Marketing #3

Market Research

To understand markets (e.g. competitors, customers etc)

Marketing Research

Broader, determining impact of marketing strategies

Define the problem

Step 1

Decide the Research Plan

Step 2

Understand the data collection

Step 3

Undertake the data analysis

Step 4

Write the report & deliver the presentation

Step 5

Customer insight

derived from fusing knowledge generated from a range of sources, including industry reports, sales force data, competitive intelligence, CRM data, employee feedback, social media analysis data, and managerial intuition.

Big data

the systematic gathering and interpretation of high-volume, high-velocity, and/or high-variety information using cost-effective, innovative forms of information processing to enable enhanced insight, decision-making, and process automation

Ethnography

Observation of consumers in their culture

Netnography

Observation of consumers’ online behaviours

Validity

Are results measuring what they’re supposed to measure?

Reliability

Would the same research yield the same results in the same conditions?

Data exhaust

Data that’s passively collected

Public data

Data held by gov/authorities

Private data

Data held by private orgs/indivs

Community data

Distilled, unstructured data like reviews