brand management and new product development section 7a brand management and the firm market...
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BRAND MANAGEMENT AND NEW PRODUCT DEVELOPMENT
SECTION 7ABrand Management and the Firm
Market Research - 1
ALAN L. WHITEBREAD
MARKET RESEARCH OVERVIEW
Market Research
The collection and analysis ofdata for market decisions about
COMPETITORSMARKETS
PRODUCTSRESPONDENTS
STRATEGY OPTIONS
Strategic Marketing for Evaluation data for
-Strategy analysis -New business
analysis Market Planning for
Market segmentation Market potential / shareCompetitive analysis
Product Management forNew or enhanced products 4 P's decisions
Product Development for Product concept testingSales techniques Price testing
UNDESTANDING RESULTS
Event 1 Event 2 Event 3 Event 4 Event 5 Event 6 Event 7 Event 8 Event 9 Event 10 Event 11 Event 12 Event 13 Event 14 Event 15 Event 16
Item A
Item B
Item C
Item D
Item E
Item F
Item G
Item H
Item I
UNDESTANDING RESULTS
Event 1 Event 2 Event 3 Event 4 Event 5 Event 6 Event 7 Event 8 Event 9 Event 10 Event 11 Event 12 Event 13 Event 14 Event 15 Event 16
Item A
Item B
Item C
Item D
Item E
Item F
Item G
Item H
Item I
Event 1 Event 5 Event 6 Event 9 Event 13 Event 16 Event 10 Event 14 Event 2 Event 4 Event 7 Event 12 Event 15 Event 3 Event 8 Event 11
Item G
Item A
Item C
Item H
Item I
Item B
Item E
Item D
Item F
FRAMING AN ISSUE
McKinsey & Company
• “Breakthrough Thinking from Inside the Box”, HBR, December, 2007, pp.71-78.– Create new boxes to think inside– Bound the range of acceptable ideas– Tailor the questions accordingly– Select participants capable of original insight– “21 Great Questions for Developing New
Products”
ELEMENTS OF A GOOD QUESTIONNAIRE
• Most are short, simple, and quick – but some can be quite long
• Precise wording of questions and answers• Avoids leading questions• Does not ask unreasonable questions• Does not alienate the respondent
– Sensitive topics = ?
• Readily lends itself to statistical analysis
THE QUESTION MUST BE VERY CAREFULLY WORDED
AND STRUCTURED!
THE STRUCTURE OF THE ANSWER IS JUST AS
IMPORTANT AS THAT OF THE QUESTION!
TYPES OF QUESTIONS
DICHOTOMOS QUESTION
THE RESPONDENT MUST ANSWER ONE OF JUST TWO CHOICES
DO YOU THINK TIDE GET CLOTHES CLEAN WITHOUT INJURING THE FABRIC? YES NO
TYPES OF QUESTIONS
DICHOTOMOS QUESTION
THE RESPONDENT MUST ANSWER ONE OF JUST TWO CHOICES
DO YOU THINK TIDE GET CLOTHES CLEAN WITHOUT INJURING THE FABRIC? YES NO
YES = CLEAN AND WITHOUT INJURY TO THE FABRIC
NO = WHICH? CLEAN, INJURES, CONFUSED, … ?
TYPES OF QUESTIONS
OPEN-END or COMPLETELY UNSTRUCTURED QUESTION
OBTAINS INFORMATION WITHOUT BIAS
IT IS LIKE AN ESSAY EXAM
IT IS VERY HARD TO ANALYZE
FREE RESPONSE QUESTION
ANSWERS ARE LIMITED TO A WORD OR A PHRASE
TYPES OF QUESTIONS
SENTENCE COMPLETION QUESTION
THE ______ IS OBTAINED BY DIVIDING ______ BY ______.
GOOD FOR ROTE MEMORY MEASUREMENT
THE RISK IS THAT IS ALL THEY MEASURE!
TYPES OF QUESTIONS
MULTIPLE CHOICE QUESTION – you must know everything about an issue to properly write these structured questions.
