Marketing Research

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traditional data collection methods- relevant and used today: focus groups, mystery shopping, computer aided telephone interviewing
definition of marketing research- AMA: the function that links an organization to its market through the gathering of information. this information facilitates the identification and definition of market-driven opportunities and problems as well as the development and evaluation of marketing actions. enables the monitoring of marketing performance and improved understanding of marketing as a business process.
how do organizations use marketing research: identify new product opportunities, develop advertising strategies and implement new data gathering methods to better understand customers
What type of process is marketing research, explain.: systematic. -designing methods for collecting info -managing the information collection process -analyzing and interpreting results -communicating findings to decision makers
decisions of a marketing manager: -decide which new markets to penetrate -which products to introduce -which new business opportunities to pursue -broad decisions -must have accurate info to make right decisions
marketing planning process: a series of decisions that must be made with high levels of confidence about the outcome -illustrates the relationship between market planning and marketing research.
purpose of situation analysis: to monitor mktg programs and determine whether changes are necessary. includes 3 decision areas: -market analysis, market segmentation, competition analysis
when conducting a situation analysis, marketing research should...: 1. locate and identify new market opportunities for a company (opportunity assessment) 2. identify groups of customers in a product/market who possess similar needs, characteristics and preferences (benefit, lifestyle & descriptive studies) 3. identify existing and potential competitors strengths and weaknesses (importance performance analysis)
the research task related to market analysis is Opportunity Assessment... define: it involves collecting market information to forecast changes. companies gather info relevant to macroenvironmental trends (political, economic, social, cultural, etc) and assess how those trends will influence the product market.
mktg researchers 3 common approaches in the collection of macroenvironmental info:: 1. content analysis: analyze trade publications, newspaper, articles, web sites, or computer data bases for info on trends in a given industry 2. in depth interviews: conduct formal , structured interviews with experts in a given field 3. formal rating procedures: use structured questionnaires to gather info on environmental occurrences.
Market Segmentation: the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups ( EX: harley shopper= middle aged, college educated, avg income $75,000)
competitive analysis: A process for monitoring the competition that involves identifying competition, anticipating their moves, and determining their strengths and weaknesses
importance-performance analysis: a research approach for evaluating competitors' strategies, strengths, limitations, and future plans. -asks consumers to identify key attributes that drive their purchase behavior (price, product performance, product quality, accuracy of shipping, convenience of location. then asked to rank attributes. then researchers evaluate competition.
marketing strategy design: Information collected during the situation analysis is used to design a marketing strategy. --at this stage companies identify target mkts, develop positioning strategies for products and brands, test new products, and assess market potential.
target market analysis: provides useful information for identifying people (or companies) an organization wants to serve. It also helps management determine the most efficient way of serving the targeted group. rovides information on these issues; New product Opportunities, Demographics (including attitudinal or behavioral characteristics), User Profiles, Usage Patterns, attitudes, and the effectiveness of a firm's current marketing program
positioning: a process in which a company seeks to est. a meaning or general definition of its product offering that is consistent with customers' needs and preferences. aka perceptual mapping companies position their products by combining elements of the mktg mix in a manner that meets of exceeds the expectations of targeted customers. (EX: surveys consumers to determine how they view the similarities and dissimilarities among relevant product attributes for a set of competing brands)
perceptual maps: consumers are asked to indicate how they view the similarities and dissimilaries among relevant product attricbutes for competing brands or. more directly to indecate which brands are similare to each other. info then used to create perceptual maps that transform the positioning date in to a picture of graph that shows how brands are viewed relative to one another. reflects criteria customers use to evaluate brands
new-product planning: concept and product testing or test marketing
test marketing: collecting research info for decisions on product improvements and new product introductions
product testing attemps to answer 2 fundamental questions: 1. how does a product perform for the customer? 2. how can a product be improved to exceed customer expectations? -not only meet but exceed expectations
mktg research: is the function that links an organization to its market through the gathering of information (Data!)
