Marketing Research. BMI3C Unit 4 Slide 2 Marketing Research the systematic collection, analysis, and...
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Transcript of Marketing Research. BMI3C Unit 4 Slide 2 Marketing Research the systematic collection, analysis, and...
Marketing ResearchMarketing Research
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Unit 4
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Marketing ResearchMarketing Research
• the systematic collection, analysis, and interpretation of information to develop a market strategy or solve a marketing problem.
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Marketing ResearchMarketing Research
Why?Marketing research firms provide businesses with professional researchers to make marketing more
successful.
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Marketing ResearchMarketing Research
Two types of information used in market research:
•primary data•secondary data
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Gathering Secondary Gathering Secondary DataData
Secondary data: information that has already been collected and published by others.Secondary research: finding this information, and then analyzing it for a new purpose.
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Gathering Secondary Gathering Secondary DataData
PROS• information is already
gathered• takes less time• less expensive• can be done with small firms
(without hiring marketing firm)
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Gathering Secondary Gathering Secondary DataData
CONS• information is “second-
hand”• may not be suitable for what
you are researching• may be difficult to
“reinterpret”
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Gathering Secondary Gathering Secondary DataData
SOURCES• books, periodicals, indexes,
databases, the internet, consultants, marketing research professionals
• Statistics Canada
Gathering Secondary Gathering Secondary DataData
Assignment
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Gathering Secondary Gathering Secondary DataData
1. Choose a city in Canada starting with the same letter as your first or last name.
2. Find four pieces of information about that city a marketer may use to promote it.
3. Give list to teacher.
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Doyle Research Associates
Please make sure to cleanse your palette between samples!
Answer all questions as truthfully as possible. Do not consult with those around you.
Thank you for your participation!
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Gathering Primary Gathering Primary DataData
Primary data: information newly collected by a researcher for a specific purpose.
Two general types:
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Gathering Primary Gathering Primary DataData
Qualitative Research• used to gather people’s
reactions and responses•blind taste tests, opinion polls
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Gathering Primary Gathering Primary DataData
Quantitative Research• data is collected by
surveying a sample of the target-market
• researchers use the results to predict opinions of entire market
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Gathering Primary Gathering Primary DataData
Researchers collect information using various techniques:
• test marketing• internal information sources• surveys• observation• focus-group interviews
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Gathering Primary Gathering Primary DataData
Test Marketing• test markets are sites that
mirror the demographic composition of total market; eg. Peterborough, ON
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Gathering Primary Gathering Primary DataData
Test Marketing• used for packaged goods• used for movies: private
screenings, sneak previews
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Gathering Primary Gathering Primary DataData
Test Marketing• done in different ways:
•product placed in store, monitor sales
•change a factor in one store → are sales impacted?
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Gathering Primary Gathering Primary DataData
Test Marketing• location is kept secret so
consumers don’t act differently. If people know something is being tested, they may skew the results.
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Gathering Primary Gathering Primary DataData
Test Marketing• expensive, and can give
inaccurate results• competitors who know you
are conducting a test may try to sabotage process
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Gathering Primary Gathering Primary DataData
Internal Information SourcesThis is usually where marketing research begins.
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Gathering Primary Gathering Primary DataData
Internal Information Sources
• inventory and sales records: popularity of product, fluctuations in sales ($ and #), stock turnover
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Gathering Primary Gathering Primary DataData
Internal Information Sources
• advertising and promotional records: effectiveness of ads, coupons, contests, product sample offers
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Gathering Primary Gathering Primary DataData
Internal Information Sources
• production records: peak ordering periods, downtimes, to help schedule marketing and advertising plans
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Gathering Primary Gathering Primary DataData
Internal Information Sources
• customer databases•track purchasing patterns•target specific promos to frequent customers
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Gathering Primary Gathering Primary DataData
Internal Information Sources
• client cards and reward programs require personal information (gender, age, income, etc.)•card usage is tracked
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Gathering Primary Gathering Primary DataData
Internal Information Sources
• data mining looks for hidden connections between personal information and purchasing behaviour
The Market Research The Market Research ProjectProject
Big Assignment
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Gathering Primary Gathering Primary DataData
SurveysA survey is a set of
carefully planned questions used to gather data. These can be completed in writing or orally, in person, on the phone, through the mail, or on the internet.