1-VERY EASY ANSWER SET
ONE CORRECT ANSWER
2-TO MEDIUM HARD ANSWER SET
SEVERAL ANSWERS ARE ONLY SLIGHTLY DIFFERENT
3-TO HARD ANSWER SET
COMBINATION ANSWERS ONLY SLIGHTLY DIFFERENT
TYPES OF QUESTIONS
RANKING, RATING, and CONTINUUM QUESTIONS
FORCE A MORE PRECISE SCALE OF MEASUREMENT
SCALE DETERMINES TYPE OF STATISTICAL ANALYSIS
PROBLEM IS THE MEANING OF THE SCALE OF MEASUREMENT
CHECK QUESTIONS
THE ASSUMPTIONS WERE WRONG!
• Univac predicted that by the year 2000, only about 1000 computers total would be in use and IBM dominated for years.
• IBM hired a consulting company and their study predicted that only a total of 5,000 Haloid machines could ever be sold and XEROX dominated for years.
QUALITATIVE RESEARCH
• Words and images
• “Soft” or subjective data
• Exploratory in nature
• Understand unmet needs
• Heuristic analysis: search for themes and deeper meanings
COMPETITIVE ANALYSIS: FIRMS
Traditional competitors
Evolving competitors
New competitors to the industry
The growing role of strategic alliances
COMPETITIVE ANALYSIS:PRODUCT LINE ANALYSIS
Competing Software Packages
Software FeaturesOUR PRODUCT
COMPETITOR #1
COMPETITOR #2
COMPETITOR #3
Accounts Payable and Accounts Receivable X X X X
Invoicing X X X X
Other Profiles X X X X
Researches by a wide variety of data X X X X
Prints customized reports X X O NO
Interfaces popular accounting software X PROPOSED O PROPOSED
Generates a wide variety of daily reports. X X X X
Imports data from Windows based applications. X X N X
Reporting features for creating contracts. X ? N ?
Reporting features for creating profit reports. NO X X X
Operates on Single Computer X X ? ?
Operates on Networks X X X X
Back-up feature. X ? ? ?
Updates X X X ?
Drill down research NO X FUTURE ?
Training X X X X
LEGEND: Y=yes O=optional N=no PROP=proprietary PFF=planned for the future
COMPETITIVE ANALYSIS:PRODUCT LINES [EXPLOSION]
MEN’S SHIRTS
BRAND
TYPEDress, casual,
sport, work
SIZES, M, L, XL
Pluslong and short
Button down or not---
Colors---
Fabrics
PRODUCT LINE EXPLOSION
• Look at what happens with only a little changes to the previous slide.
– Brands*types*sizes*collars*colors
1 4 8 2 4
• 1*4*8*2*4 = 256
• 3*4*8*2*6 = 1,152
CONTEXTUAL RESEARCH
CONTEXT
-Activities-Environment-Interactions
-Other products-People
-Processes-Relationships
CONTEXTUAL RESEARCH:PRINCIPLES
• Empathy for understanding
• Rapport for true behavior and values
• Subjects lead the session and identify what is important
• Focus on what subjects do more than their opinions
• General patterns should emerge
CONTEXTUAL RESEARCH:THE PROCESS
Defining theproblem and
researchobjectives
Defining theproblem and
researchobjectives
Developingthe research
plan
Developingthe research
planCollect the informationCollect the information
Analyze theinformationAnalyze theinformation
Present thefindings
Present thefindings
MarketingDecisionsMarketingDecisions
QUALITATIVE TECHNIQUES
• INTERVIEW USERS
• FREE ASSOCIATION– What does _________ mean to you?
QUALITATIVE TECHNIQUES
• FOCUS GROUPS– How do they work?
• PROJECTIVE TECHNIQUES– Completion and interpretation tasks– Comparison tasks– To try and uncover true opinions and feelings– Example: Rorschach Test [inkblot]
http://www.stupidstuff.org/main/rorschach.htm
CONCEPT TESTING:What ideas should we pursue?
