Introduction to and overview of marketing research from which you will learn to: 1.) Identify the reason for doing marketing research and describe the five-step marketing research approach leading to marketing actions; 2.) Describe how secondary and primary data are used in marketing, including the uses of questionnaires, observations, experiments, and panels; 3.) Explain how information technology and data mining link massive amounts of marketing information to meaningful marketing actions.
Introduction to and overview of marketing research from which you will learn to: 1.) Identify the reason for doing marketing research and describe the five-step marketing research approach leading to marketing actions; 2.) Describe how secondary and primary data are used in marketing, including the uses of questionnaires, observations, experiments, and panels; 3.) Explain how information technology and data mining link massive amounts of marketing information to meaningful marketing actions.
A clear differentiation between Qualitative and Quantitative Market Research explaining their pros and cons and their methodology to achieve desired results in marketing research. It is the modern technique used by most marketing firms in the business world.
Slides from my lecture in a Marketing Management course at Linköping University (2nd year students). The course-book was Kotler's Principles of Marketing so I covered the concepts defined in the chapter. Basic facts on qualitative and quantitative research methods were presented: interviews, surveys, ethnography and netnography, case studies, focus groups, and experiments. I also discussed how the Internet and social media have improved the quantity and quality of data available on customer behavior.
Presentation made for students of Garware Institute, Kalina - PG Dip in Advertising and Media.
An overview of what is Market Research with different types of research. How they are useful,
Market research known as the process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service. But what about marketing research, and what is the difference between them and which one do I need in my business.
That's all would be in our presentation, we hope you all like it and find it interesting.
Misconception about Market research decision.
Cost-Conscious Market Research. Market research decision.
This PPT has two cases which eliminate the misconception by the manager while taking decision of market research
A clear differentiation between Qualitative and Quantitative Market Research explaining their pros and cons and their methodology to achieve desired results in marketing research. It is the modern technique used by most marketing firms in the business world.
Slides from my lecture in a Marketing Management course at Linköping University (2nd year students). The course-book was Kotler's Principles of Marketing so I covered the concepts defined in the chapter. Basic facts on qualitative and quantitative research methods were presented: interviews, surveys, ethnography and netnography, case studies, focus groups, and experiments. I also discussed how the Internet and social media have improved the quantity and quality of data available on customer behavior.
Presentation made for students of Garware Institute, Kalina - PG Dip in Advertising and Media.
An overview of what is Market Research with different types of research. How they are useful,
Market research known as the process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service. But what about marketing research, and what is the difference between them and which one do I need in my business.
That's all would be in our presentation, we hope you all like it and find it interesting.
Misconception about Market research decision.
Cost-Conscious Market Research. Market research decision.
This PPT has two cases which eliminate the misconception by the manager while taking decision of market research
Presentation made for a lecture that I gave at ITM Mumbai. Marketing Research was an elective subject for the students and this is an overview of the subject
Chapter 2
The New Products Process
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The Procter & Gamble Cosmetics SagaStarting point: senior management commitment to new products.P&G’s Cosmetics business unit had no clear product strategy, unfocused product initiatives, and too many customer segments being targeted – in short, a lack of focus.P&G Cosmetics skillfully used all three strategic elements and made the weak business unit profitable.
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P&G Cosmetics and the PICSituation Assessment:Underserved consumer market that wanted quality facial product such as cleansers, eye products, etc.Supply chain was uncoordinated as production and shipments were not tied to demand; market forecasts were not driving shipping schedules.PIC recommended a strategic focus on products for the face – other opportunities would not be pursued.
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P&G Cosmetics and the New Products ProcessP&G Cosmetics used a phased process like that of Chapter 1.Project teams established early in process.Consumer research done early and used in the process (the voice of the customer).Tough evaluation steps were carefully implemented as new products were compared to best practices and benchmarks.
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P&G Cosmetics and the New Product PortfolioP&G Cosmetics systematically added new products such that maximum buzz and excitement was created in the marketplace.If already several eye makeup products on the market, they would not immediately launch another. Management called this an “initiative rhythm” for product launch.
