MARKET RESEARCH

Market research is ?

the systematic and objective :

• identification

• collection

• analysis

• dissemination

• & use of information

For the purpose of improving decision making related to the

• identification and

• solution of problems and opportunities in marketing

Market research process ?

1. Problem definition

2. Research approach developed

3. Research design developed

4. Firework/data collection

5. Data integrity & analysis

6. Communicating research findings

Social research ?

→ It's the study of how individuals interact within societies, focusing on understanding social behaviours, norms, and structures that influence market dynamics.

Why do research ?

• Must make best use of the ressources because they’re limited

• Need to make well-informed decisions

• Provides evidence for that decision making

• Gather data, analyse it then transform it into info and insights

• With insights, you can make informed decision

The use of market research ?

• identify markets and customers

• understand customer needs

• monitor customer satisfaction

• test advertising/marketing effectiveness

• develop a product or service

The value of research ?

→ Its ability to provide high quality data, info and insight.

If ressources are limited, should you spend on research ?

→ 2 questions to ask ourselves : is it Nice to do or Need to do it ?
It depends also :

• What is the business problem or issue ?

• Why are you thinking about doing research ?

• How important is it ?

Some limitations of market research ?

→ We may not being clear about what it is for poor problem definition, lack of understanding of the problem,…

→ We may not doing the right sort of research

→ Or using poor quality data

Why is market research essential ?

It’s for identifying problems and opportunities, assisting decision-making, minimising risks, improving profitability, and ensuring competitive advantage

Research ?

It’s the systematic gathering of data to gain knowledge or understanding to address a specific need

Contexts and use of Market Research ?

• Products, services, advertising, policy, communications, attitudes etc.  

• To address client’s business problem, to help the client make good decisions

The value of  Market research ?

Provides high-quality data, information and insight

Important uses for market research ?

• Understanding markets → Size & strength

• Understanding customers → Customer needs

• Developing the offer → Attitudes to the price & products

• Improving communications → Awareness of the brand

Primary data ?

→ is specifically collected by the researcher for the specific problem/opportunity and involves all steps of the marketing research process.

Secondary data ?

Data who has been previously collected for some other problem.

The information research process ?

→ collects, analyses, interprets, and transforms data into decision-making information.

Scientific method ?

It involves formulating hypotheses, conducting experiments, and analyzing data.

The research process ?

It’s transforming data into knowledge

Primary goal of the research process ?

It’s to provide decision makers with knowledge to resolve problems or pursue opportunities.

Data becomes knowledge when … ?

→ someone interprets the data and attaches meaning.

Iceberg principle ?

decision makers know 10% of the true problem.

The researcher conducts … ?

a review of the literature. Important step because it influences the remaining steps.

Situation analysis ?

→ uncovers the problem’s complexity.
Identify measurable symptoms.
Clarify the problem separate out causes and symptoms.

Research objectives ?

→ provide guidelines for determining other steps.
If the objectives are achieved, the decision maker will have the information needed to answer the research questions.

Exploratory research qualitative ?

→ It’s investigatory, has 1 of 2 objectives, response driven & generates soft data.
Use focus groups & in-depth interviews
Generating insights that help define the problem situation.
Understanding consumer motivations, attitudes, and behaviours.

Descriptive research - Quantitative ?

→ Highly structured, formal, mathematically-based & generates hard data.

Predictive research ?

Goal → is to determine the cause/effect relationship 
compares 2 or more variables. 
Looks at specific relationships & looks at their effects.
Used to understand how 1 variable impacts a dependent variable

Researchers need to identify ?

the relevant target population.

census ?

complete survey of a population, collecting data from every person living in Ireland to understand demographic and social characteristics.

For large populations, use a … ?

representative sample and generalize.

A sampling plan ?

is 1 of 2 general types.

Probability sampling ?

each member of the target population has a known chance of being selected, allows assessment of sampling error.

Nonprobability ?

cannot measure sampling error, limits findings, and does not provide each member of the population a known chance of selection.

Researchers must ?

