Market Research Applications

Van Thi Nguyen

Oct 11, 2009

[Mkt Research Applications]

Why do Research?

•Common answers– To understand my consumer, to see how my product is working, to measure my advertising effectiveness and so forth

– These are the means but they are not the real reasons.

•Research is conducted to help REDUCE BUSINESS RISKS and MAINTAIN OR INCREASE PROFITS. Its other associated function is to MONITOR THE EFFECTIVENESS OF THE MARKETING PLAN

[Mkt Research Applications]

Market Research: A Marketing Decision Making Framework

The Marketing Mix

The Marketing Decision Environment

The Consumer

The Environment

Source: Burke Institute

Awareness &

knowledge

Behavior, past, present and

future

Demographics

Psychographics

& other descriptors

Attitudes and opinions

Needs and wants

Political & Legal

Internal

Stakeholders

Competitive

Economic

Cultural & Social

Technological & Physical

ProductincludingBrand Name, Packaging and Service

Promotionincluding Advertising, P.R. and Personal Selling

Price

Placee.g. distribution

[Mkt Research Applications]

Research Needs and the Product Life-Cycle

$ 0

+

Sales and Profit Introductory

StageGrowthStage

MaturityStage

DeclineStage

Total Market Sales

Time

Research Types•Market definition

•Concept generation

•Concept / product evaluation

•Pack / advertising development

• Tracking

•Audits

•Consumer panel

data

•Tracking studies

•Market extension

•Repositioning research

• Identification of new

users, uses, markets

[Mkt Research Applications]

“People” - It’s about Knowing The Consumer

•Describe consumer behavior

• Identify needs and expectations

•Determine markets/segments

•Describe marketsAwareness

& knowledge

Awareness &

knowledgeBehavior,

past, present and future

Behavior, past, present and future

Demographics

Psychographics

& other descriptors

Demographics

Psychographics

& other descriptors

Attitudes and

opinions

Attitudes and

opinions

Needs and wants

Needs and wants

[Mkt Research Applications]

Translating Needs into “Product” ideas

• Concept development– brand

– packaging

– advertising

• Consumer receptiveness

[Mkt Research Applications]

“Price” - Identify Pricing Strategy

• Identifying price points

• Understanding price elasticity

• Price Choice

[Mkt Research Applications]

“Place” - Making it Available & Accessible

• Evaluate distribution channels and retailers

• Identify trade-related strategies

• Evaluate on shelf product placement and display

• Evaluate in store shopping environment and consumer behavior

[Mkt Research Applications]

“Promotion” of products to consumers

• Plan promotional appeals

• Evaluate advertising/ promo

campaigns– Awareness recall

– Ad contact

– Reach & impact

• Plan and evaluate media

placement

• Evaluate media– Readership

– TV viewing figures

– Ad spend

Advertising

Public Relations

Personal Selling

[Mkt Research Applications]

Total Marketing Mix

• Evaluate marketing plans/input

• Monitor brand health

• Evaluate test markets

• Forecast sales volumes

[Mkt Research Applications]

Market DefinitionFeasibility

IdeaGeneration

ConceptScreening

ConceptTesting

Product TestingPricing /

Packaging /Features /Positioning

AdvertisingPretest

Tracking

- Consumer- Retail- Media

BrandRelaunch

LineExtension

Market Research solutions to address needs at each stage of Product and Service lifecycle

Revitalise

Launch

Investigate

Evaluate

Develop

Conceptualise

Monitor

Pre market introduction

Strategy development

Maturity and maintenanceMarket launch

[Mkt Research Applications]

Research Applications

Consumer Dynamics Insights

• Consumer Decision Making• Shopping Behavior• Consumer Segmentation Managing brands and

customers

• Brand Health Management

• Customer Relationship Management

Marketing mix elements

• Advertising• Packaging• Pricing• Product Innovation