Market Research

Introduction to Market Introduction to Market ResearchResearch

For IA (Data Capture)For IA (Data Capture)

What is Market ResearchWhat is Market Research

Marketing research, or market research, is a Marketing research, or market research, is a form of business research and is generally form of business research and is generally

divided into two categories: consumer market divided into two categories: consumer market research and business-to-business (B2B) research and business-to-business (B2B)

market research, which was previously known market research, which was previously known as industrial marketing research. Consumer as industrial marketing research. Consumer

marketing research studies the buying habits of marketing research studies the buying habits of individual people while business-to-business individual people while business-to-business marketing research investigates the markets marketing research investigates the markets for products sold by one business to another.for products sold by one business to another.

Consumer Consumer market researchmarket research is a is a form of applied sociology that form of applied sociology that concentrates on understanding the concentrates on understanding the behaviours, whims and preferences, behaviours, whims and preferences, of consumers in a market-based of consumers in a market-based economy, and aims to understand the economy, and aims to understand the effects and comparative success of effects and comparative success of marketing campaigns. The field of marketing campaigns. The field of consumer marketing research as a consumer marketing research as a statistical science was pioneered by statistical science was pioneered by Arthur Nielsen with the founding of Arthur Nielsen with the founding of the ACNielsen Company in 1923.the ACNielsen Company in 1923.

Thus Thus marketing researchmarketing research is is the systematic and objective the systematic and objective identification, collection, identification, collection, analysis, and dissemination of analysis, and dissemination of information for the purpose of information for the purpose of assisting management in assisting management in decision making related to the decision making related to the identification and solution of identification and solution of problems and opportunities in problems and opportunities in marketingmarketing

Marketing research Marketing research characteristicscharacteristics

-Marketing Marketing research is systematicresearch is systematic

-Marketing research is Marketing research is objectiveobjective. .

-It involves the It involves the identificationidentification, collection, , collection, analysis, analysis, and dissemination of information. and dissemination of information.

-

Organizations engage in marketing Organizations engage in marketing research for two reasons:research for two reasons:

- (1) to identify a concern.(1) to identify a concern.- (2) solve marketing problems.(2) solve marketing problems.

This distinction serves as a basis for This distinction serves as a basis for classifying marketing research into classifying marketing research into problem identification research and problem identification research and problem solving research.problem solving research.

Research MethodsResearch Methods

QualitativeQualitative QuantitativeQuantitative

The aim is a complete, detailed The aim is a complete, detailed description.description.

The aim is to classify features, count The aim is to classify features, count them, and construct statistical models them, and construct statistical models in an attempt to explain what is in an attempt to explain what is observed.observed.

Researcher may only know Researcher may only know roughly in advance what he/she is roughly in advance what he/she is looking for. looking for.

Researcher knows clearly in Researcher knows clearly in advance what he/she is looking advance what he/she is looking for. for.

Recommended during earlier phases Recommended during earlier phases of research projects.of research projects.

Recommended during latter phases of Recommended during latter phases of research projects.research projects.

The design emerges as the study The design emerges as the study unfolds. unfolds.

All aspects of the study are carefully All aspects of the study are carefully designed before data is collected. designed before data is collected.



Researcher is the data gathering Researcher is the data gathering instrument.instrument.

Researcher uses tools, such as Researcher uses tools, such as questionnaires or equipment to collect questionnaires or equipment to collect numerical data.numerical data.

Data is in the form of words, pictures Data is in the form of words, pictures or objects.or objects.

Data is in the form of numbers and Data is in the form of numbers and statistics. statistics.

Subjective - individuals’ interpretation Subjective - individuals’ interpretation of events is important ,e.g., uses of events is important ,e.g., uses participant observation, in-depth participant observation, in-depth interviews etc.interviews etc.

Objective – seeks precise Objective – seeks precise measurement & analysis of target measurement & analysis of target concepts, e.g., uses surveys, concepts, e.g., uses surveys, questionnaires etc.questionnaires etc.

Qualitative data is more 'rich', time Qualitative data is more 'rich', time consuming, and less able to be consuming, and less able to be generalized. generalized.

