1、Prepared by Tao WU February 2005,Market Research Theories and Practice: A Training Class for Asia Base A/S,What Is Market Research?,I. THE DEFINITION OF MARKETING RESEARCH-BUSH AND BURNS (1995) The process of: (information which may be used to solve a specific problem)designinggatheringanalyzingrepo
2、rtingII. THE AMERICAN MARKETIONG ASSOCIATION DEFINITION OF MARKETING RESEARCH The function which links the consumer, customer, and public to the marketer decision maker through information used to:identify and define marketing opportunities and problemsgenerate, refine, and evaluate marketing action
3、s monitor marketing performanceimprove understanding of marketing as a process,The Definitions of Market Research,What are the Areas of Market Research?,The Market: Market size, market classification, market penetration, market share, market dynamics, market forecastMarketing: Brand Brand awareness,
4、 brand image, brand positioning, brand valueAdvertising/promotion Copy test, ad/promotion effectiveness, media channel selectionProduct Product testing, packaging test, product positioningPrice Price acceptance, pricing strategy, sales simulationChannel Distribution channel structure, retail auditPe
5、ople Customer satisfactionProfiling and Segmentation: Demographic profile, social economic status, psychological profile, life styleDecision Making Process: Choice model (consumer), business decisionmaking processMarket/Business Environment: Industry structure/chain, competitive situation, productio
6、n and ownership, government and regulatory policies,Five Areas of Market Research,What Are steps of Market Research?,STEP 1 -define the Problem Single most important step Problem well defined is half-solved Problem definition Specifying symptomsItemizing possible causesListing alternative solutionsS
7、TEP 2 -Establish Research Objectives What specific information is needed to solve the problem When collected , this information solves the problem,Seven Steps of Market Research,STEP 3- Determine Research Design Qualitative Research Unstructured Informal-often intuitiveDescriptive research Answers t
8、he questions -who , what, why, & howMost common type of researchQuantitative ResearchWhat variable is causing another to changeIndependent variable. Variables causing the change Dependent variable. Variable being changedAllows “if/then” statements to be developed,Seven Steps of Market Research,Exper
9、iments:Measure the change in one variableCreated by a change in the other variableWhile holding all other variables constantComplex and expensiveSTEP 4 -Determine Methods of Collecting Data Internal records External secondary data from suppliers Collection of primary data TelephoneMail Personal inte
10、rviews (Door-to-door, Mall intercept)STEP 5 - Determine Sample Plan and Size PopulationThe group of interest to the researcher SampleSubset of the population to be studied,Seven Steps of Market Research,STEP 6 -Analyze the Data Data AnalysisEntering the Data into the computerInspecting it for errors
11、Running various statistical tests Data Cleaning Uses frequency analysis program CodingAssigning all responses a numerical value Tabulation Counting the responses using frequency analysis Cross-Tabulation Examining two or more response categories at the same time Statistical tests,Seven Steps of Mark
12、et Research,STEP 7 - Prepare and Present the Final Research Report Written report One of the most important phasesCommunicates the results to the client Demonstrates your insights, your skills at interpretation Oral presentation Uses modern presentation technology,Seven Steps of Market Research,What
13、 Are the Impact of Market Research on Decisionmaking?,The goal is to provide the right information at the right time to the right person(s) and help them make decisions and solve problems.Direct impact: Product change, advertising modification, etc. Indirect impact: Reset goals, change strategies an
14、d priorities, reset agenda Indirect impact: Change of business language and terminologies (discourse),What Are the Methods of Data Collection?,KEY QUESTIONS TO ASK ABOUT SECONDARY DATA What as the purpose of the study? Who collected the information? What information was collected? How was the inform
15、ation obtained? How consistent is the information with other information?ADVANTAGES AND DISADVANTAGES OF SECONDARY DATA Advantage -Can be obtained quickly-Inexpensive compared to primary data-Readily available-Enhances existing primary data Disadvantages-Measurement units may not match researchs nee
