Marketing Research Lecture Notes (4)

Welcome to Marketing Research for Autumn 2025.
The lectures will be pre-recorded, while tutorials are live, either on campus or online.
Tutorial information (location, time, tutor details, Zoom links) is available in the 'Get Started' module on Canvas.
Tutorials commence next week. Check Canvas for scheduling.

There will be one on-campus quiz worth 20% of the final grade for all students.
Online students must attend the quiz on campus at 6 PM in a designated classroom.
A live Q&A session regarding the quiz will be held in week five.
The quiz will cover topics discussed in lectures and tutorials; no 'gotcha' questions.
Besides the quiz, the project has an individual and a group component. Group components due May 8th.
Final questions, short essays about market research

The required textbook is the sixth edition (2024) of the marketing research textbook.
The library has copies of the fourth edition, but using it puts students at a disadvantage due to significant innovations since its publication.
A good intro marketing research textbook, a good intro marketing textbook, and a good business statistics textbook are essential resources for marketing majors throughout their careers.
The e-book is available for $49.99 using a specific discount code.

There will be three live Q&A sessions via Zoom.
Links are available in the 'Get Started' module on Canvas.
Tentative schedule: week 5, week 11, and week 12; check the program schedule for exact dates.
The second live Q&A session will feature the client for the market research project.

The project includes individual and group components.
The group component is due on May 8th.
The client is related to the marketing of shampoo, focusing on a nostalgic Australian brand from the 80s and 90s being reintroduced.
Students will be assigned one of the top 25 shampoo brands in Australia (by revenue) and will analyze it in relation to four competing brands, including the nostalgic brand.
The project aims to understand how the nostalgic brand can re-enter the market and how existing brands might react.

The final exam will consist of questions and short essays about market research.
Students will be expected to interpret statistical output from software packages.
No complex mathematical calculations (e.g., integrals) will be required.

Marketing: the act of getting a product to the consumer.
Market: a group of heterogeneous customers (everyone is different).
Research: Gaining knowledge about something.
Marketing Research: Getting to know about the market for a business's product.
Data becomes information through tabulation (e.g., using Qualtrics for survey design).

Wikipedia's definition emphasizes the action needed in terms of business strategy to remain competitive.
Webster's definition describes market research as an action or activity.
High competition in the shampoo industry necessitates ongoing market research to monitor competitors and market trends. For example, ChatGPT used to identify top brands by revenue.

Internal Environment: Factors within the company's control.
External Environment:
- Microenvironment: Factors that can be influenced but not fully controlled.
- Macroenvironment: Factors that cannot be controlled and must be adapted to.
Market research considers not only competitors (microenvironment) but also broader market conditions (macroenvironment).
Example: An interest rate cut of 0.25% by the Reserve Bank of Australia increases disposable income, potentially affecting sales at ALDI.

Links the company to the market through data gathering and information analysis.
Information can be visually communicated using pie charts and bar charts.
Design research methods: focus groups, surveys, social media monitoring (e.g., what is being said on X (formerly Twitter) about your product.
Define boundaries: focus on the target market for the nostalgic shampoo brand.
Always write a report with your audience in mind.