Market Research

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SUM
WHAT IS MARKETING?
WHAT IS MARKETING RESEARCH?
WHAT IS MARKET RESEARCH?
Function of marketing research
WHY WE HAVE TO DO MARKET RESEARCH?
Why is the payback from research not so good?
Consultants need experience to:
When do research?
MARKET RESEARCH PROCESS
*** STEP 3: ESTABLISH RESEARCH OBJECTIVES ***
*** STEP 4: DETERMINE RESEARCH DESIGN ***
*** STEP 5: IDENTIFY INFORMATION TYPES AND SOURCES ***
*** STEP 6: DETERMINE METHODS OF ACCESSING DATA ***
*** STEP 7: DESIGN DATA COLLECTION FORMS ***
*** STEP 8: DETERMINE THE SAMPLE PLAN AND SIZE ***
is the activity, set of institutions, and

Marketing
WHAT IS processes for creating, communicating, delivering,

and exchanging offerings that have value for
MARKETING? customers, clients, partners and society at large. →
Approach and attract customers to buy
⇒A marketing strategy consists of selecting a
segment of the market as the company’s target
market and designing the proper “mix” of
product/service, price, promotion, and
distribution system → meet the wants and needs of
the consumers within the target market.
is the process of
Marketing research
WHAT IS designing, gathering, analyzing, and

reporting information → solve a
MARKETING specific marketing problem.
RESEARCH?
SUM 1
Market research as a process used to
WHAT IS MARKET define the size, location, and/or

makeup of the market for a product
RESEARCH? or service.
⇒ Applied for selecting the target

Function of marketing market, price research, product
research research, promotion research,
IDENTIFYING MARKET distribution research

OPPORTUNITIES AND
PROBLEMS
GENERATING, REFINING, AND

EVALUATING POTENTIAL
MARKETING ACTIONS
Research is conducted to help
WHY WE HAVE TO REDUCE BUSINESS RISKS and

MAINTAIN OR INCREASE PROFITS.
DO MARKET Its other associated function is to
RESEARCH? MONITOR THE EFFECTIVENESS OF

THE MARKETING PLAN THROUGH
But research CANNOT predict the UNDERSTANDING CONSUMER
future NEEDS & BEHAVIOUR..
Research cannot make the
decision for you
Poor marketing by researchers
Why is the Inadequate briefing by clients/ poor
payback from planning on their part
Trust in the Agency

research not so
Allocation of market research service
good? staff
SUM 2
Consultants Define your marketing problem into research terms
need Design the research

experience Manage the project
to: Undertake the appropriate analysis
Recognize all the above from their experience to be

able to put the findings onto context
Investment – U&A type definitive

When do research? study where you get to grips with a
market & return to the research
Cost-Disaster – check before a periodically throughout its life, to get
new campaign/ product launch to a fundamental understanding of
determine the acceptability of the what drives your market.
ad/ product.
MARKET RESEARCH PROCESS
SUM 3
*** STEP 3: ESTABLISH RESEARCH OBJECTIVES ***
3 types of research designs:

*** STEP 4: DETERMINE exploratory, descriptive and causal.
RESEARCH DESIGN ***
EXPLORATORY DESCRIPTIVE CAUSAL RESEARCH
RESEARCH RESEARCH
An attempt to
A form of casual, Refer to research uncover what factor
informal research that describes the or factors cause
that is undertaken to phenomena of some event.
gain background interest.
information, define
terms, clarify
problems and
hypotheses,
establish research
priorities.
Methods used:
secondary data
analysis, experience
surveys, case
analysis, focus group
SUM 4
2 types of information sources:
*** STEP 5: IDENTIFY PRIMARY and SECONDARY
INFORMATION TYPES AND
SOURCES ***
PRIMARY DATA SECONDARY DATA
Information collected Information already collected.

specifically for the problem at
Pros:
hand
Availability → Obtain quickly
Pros:
Inexpensive
Original Data
Enhance primary data by providing
Up-to-date
a current look at issues, trends,
Cons:
Cons:
Expensive
Incompatible reporting units
Cost time
Mismatch of the units of
measurement
Different definitions used to

classify the data
SUM 5
Timeliness of the secondary data
(Out-of-date/outdated information)
Lack of information needed to

assess the credibility of the data
reported.
*** STEP 6: DETERMINE METHODS OF ACCESSING DATA ***

3 types of methods: qualitative, quantitative and mixed
QUALITATIVE QUANTITATIVE MIXED
Involves collecting, Research involving the The combination of

analyzing, and administration of a qualitative and
interpreting set of structured quantitative
unstructured data questions with research methods
by observing what predetermined with the aim of
people do and say. response options to a gaining the
(analyzing stories of large number of advantages of both.
interviewees) respondents.
Qualitative research
techniques afford
rich
insight into
consumer
behavior.
SUM 6
*** STEP 7: DESIGN DATA COLLECTION FORMS ***
*** STEP 8: DETERMINE THE SAMPLE PLAN AND SIZE ***
SUM 7
SUM 8
SUM 9

Market Research

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is the activity, set of institutions, and

WHAT IS processes for creating, communicating, delivering,

WHAT IS designing, gathering, analyzing, and

WHAT IS MARKET define the size, location, and/or

⇒ Applied for selecting the target

IDENTIFYING MARKET distribution research

GENERATING, REFINING, AND

Research is conducted to help

WHY WE HAVE TO REDUCE BUSINESS RISKS and

RESEARCH? MONITOR THE EFFECTIVENESS OF

Poor marketing by researchers

Why is the Inadequate briefing by clients/ poor

payback from planning on their part

Trust in the Agency

need Design the research

Recognize all the above from their experience to be

Investment – U&A type definitive

MARKET RESEARCH PROCESS

3 types of research designs:

Information collected Information already collected.

Different definitions used to

Lack of information needed to

*** STEP 6: DETERMINE METHODS OF ACCESSING DATA ***

QUALITATIVE QUANTITATIVE MIXED

Involves collecting, Research involving the The combination of

*** STEP 8: DETERMINE THE SAMPLE PLAN AND SIZE ***

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* STEP 6: DETERMINE METHODS OF ACCESSING DATA *

* STEP 8: DETERMINE THE SAMPLE PLAN AND SIZE *