16、ds-Class definitions may not be usable-Data may be out of data-May be difficult to assess credibility of the dataSOURCES OF SECONDARY DATA (Government statistics, industry report, newspapers and magazines, website, agency reports, internal records, etc),Secondary Data,A form of external, secondary d
17、ata that is supplied from a common database to subscribers for a service fee. Such information is typically detailed information that is of value to firms in a given industry and is not available in libraries.Advantages-Shared costs-High quality-Current informationDisadvantages-Standardized format-C
18、ommitment cost-Availability to competitors,Syndicated Data,Term Definitions Quantitative Research - the use of structured questions where the response options have been predetermined and a large number of respondents is involved. A sizable sample A representative sample Formalized procedure for data
19、 collection & analysisQualitative Research - involves collecting, analyzing, and interpreting data by observing what people do and say. Observations and statements are in a qualitative or non-standardized form.Focus Groups - A small group of people (6-8) guided by a moderator through an unstructured
20、, spontaneous discussion about some topic. Goal of a focus group is to learn ideas, feelings, and experiences about a topic in an uninhibited environment,Survey (Primary) Data,THE QUANTITATIVE DATA COULD BE COLLECTED BY Phone Mail In-person Web-Mail IVR (Interactive Voice Response) Mixed mode,Survey
21、 Data,ADVANTAGES OF QUANTITATIVE DATAStandardization-Questions are preset and worded identically-Questions are organized-Procedures are identical-Assurance that all relevant topics are coveredEase of Administration-Can be handed to people-Can be mailed to themAbility to Tap the Unseen-Ask what, why,
22、 how, and who-Variety of topics can be coveredSuitability to Tabulation and Statistical Analysis-Interpret patterns-Identify common themes-Identify correlation-Make inferences,Survey Data (Cont.),Sensitivity to Subgroup Differences-Easy to sort out subgroups-Cross classification analysis of groups p
23、ossible -Sample can target subgroups for inclusion,Survey Data (Cont.),ADVANTAGES OF FOCUS GROUP Generates fresh ideas: snowballing, Group creativity Allows clients to observe the group generally versatile: unlimited as to topics and issues Product prototypes Advertising copy Probing into attitudes
24、and opinions possible Works well with special respondents Executives Medical or other professional Disadvantages of Focus Groups May not represent the problem Not projectable to the target market May be non-representative group Small number of participants Interpretation is subjective Preconceived i
25、deas of client Preconceived ideas of analyst,Survey Data (Cont.),In-Depth Interviews A set of probing questions Posed one-on-one By a trained interviewer Gain insight into what the subject thinks about something or why he/she behaves in a certain way,Term Definitions (cont.),Summary,A Few Words abou
26、t Sampling,Establish INCLUSION and EXCLUSION criteria. Who is eligible?,A good sample is a miniature version of the population. SPECIFICALLY what type of population are you trying to represent?,1. Probability Samples provides a statistical (see + error range) basis for comments on representation. Ev
27、ery member of the target population has a known, nonzero probability of inclusion in the sample. RANDOM SAMPLES,2. Non Probability Samples Knowingly eliminate or reduce the chances of some members of the population being selected,What Are the Elements of Data Analysis?,Data processing Coding Data en
28、try Optical scanning Tabulation of results Frequencies Cross-tabulations Graphical representation Line charts Pie charts Bar charts,Descriptive statistics Mean, Median, Mode Dispersion Hypothesis testing T-tests, Z-tests Multivariate Analysis Regression Discriminant analysis Cluster analysis Factor
29、analysis Conjoint Perceptual mapping,Some Rules about Reporting,Always know your audience and their expectations. Set expectations at the start. Always tell a story. Remember the 3-6 second slide rule. With few exceptions, less is almost always better than more. Headlines, slogans, sayings, and pictures work.,Golden Rules,Step 1: Describe the fact,Step 3: Make Recommendations,Step 2: Analyze the relationship,Case Study,Thank You!,