• Select the correct type of questions.

• Consider the sequence and format.

• Pretest the questionnaire.

Pretest respondents are asked about which issues ?

• Clarity of instructions and questions.

• Sequence of the topics and questions.

• Anything potentially difficult or confusing.

2 approaches to gathering data are?

• Using interviewers or self-completion questionnaires.

• Observing individuals or market phenomena.

major advantage of questioning over observation ?

Questioning answers not just how a person is behaving, but why → It explores motivations and feelings.

Interpretation ?

It integrates the aspects of the findings into conclusions used to answer the research questions.

Sections included in any research report ?

• Executive summary.

• Introduction.

• Problem definition and objectives.

• Methodology.

• Results and findings.

• Limitations of the study.

research proposal ?

Communicates the research framework to the decision maker. It’s not the same as a final research report.

purpose of a written market research brief ?

• Helps the initiator to be more sure of how decision-making will be supported

• Agreement among all parties who may benefit from research

• Helps to plan and administer research

• Helps to reduce disputes

• Forms the basis for negotiation.

Research questions (RQs) ?

are refined statements of the specific components of the problem.

Hypothesis (H) ?

is an unproven statement about a factor that is of interest to the researcher. Often, a hypothesis is a possible answer to the research question.

Problem defintion ?

translates the management decision into research information needs

Desk research ?

It’s the systematic collection & analysis of secondary sources of data

Field Research ?

It generates primary data. Data is collected first-hand by the investigator for the specific problem at hand.

Criteria for Judging Secondary Data ?

Objectivity is used to evaluate Desk Research :

• How was it collected?

• Why was it collected?

• When was it collected?

• Why was it published?

• How dependable is the data source?

Secondary data can be … ?

→ internal (ready to use, requires further processing) or external (Published materials, Computerised databased, …)

Criteria for evaluating secondary data ?

• Currency

• Objective

• Nature

• Dependability

• Specifications & research design

• Error & accuracy

Data collection begins with … ?

→ secondary data.

Secondary data tends to be … ?

inexpensive, easy to access, but may not be accurate or timely.

External data is data … ?

→ already in existence outside the firm. → can be sourced from various organisations, government reports, market research firms, and public databases.

the most important aspect of desk research ?

→ It’s to be thorough, exhaustive and diligent.

secondary data always be considered before … ?

engaging in any primary research.

Research design ?

→ blueprint for conducting research, detailing the methods and procedures for data collection and analysis.

Qualitative market research ?

An unstructured, exploratory design based on small sample, intended to provide depth, insight and understanding. → perceptions, attitudes & motivations

Quantity ?

relating to or measured by quantity → statistical results

IDI ?

In-depth interviews conducted with individuals to gather detailed qualitative insights on their thoughts and experiences.

Focus groups ?

→ small group of people discusses a product, service, or concept, guided by a moderator to gather diverse opinions and insights.

For the people we interview, we have to … ?

→ get the conversation / Comfortable → Honest thoughts/feelings/emotions

In depths interviews length ?

→ 30-60 minutes, depending on the complexity of the topic.

How to structure an in-depth interview ?

→ Create a discussion guide where topics are in bullet points with questions

A questionnaire can be on ?

• Online Survey

• F2F

• Phone Call

• Mail Survey

Descriptive Research Methods ?

they describe a phenomenon, through surveys to gather quantitative or qualitative data.

Benefits of surveys ?

• Quick results to analyse

• Quantitative data → large sample sizes,

• Administered easily across various platforms

• Help in understanding consumer preferences and behaviors efficiently.

Projective techniques ?

→ qualitative research method used to encourages participants to project their thoughts and emotions onto the stimuli, revealing underlying motivations.

Association techniques ?

→ It’s when participants are presented with a stimulus and are asked to respond with the first thing that comes to mind.

Word association ?

Method which participants are presented with a list of words, one at a time.They’re asked to give the first word that comes to mind.

Completion techniques ?

→ participants are asked to complete an incomplete stimulus situation. Helping to uncover their perceptions, thoughts, and attitudes toward the subject.

