Marketing Research and Consumer Insight

Question 1

What is it?

Answer 1

Specific marketplaces and describes people in them.

Assists management function - fine-tune marketing mix.

Gathering and interpreting information - gain insight and support decision making.

Question 2

Research Types: Applied

Answer 2

Solves a problem, e.g. why are sales decreasing?

Question 3

Research Types: Basic

Answer 3

Solves theoretical need, e.g. why do people shop?

Question 4

Uses of Marketing Research: Segmentation

Answer 4

Product purchased, lifestyle, demographics etc.

Question 5

Uses of Marketing Research: Competitor Analysis

Answer 5

Strategies, strength, limitations etc.

Question 6

Uses of Marketing Research: NPD

Answer 6

New concepts, replacements, appeal etc.

Question 7

Uses of Marketing Research: Pricing

Answer 7

Value, demand - what will people pay?

Question 8

Uses of Marketing Research: IMC

Answer 8

Effectiveness, attitudinal research - do people get the message?

Question 9

Primary vs. Secondary Data

Answer 9

Primary = Originates from researcher for specific purpose.

Secondary = Previously gathered for a different purpose.

Question 10

Types of Secondary Data: Internal

Answer 10

Ready to use, requires further processing.

Question 11

Types of Secondary Data: External

Answer 11

Published material, e.g. computerised database.

Question 12

Internal Data: Examples

Answer 12

Marketing Databases - Email mailing lists.

CRM Systems - Tesco Clubcard.

Website Analysis - What are people visiting and clicking the most?

Question 13

Internal Databases

Answer 13

Collection of data from within the company, e.g. MyCoke by Coca-Cola.

Question 14

Internal Databases: How?

Answer 14

Stakeholder Details - customers, employees.

Salesperson call report - cold callers.

Sales and Transactional data.

Customer service feedback and reports.

Question 15

Internal Databases: Benefits

Answer 15

Build customer profiles - consumer segments.

Like a big laboratory - sales promotions.

Refiine the marketing process - measure response to promotions.

Understand gaps in knowledge - knowing what people buy but not why?

Question 16

External Secondary Data

Answer 16

From sources outside the organisation - usually from business sources, e.g. newspapers and books, and from the government.

Also from indexes and statistics, e.g. Datamonitor and Mintel - the Yellow Pages of Market Research.

Question 17

Syndicated Secondary Data

Answer 17

Information services from marketing research organisatons - common database, by subscription.

Question 18

Syndicated Seconary Data: Examples

Answer 18

Panel/Omnibus Survey - not for specific purpose.

Electronic Scanner Panels.

General Research Reports - Keynote and Mintel.

Question 19

Exploratory Research Design

Answer 19

Develop initial ideas, used to find things out. Not generalisable, small sample.

Used when little is known.
To gain background information.
Define terms.
Clarify problems.
Establish research priorities.

Question 20

Conclusive Research Design

Answer 20

Evaluate alternative courses of action, measure and monitor. Used after exploratory research.

Question 21

Descriptive Research

Answer 21

Type of conclusive research, a description of something. Who, where, when, how, but not what.

Focus on evaluating alternative actions and measuring organisational performance.

Question 22

Cross-Sectional Research

Answer 22

Collection of information only once, e.g. effect or music on shoppers.

Question 23

Longitudinal Research

Answer 23

Fixed sample over a long time. Illustrate situation and changes over a period.

Question 24

Casual Research

Answer 24

Cause-and-effect relationships. Impact of variables on eachtother. Cause = independent, effect = dependent.

Question 25

Qualitative Research Methods: Focus Groups

Answer 25

Trained moderator, 6-12 people, unstructured and natural.

Question 26

Qualitative Research Methods: In-Depth Interviews

Answer 26

Unstructured, single respondent, skilled interviewer, motivations and attitudes about a single topic.

Question 27

Qualitative Research Methods: Observation

Answer 27

Covert and Overt, primary data gathering, actions are observed.

Question 28

Quantitative Research Methods: Survey

Answer 28

Structured questionnaire, large sample of population, for specific information.

Question 29

Survey: Types

Answer 29

Personal - Home, mall intercept. Telephone - Person to person, computer aided. Mail - Postal. Electronic - Email, online. Most expensive top to bottom.

Question 30

Sampling

Answer 30

Strategic selection of participants, less cost and time than looking at everyone. Random Sampling - see level of participation, calculate non-response.

Question 31

Sampling: Population

Answer 31

Aggregate of all elements, common characteristics, purpose of the research.

Question 32

Sampling: Census

Answer 32

Complete enumaration of the elements of a population.

Question 33

Sampling: Sample

Answer 33

Subgroup of the population selected for participation in the study.

Question 34

Sampling: Sampling Frame

Answer 34

List of population elements, a list to determine the population.

Question 35

Sampling Process

Answer 35

Elements that process the information sought by the researcher - some bases would be: Geographical area. Demographic. Usage awareness.

Question 36

Sampling Frame: How?

Answer 36

Drawn from: ``` Electoral register. Postcode. Telephone directory. Specialised consumer lists. Random-digit dialling lists. Customer or member lists. ```

Question 37

Sampling Frame: Considerations

Answer 37

Who is not included? How does this affect representativeness? It may be that there is no sampling frame for your population - this is common. Must formulate a procedure to generate your own - e.g. loyalty cards.

Question 38

Sampling Method: Probability Sample

Answer 38

Every element of the population has a non-zero likelihood of being selected. Sample is representative, can calculate sampling error, project results to entire population. Can be expensive and time consuming - often not possible to do.

Question 39

Sampling Method: Non-Probability Sample

Answer 39

Not an equal probability of selection.

Question 40

Probability Sample: Examples

Answer 40

Simple random sampling. Cluster sampling. Systematic sampling. Stratified sampling.

Question 41

Non-Probability Sample: Examples

Answer 41

Convinience sampling. Judgemental sampling. Quota sampling. Snowball sampling.

Question 42

Sample Size Methods: Census

Answer 42

Asking the entire population.

Question 43

Sample Size Methods: Judgement

Answer 43

The best guess of experts, or from experience.

Question 44

Sample Size Methods: Conventional

Answer 44

Similar sample to what others have done previously.

Question 45

Sample Size Methods: Arbituary

Answer 45

Industry accepted sample - Pick 'X' percentage to be in the sample.

Question 46

Sample Size Methods: Cost Basis

Answer 46

What can you afford the sample to be?

Question 47

Data Analysis and Interpretation: Descriptive

Answer 47

One variable - means, frequency and standard deviation.

Question 48

Data Analaysis and Interpretation: Comparative

Answer 48

Two variables - cross-tabulations, t-test, anova.

Question 49

Data Analysis and Interpretation: Further Analysis

Answer 49

Correlation and regression.

Question 50

Marketing Information Systems

Answer 50

Information is gathered, stored, analysed and distributed to managers when they need it. Planned basis. Build on the information needs - taken when, where and in the form it is needed.