Tasks in the Marketing Research Process: Designing methods for collecting data Managing the information collection process Analyzing and interpreting results Communicating findings to decision makers
new data collections techniques: twitter (tweet feel) facebook linked in
Positioning: Refers to perception of company versus competition in mind of consumer
Information Research Process: The information research process is the systematic task of gathering, analyzing, interpreting, and transforming of data into decision-making information.
Primary Research Is Not Always Necessary: Information already available Insufficient time frames Inadequate resources Costs outweigh value
Phases of the Research Process: Phase I Determine the Research Problem Phase II Select Appropriate Research Design Phase III Execute the Research Design Phase IV Communicate the Research Results
Scientific Method: logical objective systematic reliable valid
the iceberg principle: decision maker: unhappy customers, decreased market share, loss of sales, low traffic, *obvious measurable systems* researcher: marginal performance of sales force, inappropriate delivery of system, unethical treatment of customers, low quality products, poor image, *real business/decision problems*
Define the Research Problem and Questions: initial research questions > refined research questions
step 4: determine the research design: exploratory research descriptive research casual research
What is a Literature Review/Secondary Data Analysis?: A literature review is a comprehensive examination of available information that is related to your research topic
Assessing Quality of Secondary Data: purpose accuracy consistency credibility methodology bias
Conceptualization: Conceptualization refers to the development of a model that shows variables and hypothesized or proposed relationships between variables
Hypotheses: A hypothesis is an empirically testable though yet unproven statement developed in order to explain phenomena
marketing program development: the information requirements for marketing program development involve all of the components of the marketing mix: product, distribution (place), price, and promotion (integrated marketing communications or IMC). Success relies heavily on synergy.
product portfolio analysis: total product line typically is the focal point -help mgrs make decisions about reducing costs, altering mktg mixes, and changing or deleting lines
what does attitude information enable mgmt to do?: make decisions regarding product or brand repositioning, new -product introductions, new market segments, and the deletion of unsuccessful products.
cycle-time research: Research method that centers on reducing the time between the initial contact and final delivery (or installation of the product).
distribution decisions: involve distributers and retailers that link producers with end users. distribution channel can influence a buyers perception of the brand ex. rolex: limited # of retailers.
retailing research: studies on retailing topics such as trade area, analysis, store image/perception, in-store traffic patterns and location analyses -info needs of retailers are unique -focuses on database development through optical scanning procedures. ex: online... what they buy, sites visited, abandoned shopping carts, etc.
pricing decisions: involve pricing new products, est price levels in test market situations and modifying prices for existing products.
mktg research provides answers to the following questions: 1. how large is the demand potential within the target market? 2. how sensitive is demand to changes in price levels 3. what non price factors are important to customers 4. what are sales forecasts at various price levels
integrated mktg communications: -billions of dollars -google search, online video, social media -must consider the entire program
3 most common research tasks of integrated marketing communications: advertising effectiveness studies, attitudinal research, and sales tracking
executive dashboard: An intranet for a select group of managers who are the main decision makers in the company. -purpose to give mgrs a current snapshot of their business -key component of info sharing and increase the likelihood of successful customer relationship management programs.
describe the impact marketing has on marketing decision making: mktg research is the set of activities central to all mktg-related decisions regardless of the complexity or focus of the decision. mktg research is responsible for providing managers with accurate, relevant, and timely information so that they can make mktg decisions with a high degree of confidence. within the context of strategic planning, mktg research is responsible for the tasks, methods, and procedures a firm will use to implement and direct its strategic plan.
demonstrate how marketing research fits into the marketing planning process: the key to successful planning is accurate into. info related to mktg strategy, mktg program development, distribution, and integrated mktg communication. the primary responsibility of any mktg research project is to design a study that provides the most accurate info possible to develop a mktg plan.