Construction techniques ?

→ Requires participants to construct a response in the form of a story. → related to completion techniques

Cartoon tests ?

projective techniques involving cartoon images, where participants interpret scenarios, revealing their feelings and attitudes.

Expressive techniques ?

participants express their feelings through artistic means, such as role playing, third-person technique & personification. Participants imagine that the brand is a person & describe the characteristics of that person.

Trace analysis ?

It’s when participants' responses are analysed for patterns and themes, often used to understand consumer behaviour and preferences.

Quantitative market research ?

Research techniques that seek to quantify data, apply some measurement and statistical analysis

Primary research methods ?

1. Survey Research

2. In depth interview, Focus group

3. Observation

4. Projective techniques

4 methods of projective techniques ?

• Association

• Completion

• Construction

• Expressive

Advantages of projective techniques ?

• They elicit responses that participants would be unwilling/unable to give if they knew the purpose of the study

• Helpful when the issues are personal or sensitive 

• Helpful when underlying motivations, beliefs & attitudes are operating at a subconscious level

Disadvantages of projective techniques ?

• Suffer from nay of the disadvantages of unstructured direct techniques, but to a greater extent.

• Require highly-trainers interviewers

• Skilled interpreters are also required to analyse the responses

• They tend to be expensive

Quantitative observation techniques ?

→ Involves recording the behavioural patterns of people, objects & events in a systematic manner to obtain information about the phenomenon of interest

Structured observation ?

→ researcher specifies in detail what is to be observed and how the measurements are to be recorded

Unstructured observation ?

→ Observer monitors all aspects of the phenomenon that seem relevant to the problem at hand

Natural observation ?

involves observing behaviour as it takes places in the environment.

Contrived observation ?

participants’ behaviour is observed in an artificial environment, such as a test kitchen.

CATI ?

Computer-Assisted Telephone Interviewing → method where interviewers use a computer to collect responses via phone.

Survey ?

method of obtaining info based upon the use of structured questionnaires administered to a sample of a target audience 

Structured direct survey ?

method that utilizes a pre-determined set of questions, ensuring consistency in responses across all participants

advantages of survey ?

provide quantitative data, cost-effective, large sample sizes, can be conducted quickly, diverse insights, data quality

disadvantages of survey ?

• Low response rate

• Technical issue

• may be misinterpreted 

Reasons for the decrease in survey responses rate ?

• lack of interest,

• perceived time commitment,

• trust issues with data privacy 

• length of questions

• Number of requests

First step of the design of a questionnaire ?

→ Specify the info needed → define the objectives and target audience for the survey.

Research questions (RQs) ?

refined statements of the specific components of the problem

Hypothesis ?

unproven statement about a factor that is of interest to the researcher → can often be a possible answer to the research question

Step 2 of the design of a questionnaire ?

→ Specify the type of interviewing method

Step 3 of the design of a questionnaire ?

→ Determine the question format, is the question necessary

The questions have to be … ?

→ clear, not too long, and not be a double barrelled questions

Step 4 of the design of a questionnaire ?

→ Overcoming inability & unwillingness to answer
Is the participant informed ? Can the participant remember?
→ minimise the effort required of the participants, and ensure questions are relevant and straightforward.
→ Use statements, or examples to aid understanding.

Branching ?

question format that allows respondents to answer follow-up questions based on their previous answers, ensuring relevance and clarity. (Yes/No)

Step 5 of the design of a questionnaire ?

→ Use open-ended questions to gather in-depth insights and qualitative data.
→ Multiple choice questions 
→ Dichotomous questions → Include a mix of question types to capture both qualitative and quantitative data.

Step 6 of the design of a questionnaire ?

→ Choosing question wording
→ Use ordinary words, not ambiguous words, leading questions, implicit alternatives, and technical jargon to ensure clarity and understanding. Aim for neutrality to avoid bias in responses.

Step 7 of the design of a questionnaire ?

→ Arrange questions in proper order, the opening questions’d be interesting, simple & non-threatening