EZA AS 2 business-alevel-year1-marketing-research.pptx

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AS Marketing Research

3.3 Decision making to improve marketing performance

What you need to know

• Main types of market research

• Value of primary and secondary research

• Qualitative and quantitative research

• Methods and value of sampling

Marketing Research Links Closely With

Knowledge Based questions

1. What is meant by market research?

2. What is the purpose of market research?

3. What is the difference between primary and secondary research? Give examples.

4. Name one advantage and one disadvantage of primary research

5. Name one advantage and one disadvantage of secondary research

6. What is the difference between qualitative and quantitative market research?

7. What is sampling?

8. Name one advantage and one disadvantage of sampling.

9. What is a market map?

10. Why is it useful?

Market Research is Important Because Customers Differ in Terms of…

• The benefits they want

• Amount they are able to or willing to pay

• Media (e.g. television, newspapers, websites and magazines) they see

• Quantities they buy

• Time and place that they buy

Insights Provided by Effective Market Research

• Dimensions of the market (size, structure, growth, trends etc.)

• Competitor strategies (market share, positioning, USPs)

• Needs, wants and expectations of customers (& how these are changing)

• Market segments – existing and potential opportunities for new segments

Two Key Categories of Market Research

Primary market research

• Examples of primary market research include:

  • Surveys and questionnaires

    • Postal

    • Telephone

    • Face–to-face

    • On-line

  • In depth interviews

  • Focus groups

  • Observations

To what extent do you think focus groups are an effective method of primary research for all products and services?

Primary Data – Main Sources

• Observation

• Postal surveys

• Telephone interviews

• Online surveys

• Focus groups

• Face-to-face surveys

• Test marketing

• Experiments

Secondary market research

• Examples of secondary market research include:

  • National and Local Government e.g. Office for National Statistics

  • Market Research organisations e.g. MORI, MINTEL

  • Professional bodies e.g. ACCA

  • Trade unions and Confederation of British Industry (CBI)

  • International bodies e.g. EU, OECD

  • Academic organisations e.g. universities

  • Newspapers and magazines

  • The Internet

Secondary Data – Main Sources

Benefits & Drawbacks of Primary & Secondary Research

Benefits & Drawbacks of Primary & Secondary Research

Qualitative and quantitative data

• Qualitative research is the gathering of non-statistical information that gives a company in depth insight into the reasons for human behaviour

• Quantitative research is the gathering of statistical data to inform the company about people’s behaviour but does not identify the reasons

To what extent do you think quantitative data is more useful than qualitative data in informing marketing decisions?

Quantitative v Qualitative

Quantitative Research

Qualitative Research

Based on opinions, attitudes, beliefs and intentions

Answers questions such as “why”? “Would?”, or “how?”

Aims to understand why customers behave in a certain way or how they may respond to a new product or service

Focus groups and interviews are common methods used to collect qualitative data

Concerned with data and addresses question such as “how many?”, “how often”, “who?”, “when?” and “where?”

Based on larger samples and is, therefore, more statistically valid

The main methods of obtaining quantitative data are the various forms of survey – i.e. telephone, postal, face-to-face and online.

Benefits and Drawbacks of Qualitative Research

Focus Groups are Common in Primary Research

A focus group is a form of qualitative research in which a group of people are asked about their perceptions, opinions, beliefs, and attitudes towards a product, service, concept, advertisement, idea, or packaging.

Focus Group video

Benefits and Drawbacks of Quantitative Research

Sampling in Market Research

Sampling involves the gathering of data from a sample of respondents, the results of which should be representative of the population (e.g. target market) as a whole

Sample Types – some examples:

• Cluster

• Convenience

• Judgement

• Quota

• Simply Random

Types of sampling techniques

• Random

  • a sample is selected for study from a population where each individual is chosen entirely by chance and has an equal chance of being selected

• Quota

  • The population is first segmented into subgroups before a judgement is made in selecting respondents that are representative of that subgroup

    • e.g. within a sub group of women 60% may be aged 20-40, 20% 41-60 and 20% 61+, the sample should represent this

• Stratified

  • The population is first segmented into subgroups before respondents are randomly selected form within that subgroup

    • E.g. within a subgroup of 16-18 year olds any member of the population has an equal chance of being selected

Benefits and Drawbacks of Sampling in Market Research

Knowledge Based questions

1. What is meant by market research?

2. What is the difference between primary and secondary research?

3. Name one advantage and one disadvantage of primary research

4. Name one advantage and one disadvantage of secondary research

5. What is the difference between qualitative and quantitative market research?

6. What is sampling?

7. Name one advantage and one disadvantage of sampling.

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