• The unmet need or want– “The universal carryall”
• What is it?• How should it work?• Feature[s] = ?• Advantage[s] = ?• Benefit[s] =
1. ?
2. ?
3. ?
“The universal carryall”
CONCEPT TESTING:What ideas should we pursue?
• Test as many ideas as possible
• Test ideas before any feasibility analysis
• Do not mix innovative and very futuristic ideas in the same test set
BRAND ATTRIBUTES AND BENEFITS
PRODUCTOR
SERVICE
Functionalbenefits
Experientialbenefits
Symbolicbenefits
Product-relatedattributes
Brandpersonality
Userimagery
Usageimagery
TTU DELOITTE PROJECT, FALL 2008
SCALES OF MEASUREMENT
SCALE STRUCTURE EXAMPLE(S)
NOMINAL 1:1 correspondenceSubjective data
Football numbersLottery drawing numbers
ORDINAL
A scale existsNo distance relation is known (e.g. 3-2 <> 4-3)
Military rankQuality of lumber, beansUpper-middle-lower class
Ordinal scales are often used to evaluate consumer satisfaction.
How satisfied are you with PRODUCT X?
1. Not satisfied
2. Neither satisfied or dissatisfied
3. Satisfied
4. Very satisfied
5. Extremely satisfied
SCALES OF MEASUREMENTSCALE STRUCTURE EXAMPLE(S)
Equal distances between items (e.g. 4-2=4-3)
Calendar daysTemperature
RATIO
A continuous scale of measurementDefinite relationshipsA true zero point
MeasurementLoudness scale
INTERVALEqual distances between items (e.g. 3-2=4-3)
Calendar daysTemperature
Interval scales are often used to rank items.Which products do you prefer the most? Assign #1 to the most
preferred and #5 to the least preferred product. PRODUCT A _____ PRODUCT B _____ PRODUCT C _____ PRODUCT D _____ PRODUCT E _____
BRAND PERSONALITY
IF PRODUCT __________ WAS YOUR FRIEND,
HOW WOULD IT TALK TO YOU?
THE BRAND PERSONALITY APPROACH
SUPPORTING THEME:Brand-self congruence
SUPPORTING THEME:
Personality
SUPPORTING THEME:
Consumer self
BRAND PERSONALITY
BRAND PERSONALITY:Supporting theme: personality
Recessive personality
Personality dimensions
Dominant personality
Quiet, reserved, shy, silent, withdrawn
EXTROVERSION Talkative, active, energetic, outgoing
Fault-finding, cold, unfriendly, quarrelsome, hardhearted
AGREEABLE Sympathetic, kind, appreciative, affectionate, softhearted
Careless, disorderly, frivolous, irresponsible, slipshod
CONSCIOUSNESS Organized, thorough, efficient, responsible
Tense, anxious, nervous, moody, worrying
EMOTIONAL STABILITY Stable, calm, contented, unemotional
Commonplace, narrow interests, simple, shallow, unintelligent
OPENNESS / CULTURED Wide interests, imaginative, intelligent, original, insightful
BRAND PERSONALITY
Brand PersonalityCentral Theme
RuggednessSophisticationCompetenceExcitementSincerity
•Hallmark•Coke
•Pepsi •HP•Wall Street Journal
•BMW•Lexus•Grey Poupon
•Nike•Wells Fargo
THE POWER OF PASSIONS
• The brand is what makes a product more than just a product – it makes it unique.
• The brand goal is to be more than brand preference – a passionate brand insistence!
• This is done through engagement and fulfilling self-concept and image to others.
• Brand Passion “I am Canadian” video
CONNECTING WITH CONSUMERS
• B2C– Needs and wants– Emotions and self-actualization– Hopes [dream realizations]– Fears [risk reduction, safety]– Familiarity and trust [brand loyalty]– Understanding demographic trends
CONNECTING WITH CONSUMERS
• B2B connections– Performance and reward [best solution]– Fears [risk reduction, improve safety]– Familiarity and trust [consistency → brand
loyalty]– Understanding trends
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