Market Research Introduction

Market Research
Introduction
What is market research?
Lesson’s Objectives
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To have an awareness of different types pf
market research
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To understand the difference between
Quantitative and qualitative analysis
Purpose of market research
Diamond rank cards
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Using the key
purpose of Market
research
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Decide which is the
most to least
important ‘purpose’ of
market research
Types of Research
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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.
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There are two general types of research:
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Primary or field research
Secondary or desk research
Primary or Field Research
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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.
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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
Secondary or Desk research
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This is the use of existing data that has already been collected.
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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.
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Traditionally, these have been paper-based, but more and more
information is now available on CD-ROM or on-line through the
Internet.
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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.
You decide: Which is desk and field
research?
Use your whiteboard
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Accounts
Consumer panels
Experiments
Government statistics
Group interviews
High street surveys
Internet results
Loyalty cards
Market research publications
Observations
On line surveys
Sales record
Write
PRIMARY on one side
Now create a list
in yourAnd
notes
sorting these out
into Primary
SECONDARY
& on the other…
Secondary
Field = Primary
Desk = Secondary
The results
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Primary
Consumer panels
Experiments
Group interviews
High street surveys
Observations
On line surveys
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Secondary
Accounts
Government statistics
Internet results
Loyalty cards
Market research
publications
Sales record
Quantitative research
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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?
Government statistics…
More Government statistics
UpMyStreet.com
Qualitative research
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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
Psychological
opinions
How do you feel
when you eat
Haagen Dazs?
Watch the DVD
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Best of working Lunch
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Clip 7 Researching the Market…
Key concepts include…
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Consumer panel
What is it?
How does it operate?
What are the
limitations of a
consumer panel?
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What is the difference
between qualitative
and quantitative?
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Which is better?
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How has ICT
improved MR?
What’s the best way to research
consumer views on
Would you use primary or
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LEGO?
Zero Coke?
Dulux Paint?
Big Brother 2008?
Ryan Air service
Heathrow to Belfast?
Capital Radio?
Nuts magazine
secondary research?
Suggest 3 Qualitative Q’s &
3 Quantitative Q’s you’d
use?
What’s the connections?
Failed
market research
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
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This Friday – INSET
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Revise for assessment…. Next lesson….
Monday
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Everything that we have covered with me
this ½ term.
Plenary
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What is the difference between desk & field
research?
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Give me an example of a qualitative market
research question?
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Give me an example of a quantitative market
research question?