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Nicole Frey

Nicole Frey. LC Room 4.26 nicole.frey@uct.ac.za. Restaurant in Obs.

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Nicole Frey

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  1. Nicole Frey LC Room 4.26 nicole.frey@uct.ac.za Nicole Frey

  2. Restaurant in Obs “I see customers every day whom I know on a first-name basis. I understand their likes and dislikes. If I put something on the menu and it doesn’t sell, I know that they did not like it. I also read the magazine Modern Restaurant to keep up with industry trends. This is all the market research I need to do.” Nicole Frey

  3. Lecture Structure • 1. Why study Marketing Research (MR)? • 2. What is MR? • 3. The MR process • 4. MR tools • 5. Challenges Nicole Frey

  4. Why study Marketing Research? Nicole Frey

  5. Why conduct MR? • Competition • The only thing that stays constant is change • Changing consumers (form, design, etc.) • Changing tastes (Kauai, Fresh Stop – McDonalds) • Changing environments (Ego – Axe, Fair Trade) • Changing norms (CSI, CSR, CRM) • Strategic decision making (STSMC) • Reduces risk • New market opportunities Nicole Frey

  6. “Good research is like a parachute - without it, you might come to the wrong conclusion” Nicole Frey

  7. Nicole Frey

  8. Market Research “Market Research is the systematic and objective collection, analysis, and interpretation of information for decision-making about marketing problems of all kinds, using recognised, scientific methods” South African Marketing Research Association Nicole Frey

  9. What is Market Research? • Surveys • Trends • Customer insight • Improved decision making • Competitive advantage • New knowledge • profits Nicole Frey

  10. Heinz Tomato Sauce Green, blue – I had no clue Dove Soap ¼ hygdrating cream Black Diamond How large? Where? Attitudes, perceptions, trends, needs Conspicuous consumption Adoption of certain products (financial instruments) Mellerware Product vs perception thereof Management insight Octagon Causes and companies Philanthropy as strategic tool TEFL Asian vs. European motivations Responsible Tourism Management (RTM) Role of Market Research Nicole Frey

  11. Packaging? Line extensions? Dropping sales? Competitors Perceptions Customers Awareness? Relationships? Future? SWOT MOA Brands Intuition – systematic decision making Reduce risk Enable the Marketing Concept approach to business Consumer orientation Long run profitability vs. sales volume Cross functional perspective MR should Nicole Frey

  12. Re – search: to search again • To search again – careful, planned and systematic approach • MR has to be objective – the danger of bias • Who gets questioned • How • Sequence • Group dynamic • Stats, stats, stats • Serves as an aid for decision making – not a substitute • Constant change – means constant re-evaluation • Basic and pure research (increase the body of knowledge) and applied research • Unknown theory • Testing of theory • Academic research Nicole Frey

  13. Types of Marketing Research • Exploratory Research • Clarify ambiguous problems • Better understanding • Avoid expensive mistakes • Usually followed by more detailed research • E.g. Engen and Woolworths Nicole Frey

  14. Types of Marketing Research cont. • Descriptive Research • Describe characteristics of a market • Market potential • Based on some previous understanding – testing/further describing an existing situation • Such as size, purchasing behaviour, profile • Who, what, when, where and how • Segment and target markets • E.g. English Foreign Language, Black Diamond, green consumption, social networks Nicole Frey

  15. Types of Marketing Research cont. • Causal Research • Cause-and-effect relationships amongst variables • Have an expectation and try to test for it • Must be knowledgeable about the subject • E.g. new package causes increase in sales, advertising causes increased awareness and sales • Very difficult to prove – often unaware of influencing variable • E.g. hot day = ice cream sales up – drowning up so ice cream consumption causes drowning Nicole Frey

  16. The Marketing Research Process Define the problem Develop research plan Make decision Collect information Analyze information Present findings Nicole Frey

  17. Marketing Research Process Defining the problem • “a problem well defined is a problem half solved” • You need to have a question that research seeks to answer • “what is the effect of…..” • Work closely with stakeholders • E.g. spending patters? Market demand for new product? Why are sales declining? Success of last ad campaign? Etc. • State clear objectives – quantifiable • Scope of research Nicole Frey

  18. Exploratory Research Techniques • Refine the problem • Narrow scope • Type of data: • Secondary Data/historical data • Primary Data Nicole Frey

  19. Secondary Data • Investigating available sources (desk research) • Review existing sources of information e.g. census, SAMM, AMPS • Databases, Internet • Literature review • Internal – records, accounts etc. • External- government agencies, MR agencies, libraries, print (especially journals – databases), internet Nicole Frey

  20. Planning the Research Design • Selection of basic research methods • Qualitative • Quantitative • Experiment • Content analysis • Devising the research plan • Devise plan to see what additional data is needed – methodology • Field/primary research • Quantitative – facts and figures, statistics -> surveys/questionnaires • Qualitative – perceptions, attitudes etc. ->Focus Groups, In-depth interviews, Experience Interviews, Observational Research Nicole Frey

  21. Focus Group in Session Nicole Frey

  22. Keep it short Keep it simple Do a pilot Start with easy questions Funnel approach Screening questions Have an intro Demographics at the end Think about the stats Descriptive? Inferential? Need to know versus nice to know Questionnaire Hints & Tips Nicole Frey

  23. Sampling • Why sample • True population vs. representation of true population • E.g. bite of steak -> salt • Sampling error • Confidence levels Nicole Frey

  24. Probability Simple random Stratified random Cluster Nonprobability Convenience Judgment Quota Types of Samples Nicole Frey

  25. Data Gathering • Humans • Surveys, focus groups, interviews • Machines • Scanning, observation, motor count • Use technology (RTM research, Facebook) Nicole Frey

  26. Data Processing and Analysis • Analysing and interpreting the data • Value of research is determined by the results • Analysis = adding of logic to understand data • Determined by original objectives • Excel, Statistica, etc • Qualitative data = human analysis • Problem solving, trend analysis Nicole Frey

  27. Conclusion and Report Preparation • Presenting the findings • Conclusions and Recommendations • Have end-user in mind • Avoid jargon • Graphs and diagrams • Executive summary Nicole Frey

  28. Quote of the Day “The greatest glory in living lies not in never falling, but in rising every time we fall” Nelson Mandela Nicole Frey

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