provide examples of mktg research studies: the scope of mktg research activities extends far beyond exams of customer characteristics. the major categoreies include 1. situation research efforts 2. mktg strategy design 3. mktg program development research
understand the scope and focus of the marketing research industry: projects can be conducted either internally by an in-house marketing staff or externally bu independent MR firms. external research suppliers are normally classified as custom or standardized, or as brokers or facilitators.
recognize ethical issues associated with MR: ethical decision making is a challenge in all industries. including MR. ethical issues in MR occur for the research info provider, and the selected respondents. specific unethical practices among research proivders include unethical business practices, conducting research below standards, respondent abuse, internet privacy. promising more business that never materializes to secure low-cost research services. exaggerating research finds.dishonest answers. fake behavior
discuss new skills and emerging trends in MR: technological changes -necessary skills to adapt to these changes include 1. ability to understand and interpret secondary data 2. presentation skills 3. foreign language competency 4. negotiation skills 5. computer proficiency
secondary data: info previously collected for some other problem or use
primary data: info collected for a current research problem or opportunity
gatekeeper technologies: technologies such as Caller ID that are used to prevent intrusive mktg practices such as by telemarketers and illegal scam artists
information research process: a systematic approach to collecting, analyzing, interpreting, and transforming data into decision making information.
scientific method: research procedures should be logical, objective, systematic, reliable , and valid
knowledge: info becomes knowledge when someone either the researcher or the decision maker, interprets the date and attaches meaning
situation analysis: gathers and synthesizes background info to familiarize the researcher with the overall complexity of the problem
unit of analysis: specifies whether the data should be collected about individuals, households, organizations, depts, geographical areas, or some combo.
exploratory research: generates insight that will help define problem situation confronting the researcher or improves the understanding of consumer motivations, attitudes, and behavior that are not easy to access using other research methods
descriptive research: collects quantitative data to answer research q's such as who what where when and how
causal research: collects data that enables decision makers to determine cause-and-effect relationships between two or more variables.
target population: the populations from which the researcher wants to collect data
census: researchers attempts to Q or observe all the members of a defined target pop.
sample: a small # of members of the target pop. from which the researcher collects data.
research proposal: a specific document that provides an overview of the proposed research and methodology, and serves as a written contract between the decision maker and the researcher.
What are marketing researchers focused on?: ...
what are management decision makers focused ?: -market performance -sensitive to the cost of obtaining additional information
want to do a market study for launching a new product, but it takes 3 months. competitor about to launch new product... she decides to cancel, and launch immeadiatly. the reason for not conducting the survey is..?: time constraints associated with the problem make it impossible to conduct the study
cost-benefit assessment ex.: debating wheter to conduct survey before launch. she will spend $100,000 to conduct study. if the product is launched w/o the study and product fails, she could suffer a loss of $2million
situation analysis example: a MR firm has formed a team to study a problem. in order to familiarize withthe overall complexity of the problem, the MR team decides to gather and synthesize background info including events and factors that led to the current problem. this research team is engaged in.....
at which stage of the research process is the iceberg principle generally applicable?: determination of the research problem
a literature review has all of the following objectives...: -provide background info about the current study -clarify thinking about the research problem -help define important constructs of interests to the study -reveal whether info already exists to answer research questions.
john is trying to determine if secondary research will add vale in given situations or not. he lists the following 5 situations. in which of these situations is secondary research likely to be the least helpful?: determining the level of customer satisfaction with the company's new product. (key values of secondary research. interested in new product-> no primary data-> can't do 2ndary research)
MR firms have attributed revenue increases to what?: post sale customer satisfaction studies, retail driven product scanning systems, database development for long term brand management and international research studies
marketing research providers classified as: either internal or external, custom or standardized, or brokers/facilitators
internal researchers: typically organizational units that reside within a company. ex. kraft=internal marketing research dept. benefits: Research method consistency, shared info across the company, lower research costs, ability to produce actionable research results
external sources of MR: aka MR suppliers. perform all aspects of research including study design Questionaire production interviewing data analysis report prep benefits: more objective and less subject to company politics and regulations . provide specialized talents. can use on a study-by-study basis and gain flexibility in scheduling studies as well as match specific project req. to talents of specialized research firms.
