Marketing Research

Friday, November 10

What is marketing research?

Marketing research is the link between the marketer and the market… It is the starting point of marketing… Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

MIS

: consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Marketing research goals

• UNDERSTAND • EXPLAIN • MEASURE • FORECAST • VERIFY

Marketing research content

• PRODUCT ANALYSIS • CONSUMER ANALYSIS • COMPETITOR ANALYSIS • DISTRIBUTOR ANALYSIS • ENVIRONMENTAL ANALYSIS

Marketing research process

Define problem and research objectives Develop the research plan Analyze the information Collect the information Present the findings

Research design

• The research design formally describes the

characteristics

of the survey and the

procedures

conduct the study.

used to • It is the

methodological framework

of the research.

•

Contents:

– Goals – Information sources – Variables – Survey method – Sampling method – Data analysis – Calendar – Budget

Internal validity External validity

Types of marketing research EXPLORATORY

-Documentary -

Qualitative DESCRIPTIVE CAUSAL

-Documentary -

Quantitative

-Experimentation -Observation

Research methods

•

Observational research

Audit: inventories, facing, pantry check… Mechanical: scanning, EDI, pupilometer… •

Experimental research

- Product/concept tests: prototype, comparative or not - Market/store tests: laboratory stores, catalog sales, mobile stores, in store tests, city tests… •

Survey or Ad hoc research

- Qualitative research: interviews, focus groups…

Qualitative and quantitative research

• The distinction between qualitative and quantitative research depends on the nature of the research problem.

• If “why?” or “how?”

QUALITATIVE RESEARCH

• If “how many?” or “how much?”

QUANTITATIVE RESEARCH

Information Sources

•

Secondary sources

: Existing data. All forms of documentary research.

DESK RESEARCH •

Primary sources

: Data collected for a specific situation at company’s request.

FIELD RESEARCH, AD HOC • These sources can be internal or external.

• The choice will depend on the marketing problem, objectives, resources…

Internal Information sources Secondary Primary

Accounting documents Sales documents Customer complaints or suggestions Marketing plans, reports Organizational chart Previous studies… Interviews with sales team Group meeting with management Brainstorming Survey conducted on staff Internal product test

External

Public institutions (INSEE, CFCE, CCI…) Trade institutions (FFF, AMA, CIVL…) Private institutions (consultants, trade press…) Research institutes Consumer focus groups Interviews with distributors Consumer survey Market tests

Documentary Research

• First step to marketing research • 4 steps – Define the topic (clear, feasible, pertinent) – Identify key words associated to the topic – Search for available sources of information – Consult, sort and summarize information • Questions to ask – Does the data correspond to the situation?

– Is there a risk of obtaining biased information?

– Was the research design technically coherent?

– Are the findings clear, precise…?

Research and polling institutes

• These institutes collect information for resale. • They can give 2 types of information: –

Standardized periodic information

: panels, longitudinal studies. Firms subscribe to this information. This is a secondary information source.

–

On-order studies

: reserved solely for one company. This is a primary information source.

Advantages and disadvantages of information sources Advantages Disadvantages Secondary

Low in cost Diversity Available Problem definition Familiar with market

Primary

Adapted information Recent, up-to-date Not available to competitors Incomplete, outdated Inadequate False information Difficult to control Costly Difficult to collect Time consuming

Sequence and relationship between different sources of information SECONDARY SOURCES (Desk Research)

Internal External

PRIMARY SOURCES (Field Research)

Qualitative Quantitative