research marketing mbm

Market research methods and strategic analysis tools

12/01/2015 - Gaëlle BRAYER-JAOUEN

Who are you ? 2mn chrono

Why are you here ?

which jobs are you expecting ?

What are you waiting for this course ?

L’Innovation, Mode d’Emploi…

Learning objectives

• 1 Recognize that research is an integral component of marketing strategy

• 2 Define marketing research

• 3 Describe the development of marketing research as a profession / describe studies

• 4 Explain how marketing research is incorporated into the marketing plan


What is marketing research ?

• who knows what it is ?

• who already have conducted one ?

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Your work / evaluation

• Saturday, you will present your own marketing research by group !

• you can make extrapresentation of Pinterest

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pinterest.com/gaelleveille/etude-de-marché

L’Innovation, Mode d’Emploi… 6

http://fr.slideshare.net/vinhfc/vietnam-pharmaceutical-industry-and-investment-strategy-presentation

L’Innovation, Mode d’Emploi… 7http://fr.slideshare.net/vinhfc/vietnam-pharmaceutical-industry-and-investment-strategy-presentation


What is marketing research ?

• the objective and systematic process of obtaining, analyzing and reporting data for decision making

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http://fr.slideshare.net/plmrx/market-research-course-slides?related=3


what kind of decisions ?

• Consists of activities that enable an organization to obtain the information it needs to make decisions about its:

- Environment

- Marketing Mix

- Present or potential customers

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• what was the decision to be made by the presented example of marketing research ?

• what is the decision to be done, the marketing question of your project ?

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Defining Marketing Research

• 1. ‘Identify and define marketing opportunities and problems’ means using research to explore the external environment.

• 2. ‘Generate, refine and evaluate marketing actions’ means using research to determine whether the company is meeting consumer needs.

• 3. ‘Monitor marketing performance’ means using research to confirm whether the company is meeting the goals it has set.

• 4. ‘Understanding marketing as a process’ means using research to learn to market more effectively.


Objectives

• Identify markets

• Characteristics of markets

• Market trends

• Market changes

• Market opportunities/threats

• Effectiveness of marketing activities

• Analysis of competition

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market research vs marketing research ?

• Market Research Researching the immediate competitive environment of the marketplace, including customers, competitors, suppliers, distributors and retailersMarketing

• Research Includes all the above plus: - companies and their strategies for products and markets - the wider environment within which the firm operates (e.g., political, social, etc) 21

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Top 10 marketing research

• Market measurement 18%

• New Product development / concept testing 14%

• Ad or Brand awareness monitoring / tracking 13%

• Customer satisfaction (incl. Mystery Shopping) 10%

• Usage and Attitude studies 7%

• Media research & evaluation 6%

• Advertising development and pre-testing 5%

• Social Surveys for central/local governments 4%

• Brand/corporate reputation 4%

• Omnibus studies 3%

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Source: Business Management Research Associates, Inc. 22


when not to conduct marketing research ?

45http://fr.slideshare.net/plmrx/market-research-course-slides?related=2


How to conduct marketing research ?

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Develop a plan for gathering information efficiently

• - Will you need to find extensive market data? Analyzing existing data can help you make decisions about the future of your business, but finding useful, accurate data can be difficult.

• - Will you need to do independent research? Creating your own data from surveys, focus groups, interviews, and more can tell you lots about your company and the market it operates in, but these projects require time and resources that can also be spent on other things

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http://www.wikihow.com/Image:Conduct-Market-Research-Step-5.jpg


which market data ?

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which market data ?

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• demand data / Present or potential customers

• supply data / competitors and retailers,

• environment data

• firm / marketing mix


how getting useful and existing informations ?

• Use government sources of industry data.

• Use data from trade associations.

• Use data from trade publications.

• Use data from academic institutions.

• Use data from third-party sources.

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pinterest.com/gaelleveille/vietnam/


performing your own research

• Qualitative research is where you seek an understanding of why things are a certain way. For example, a researcher may stop a shopper and ask them why they bought a particular product or brand.

• Quantitative research refers to measuring market phenomena in a numerical sense, such as when a bank asks consumers to rate their service on a scale of one to ten.

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sampling

• Population : the group of people we wish to most research cannot test understand. Populations are often segmented by demographic

• Sample : a subset of population that represents the whole

• Most research cannot test everyone. Instead a sample of the whole population is selected and tested. If this is done well, the results can be applied to the whole population. This selection and testing of a sample is called sampling.

