lobsters, wine and market research
TRANSCRIPT
Market Research:Market Research: How It Can Transform How It Can Transform
Your BusinessYour Business
Ted Clark, Professor of Marketing, SUNY New PaltzTed Clark, Professor of Marketing, SUNY New Paltzand Director, Ted Clark & Associatesand Director, Ted Clark & Associates
What is Market Research?What is Market Research?
• The function of linking the consumer to the marketer through information.
• The planning, collection, and analysis of data relevant to the marketing decision making.
• The communication of the results of the analysis to management.
Problem definition and statement of objectives
Creation of the research design
Choice of research method
Sampling selection / plan
Data collection
Data analysis
Write and present the research report
Follow-up
Does it involve hypothesisor just a statement?
Exploratory, descriptive, causal,planning, implementing, controlling
Primary/secondary - survey,focus groups, experiments, etc.
Probability vs. non-probability, sample size
Telephone, mail, mallintercept, Internet, etc.
Level & scope mustbe determined early
Determine format,font, layout, PPTs, etc.
Were recommendations followed? Ismore research needed ?
The Market Research ProcessThe Market Research Process
Survey Research:• Interviewer interacts with respondents to obtain facts, opinions, and attitudes.
Observation Research:-Descriptive research monitors respondents’ actions.
Experiments:• Measure causality• The researcher changes one or more variables and observes the changes on other variables.
Other Qualitative Research:•Research such as focus groups, interviews, secondary analysis, and case studies.
Choosing the Research MethodChoosing the Research Method
Cross Sectional Surveys:• One time snapshots of population• Use the same survey and different sample
Survey TypesSurvey Types
Longitudinal Surveys:• Identify market trends• Use the same survey and same sample• Use tracking panels & groups
Common Survey MethodsCommon Survey Methods
Telephone
E-mail/Internet
Telephone SurveysTelephone Surveys Who should conduct telephone surveys? Why?
◦ Who? Businesses/ organizations who need to understand their image or
reputation among the general public or within a specific market. ◦ Why?
Allows a firm to rapidly obtain feedback from customers in a cost-effective manner.
◦ Useful for assessing customers’ response to product or service changes or for measuring awareness.
Telephone SurveysTelephone Surveys Challenges:
◦ To reassure people that you are carrying out legitimate research to get them to participate in a telephone interview.
◦ Time limit; 10-12 minutes and no than 25 questions.
◦ Remember complex concepts are difficult to convey by telephone.
Online Survey MethodsOnline Survey Methods Web Survey Systems: Software systems designed for Web
questionnaire construction and delivery i.e. Web Survent, SurveyPro, SurveyMonkey
Survey design Web Sites/Web Hosting: Allows researcher to design a survey online without loading design software, and is administered on the design site’s server i.e. WebSurveyor, Perseus
Advantages of Online SurveysAdvantages of Online Surveys High response rates
Rapid development and real time reporting
Dramatically reduced costs
Ability to personalize and tailor the study
General higher response rates
Ability to reach hard-to-reach
Ability to change the research focus quickly
Survey MonkeySurvey Monkey http://www.surveymonkey.com/: A common, inexpensive
way to gather research in areas such as:◦ Customer insight◦ Employee feedback ◦ Event planning◦ Education and training
Choice of three inexpensive plans:◦ Free: Up to 10 questions, 100 responses per survey◦ Pro: $19.95/month, unlimited questions, 1,000 responses,
customization, security option,◦ Unlimited: $200/year, unlimited questions and responses◦ http://www.surveymonkey.com/Home_PricingDetail.aspx
Mail Survey MethodsMail Survey MethodsAd hoc surveys aka one-shot surveys:
questionnaires sent to selected names and addresses without prior contact by the researcher
Mail panels: pre-contracted and prescreened participants who are periodically sent questionnaires
Mail SurveysMail Surveys Advantages:
◦ Comparatively low data collection costs.◦ Ease of administration.◦ Good strategy for obtaining negative feedback.
Disadvantages:◦ Possibility of bias due to low response rates.◦ Need for translation for people who do not understand English.◦ Lower quality of information collected.
Conducting Marketing Conducting Marketing ResearchResearch
By using SPSS
What is SPSS?What is SPSS? SPSS is a provider of predictive analytics software and
solutions which help organizations to:◦ Predict future events.◦ Act productively upon that insight to drive better business outcomes.◦ Allow companies to make direct and automate decisions to meet
business goals and achieve measurable competitive advantage.
What is “Predictive What is “Predictive Analytics”?Analytics”? Predictive analytics:
◦ Informs and directs decision making by applying an optimization to organization’s enterprise data.
◦ Offers advantages to recognize the inherent value locked within existing enterprise data.
◦ Strategically, provides a quantitative analysis to identify, evaluate, and pursue new market opportunities.
◦ Tactically, identifies whom to target, how to reach them, when to make contact, and what messages should be communicated.
Fg.1 How Predictive Analytics works
Using SPSS for Statistical Using SPSS for Statistical AnalysisAnalysis• Descriptive Statistics:
• Summarize the importance of a data set. • Provide simple summaries about the sample and the measures.• Present quantitative descriptions in manageable forms.
• Inferential Statistics:• Test hypothesis about a set of data. • Make inferences about population based on a sample population.
