Market Research

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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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Diamond rank cards

• Using the key purpose of Market research
• Decide which is the most to least important
  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?
Now create a list in your notes sorting these
out into Primary Secondary
Use your whiteboard Write PRIMARY on one side
And SECONDARY on the other

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

Field Primary Desk Secondary
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The results

• Primary
• Consumer panels
• Experiments
• Group interviews
• High street surveys
• Observations
• On line surveys

• Secondary
• Accounts
• Government statistics
• Internet results
• Loyalty cards
• Market research publications
• 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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UpMyStreet.com
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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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Watch the DVD

• Best of working Lunch
• Clip 7 Researching the Market

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Key concepts include

• Consumer panel
• What is it?
• How does it operate?
• What are the limitations of a consumer panel?

• What is the difference between qualitative and
  quantitative?
• Which is better?
• How has ICT improved MR?

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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 2008?
• Ryan Air service Heathrow to Belfast?
• Capital Radio?
• Nuts magazine

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Whats the connections?
Failed market research
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Issues with Market Research and start up
businesses?

• Can a start up business afford market research?
• Can you afford not to do any research?
• What are the consequences of not doing market
  research?
• What type of market research would a start up
  business use?

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Homework

• This Friday INSET
• Revise for assessment. Next lesson. Monday
• Everything that we have covered with me this ½
  term.

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Plenary

• What is the difference between desk field
  research?
• Give me an example of a qualitative market
  research question?
• Give me an example of a quantitative market
  research question?