Quantitative data is more efficient, Quantitative data is more efficient, able to test hypotheses, but may miss able to test hypotheses, but may miss contextual detail.contextual detail.



Researcher tends to become Researcher tends to become subjectively immersed in the subject subjectively immersed in the subject matter.matter.

Researcher tends to remain Researcher tends to remain objectively separated from the objectively separated from the subject matter. subject matter.

Research MethodsResearch Methods- Summary- Summary

Qualitative researchQualitative research involves analysis of data such as words involves analysis of data such as words (e.g., from interviews), pictures (e.g., video), or objects (e.g., an (e.g., from interviews), pictures (e.g., video), or objects (e.g., an artifact). artifact).

Quantitative researchQuantitative research involves analysis of numerical data. involves analysis of numerical data. The strengths and weaknessesThe strengths and weaknesses of qualitative and quantitative of qualitative and quantitative

research are a perennial, hot debate, especially in the social research are a perennial, hot debate, especially in the social sciences. The issues invoke classic 'paradigm war'. sciences. The issues invoke classic 'paradigm war'.

The personality / thinking styleThe personality / thinking style of the researcher and/or the of the researcher and/or the culture of the organization is under-recognized as a key factor in culture of the organization is under-recognized as a key factor in preferred choice of methods. preferred choice of methods.

Overly focusing on the debateOverly focusing on the debate of "qualitative of "qualitative versusversus quantitative" frames the methods in opposition. It is important to quantitative" frames the methods in opposition. It is important to focus also on how the techniques can be integrated, such as in focus also on how the techniques can be integrated, such as in mixed methods research. More good can come of social science mixed methods research. More good can come of social science researchers developing skills in both realms than debating which researchers developing skills in both realms than debating which method is superior. method is superior.

Types of marketing researchTypes of marketing research

1)Ad Tracking1)Ad Tracking – periodic or continuous – periodic or continuous in-market research to monitor a in-market research to monitor a brand’s brand’s performanceperformance using measures such as using measures such as brand awareness, brand preference, and brand awareness, brand preference, and product usage. (Young, 2005)product usage. (Young, 2005)

2)Advertising Research2)Advertising Research – used to – used to predict copy testing or predict copy testing or track the efficacy of track the efficacy of advertisementsadvertisements for any medium, for any medium, measured by the ad’s ability to get measured by the ad’s ability to get attention, communicate the message, attention, communicate the message, build the brand’s image, and motivate the build the brand’s image, and motivate the consumer to purchase the product or consumer to purchase the product or serviceservice

Types of marketing researchTypes of marketing research

3) 3) Brand equity researchBrand equity research - - how favorably do consumers view how favorably do consumers view the brand? the brand?

4) 4) Brand name testingBrand name testing - what - what do consumers feel about the names do consumers feel about the names of the products? of the products?

Types of marketing Types of marketing researchresearch

5) Commercial eye tracking 5) Commercial eye tracking researchresearch - examine advertisements, - examine advertisements, package designs, websites, etc by analyzing package designs, websites, etc by analyzing visual behavior of the consumer (Reaction)visual behavior of the consumer (Reaction)

6) 6) Concept testingConcept testing - to test the - to test the acceptance of a concept by target consumers acceptance of a concept by target consumers


7) 7) Cool huntingCool hunting - to make - to make observations and observations and predictions in predictions in changeschanges of new or existing cultural of new or existing cultural trends in areas such as fashion, music, trends in areas such as fashion, music, films, television, youth culture and films, television, youth culture and lifestyle lifestyle

8) 8) Buyer decision processes Buyer decision processes researchresearch - to determine - to determine what what motivates peoplemotivates people to buy and to buy and what what decision-making process they usedecision-making process they use


9) 9) Copy testingCopy testing – – predicts in-market predicts in-market performance of an ad before it airsperformance of an ad before it airs by by analyzing audience levels of attention, analyzing audience levels of attention, brand linkage, motivation, entertainment, brand linkage, motivation, entertainment, and communication, as well as breaking and communication, as well as breaking down the ad’s flow of attention and flow of down the ad’s flow of attention and flow of emotion. emotion.

