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Marketing Research Marketing Research Overview Kristen Resor

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Marketing Research Marketing Research Overview Kristen Resor Powered By Docstoc
					Marketing Research Overview



Kristen Resor             April 18, 2008
Senior Research Manager
Agenda
 Overview of Marketing Research
   Definition and Uses
   Importance
   Types Of Research
 Custom Research
   Research Process
   Qualitative vs. Quantitative
 How Companies Use Marketing Research
 Careers in Marketing Research
Marketing Research Definitions

 The function that links the consumer, customer, and
 public to the marketer through information.
 (Marketresearchcareers.com)



 The systematic design, collection, analysis and
 reporting of data and findings relevant to a specific
 marketing situation facing the company. (Kotler and
 Keller)
Marketing Research Uses
Importance Of Marketing Research

  Helps businesses make informed decision, rather
  than just based on “gut”


   • Choose better markets



   • Develop better offerings



   • Execute a better marketing plan
   Types Of Research


              Primary              Secondary


      Research that you           Research that has
      conduct first hand          already been done
                                     on a subject


Qualitative       Quantitative   Syndicated     Government
                                                data sources
Selecting Sources Of Information


   Primary         Secondary
Examples Of Sources


   Primary       Secondary
Agenda

  Overview of Marketing Research
    Definition and Uses
    Importance
    Types Of Research
  Custom Research
    Research Process
    Qualitative vs. Quantitative
  How Companies Use Marketing Research
  Careers in Marketing Research
      Custom Research Process


 Define           Design           Collect          Analyze            Decide


Define the        Design the       Implement        Analyze results,   Use
problem and       method for       and manage       synthesize         information to
research          collecting the   the collection   findings and       make business
objectives        information      process          assess             decisions
                                                    implications


Collaborative     Marketing        Marketing         Marketing          Marketers and
effort –          Researcher       Researcher        Researcher         other decision
Marketing and                                                           makers
Researchers

Don’t skip this
most important
step!!!
Custom Research Services



  Data
                      Full-Service/
Collection
                       Consultant
Services
Qualitative vs. Quantitative


   Qualitative       Quantitative
     Qualitative vs. Quantitative
Qualitative                 Quantitative


Unstructured / Flexible      Structured / Rigid

Why? How?                    How Many? What? Who?

Anecdotal                    Projectable

Unique                       Reproducible

Conceptual / Thematic        Analytical / Factual

 Generate Hypotheses         Test Hypotheses

 Dig Deeper                  Decide Where to Dig

Participatory                Controlled
Designing a Method


   Qualitative       Quantitative
Agenda
 Overview of Marketing Research
   Definition and Uses
   Importance
   Types Of Research
 Custom Research
   Research Process
   Qualitative vs. Quantitative
 How Companies Use Marketing Research
 Careers in Marketing Research
     Supports Marketing Process
   Strategic           New Product           Marketing             Customer
   Research            Development         Communications         Satisfaction


• Attitude and       • Ideation             • Brand equity        • Satisfaction &
  usage studies                               studies               loyalty driver
                     • Concept screening                            studies
• Market                                    • Brand positioning
  segmentation       • Concept evolution      development &       • Satisfaction
  research           • Choice modeling        evaluation            tracking
• Problem/ benefit   • Product tests        • Advertising         • Attrition studies
  studies                                     development &
                   • Pricing and demand       testing             • “Shoppability”
• Purchase process   forecasting                                    studies
  studies                                   • Awareness, brand
                   • Packaging research       and image
                                              tracking
Informs Marketing Plan
Users Of Market Research

 •   Corporate Market Research Managers
 •   Corporate Marketing Decision Makers
 •   Corporate Operations Staff
 •   Management Consultants
 •   Advertising Agencies
 •   Attorneys (e.g., trademark protection)
 •   Human Resources (HR) Professionals
                Types Of Research Used




Source: Marketresearchcareers.com
Client A

 Address slowing growth in business

    Assess overall category attitudes and usage

    Determine drivers for purchase at competitive
    retail outlets
Client B

 Monitor consumer acceptance of high
 definition technology in DVD market

    Assess awareness, ownership and purchase
    interest of hi-def devices

    Determine barriers to adoption and purchase
    drivers

    Monitor stated purchase intent for hi-def DVDs
Client C

 Create unified and informed strategy
 enabling targeted and comprehensive
 brand portfolio

    Develop understanding of category purchase
    behavior

    Segment buyers to determine proper targets for
    brand portfolio

    Understand current positioning of brands in mind
    of consumers
Agenda
 Overview of Marketing Research
   Definition and Uses
   Importance
   Types Of Research
 Custom Research
   Research Process
   Qualitative vs. Quantitative
 How Companies Use Marketing Research
 Careers in Marketing Research
                Types Of Positions




Source: Marketresearchcareers.com
Average Salaries
                                 Average
     Top 10 Most
                                  2008
     Popular Job Titles
                                 Salary*
     Research Analyst            $51,314

     Project Director            $60,878

     Senior Research Analyst     $67,875

     Senior Project Director     $71,423

     Account Executive/Manager   $73,366

     Research Manager/Director   $83,054
     Senior Account
                                 $93,833
     Executive/Manager
     Senior Research
                                 $104,037
     Manager/Director
     Vice President              $123,438

     Senior Vice President       $126,328
Words Of Wisdom From The Experts
Market research must provide actionable results

Business objectives guide the entire process

Approach from the end to the beginning, not vice versa

Planning is everything – Garbage In, Garbage Out

Prepare for the worst, Plan for the best

Monitor quality at every step of the process

The data represents people

Take time to lay the groundwork
   Objective Setting
   Hypotheses to Test
   Analytic Preparation
Questions?

				
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