customized research: research firms that provide tailored services for clients. ex-concentrate on one specific area.
standardized research firms: R firms that provide general results following a standard format so that results of a study conducted for one client can be compared to norms.
syndicated business services: services provided by standardized research firms that include data made or developed from a common data pool or database ex- audits, purchase diary panels, advertising recall data made or developed from a common data pool or database.
changing skill for a changing industry: 1 ability to understand & interpret 2ndary data 2 presentation skills 3 foreign language competency 4 negotiation skills 5 computer proficiency shift from analytical to execution skill req.
major sources of ethical issues in MR are interactions with: 1 research info providers 2 research info users 3 respondents
potential ethical pitfalls: pricing: "soft" costs, selling nonessential services client confidentiality: sharing competitor info "black box" methodologies:
black box methodologies: proprietary scaling, sampling, sample correction, data collection methods, mkt segmentation, specialized indexes proprietary R firms will not disclose how the methodology works
curbstoning: occurs when the R's trained interviewers or observers , rather than conducting interviews of observing respondents actions as directed in the study, will complete the interviews themselves or make up observed respondents behaviors. falsification practice minimize data falsification: call backs 10-15%
subject debriefing: fully explaining to respondents any deception that was used during research. cannot be physically harmed or psychologically harmed
sugging/frugging: completely unethical and has a neg. impact on the entire industry b/c it leads to consumers turning down legitimate research inquiries because they do not want to be solicited. claiming that a survey is for research and then asking for a sale or donation MR should not invade customer privacy
de-anonymizing data: * combining different publicly available info, usually unethically, to determine consumers' identities, especially on the internet. the mra guidelines prohibit MRs from de-anonymizing data. MRA guidlines do allow clickstream tracking. but as with other public behavior, online actions may be observed by any identifying info must be removed from the data file.
unethical acts of client/research user: promise long term relationship requesting detailed research proposals from several ppl overstating results
unethical acts by respondent: providing dishonest answers faking behavior provide untrue answers about life (income, drug abuse) lie to match the characteristics screening undermines validity
code of ethics: internal codes derived from larger institutions code applies to all mktg functions including research/ ESOMAR code
emerging trends: 1 emphasis on secondary data 2 movement toward tech-related data mgmt 3 expanded use of digital technology 4 broader international client base 5 movement beyond data analysis toward a data interpretation/info mgmt environment
what is marketing: the activity, creating, communicating, exchanging offerings that have value for customers society at large -meeting the needs and wants of the consumer better than the competition
exchange: trade of value between buyer and seller so that each is better off
good vs. bad marketing: avoid: manipulation, tricks, gimmicks, schemes
evolution of marketing: production era: until 1920s-buyers willing to accept virtually anything sales era- 1920s-1960s-manu produce more goods than buyers consumer mktg concepts era- 1960s and on. achieve org. goals-mktg at beginning rather than the end find out if there is a need.
branding: the process of naming and identifying products
positioning: space product occupies in consumers minds relative to competition. -how consumers see our product relative to competitors
church using 4 p's: product-faith place-online, tv, building price-offerings, time ( not always money) promotion-word of mouth, newsletters, steeples
conceptual map- exploratory vs confirmatory: cereal boxes! special K vs. Trix exploratory: consumers are identifying dimensions, then you pick the axis (class ex) confirmatory: you identify they axis, consumers fill in -determine where there is space. do customers want this space filled?
repositioning: ex. cheerios.... to honey nut cheerios... add mascot... colors... etc.
