Recap last lesson..

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Recap last lesson..

• Why is marketing important?

• Economic growth increase in real disposable
  income of consumers, so growth in demand for
  products and services
• Fashion ever-changing fashion, tastes and
  lifestyles
• Technology rapid technological advancement has
  occurred, especially in electronics. New products
  appearing all the time.
• Competition more firms and products competing.
  Increased competition form global markets

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What are Marketing objectives?

• Goals or targets that must be achieved by the
  marketing dept.
• Objectives must be SMART!

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Objectives.such as?
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What is the difference between NICHE and MASS
market?
So how does a business know what its customers
want?
Mass market
Range of customers
Niche
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Market Research

• Introduction

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What is market research?
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Lessons Objectives

• To have an awareness of different types pf market
  research
• To understand the difference between Quantitative
  and qualitative analysis

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Purpose of market research
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Types of Research

• Market research is the collection of information
  or data to better understand what is happening in
  the market place. A firm's marketing department
  needs to know about economic trends, as well as
  consumers' views. Based on this information, they
  can put together a marketing plan, which will
  meet their own needs as well as those of their
  consumers.
• There are two general types of research
• Primary or field research
• Secondary or desk research

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Primary or Field Research

• Obtaining new data for a specific purpose. The
  marketing department of a firm or a specialist
  research organisation can provide this.
  Typically, the data is gathered by face-to-face
  interviews, by telephone or by post, using
  questionnaires. This is called a survey.
  Sometimes potential consumers are asked to test
  products, and their responses are recorded.
• Field research has the advantage that the firm
  itself has control over the whole process. The
  disadvantages are that it takes longer, and costs
  more

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Secondary or Desk research

• This is the use of existing data that has already
  been collected.
• It can be anything from a company's own sales
  statistics to Department of Trade and Industry
  reports. Other secondary sources of information
  include journals, company reports, government
  statistics, and surveys published by research
  organisations.
• Traditionally, these have been paper-based, but
  more and more information is now available on
  CD-ROM or on-line through the Internet.
• Desk research has the advantages of being cheaper
  and quicker than field research. The
  disadvantages are not knowing if the findings are
  accurate, or how relevant they will be to your
  product.

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You decide which is desk and field research?
Field Primary Desk Secondary

• Accounts
• Consumer panels
• Experiments
• Government statistics
• Group interviews
• High street surveys
• Internet results
• Loyalty cards
• Market research publications
• Observations
• On line surveys
• Sales record

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Quantitative research

• Statistical basis
• Gathers numerically measurable data
• Sampling plays a key role
• Data obtained through surveys
• Concerned with obtaining hard data

Age? Gender? Income bracket? How often do you
shop at X?
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Government statistics
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More Government statistics
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Qualitative research
Psychological opinions

• Subjective and personal
• Gathers soft data
• Main purpose is to understand consumer behaviour,
  attitudes and perceptions
• Obtained by methods designed to get detailed
  responses
• Research topics usually explored in some depth

How do you feel when you eat Haagen Dazs?
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Whats the best way to research consumer views on
Would you use primary or secondary
research? Suggest 3 Qualitative Qs 3
Quantitative Qs youd use?

• LEGO?
• Zero Coke?
• Dulux Paint?
• Big Brother 2006?
• Ryan Air service Heathrow to Belfast?
• Capital Radio?
• Nuts magazine

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worksheet
Qualitative Qs
Quantitative Qs
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Whats the connections?
Failed market research
Salads at MacDonald's
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Need to add for next lesson

• Size and type of sample (random and quota)
  problems with sampling and research methods
  analysing survey results
• A qualitative understanding of statistical
  significance of sample findings.
• Candidates are not expected to calculate standard
  deviations or confidence levels only a verbal
  understanding is required (eg of a phrase such as
  .a 95 confidence level.)