18010528
Market Research
- Definition
- Systematic Design, Collection, Analysis & Reporting of Data. Using Statistical
& Analytical Methods to Gain Insights & Support Decision Making by
Describing Market Users & Trends of Usage
- Systematic Design, Collection, Analysis & Reporting of Data. Using Statistical
& Analytical Methods to Gain Insights & Support Decision Making by
Describing Market Users & Trends of Usage
- Marketing Elements
that Benefit
- Segmentation
- Finds Market Structure / Growth,
Trends, Lifestyle & Demographics of
Segment Consumers
- Finds Market Structure / Growth,
Trends, Lifestyle & Demographics of
Segment Consumers
- NPD & Pricing
- Highlights new Concepts &
Customer's Perceptions,
Finds Price Elasticity/Trends
- Highlights new Concepts &
Customer's Perceptions,
Finds Price Elasticity/Trends
- Integrated Marketing
Communications (IMC)
- Effectiveness of Advertising &
Promotions. Attitudinal Research
- Effectiveness of Advertising &
Promotions. Attitudinal Research
- Competitor Analysis
- Shows their Strengths,
Strategies & Limitations
- Shows their Strengths,
Strategies & Limitations
- Segmentation
- Types of Market Research
- Applied
- Practical/Solves
Problems. E.g, Why are
Sales Dropping?
- Practical/Solves
Problems. E.g, Why are
Sales Dropping?
- Basic
- Theoretical/Academic.
E.g, Why People Shop?
- Theoretical/Academic.
E.g, Why People Shop?
- Applied
- Research Classifications
- Exploratory
- Used to Gain Initial Insights to
Form Research Hypothesis
- Used to Gain Initial Insights to
Form Research Hypothesis
- Descriptive
- Describe Characteristics, Determine
Perceptions of Problem & Degree of
Associations Between Variables
- Describe Characteristics, Determine
Perceptions of Problem & Degree of
Associations Between Variables
- Casual
- Identifies 'Casual' Relationships.
Cause-And-Effect between
Variables E.g, Price/Demand
- Identifies 'Casual' Relationships.
Cause-And-Effect between
Variables E.g, Price/Demand
- Exploratory
- The Market
Research Process
- Initial Contact
- Research Brief
- Research Proposal
- Data Collection
- Data Anlysis &
Interpretation
- Report Writing &
Presentation
- Research Report to Outline Brief & Scope/Methods
of Research, Any Findings & Summarise any
Conclusions or Recommendations
- Research Report to Outline Brief & Scope/Methods
of Research, Any Findings & Summarise any
Conclusions or Recommendations
- Describe Variables (Average, Frequency & SD)
Compare variables (Cross tables, T-test & ANOVA
test) Further analysis (Correlation & Regression)
- Report Writing &
Presentation
- Either by QUALITATIVE (Unstructured, Primarily
Exploratory design based by Small Samples,
to Prove Depth, Insight & Understanding)
QUANTITATIVE (Seek to Quantify Data & Apply
Measure & Statistical Analysis)
- Data Anlysis &
Interpretation
- Provided by Research Agency: Statement
of Objectives, Research Design,
Timetable & Cost.
- Data Collection
- Outlining Marketing Problem & Research
Objectives. Includes; Background &
Existing Information, Defined
Scope/Sources of Information, Scale of
Research Project (Budget), Timetable.
- Research Proposal
- Identifying Marketing Problem that
Requires Information. Decide to Conduct
Research Internally or Externally
- Research Brief
- Initial Contact
- Qualitative Data
Collection Methods
- Focus Groups
- Unstructured Discussion
to Find Consumer
Attitudes & Behaviours
- Allow Customer Insights, Can Generate NPD
Ideas if Innovative Partakers. However,
Susceptible to Peer Pressure & Hidden
Motives, Also not In-Depth about
Behaviourisms
- Allow Customer Insights, Can Generate NPD
Ideas if Innovative Partakers. However,
Susceptible to Peer Pressure & Hidden
Motives, Also not In-Depth about
Behaviourisms
- Unstructured Discussion
to Find Consumer
Attitudes & Behaviours
- In-Depth Interviews
- Unstructured, Personal Interviews
- Highly Skilled Interviewer.
- Designed to Uncover Underlying Motivations,
Attitudes & Beliefs about a Topic. Allows for
Discussion of Sensitive Topics & Attitudinal
Data. However, No Innovation to be Gained
- Designed to Uncover Underlying Motivations,
Attitudes & Beliefs about a Topic. Allows for
Discussion of Sensitive Topics & Attitudinal
Data. However, No Innovation to be Gained
- Unstructured, Personal Interviews
- Highly Skilled Interviewer.
- Focus Groups
- Quantitative Data
Collection Methods
- Surveys
- Sampling
- Define Populations - Sampling
Frame(Electoral Roll) - Sampling Method
(Randomness) - Sample Size (Cost & Time)
- Define Populations - Sampling
Frame(Electoral Roll) - Sampling Method
(Randomness) - Sample Size (Cost & Time)
- About
Surveys
- Pro's: Objective,
Standardised, Cost Effective
& Large Amounts of Data
- Con's: Relies on Participation, Lack
of Perception or In-Depth Info
- Con's: Relies on Participation, Lack
of Perception or In-Depth Info
- Pro's: Objective,
Standardised, Cost Effective
& Large Amounts of Data
- Survey Process
- Planning - Objective, Scale,
Method, Population etc
- Design - Questions, Prompts
- Pilot & Conducting
- Pilot & Conducting
- Design - Questions, Prompts
- Planning - Objective, Scale,
Method, Population etc
- Sampling
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