LECTURE 2

MARKETING MANAGEMENT
Consumer & Market Research

Instructor: Syed Ibrahim Saajid

Marketing Research

Market research relates to obtaining information that will enable an

organization to out-position its competition.

• What is it that customers, and prospective customers, want?

• What are the issues and factors that affect their purchases?

• What other choices are there already in existence in the

marketplace?

• Are all of the customers’ needs being met at present

Typical Research Process

Research Data
Objectives Collection

Research
Data Analysis
Design

Data
Sampling Plan
Presentation
Types of Research
Qualitative vs. Quantitative
KEY MARKETING RESEARCH APPROACHES
Observational Research
Ethnographic Research

• Based on anthropology and

related social science fields

• Goal is to uncover unarticulated

desires that might not surface in
any other form of research

• Researcher is typically
immersed in the natural
environment of the consumers’
life in order to capture detailed
insights from everyday activities
Focus Group Research
Survey Research
Behavioral Research

• Based on analysis of
customers’ purchase behavior

• Experimental research can be

done to understand different
underlying factors behind
customers’ purchase decision

• If extraneous factors can be

controlled or eliminated,
behavioral experimentations
can yield concrete actionable
insights into customer psyche.
MAJOR RESEARCH INSTRUMENTS
Questionnaire
In-depth Interview

An unstructured, direct, personal

interview in which a single participant
is questioned and probed by an
experienced interviewer to uncover
underlying motivations, beliefs,
attitudes, and feelings on a topic.

The emphasis should be upon a full

interaction to understand the meaning
of the participant’s experiences and life
worlds.
RET: Real-time Experience Tracking

• RET allows companies to inexpensively collect instant, unbiased

feedback from customers 24 hours a day.

• In RET, participants supply the answers to a four-question survey

every time they encounter a brand, be it through a direct interaction,
such as a purchase or ad, or an indirect one, such as a conversation
with another customer.

• They need only text a four-character message.

• RET allows firms to track campaigns as they unfold and readjust

them toward the most effective tactics.

https://hbr.org/2012/09/better-customer-insight-in-real-time (pdf uploaded in buX)

Big Data Analytics
Thank you!