S3Market Research

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Market Research : 

Market Research

Market Research Process : 

2 Market Research Process Define the problem – decision alternatives, research objectives Determine whether qualitative or quantitative solution/answer required Develop the research plan Identify whether secondary or primary information needed Primary = data generated specifically to inform decision Secondary = data readily available (internal and external) If primary, identify research approach Observational Focus group Behavioral Experimental Survey/Questionnaire Conduct research/gather information Analyze and present findings Quantitative Qualitative

Two Key Challenges of Market Research : 

Two Key Challenges of Market Research Market research gets complicated when humans get involved People want to tell you what you want to hear Challenging to ask people their opinions, to judge subjective areas, to predict their behavior Quantity of respondents can help mitigate this effect (=quantitative) Survey results become projectable (statistically significant) when the number of respondents exceeds certain (industry standard) levels Otherwise, reported responses gathered from individual and small groups of consumers and other constituents (=qualitative) should always be treated as “directional” in nature Frequently disparate pieces of data require interpretation by managers and decision makers Conflict may not have a clear, data-driven solution Gut feel’ may win the day 3

Types of Data a Marketer Uses : 

4 Types of Data a Marketer Uses Internal information Production/orders/inventory Shipments/sales General intelligence gathering Reading trade and consumer publications, blogs, talking to key contributors Syndicated/purchased data Industry specific, provided by specialized suppliers (e.g. AC Nielsen) Custom market research Project/need specific (e.g. Campbell’s shopper insight study) Decision-making tools Models (e.g. MMA)

EXAMPLE: ACN Syndicated Data : 

5 EXAMPLE: ACN Syndicated Data 1 2 3

EXAMPLE: Campbell’s Soup - Shopper Insights : 

6 Shopper Marketing Business Case: Campbell’s Soup Before After Background: 20 year decline in condensed soup 140 year old company with mature brand Why? Soup is the second most difficult category to shop behind cough/cold Stocking issues – stockers would not pay attention to the price tags to restock soup in its correct spot on shelf Not enough distinction on shelf and private label uses red/white packaging scheme 6 component shopability study: Domain & market structure analysis Loyalty card data analysis In-store testing I: quantitative/qualitative testing of consumer purchase behavior and in-store concepts Iterative focus groups In-store testing II: confirmation of improved shelf execution Footprint/Audit/Profitability Analysis Solution: IQ Shelf Maximizer Results: + 5.5% Vol. – Wet Soup +10% Vol. - Condensed Soup +13.6% Vol – Corporate Brand Positive ROI Positive labor effect, less dents, less OOS EXAMPLE: Campbell’s Soup - Shopper Insights

EXAMPLE: Decision-making Tools – Multivariate Regression Analysis : 

7 EXAMPLE: Decision-making Tools – Multivariate Regression Analysis ROI = (Incremental Vol. x Adjusted Contribution)/Total $ Invested 1 2

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