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Gathering Primary Gathering Primary DataData
SurveysMost surveys use closed-
ended questions, which ask you to select an answer from two or more choices.
•quick and simple to answer
•easy to sort and analyze
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Gathering Primary Gathering Primary DataData
SurveysUsually yes/no,
multiple choice, agree/ disagree, rate on a
scale types of questions.
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Gathering Primary Gathering Primary DataData
SurveysSample closed-ended
questions
I would buy this brand again
agree uncertain disagree
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Gathering Primary Gathering Primary DataData
SurveysSample closed-ended
questions
Are you a smoker? yes no
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Gathering Primary Gathering Primary DataData
SurveysSample closed-ended
questions
Which brand names have you purchased in the last year? Dove Irish Spring Ivory Jergens Lever 2000 Other
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Gathering Primary Gathering Primary DataData
SurveysSample closed-ended questions
Rate our service using the following scale
poor excellent
Clean 1 2 3 4 5Friendly staff 1 2 3 4 5Value 1 2 3 4 5
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Gathering Primary Gathering Primary DataData
SurveysSample closed-ended
questions
What do you look for when you shop for a DVD player? simple remote ease of use plays MP3/JPG brand name
multi-disc warranty
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Gathering Primary Gathering Primary DataData
SurveysWhen researchers conduct
surveys they collect from a random sample of their target market population, giving each member an equal chance of being selected.
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Gathering Primary Gathering Primary DataData
SurveysIf a sample does not
accurately represent the target market, then the results may be misleading; the sample is said to be biased.
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Gathering Primary Gathering Primary DataData
SurveysIf the survey sample is
truly random, then the results could be projected onto the entire market.
see figure 4.17, page 140
Problem Survey Problem Survey QuestionsQuestions
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
Have you ever been caught surfing to inappropriate sites at work?
Leading question
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
How much time do you spend watching TV and doing housework?
Two questions in one
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
Select your annual salary level. 20,000-40,000 40,000-60,000
60,000-80,000 80,000-
Nonmutually exclusive answers
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
When was the first time you saw a commercial for our product?
Unanswerable question
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
Why is our product better than our competitor’s?
Leading question
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
How much do you pay for entertainment?
Ambiguous question
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
How much do you pay for entertainment weekly?
$5 $10 $15 $20
Nonexhaustive question
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
How much do you pay for entertainment and groceries weekly?
$5 $10 $15 $20
Two questions in one
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
How much do you think the average customer spends monthly on clothing?
Unanswerable question
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
Where do you use All Around the House cleaner most?
bathroom kitchen laundry
Nonexhaustive question
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Gathering Primary Gathering Primary DataData
Problem Survey Questions
Why do you think our cereal is the best tasting one on the market?
Leading question
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Gathering Primary Gathering Primary DataData
Observation• collecting information by
recording people’s actions without interacting with them to see how they behave
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Gathering Primary Gathering Primary DataData
Observation• Often people do not know
they are being watched. This is to ensure they act the way they usually do.
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Gathering Primary Gathering Primary DataData
Observation• more accurate and less
biased than surveys• more expensive
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Gathering Primary Gathering Primary DataData
Observation• less effective in large groups:
•difficult to observe many people at one time
•people respond to the actions of others
» results in bias
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Gathering Primary Gathering Primary DataData
Observation• done using cameras, one-
way mirrors, other methods of mechanical observation
•bar-code scanners, eye-tracking photography
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Gathering Primary Gathering Primary DataData
Focus-Group Interviews• A small group of people
brought together to discuss a product or issue.
• Participants are carefully selected to represent a specific target market.
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Gathering Primary Gathering Primary DataData
Focus-Group Interviews• moderator guides the
discussion in an unbiased manner. Sessions are often recorded for further review.
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TODAY’S TASKSTODAY’S TASKS
1. Choose classes to visit(see lists posted on bulletin board)
2. Compose letters to teachers (who, what, when, ask for response)
3. Start rough survey(show Mr. M. for approval)
Preparing a Research Preparing a Research ReportReport
(refer to handout)
Types of Marketing Types of Marketing ResearchResearch
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Consumer ResearchConsumer Research
Consumer research is used to determine buying behaviour.
