) – Predictive function (How can we best take advantage of opportunities as they arise in the ever-changing marketplace?)
  22. 22. MethodsDepends on the objectives and budget• Qualitative research• Quantitative research• Monitoring• Experiments • Examples:• A focus group is a qualitative method• A hall-test is a qualitativequantitative method• Survey research – qualitative method
  23. 23. • Secondary research • Primary research
  24. 24. Sample• Depends on the method of research• Influences budget• Much smaller in qualitative research, bigger in quantitative research • Examples:• A focus group would typically consist of 8-12 people• A hall-test – 100-150 people• A survey – 100-500 people
  25. 25. Analysis• Depends on the type of research and research objectives • Examples:• Focus groups – you have the scripts of what people said and conclusions+recommendations• A survey result would be numbers – averages, numerical conclusions
  27. 27. • Qualitative researchBla, bla bla
  28. 28. Qualitative research• Used to describe attitudes, feelings and motivations, good to generate hypotheses• Is unstructured• Is not subject to quantification • Examples:• Why do you like this milk?• How does this advertising make you feel?• What the word “fashion” means to you?
  29. 29. Quantitative researchHow manyfingers do you see?
  30. 30. Quantitative research• Used to describe facts, preferences, prove hypotheses• Provides digital data• Is subject to statistic analysis • Examples:• How often do you go food shopping?• How many times a day do you drink tea?• Do you agree that coffee is not good for you?
  31. 31. • Dyhotomous questions. Do you eat meat?• Example: Yes/No• Likert scale. Is this a good movie?• Example: Strongly agree-agree-neither agree nor disagree-somewhat disagree-Strongly disagree• Rating questions.• Example: Rate from 1 to 10 how you much you are satisfied with the weather today?• Where 1 very satisfied, 10 very unsatisfied• Multiple-choice questions. Which brands do you use?• Example: a) Timotei, b) Pantene, c) Clear.• Open-ended questions• Example: Why you don’t like this type of juice?
  32. 32. Most often type of research• Consumer insightsConsumer satisfaction research• Productbrand research• Advertising research
  33. 33. Focus groups
  34. 34. Most often used methods• Hall tests• Interviews• Mystery shopping• Consumer panel• Retail audit Interview
  35. 35. Consumer panel
  36. 36. Hall-test
  37. 37. Mystery shopping
  38. 38. And who can doall the research for me? Researchcompanies
  39. 39. Client and agency• Filter the agencies and choose the most appropriate • Receive the brief, and suggest the most• Fill in the research brief with appropriate methods to the objectives research objectives. Discuss• Analyse the commercial offer with client . – the research methods, • Design sample configuration, budget screener/questionnare/gui• Give feedback to the deline. questionnaire, guide, • Find the resources: incentives, etc. interviewers/moderators• Control the research “in the • Recruite respondents field” • Present results• Get the results
  40. 40. Tips and tricksI swear I’mtelling you the truth
  41. 41. vs.PepsiCoke
  42. 42. Tips and tricks for you• Try 4) Ask the right3) Always questionsdo a pilot test