Qualitative Marketing Research

Class 1

Class 1

It aint the things we dont know that gets us in trouble. Its the things we know that aint so.

Artemus Ward7DefinitionMarketing research is the function that links the consumer, customer, and public to the marketer through informationinformation used to identify and define marketing opportunities and problems;generate, refine, and evaluate marketing actions; monitor marketing performance; andimprove understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications. Types of Marketing ResearchConclusiveExploratory

QuantitativeQualitative

SyndicatedCustomizedMy DefinitionMarketing research helps in marketing decision making by giving useful information to managers regarding consumers, competitors, products and services and brandsMarket ResearchSpecifies the information necessary to address these issuesManages and implements the data collection processAnalyzes the resultsCommunicates the findings and their implicationsHelps managers use this information to make decisionsClassification of Marketing ResearchProblem-Identification ResearchResearch undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research.

Problem-Solving ResearchResearch undertaken to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.A Classification of Marketing ResearchMarketing ResearchProblem Identification ResearchProblem-Solving ResearchMarket Potential ResearchMarket Share ResearchMarket Characteristics ResearchSales Analysis ResearchForecasting ResearchBusiness Trends ResearchSegmentation ResearchProduct ResearchPricing ResearchPromotion ResearchDistribution Research

Fig. 1.1Problem-Solving ResearchDetermine the basis of segmentationEstablish market potential and responsiveness for varioussegmentsSelect target markets Create lifestyle profiles:demography, media, and product image characteristicsSEGMENTATION RESEARCHTest concept Determine optimal product designPackage testsProduct modificationBrand positioning and repositioningTest marketingControl score testsPRODUCT RESEARCHTable 1.1

Problem-Solving ResearchTable 1.1 cont.PRICING RESEARCHPricing policiesImportance of price in brand selectionProduct line pricingPrice elasticity of demandInitiating and responding to price changes$ALEPROMOTIONAL RESEARCHOptimal promotional budgetSales promotion relationshipOptimal promotional mixCopy decisionsMedia decisionsCreative advertising testingEvaluation of advertising effectivenessClaim substantiation

0.00%APRProblem-Solving ResearchTable 1.1 cont.DISTRIBUTION RESEARCHDetermineTypes of distributionAttitudes of channel membersIntensity of wholesale & resale coverageChannel marginsLocation of retail and wholesale outlets

Marketing Research ProcessStep 1: Defining the ProblemStep 2: Developing an Approach to the ProblemStep 3: Formulating a Research DesignStep 4: Doing Field Work or Collecting DataStep 5: Preparing and Analyzing DataStep 6: Preparing and Presenting the Report