• If a sample is poorly chosen, all the data may be useless. everyone.

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Quantitative research - Surveys

• Surveys involve asking a series of questions to a sample of the target population that is large enough to be statistically valid.

• Surveys generally offer primarily closed ended questions, although some openended questions may be included. Surveys can be administered by mail, telephone, email, Internet or in person.

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Best uses• Develop a profile of your users :

- Identify client segments

- Determine client characteristics

• Validate or prioritize customer needs

• Assess client satisfaction

• Gauge customer awareness :

- General awareness about your business

- Postadvertising campaign awareness

• Track changes in attitudes and opinions

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Methodological considerations

• Ensure that your sample size and composition are appropriate:

- Be clear about whether you are sampling the public, your target audience or clients, or a subsegment of any of these.

• Use one or more questions to “qualify” respondents, for example, to ensure that they fit the profile for your survey.

• Always pretest the questionnaire with a selection of users to ensure that the questions are clear and do not take too long to complete.

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Specific considerations for online surveys:

• Online surveys should take only five minutes (ideal) to fifteen minutes (maximum) to complete.

• Users selfselect ; you may wish to have a question that categorizes them and removes the results from those that do not fit your sample. For example, if you want to gauge the information needs of clients who have used your products, but 25% of survey respondents have never used your product, it may be appropriate to exclude the results of the nonusers from your survey results.

• If you are using an online survey, create enable an invitation to participate in the survey. This can include a link on your website.

• Put measures in place to ensure that the survey is live, functioning and capturing the data.

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Specific considerations for telephone surveys

• Telephone surveys should be limited to a maximum of 15 to 20 minutes.

• Ensure you have adequate systems / software for capturing data (Excel, Statistical Package for the Social Sciences, and so on).

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Type of survey questions / the rule

• 1) Always link your question to research aims and objectives

- Ensure the question provides the information needed to fulfill the research objectives

• 2) Keep your questions SHORT AND SIMPLE so the respondents have the best chance to understand them.

- The question should only ask one question.

- The question must be worded appropriately for the target population.

- The question must be clear, precise, and unambiguous.

- Make the question simple to understand.

- Avoid unnecessary adjectives and adverbs.

- Avoid negatives and double negatives.

- prefer closed ended questions

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Examples of non-testable research questions are:

• What do customers feel is fair price for the new product?

• How do customers feel about our service?

• How do customers feel about the quality of our products?

• What are employee's attitudes towards the new management?

• What changes would improve employee productivity?

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• 3) Avoid emotional responses

- Don’t use emotionally loaded words.

- Use wording that minimizes the risk of socially acceptable responses

- The question wording should not lead the respondent to answer in a particular way.

• 4) Put the question in context

- The wording of the question should not make unwarranted assumptions.

- The wording should follow a natural order from the previous question.

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• 5) Closed question must include the appropriate answer set

- All likely answers should be included in the answer set.

- Answers are mutually exclusive (no overlap).

- Answers are exhaustive (no gaps).

- The answer set includes a “Don’t know” or “No opinion” option.

• 6) Consider the response when developing the question

- Is any recall required within a respondents memory capabilities?

- Is the respondent likely to have an answer readily available?

- Will the respondent feel uncomfortable answering this question?

- Are some of the answers more socially acceptable than other answers?

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Example: Acme Clinic Asks...

• Open-ended: How courteous are the people who make your appointments?

• Closed-ended: The people who make my appointments are courteous. Circle one:

- 1 = Definitely agree

- 2 = Agree

- 3 = Disagree

- 4 = Definitely disagree

- 5 = Don’t know

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• 7) Closed question must include the appropriate answer set

- All likely answers should be included in the answer set.

- Answers are mutually exclusive (no overlap).

- Answers are exhaustive (no gaps).

- The answer set includes a “Don’t know” or “No opinion” option.

• 8) Consider a "Don't Know" response

- It is useful to allow people to say they simply do not have an opinion about a topic. However, some investigators worry that people will opt for that choice, reducing the ability to analyze responses. Evidence shows that this fear is largely unfounded. The goal of your research should help you decide if a "Don't Know" option would be wise. For example, if you only want information from those with an informed opinion or higher interest, offer a "Don't Know" choice

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• 9) Provide a meaningful scale

- The end points of response scales must be anchored with meaningful labels. For example, "Please rate your satisfaction with customer service. Let’s use a scale where 5 means 'Very Satisfied' and 1 means 'Very Dissatisfied.'" You could also give each point on the scale a label.

