Marketing Research and Consumer Insight Flashcards
What is it?
Specific marketplaces and describes people in them.
Assists management function - fine-tune marketing mix.
Gathering and interpreting information - gain insight and support decision making.
Research Types: Applied
Solves a problem, e.g. why are sales decreasing?
Research Types: Basic
Solves theoretical need, e.g. why do people shop?
Uses of Marketing Research: Segmentation
Product purchased, lifestyle, demographics etc.
Uses of Marketing Research: Competitor Analysis
Strategies, strength, limitations etc.
Uses of Marketing Research: NPD
New concepts, replacements, appeal etc.
Uses of Marketing Research: Pricing
Value, demand - what will people pay?
Uses of Marketing Research: IMC
Effectiveness, attitudinal research - do people get the message?
Primary vs. Secondary Data
Primary = Originates from researcher for specific purpose.
Secondary = Previously gathered for a different purpose.
Types of Secondary Data: Internal
Ready to use, requires further processing.
Types of Secondary Data: External
Published material, e.g. computerised database.
Internal Data: Examples
Marketing Databases - Email mailing lists.
CRM Systems - Tesco Clubcard.
Website Analysis - What are people visiting and clicking the most?
Internal Databases
Collection of data from within the company, e.g. MyCoke by Coca-Cola.
Internal Databases: How?
Stakeholder Details - customers, employees.
Salesperson call report - cold callers.
Sales and Transactional data.
Customer service feedback and reports.
Internal Databases: Benefits
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?
External Secondary Data
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.
Syndicated Secondary Data
Information services from marketing research organisatons - common database, by subscription.
Syndicated Seconary Data: Examples
Panel/Omnibus Survey - not for specific purpose.
Electronic Scanner Panels.
General Research Reports - Keynote and Mintel.
Exploratory Research Design
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.
Conclusive Research Design
Evaluate alternative courses of action, measure and monitor. Used after exploratory research.
Descriptive Research
Type of conclusive research, a description of something. Who, where, when, how, but not what.
Focus on evaluating alternative actions and measuring organisational performance.
Cross-Sectional Research
Collection of information only once, e.g. effect or music on shoppers.
Longitudinal Research
Fixed sample over a long time. Illustrate situation and changes over a period.
Casual Research
Cause-and-effect relationships. Impact of variables on eachtother. Cause = independent, effect = dependent.
Qualitative Research Methods: Focus Groups
Trained moderator, 6-12 people, unstructured and natural.
Qualitative Research Methods: In-Depth Interviews
Unstructured, single respondent, skilled interviewer, motivations and attitudes about a single topic.
Qualitative Research Methods: Observation
Covert and Overt, primary data gathering, actions are observed.
Quantitative Research Methods: Survey
Structured questionnaire, large sample of population, for specific information.
Survey: Types
Personal - Home, mall intercept.
Telephone - Person to person, computer aided.
Mail - Postal.
Electronic - Email, online.
Most expensive top to bottom.
Sampling
Strategic selection of participants, less cost and time than looking at everyone.
Random Sampling - see level of participation, calculate non-response.
Sampling: Population
Aggregate of all elements, common characteristics, purpose of the research.
Sampling: Census
Complete enumaration of the elements of a population.
Sampling: Sample
Subgroup of the population selected for participation in the study.
Sampling: Sampling Frame
List of population elements, a list to determine the population.
Sampling Process
Elements that process the information sought by the researcher - some bases would be:
Geographical area.
Demographic.
Usage awareness.
Sampling Frame: How?
Drawn from:
Electoral register. Postcode. Telephone directory. Specialised consumer lists. Random-digit dialling lists. Customer or member lists.
Sampling Frame: Considerations
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.
Sampling Method: Probability Sample
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.
Sampling Method: Non-Probability Sample
Not an equal probability of selection.
Probability Sample: Examples
Simple random sampling.
Cluster sampling.
Systematic sampling.
Stratified sampling.
Non-Probability Sample: Examples
Convinience sampling.
Judgemental sampling.
Quota sampling.
Snowball sampling.
Sample Size Methods: Census
Asking the entire population.
Sample Size Methods: Judgement
The best guess of experts, or from experience.
Sample Size Methods: Conventional
Similar sample to what others have done previously.
Sample Size Methods: Arbituary
Industry accepted sample - Pick ‘X’ percentage to be in the sample.
Sample Size Methods: Cost Basis
What can you afford the sample to be?
Data Analysis and Interpretation: Descriptive
One variable - means, frequency and standard deviation.
Data Analaysis and Interpretation: Comparative
Two variables - cross-tabulations, t-test, anova.
Data Analysis and Interpretation: Further Analysis
Correlation and regression.
Marketing Information Systems
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.
