MR.1–4 – The World of Market Research

Types of research

Theoretical research; Scientific research; Applied research (Market research is applied research).

What is market research?

Systematically gathering data about people or companies and analyzing it to understand needs, evaluations, image and drivers of behavior; results inform decisions on strategy, operations and customers.

Segmentation

Identification of criteria for segmentation and determination of the main characteristics of each market segment.

Market targeting

Evaluation of potential and commercial attractiveness; selection of one or more segments.

Product positioning

Development of a detailed product positioning strategy and a marketing mix for the selected segments.

Curation (definition)

Organization and integration of data from various sources; involves annotation, interpretation and presentation; desk research.

Qualitative research

Non-numerical data to find meanings, explanations, detailed descriptions of behavior, attitudes and thoughts; field research.

Quantitative research

Numerical data from large populations; analyzed with statistical methods and models; field research.

Curation – three steps

Annotation; Interpretation; Presentation.

Qualitative output

A SUMMARY of the main insights; descriptive explanation; illustrated with verbatims, stories and visuals.

Quantitative output

A SUMMARY of the main insights; explained and shown by charts and tables with numbers and percentages.

Types of research (examples)

Communication; Satisfaction and loyalty; Image; Customer journey; Usability/UX; Fundamental; Innovation (design thinking); Shopper research.

Desk research – 6 guidelines

Prepare your questions; Variation in sources; Work structured; Variation in search words; Use databases/archives; APA 7.

Population

All the people that are in the target group (Who? Size? Access?).

Sample

Selection of the population that will participate; in qual it’s about diversity, in quant it is about representativity (with quotas).