• The number of scale points (4,6 or 8) can have little effect on the conclusions you draw later. Choosing how many points, then, is often a matter of taste. There are three things to remember when constructing a response scale.

- First, an odd number of points provides a middle alternative. This is a good way to provide respondents with moderate opinions a way out (similar to the "Don’t Know," choice above). prefer even number to help people to make a choice and add « don’t know »

- Secondly, if measuring extreme opinions is critical, use a scale with a greater number of points.

- Finally, you generally gain nothing by having a scale with more than 7 points and will probably find that you will collapse larger scales when it comes time to analyze the data.

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• 10 ) for consumer, put demographic questions at the end of the questionnaire, if possible.

- There are at least two reasons for this. First, some demographic questions such as age and income can be sensitive and should be placed at the end.

- Second, it is better to keep respondents' minds on the purpose of the survey at the beginning, while you have their attention. Demographic questions rarely require much thought, so wait until the end when respondents might be tired.

- 11 ) for professional put introducing questions at the beginning of the questionnaire, if possible.

- name of the firm, number of unemployees,

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performing your own research

• Qualitative research is where you seek an understanding of why things are a certain way. For example, a researcher may stop a shopper and ask them why they bought a particular product or brand.

• Quantitative research refers to measuring market phenomena in a numerical sense, such as when a bank asks consumers to rate their service on a scale of one to ten.

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Qualitative research

• face to face interview are semistructured discussions with an individual. They include openended questions where the interviewer can probe further to understand underlying perceptions and behaviours.

• Focus groups are moderated group interviews and brainstorming sessions that provide information on users' needs and behaviours.

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Best uses• Exploratory — Obtain information on general attitudes,

understand the circumstances under which customers might require your product or service (triggers), understand their desired outcomes, and so on.

• Feature prioritization — If tradeoffs have to be made among various customer needs, focus groups can be helpful in prioritizing them.

• Comparative analysis — Understand where else customers go to get similar information, services or products and what attracts them to those sources.

• Trend explanation — If you notice a trend in the way that customers use your website (for example, they always use the search function rather than navigating through the structured product list), then focus groups can be used to better understand why this is happening.

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Methodological considerations

• Limit the length of the session to between 90 and 120 minutes.

• Generally, conduct focus groups with 8 to 10 participants per group (recruit 10 to 12 participants to ensure that 8 to 10 show up).

• Use a knowledgeable moderator who can manage group dynamics, probe skilfully to obtain deeper understanding of issues and capture a broad spectrum of opinions.

• Use a semistructured or openformat discussion.

• Strive for uniformity in the group's composition. For example, it may not be advisable to have business customers and retail customers in the same focus group, if their needs are very different.

• If you feel that group influence is likely to be a strong factor (participants will be influenced greatly by what others are saying), then personal interviews or smaller groups may be an option to consider.

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Analyse and interpret the data

• You must attach meaning to the data you have collected during your market research to make sense of it and to develop alternative solutions that could potentially solve your business problem.

• You should determine how the knowledge you have gained through researching your market can be applied and used to develop effective business strategies.

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• Answer the original question that led to your research.

- At the very beginning of the market research process, you set goals for research.

- These are typically questions relating to your business's strategy that you are attempting to answer — for instance, whether or not to pursue a certain investment, whether or not a certain marketing decision is a good idea, and so on.

- The primary goal of your market research should be to answer this question. Because the goals of market research projects vary so greatly, the exact information required to give a satisfying answer for each will vary.

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Analyse and interpret the data


quantitative research analysis

• quantitative data analysis, using numbers to discover and describe patterns in your data, is the most elementary use of social statistics.

• Some statistics are useful for describing the results of measuring single variables or for constructing and evaluating multi-item scales. These statistics include frequency distributions, graphs, measures of central tendency and variation, and reliability tests.

• Other statistics are used primarily to describe the association among variables and to control for other variables, and thus, to enhance the causal validity of our conclusions. Cross-tabulation, for example, is one simple technique for measuring association and controlling other variables ; All of these statistics are termed descriptive statistics, because they describe the distribution of and relationship among variables.

