Download Marketing Research - BEAN

Nature and Scope of Marketing Research
‘Marketing Research’
Aaker, Kumar, Day
9th Edition
Presentation Slides
Business Intelligence Areas
Business Intelligence
Financial
Management
Marketing Research
Primary sources
Prospects
Secondary sources
Customers
Marketing
Accounting
…
Customer Relationship Marketing/Database Marketing
Standardized Sources
Competition
Products/Markets
Market Intelligence VS Marketing Intelligence
Market Intelligence
The process of acquiring and analyzing
information in order to understand the market
(existing and potential customers); to
determine the current and future needs
and preferences, attitudes and behavior of
the market; and to access exchanges in the
business environment that may affect the size
and nature of the market in the future
Marketing Intelligence
The ability to fully understand, analyze and
assess the internal and external environment
related to a company’s customers,
competitors, markets and industry to
enhance the decision making-process.
This would require the integration of
competitive intelligence, marketing research,
market analysis, and business and financial
analysis information.
Why do we need Marketing Intelligence?
• Customer Satisfaction
• Competitiveness
• Business Achievement
• Uncertainty
Domains of Marketing Intelligence
• Product decisions
• Customer segmentation decisions
• Brand and pricing decisions
• Keeping stakeholders happy
• Market estimation, competitive benchmarking, and distribution
Marketing Planning Process
Situation Analysis
Strategy Development
Marketing Program Development
Implementation
Control and Monitoring
-Understand the environment and the market
- Identify threats and opportunities
- Assess the competitive position
-Define the business scope and served market segments
-Establish competitive advantages
-Set performance objectives
-Product and channel decisions
-Communication decisions
-Pricing
-Personal selling decision
-Performance monitoring
-Refining strategies and program
Factors influencing Marketing Research Decision
• Relevance
• Type and nature of information sought
• Timing
• Availability of resources
• Cost-Benefit analysis
Marketing Research Goal
Programmatic Research
To develop marketing options through:
-Market segmentation
-Market opportunities analysis
-Consumer attitude
-Product usage studies
Selective Research
To test different decision alternative:
-New product concept testing
-Advertising copy testing
-Pretest marketing
-Test marketing
Evaluative Research
To evaluate performance of program:
-Tracking advertising recall
-Cooperate and brand image studies
-Measuring customer satisfaction
Information System
Day-to-day
Intelligence for
future strategies
Research studies
Decision Support Systems
Decision Making
Information Sources
Information Supplier
Internal Supplier
External Supplier
Accountant Report
Customized Services
Fiscal Report
Syndicated Services
…
Standardized Services
Field Services
If there is no systematic, it’s
take a lot of time to find needed
information to make a decision.
Selective Services
Branded Product Services
The Marketing Research Process
Marketing Planning and Information System
Agree on Research Process
Planning
Establish Research Objectives
-Research questions
-Hypotheses
-Boundaries if study
Estimate the value of information
No
Yes
Design
Implementation
-Problems or Opportunities
-Decision alternatives
-Research users
Design the research
-Choose among alternative research approaches
-Specify the sampling plan
-Design the Experiment
-Design the questionnaires
Collect the data
Prepare and analyze the data
Report the research results and provide strategic recommendations
Control and Monitoring
Research Design
Exploratory
To seek insights into the general nature of a
problem, the possible decision alternatives, and
relevant variables that need to be considered
Descriptive
To provide an accurate snapshot of some aspect
of the market environment
Casual
To show that one variable causes or determines
the values of other variable
Research Types
Choice of
Data Collection
Research Tactics
-2nd data
-Qualitative or Quantitative
-Surveys
-Experiments
Data Collection and Analysis
Compare Cost & Timing Estimates
Content of Proposal
• Executive summary
• Research purpose and objective
• Research design
• Time and cost estimates
• Appendixes
Qualitative Analysis
• To obtain a basic feel for the problem before
proceeding to the more analytical portion of the study
• To find out what is in a consumer’s mind and
perspective
• To know more about things that cannot be directly
observed and measurement such as feeling, thoughts,
intentions, behavior
• To get insight into the reality of the consumer perspective
and to suggest hypotheses for further research
More flexible, Depth, Richness of Context,
Potential for new insights and perspective
Qualitative Analysis
Individual In-Dept
Interviews
Focus-group Discussions
To interview face-to-face with the
respondent
To obtain possible ideas or solutions to
a marketing problem from a group of
respondents by discussing it
Projective Techniques
Observation
To provide information on current
behavior
Focus-group Types
1.
Exploratory Focus Group – defining the problem precisely
2.
Clinical Focus Group – scientific endeavor
3.
Experiencing Focus Group - emotional framework
+ More stimulation, Make new ideas, Meaningful comments
more likely
- Non representative of population, Unclear, Fallowing group
Focus-group
Projective Techniques
1.
Word association
2.
Completion tests
3.
Picture interpretation
4.
Third-person technique
5.
Role playing
6.
Case studies