10) 10) Customer satisfaction Customer satisfaction researchresearch - quantitative or qualitative - quantitative or qualitative studies that yields an understanding of a studies that yields an understanding of a customer's of satisfaction with a customer's of satisfaction with a transaction transaction


11) 11) Demand estimationDemand estimation - to - to determine the approximate level of determine the approximate level of demand for the product demand for the product

12) 12) Distribution channel Distribution channel auditsaudits - to assess distributors’ and - to assess distributors’ and retailers’ attitudes toward a product, retailers’ attitudes toward a product, brand, or company brand, or company


13) 13) Internet strategic Internet strategic intelligenceintelligence - searching for customer - searching for customer opinions in the Internet: chats, forums, web opinions in the Internet: chats, forums, web pages, blogs... where people express freely pages, blogs... where people express freely about their experiences with products, about their experiences with products, becoming strong "becoming strong "opinion formersopinion formers" "

14) 14) Marketing effectiveness Marketing effectiveness and analyticsand analytics - Building models and - Building models and measuring results to determine the measuring results to determine the effectiveness of individual marketing activities. effectiveness of individual marketing activities.


15) 15) Mystery Consumer or Mystery Consumer or Mystery shoppingMystery shopping - An - An employee or representative of the employee or representative of the market research firm anonymously market research firm anonymously contacts a salespersoncontacts a salesperson and indicates and indicates he or she is shopping for a product. he or she is shopping for a product. The shopper then records the entire The shopper then records the entire experience. This method is often experience. This method is often used for quality control or for used for quality control or for researching competitors' products. researching competitors' products.


16) 16) Positioning researchPositioning research - how does - how does the target market see the brand relative to the target market see the brand relative to competitors? - what does the brand stand for? competitors? - what does the brand stand for?

17) 17) Price elasticity testingPrice elasticity testing - to - to determine how sensitive customers are to determine how sensitive customers are to price changes price changes

18) 18) Sales forecastingSales forecasting - to determine - to determine the expected level of sales given the level of the expected level of sales given the level of demand. With respect to other factors like demand. With respect to other factors like Advertising expenditure, sales promotion etcAdvertising expenditure, sales promotion etc


19) 19) Segmentation researchSegmentation research - to - to determine the demographic, psychographic, determine the demographic, psychographic, and behavioral characteristicsand behavioral characteristics of potential of potential buyers buyers

20) 20) Online panelOnline panel - - a group of individual a group of individual who accepted to respond to marketing who accepted to respond to marketing researchresearch online online

21) 21) Store auditStore audit - to - to measure the salesmeasure the sales of a product or product line at a statistically of a product or product line at a statistically selected store sample in order selected store sample in order to determine to determine market sharemarket share, or to determine whether a , or to determine whether a retail store provides adequate service retail store provides adequate service


22) 22) Test marketingTest marketing - a small-scale product - a small-scale product launch used to determine the likely acceptance of launch used to determine the likely acceptance of the product when it is introduced into a wider the product when it is introduced into a wider market market

23) 23) Viral Marketing ResearchViral Marketing Research - - refers to marketing research designed to refers to marketing research designed to estimate the probability that specific estimate the probability that specific communications will be transmitted throughout communications will be transmitted throughout an individuals an individuals Social NetworkSocial Network. Estimates of . Estimates of Social Social Networking PotentialNetworking Potential (SNP) are combined with (SNP) are combined with estimates of selling effectiveness to estimate ROI estimates of selling effectiveness to estimate ROI on specific combinations of messages and media. on specific combinations of messages and media.

Data Collection MethodsData Collection Methods

- Primary ResearchPrimary Research – Data collected – Data collected through Face to Face Interviews, through Face to Face Interviews, Telephone, Online Research etc. Telephone, Online Research etc.

- Secondary researchSecondary research - is - is conducted on data published previously conducted on data published previously and usually by someone else. Secondary and usually by someone else. Secondary research costs far less than primary research costs far less than primary research, but seldom comes in a form research, but seldom comes in a form that exactly meets the needs of the that exactly meets the needs of the researcher.researcher.

Research DistinctionResearch Distinction

Exploratory researchExploratory research provides provides insights into and comprehension of an insights into and comprehension of an issue or situation. It issue or situation. It should draw should draw definitive conclusions only with extreme definitive conclusions only with extreme caution. caution.