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excel analysis tutorial

• http://www.excel-easy.com/data-analysis.html

• https://www.youtube.com/watch?v=5onRdAa2Gv0

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https://www.youtube.com/watch?v=5onRdAa2Gv0


perform PEST analysis

• PEST analysis is a scan of the external macro-environment in which an organisation exists.

• It is a useful tool for understanding the political, economic, socio-cultural and technological environment that an organisation operates in.

• It can be used for evaluating market growth or decline, and as such the position, potential and direction for a business.

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perform PEST analysis

• Political factors. These include government regulations such as employment laws, environmental regulations and tax policy. Other political factors are trade restrictions and political stability.

• Economic factors. These affect the cost of capital and purchasing power of an organisation. Economic factors include economic growth, interest rates, inflation and currency exchange rates.

• Social factors. These impact on the consumer’s need and the potential market size for an organisation’s goods and services. Social factors include population growth, age demographics and attitudes towards health.

• Technological factors. These influence barriers to entry, make or buy décisions and investment in innovation, such as automation, investment incentives and the rate of technological change.

• PEST factors can be classified as opportunities or threats in a SWOT analysis. It is often useful to complete a PEST analysis before completing a SWOT analysis.

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Perform SWOT analysis

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Perform « Porter’s five forces" analysis

• Porter's five forces of competitive position analysis was developed in 1979 by Michael E. Porter of Harvard Business School as a simple framework for assessing and evaluating the competitive strength and position of a business organisation.

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Perform « Porter’s five forces" analysis / The five forces are :

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• 1. Supplier power. An assessment of how easy it is for suppliers to drive up prices. This is driven by:

- the number of suppliers of each essential input

- the uniqueness of their product or service

- the relative size and strength of the supplier

- the cost of switching from one supplier to another.

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• 2. Buyer power. An assessment of how easy it is for buyers to drive prices down. This is driven by:

- the number of buyers in the market

- the importance of each individual buyer to the organisation

- the cost to the buyer of switching from one supplier to another.

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• 3. Competitive rivalry.

- The key driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.

• 4. Threat of substitution.

- Where close substitute products exist in a market, it increases the likelihood of customers switching to alternatives in response to price increases. This reduces both the power of suppliers and the attractiveness of the market.

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• 5. Threat of new entry.

- Profitable markets attract new entrants, which erodes profitability. Unless incumbents have strong and durable barriers to entry, for example, patents, economies of scale, capital requirements or government policies, then profitability will decline to a competitive rate.

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Find new target markets

• In simple terms, a target market is the group (or groups) of people your business promotes, advertises, and ultimately attempts to sell its products or services to.

• Data from market research projects that reveals that certain types of people react preferentially to your business can be used to focus your business's limited resources on these specific people, maximizing competitiveness and profitability.

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define your marketing mix

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The perfect product must provide value for the customer.

• This value is in the eye of the beholder — we must give our customers what they want, not what we think they want

• A product does not have to be tangible — an insurance policy can be a product

• Ask yourself whether you have a system in place to regularly check what your customers think of your product, your supporting services, etc, what their needs are now and whether they see them changing

• Beware going too far with product quality. Don’t try to sell a Rolls- Royce when the customer really wants a Nissan Micra

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Thinking of price as ‘cost’ to the customer helps to underscore why it is so important

• Price positions you in the marketplace — the more you charge, the more value or quality your customers will expect for their money

• Existing customers are generally less sensitive about price than new customers — a good reason for looking after them well

• If you decide in favour of a higher priced added-value approach, remember that price ‘positions’ you in the marketplace. This means it gives an indication to potential and existing customers of where to place you in relation to your competitors. Expectations will generally be higher; customers will assume a higher quality product or service. Everything about your dealings with customers must live up to the expectations of this positioning. Anything that can be seen by the customer must be consistent with these higher quality expectations — packaging, environment, promotional materials, letterheads, invoices, etc

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perfect place

• Customer surveys have shown that delivery performance is one of the most important criteria when choosing a supplier

• Place also means ways of displaying your product to customer groups. This could be in a shop window, but it could also be via the internet

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Good promotion is not one-way communication — it paves the way for a dialogue with customers

• Promotion should communicate the benefits that a customer obtains from a product, and not just the features of that product

• Whether your promotional material is a single sheet or a complex brochure, folder or catalogue, it must grab the attention of your customers. It should be easy to read and enable the customer to identify why they should buy your product

• A brochure isn’t necessarily the best way of promoting your business, the problem being that once a brochure has been printed, the information is fixed. You can’t change or remove anything should the need arise. A more cost effective and flexible option might be a folder with a professionally designed sheet inside, over a series of your own information sheets produced in-house. These sheets can be customised by varying them to suit the target customers and/or changing them as required

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Traditionally, adding the sixth and seventh Ps would be for service industries. However, they are worth considering for products too, especially in B2B.

