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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