segmentations: demographics
tequila-what do you think of?: limes, beach, shots, mexico, etc. repostioning scheme "night out" make nice drinks with tequila... private party, exec chef... etc.
review example of target/jason wu/patriots/giants (coding) all on twitter... example of what?: positive messages mostly...tweetfeel.com ex of sentiment analysis- larger text analytic affect. using social media etc to gather info, emotions, etc. text is turned into data. noise/error: i just had a good "apple" cross research reliability: dont know if its + or -. at least >80%
what is marketing research?: function that links an organization to its market through the gathering of information (data)
ASCAP repositioning: "we're the oldest" 71,000 members in 1990 preforming rights society slow growth from peopls perspective (sound of music) so... new logo, members card, leveraged popular members. celebrating 96 yrs of america's best music. 410,000 in 2011
tasks: -designing methods for collecting data (polls, surverys, focus groups) -managing the info collection process -analyzing and interpreting results -communicating findings to decision makers (the new price should be)
new data collection techniques: twitter, facebook, linkedin -likes, interests, photos, groups, relationships,places, brands
situation analysis: SWOT (strengths, weaknesses, opportunities, threats) ***using secondary data from the team/company
performance analysis: from the consumer *** jeans. 1 fit comfort, 2price, 3 brand, 4 color
super bowl ads: worst than last year budget cuts dogs in commercials
marketing research: collecting data in order to make decisions on what to do!
jason wu: sold out/ positioning: affordable luxury planning on replacing inventory distribution: retail (exclusive-only target, but there is mass distribution) price-relatively affordable promotion-commercial and ads
Mass-tege: mass + prestige! fashion designer+mass retailer marketing strategy other ex- chino latino in cub foods starbucks in grocery stores cars-making more affordable line
repositioning examples: way back machine. coach repositioning high price points, simple design, products exclusive....went more mass! more stores and more outlets... now fashion forward and trendy designs Victorias secret- victorian & lady-like--->bolder, risky, black and red. outlets in every mall-pink clothing etc
information research process: systematic task of gathering, analyzing, interpreting and transforming data into decision making information.
primary research is not always necessary: 1. check secondary data sources 2 collect primary data (info must be already available)
phases of the research process: 1 determine the research problem properly define the problem, most important step use 4 p's (ex: losing mkt share, advertising, packaging, distribution) basically any element that comes up with 4 p's 2. select appropriate research design -exploratory research design: interviews, focus groups, projective techniques -causal research design: establish cause and effect. method: conduct an experiment. we have to be in control -descriptive research method: describes data method: surveys 3. execute the research deisgn :collect , analyze, interpret data to create knowledge. 4. communicate the results
scientific method: logical;does it make sense? objective; unbiased lens systematic; process reliable; seeing consistent results across time valid; is it measuring what we say its measuring (ACT example) (kids smiling on campus example) **if you can think of other reasons why they are doing something... not valid)
phase 1 determine the research problem: step 1 identify and clarify info needs 2 define and research problem & Q's 3 specify research objectives and confirm the info value.
branded house: nike-everything has a swoosh
house of brands: proctor and gamble- tide, bounty, gilette, own brand name
endorsed: courtyard by mariott
Gucci example with Snooki: who is there target market? is snooki effecting sales? find original source send other bags so she doesn't wear yours
Conceptualization! dependent vs. independent variable: relationship b/w dep. and indep. v. dependent variable-a good non profit independent variable- number of ppl available, desire to help people, creativity, amount of connections, leadership in community
product positioning statement: 5 things what business is your company in? what kind of product or service is it selling? what kind of customers does it wish to sell to? how does the product or service solve the customers problem why is your product or service superior to those of your competitors *create a niche for yourself, stand out
branded black box methodology: so they can use their data to their advantage -not telling the world exactly what they are doing -dont enclose how they got the info -if they told us the exact methology then we could do it by ourself
hypothesis: a statement about (or prediction) the relationship between variables

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