• It is essential to ensure that all employees who have contact with customers are not only properly trained, but also the right kind of people for the job

• Many customers cannot separate the product or service from the staff member who provides it. This shows the importance of your people

- The level of after sales support and advice provided by a business is one way of adding value to what you offer, and can give you an important edge over your competitors. This will probably become more important than price for many customers once they start to use you

- Look regularly at the products that account for the highest percentage of your sales. Do these products have adequate after sales support, or are you being complacent with them? Could you enhance your support without too much additional cost?

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Customers are not interested in the detail of how your business runs. What matters to them is that the system works

• Do customers have to wait? Are they kept informed? Are your people helpful? Is your service efficiently carried out? Do your people interact in a manner appropriate to your service?

• Process is one of the 'P's that is frequently overlooked. A customer trying to reach your company by phone is a vital source of income and returning value; but so often customers have to stay on hold for several minutes listening to a recorded message before they are able to get through. Many of these customers will give up, go elsewhere and tell their friends not to use your company - just because of the poor process that is in place. Even if they do get through, they will go away with a negative impression of the company.

• The reason for this is that the systems are not usually designed by marketers - they are designed for the company's benefit, not the customer's.

• This part of the process is the first experience of a company that many customers have. There's no value in making the rest of the company run perfectly if this part is faulty. As a consequence, this 'P' could be a great source of competitive advantage if used wisely.

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This uncertainty can be reduced by helping potential customers to ‘see’what they are buying

• Case studies and testimonials can provide evidence that an organisation keeps its promises. Facilities such as a clean, tidy and well-decorated reception area can also help to reassure. If your premises aren’t up to scratch, why would the customer think your service is?

• • The physical evidence demonstrated by an organisation must confirm the assumptions of the customer — a financial services product will need to be delivered in a formal setting, while a children’s birthday entertainment company should adopt a more relaxed approach

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other people with experiences

• Although the customer cannot experience the service before purchase, he or she can talk to other people with experiences of the service. Their testimony is credible, because their views do not come from the company.

• Some companies engage these customers and ask for their feedback, so that they can develop reference materials. New customers can then see these testimonials and are more likely to purchase with confidence.

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sources…

• http://fr.slideshare.net/plmrx/market-research-course-slides?related=2

• BNET Business Directory (2007). Strategic analysis. / http://dictionary.bnet.com/definition/Strategic+Analysis.html

• Boulton, Dr. W.R. (2001). Understanding the strategic analysis model. www.auburn.edu/~boultwr/index.html

• Businessballs (2006). PEST market analysis tool. - www.businessballs.com/pestanalysisfreetemplate.htm

• Businessballs (2006). Porter’s five forces model. www.businessballs.com/portersfiveforcesofcompetition.htm

• Mindtools (2007). SWOT analysis: discover new opportunities. Manage and eliminate threats www.mindtools.com/pages/article/newTMC_05.htm

• Quick MBA (2007). PEST analysis. www.quickmba.com/strategy/pest/

• Quick MBA (2007). Porter’s five forces. www.quickmba.com/strategy/porter.shtm

• Skillsoft Corporation (2007). Value chain analysis. http://rhi.skillport.com/SkillPortFE/login/login.cfm

• http://www.wikihow.com/Conduct-Market-Research

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http://rhi.skillport.com/SkillPortFE/login/login.cfm

http://www.wikihow.com/Conduct-Market-Research


sources

• www.groupevectis.com/2014/05/26/les-4p-du-marketing-mix-ou-6-7-9

• www.etudier.com/dissertations/Comment...Mix-Marketing.../494247.htm...

• http://marketingdecrypte.com/2013/01/22/comment-le-mix-marketing-est-passe-de-4p-a-10p/

• pinterest.com/gaelleveille/etude-de-marché

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http://www.groupevectis.com/2014/05/26/les-4p-du-marketing-mix-ou-6-7-9

http://www.etudier.com/dissertations/Comment...Mix-Marketing.../494247.htm


http://pinterest.com/gaelleveille/etude-de-march%C3%A9

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