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Consumer ResearchConsumer ResearchAwareness, attitude and usage studies (AAU)measures consumer awareness of product
•unaided awareness:– list all the [whatever] you can think
of
•aided awareness:–check off all the [whatever] you’re
familiar with
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Consumer ResearchConsumer Research
Awareness, attitude and usage studies (AAU)
total awareness
unaided awareness
aided awareness= +
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Consumer ResearchConsumer Research
Awareness, attitude and usage studies (AAU)
•attitudes about product help identify strengths & weaknesses
• STRENGTH: “the brand has been around for a long time”
• WEAKNESS: “the product is old-fashioned and boring”
•helps develop ad campaign
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Consumer ResearchConsumer Research
Awareness, attitude and usage studies (AAU)
•usage patterns help develop consumer profiles•use data to link groups to product use
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Consumer ResearchConsumer Research
Consumer segmentation analysis
•group potential customers based on characteristics
•gear advertising and promos to this group
Th
is i
s a
larg
e co
mp
on
ent
of
the
fin
al
pro
ject
mar
k!
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Consumer ResearchConsumer Research
Market dimension analysis
•researches the main issues about the product that influence a consumer segment•what is it that you find so appealing about the product?
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Consumer ResearchConsumer Research
Product research•examines the details of the product and their impact •colour, package, flavour, size, texture, design, etc.
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Consumer ResearchConsumer Research
Product research• assess making
modifications based on consumer feedbacka) is the technology
available, and will it be worth the increased cost?
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Consumer ResearchConsumer ResearchProduct research
• assess making modifications based on consumer feedbackb) will consumers see the
improvement as worth the extra cost?
c) will the new feature prompt consumers to change brands?
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Consumer ResearchConsumer Research
Media research• segment customers
based on what they read, watch, listen to
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Consumer ResearchConsumer Research
Media researchProvides:• marketers with the ability to
communicate with target mkts
• media outlets with audience numbers; used to set ad prices
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Consumer ResearchConsumer Research
Consumer tracking devices
• determine consumer behaviour while shopping
•when consumers shop•where they shop•what they buy
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Consumer ResearchConsumer Research
Consumer tracking devices
• uses computer-assisted devices
• data used to determine displays, store layout, advertising, inventory, etc.
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Consumer ResearchConsumer Research
Motivational research• psychological research into
consumer buying behaviour• look at emotional and
rational reasons for buying decisions
• helps determine promotional methods
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Consumer ResearchConsumer Research
Consumer satisfaction studies
• feedback cards, follow-up interviews, suggestion boxes
• identify gaps between customer satisfaction and ideal
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Consumer ResearchConsumer Research
Consumer satisfaction studies
• results identify areas for product development, competitive differentiation
• ongoing
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Consumer ResearchConsumer Research
Advertising research• provides information on
effectiveness of ads• done in focus groups before
going public• may modify ads as a result
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Consumer ResearchConsumer Research
Advertising research• often day after recall (DAR)
is tested• promos also measured for
effectiveness: how many people used coupons? called the 1-800 number? Filled a ballot?
Competitive ResearchCompetitive Research
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Competitive ResearchCompetitive Research
Competitive research is used to determine what products are competing with your product, and how.
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Competitive ResearchCompetitive Research
Competitive Market Analysis
•uses a variety of tools to compare all products in a particular category
•identify competitors, their strengths
is a market segment worth entering?
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Competitive ResearchCompetitive Research
Competitive Intelligence•gather as much information
about competitors as possible•collect articles about
companies, reports, corporate profiles; samples of ads, PR material, promotions
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Competitive ResearchCompetitive ResearchPricing Research
• investigate pricing for a product: can you competitively price a product and still profit?
• looks at price vs. demand•a lower price (and lower profit)
may help grow market share, and eventually increased profits
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Competitive ResearchCompetitive ResearchComparative Worth Analysis is used:My product’s “value”: 22Competitor’s “value”: 20
Since my value is 10% greater, my price should be ~ 10% higher.
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Competitive ResearchCompetitive Research
Conjoint (Tradeoff) Analysis
•identify individual features of a product which make up the value equation
•identify which of these features are most valued and should be emphasized
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HOMEWORKHOMEWORKChapter 4 review questions
#1, 3, 4, 7, 8Due Tuesday