Conclusive researchConclusive research draws draws conclusions: the results of the study can conclusions: the results of the study can be generalized to the whole population.be generalized to the whole population.

Marketing research methodsMarketing research methods

- Based on questioning:Based on questioning: Qualitative marketing researchQualitative marketing research

- generally used for exploratory - generally used for exploratory purposes purposes

- small number of respondents - not - small number of respondents - not generalizable to the whole population generalizable to the whole population

- statistical significance and - statistical significance and confidence not calculated confidence not calculated

- examples include focus groups, in-- examples include focus groups, in-depth interviews, and projective depth interviews, and projective techniques techniques

MR Based on MR Based on observations:observations:

Ethnographic studiesEthnographic studies - by nature qualitative, the researcher - by nature qualitative, the researcher

observes social phenomena in their natural observes social phenomena in their natural settingsetting

- observations can occur - observations can occur cross-cross-sectionallysectionally (observations made at one (observations made at one time) or time) or longitudinallylongitudinally (observations (observations occur over several time-periods)occur over several time-periods)

- examples include product-use analysis - examples include product-use analysis and computer cookie traces. See also and computer cookie traces. See also Ethnography and Observational techniques. Ethnography and Observational techniques.

MR Based on MR Based on observations:observations:

Experimental techniquesExperimental techniques -, by nature -, by nature quantitative, the researcher creates a quasi-quantitative, the researcher creates a quasi-artificial environment to try to control spurious artificial environment to try to control spurious factors, then manipulates at least one of the factors, then manipulates at least one of the variables - examples include purchase laboratories variables - examples include purchase laboratories and test markets and test markets

Researchers often use more than one research Researchers often use more than one research design. They may start with secondary research to design. They may start with secondary research to get background information, then conduct a focus get background information, then conduct a focus group (qualitative research design) to explore the group (qualitative research design) to explore the issues. Finally they might do a full nation-wide issues. Finally they might do a full nation-wide survey (quantitative research design) in order to survey (quantitative research design) in order to devise specific recommendations for the client.devise specific recommendations for the client.

Market Research Services by MR Market Research Services by MR companiescompanies

StandardizedStandardized services are research services are research studies conducted for different client firms studies conducted for different client firms but in a standard way. but in a standard way.

Customized servicesCustomized services offer a wide variety offer a wide variety of marketing research services customized of marketing research services customized to suit a client's specific needsto suit a client's specific needs

Limited-service suppliersLimited-service suppliers specialize in specialize in one or a few phases of the marketing one or a few phases of the marketing research project. Services offered by such research project. Services offered by such suppliers are classified as field services, suppliers are classified as field services, coding and data entry, data analysis, coding and data entry, data analysis, analytical services, and branded products. analytical services, and branded products.


Field servicesField services collect data through mail, collect data through mail, personal, or telephone interviewing, and personal, or telephone interviewing, and firms that specialize in interviewing are firms that specialize in interviewing are called field service organizations. called field service organizations.

Coding and data entry servicesCoding and data entry services include include editing completed questionnaires, editing completed questionnaires, developing a coding scheme, and developing a coding scheme, and transcribing the data on to diskettes or transcribing the data on to diskettes or magnetic tapes for input into the magnetic tapes for input into the computer. computer.


Coding and data entry servicesCoding and data entry services include include editing completed questionnaires, editing completed questionnaires, developing a coding scheme, and developing a coding scheme, and transcribing the data on to diskettes or transcribing the data on to diskettes or magnetic tapes for input into the computer. magnetic tapes for input into the computer.

Data analysis servicesData analysis services are offered by are offered by firms, also known as tab houses, that firms, also known as tab houses, that specialize in computer analysis of specialize in computer analysis of quantitative data such as those obtained in quantitative data such as those obtained in large surveyslarge surveys


Branded marketing research Branded marketing research productsproducts and services are and services are specialized data collection and specialized data collection and analysis procedures developed to analysis procedures developed to address specific types of marketing address specific types of marketing research problems. research problems.

Thank youThank you

Market Research

Documents

business marketing research

systematic research

industrial marketing

consumer market research

form of business research

business b2b market

phases of research projects

marketing problems