Please enable JavaScript.
Coggle requires JavaScript to display documents.
Marketing Research (The roles of marketing research (What information can…
Marketing Research
The roles of marketing research
Market research and marketing resrach are often used interchangeably
AMA Def
Function that links the consumer, customer and public to the marketer through information
Information used for
Identifying and defining market opportunities & problems
Generate, refine and evaluate marketing actions
Monitor marketing performance
Improve understanding of marketing as a process
Marketing research specifies
The information required to address the identified issues
Designs the method for collecting information
Manages and implements the data collection process
Analyses the results
Communicates their findings and implications
ISBA Def
Market research is the collection and analysis of information about markets, organisations and people to support better business decisions
The ISBA Guide to Market Research
Incorporated Society of British Advertisers
Stressed values
Embedding research in an organisations strategic plans
Ensuring that is 'fit for purpose'
Ask the following questions at the start of the business planning cycle
What are the strategic corporate goals?
What information is needed to achieve them?
What research is needed to deliver the information?
Who will use it and how?
Did the information make a difference?
What information can research provide?
Behavioural
How do consumers behave - what do they do and why?
Attitudal
Enable organisations to assess a range of perceptions and opinions relating to customer satisfaction & preference in the provision of services & products
Product development
Identify new trends and changing habits, and help a business stay ahead of its target market, as well as testing new products and strategies before they are launched
Policy development, implementation & evaluation
Can provide effective evaluation at every stage of policy deployment
Public consultation
Can help acclimatise government thinking with public opinion
Communications
Can enable two-way dialogue with key stakeholders and inform the selection of effective channels of communication
Public relations
Can help companies understand the behaviour & attitudes of target audiences, helping them with successful media positioning and branding
Market measurement
Identifying the sizes, composition and profile of different markets (market segmentation) & tracking changes & trends over time.
Conducted to improve decision making
Marketing research in small businesses & not for profit organisation
Can still be conducted by small businesses and not for profit organisations
They do not always have the same resources as larger companies
They can...
Make use of secondary data
Talk to customers or users
Use informal surveys
Search the internet
Observe competitors
Care needs to be taken in regards to bias
Research needs to ensure that it complies with data protection legislation in handling customers' personal data
Ethics and marketing research
Safeguarding is very important
Raises ethical issues relating to...
Privacy
Protecting research participants from harm
The use to which the findings are put
Consumers may feel uneasy about what people know
Behaviour
Preferances
Habits
Lifestyles
Online presence
People are especially now less receptive with the increase of cold callers
Guidelines and codes to ensure high standard
UK's MR's Code of Conduct
AMA's Code of Ethics
Canadian Marketing Association's Code of Ethics
Data protection legislation
Safeguard of all personnel
The process of marketing research
To be employed effectively, marketing research needs to be carried out using careful planning at each stage.
Stage 1 - Research planning
Defining the issues to research; objectives, key questions or hypotheses
Research brief and proposal (if external agency)
Initial research design of sampling, method and analysis
Stage 2 - Exploratory measures
Exploration of secondary research
Piloting of primary research
Stage 3 - Refining the research design
Adjustment of research design informed by exploratory research
Stage 4 - Main research collection
Collecting the primary research data
Stage 5 - Analysis and interpretation
Statistical analysis or qualitative analysis
Stage 6 - Reporting of findings
Written report and presentation
Make sure that the research will answer the questions you are asking
Obtaining data from a relevant sample
Using a method conducive to participation by target respondents
Designing appropriate measures/questions
Collecting data in a suitable format that will allow it be quantified and understood
Careful planning and preparation
Types of data collection
Principle types of marketing information
Organisational records
Collected as part of an organisations activities
Examples
Sales data
Complaints records
Loyalty scheme data
Website useage
Accounting records
Marketing research
Can either be collected directly for the purpose in hand (primary) or have been conducted for other purposes and be relevant for the purpose in hand (secondary)
Primary
Quantitative
Survey data
Observation data
Experimental data
Diary data (numerical)
Tracking data
Qualitative
Interview data
Focus group data
Projective techniques data
Diary data (textual)
Accompanied shop
Secondary
Qualitative/Quantitative
Customer research on another project
Research on customer behaviour patterns
Can be conducted
Face to face
By post
By telephone
Online
Marketing intelligence
External and includes publicly available information and purchased reports about the micro/macro environment
Examples (External, quant/qual)
Websites & forums
Observation
News articles & reviews
Trade publications
Books and periodicals