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

Collect the informationAnalyze the information

Present the findings

Research design• The research design formally describes the

characteristics of the survey and the procedures used to conduct the study.

• 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

DESCRIPTIVE

CAUSAL

-Documentary

-Qualitative

-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…- Quantitative research: surveys, polls…

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…

Information sourcesSecondary Primary

Internal 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

Secondary Primary

Advantages Low in cost

Diversity

Available

Problem definition

Familiar with market

Adapted information

Recent, up-to-date

Not available to competitors

Disadvantages Incomplete, outdated

Inadequate

False information

Difficult to control

Costly

Difficult to collect

Time consuming

Sequence and relationship between different sources of

informationSECONDARY SOURCES

(Desk Research)

Internal External

PRIMARY SOURCES

(Field Research)

Qualitative Quantitative