Marketing Research

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Marketing Research

• Friday, November 10

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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.

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Marketing research goals

• UNDERSTAND
• EXPLAIN
• MEASURE
• FORECAST
• VERIFY

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Marketing research content

• PRODUCT ANALYSIS
• CONSUMER ANALYSIS
• COMPETITOR ANALYSIS
• DISTRIBUTOR ANALYSIS
• ENVIRONMENTAL ANALYSIS

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Marketing research process
Define problem and research objectives
Develop the research plan
Collect the information
Analyze the information
Present the findings
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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
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Types of marketing research
EXPLORATORY

• Documentary
• Qualitative

DESCRIPTIVE

• Documentary
• Quantitative

CAUSAL

• Experimentation
• Observation

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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

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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

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Information Sources

• Secondary sources Existing data. All forms of
  documentary research.
• DESK RESEARCH
• Primary sources Data collected for a specific
  situation at companys request.
• FIELD RESEARCH, AD HOC
• These sources can be internal or external.
• The choice will depend on the marketing problem,
  objectives, resources

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Information sources
Secondary 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
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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?

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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.

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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
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Sequence and relationship between different
sources of information
SECONDARY SOURCES (Desk Research)
Internal
External
PRIMARY SOURCES (Field Research)
Qualitative
Quantitative