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P&G Cosmetics and the Role of Effective Team ManagementSenior Cosmetics executives were committed to success as was corporate level management.Initiative Success Managers were hired to lead strategy development, manage evaluation meetings, train employees, etc.The best team leaders were sought and rewarded based on performance.
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The Phases of the New Products Process
Phase 1: Opportunity Identification/Selection
Phase 2: Concept Generation
Phase 3: Concept/Project Evaluation
Phase 4: Development
Phase 5: Launch
Figure 2.1
The Evaluation Tasks in the New Products Process
Figure 2.2
Opportunity Identification/
Selection
Concept Generation
Concept/Project Evaluation
Development
Launch
Direction;
Where should we look?
Initial Review:
Is the idea worth screening?
Full Screen:
Should we try to develop it?
Progress Reports:
Have we developed it?
Market Testing:
Should we market it?
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Phase 1: Opportunity Identification/Selection
Active and passive generation of new product opportunities as spinouts of the ongoing business operation. New product suggestions, changes in marketing plan, resource changes, and new needs/wants in the marketplace. Research, evaluate, validate, and rank them (as opportunities, not specific product concepts). Give major ones a preliminary strategic statement to guide further work on it.
*
Activities that Feed Strategic Planning for New ProductsOngoing marketing planning (e.g., need to meet new aggressive competitor)Ongoing corporate plan ...
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
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1. Part 2: Capturing Market Insights > The Marketing Research System > The Marketing Research Process > QUIZ for Part 1 (Session 1 – 3) Class Presentation | Session 5 | 30 Aug 2010
2. The Marketing Research SystemConcept Marketing Research: the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company Marketing Research firms: Syndicated-service research firmsGather information/data and sell it as research reports Custom marketing research firmsEngaged to carry-out specific projects. They design the study and then report the findings Specialty-line marketing research firmsSpecialized services within Marketing research e.g. online survey execution/management, field interviews etc. MG 220 Marketing Management 2
4. The Marketing Research ProcessStep 1: Define the Problem and Research objectives Marketing Management defines the problem Not too broad What features should be in our new blackberry model Not too narrow Should the internet connectivity be through 3G if we increase plan price by 45% Balanced, well-thought and result-oriented What should be enhancements in camera, internet and messenger services compared to existing blackberry MG 220 Marketing Management 4
5. The Marketing Research ProcessStep 2: Develop the Research plan Most efficient plan for gathering information Decisions for: Data sources Research Approaches Research Instruments Sampling Plan Contact Methods MG 220 Marketing Management 5
6. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.) Decisions for: Data sources Secondary data – collected for another purpose Readily available | Good starting point | Low cost Research from past models | competitor analysis Primary data – specifically for this project Focus of Main research | critical information Needs to be designed completely based on given problem MG 220 Marketing Management 6
7. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.) Decisions for: Research Approaches Observational Research Unobtrusive observing of customers(video/voice recorder at service desk selling Blackberry) Focus Group Research Gathering of consumers for discussing the problem. Carefully selected and observed (existing customers of blackberry services can be invited) Survey Research Learning more about consumers. Mass activity(A survey among existing blackberry users) Behavioral data Purchasing behavior data or usage data or preference data(Data from datacenters showing what is usage of different functions) Experimental Research A small activity emulating real product/service and getting feedback(Few prototypes given to selected consumers and their behavior/feedback is observed) MG 220 Marketing Management 7
8. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.) Decisions for: Research Instruments Questionnaires A set of questions | carefully developed and tested before circulation Closed-end questions: MCQs | Open-ended questions: descriptive(A questionnaire developed for users) Qualitative measures Qualitative analysis of consumers’ behaviors, activities and interpretation. May involve psychological tests related to product and their reactions. Possible only for very small group (observe consumers using phones) Mechanical devices Devices (galvanometers, eye cameras) to observe user’s reaction on exposed to product(view user’s experience on seeing a prototype) MG 220 Marketing Management 8
9. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.) Decisions for: Sampling Plan Sampling Unit Who is to be surveyed Based on product, problem etc. decision about who is going to form sample(High-end users, corporate clients, access to data networks) Sample size How many people to be surveyed Again based on requirements, budget etc. General rule: Larger sample => better results(e.g. Total Blackberry user base in Pakistan: 100,000, Sample: 1,000) Sampling Procedure How respondents shall be chosen Probability sampling (simple random, stratified random, cluster sample) Non-probability sampling (Convenience, judgment, quota)(convenience and judgment sampling for blackberry users) MG 220 Marketing Management 9
10. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.) Decisions for: Contact Methods Mail Questionnaire Access to people who cannot or do not want to be interviewed Simple questionnaire is to be used Very low response rate(send a questionnaire to existing user with monthly invoice) Telephonic interview Quick and convenient. Questions might be clarified easily Response rate is good | but cannot be too long or personalized(e.g. make a call to 500 of Blackberry users and take 1-2minutes interview) Personal interview Most versatile and elaborate method Most expensive and requires lot of administrative work Arranged (meeting) | Intercept (in malls etc)(Interviewing at service centers when use r is there for some other purpose) Online interview Efficient and highly used inexpensive | faster | More ‘honesty’ | Versatile using technology Small and skewed sample | technological problems(Use online advertising or even website to request a survey) MG 220 Marketing Management 10
11. The Marketing Research ProcessStep 3: Collect the information This is the execution of Step 2 Most expensive and most prone to error Errors can be: Respondents not available. Need to re-engage (typical for high-end clients) Respondents refuse to cooperate (typical for high-end clients) Give dishonest or biased answers (biased because of very recent experience) Interviewers can be biased or dishonest (just filling false information) Still: Getting the right respondents is critical MG 220 Marketing Management 11
12. The Marketing Research ProcessStep 4: Analyze the information Data tabulation Frequency distributions Statistical analysis Discover! MG 220 Marketing Management 12
13. The Marketing Research ProcessStep 5: Present the Findings Researchers’ findings Related to management’s defined problem Irrelevant information not required (Give a finding of what features are wanted by what kind of customers-users, new users, age-wise etc.) MG 220 Marketing Management 13
14. The Marketing Research ProcessStep 6: Make the Decision Management’s task Based on what researcher has provided (Marketing and Product Development team takes the final decision based on available results and information) MG 220 Marketing Management 14
15. The Marketing Research ProcessOvercoming barriers to use of Marketing Research Narrow conception of research Uneven (or even low) caliber of researchers Poor farming of the problem Late and occasionally erroneous findings Personality and presentational differences MG 220 Marketing Management 15
16. QUIZ # 1 | 30 Aug 2010 Related to Part 1 (Chapter 1 & 2) Time: 20 Mins MG 220 Marketing Management 16
17. AssignmentPart 2 & 3 of 4 Part 2: SWOT Analysis: From existing data available through different sources what do you think are S, W, O & Ts for your brand. Your own analysis is required. Part 3: Assessing Growth Opportunities: Assume you are tasked with finding out different ways to improve profitability of your brand (or even its parent organization). Which of the approaches would you consider and how would you carry out your planned activity? Why would you choose the ones you selected? ALTERNATE: You may analyze the above as might have been carried out by the organization in the past. What they did? What particular options it represented referring to your text? Max. one-page length for each part, typed Due: Thu, Sep 2, 2010 MG 220 Marketing Management 17
18. AssignmentPart 4 of 4 Part 4: Market Research for your brand: You are supposed to launch a product extension or new feature related to your brand. You intend to undertake marketing research yourself. Please state your research objective (step 1 of market research process) and create a complete research plan (step 2 of market research process). Give rationalities for your selections in plan. Follow guidelines/template for the market research process as given in text. Max. one-page length, typed Due: Mon, Sep 6, 2010 MG 220 Marketing Management 18
19. Part 2: Capturing Market Insights > Measuring Marketing Productivity > Forecasting and Demand Measurement Class Presentation | Session 6 | 2 Sep 2010