The Capabilities of SPSSThe Capabilities of SPSS
Descriptive Statistics
◦Frequencies
◦Crosstabs
◦Ratios
The Capabilities of SPSS The Capabilities of SPSS (Cont’d)(Cont’d)Regression
Direct Marketing
Forecasting
Quality Control
… and more
Launching SPSSLaunching SPSS Let’s start the SPSS program:
◦ First start by clicking on the SPSS icon on your desktop. You will notice SPSS has the same basic look as other Windows
programs. You can use the Open File button on the toolbar.
Opening a Data FileOpening a Data File It will open up in a spreadsheet-like format.
Using the Data EditorUsing the Data Editor
The Data Editor displays the contents of the active data file. The information in the Data Editor consists of variables and cases.◦ In Data View, columns represent variables, and rows represent cases
(observations).◦ In Variable View, each row is a variable, and each column is an
attribute that is associated with that variable.
Entering Numeric DataEntering Numeric Data To begin the process of
adding data, simply click on the first cell and enter data.
Notice that entering data on SPSS is exactly like entering data on a spreadsheet.
Entering data for the first time might automatically generate variable names.◦ To change the name, double
click on the variable name button.
◦ A dialog box will appear so you can correctly label your data.
A Sample Frequency A Sample Frequency AnalysisAnalysis
• Let’s examine the summary measure of categorical data on a specific example.
• In this example, we'll examine the people who have TV or PDA (personal digital assistant) ownership.
Descriptive StatisticsDescriptive Statistics Frequencies:
◦ This command is used to obtain counts on a single variable's values.
• The Frequencies procedure produces frequency tables that display both the number and percentage of cases for each observed value of a variable. -From the menus choose:
1. Analyze2. Descriptive
Statistics3. Frequencies...
Creating Frequency OutputCreating Frequency Output Select Owns PDA
[ownpda] and Owns TV [owntv] and move them into the Variable(s) list.
Click OK to run the procedure.
Sample Frequency Analysis Sample Frequency Analysis OutputsOutputs After the completion of the frequency analysis, the
results are shown as below.
Descriptive Statistics (Cont’d)Descriptive Statistics (Cont’d) Crosstabs (Contingency Tables):
◦ Cross-tabulation tables (contingency tables) display the relationship between two or more categorical (nominal or ordinal) variables.
◦ The size of the table is determined by the number of distinct values for each variable, with each cell in the table representing a unique combination of values.
◦ Numerous statistical tests are available to determine whether there is a relationship between the variables in a table.
A Sample CrosstabA Sample Crosstab• Let’s examine What factors affect the products that people buy?
oThe most obvious is probably how much money people have to spend.
•In this example, we'll examine the relationship between income level and PDA (personal digital assistant) ownership.
Descriptive Statistics (Cont’d)Descriptive Statistics (Cont’d) Crosstabs:
◦ This command is used to obtain counts on more than one variable's values.
Creating a Crosstabs OutputCreating a Crosstabs Output Select Income
category in thousands (inccat) as the row variable.
Select Owns PDA (ownpda) as the column variable.
Click OK to run the procedure.
A Sample Crosstabs OutputA Sample Crosstabs Output After the cross tabulation, the results shows us the
relationship between income level and PDA (personal digital assistant) ownership as below.
Creating and Editing ChartsCreating and Editing Charts You can create and edit a wide variety of chart types. In
this example, we will create and edit three commonly used types of charts:◦ Simple bar chart◦ Pie chart◦ Scatter-plot with groups
Basic Chart Builder Basic Chart Builder The Chart Builder
dialog box is an interactive window that allows you to preview how a chart will look while you build it.
Sample Bar Chart OutputSample Bar Chart Output In this example, the bar chart reveals that respondents
who are more satisfied with their jobs tend to have higher household incomes.
SPSS Demonstration SPSS Demonstration VideoVideo
On YouTube
Benefits of Using SPSSBenefits of Using SPSS Strengthen customer
relationships◦ Develop cost-effective marketing
campaigns.◦ Improve customer acquisition by
understanding the habits, characteristics, and attitudes of your most profitable customers.
◦ Minimize the loss of desirable customers.
◦ Deepen your understanding of current and prospective customers through survey research.
◦ Monitor customer satisfaction levels to spot any perceived problems with your products or services.
◦ Increase the usability and strategic value of your Web sites.
Minimize risk◦ Identify credit risk among credit
applicants.◦ Detect and minimize the effect of
fraudulent claims or transactions.◦ Uncover the patterns of suspicious
behavior that merit further investigation.
Deploy analytical products and applications◦ Perform standard or customized
product implementations.◦ Convert data files and design
audit services.◦ Develop and deploy predictive
models◦ Build multidimensional databases.◦ Design automated reporting
processes◦ Optimize system resources.
Accessibility of SPSSAccessibility of SPSSSPSS can be purchased electronically or physically
through its company website:◦www.spss.com
Trial version is also available for 21 days.Purchasing software will require a creation of an
accountPrice Range: $999-$1,799 Instructional books and software are also available
through Pearson, Amazon, and Ebay $156-$269.
Decide carefully before Decide carefully before conducting…conducting…
The resources are lacking The research results might not be useful The opportunity has passed The decision has already been made Managers cannot agree on what they need to know to
make a decision Decision-making information already exists The research cost outweighs the benefits of the research You do not have the time to do the research right The research results will likely only be shelved
Questions?Questions?
http://tedclarkandassociates.com/TedClarkandAssociates/TEDC.html
[email protected]://www2.newpaltz.edu/~clarkt/