MARKET RESEARCH 1

First Session:
MARKET RESEARCH INTRODUCTION

Market Research I _session 1_theorical part .|p1

 ¿What do you understand
by market research?

Market Research I _session 1_theorical part .|p2

 Behind a great question

There is…
¡¡¡A GREAT ANSWER!!!
Market Research I _session 1_theorical part .|p3
 HAVE YOU PARTICIPATED IN
AN INTERVIEW OR SURVEY?

1. HAY…
WHAT DO YOU THINK IT'S FOR?
2. WHAT IS DONE WITH THE INFORMATION COLLECTED
3. HOW CAN WE BE INTERVIEWED?

¡¡¡UNA GRAN RESPUESTA!!!

Market Research I _session 1_theorical part .|p4
 HAVE YOU PARTICIPATED IN ANY
INTERVIEW OR SURVEY?

Have them explain their experiences

¡¡¡UNA GRAN RESPUESTA!!!

Market Research I _session 1_theorical part .|p5
 “Who understand everything....is
because is wrongly informed”
(Chinese sentence)

INTUITION
INFORMATION

Market Research I _session 1_theorical part .|p6

 Changes in the firms’ decision strategy

PAST:
INTUITION
“Produce and sell”
EV
OL
UT
IoN

FUTURE:
INFORMATION
“Perceive and answer”

Market Research I _session 1_theorical part .|p7

 Market Research definitions
Marketing research is the function that links the
consumer, customer, and public to the marketer
through information—information used to
identify and define marketing opportunities and
problems; generate, refine, and evaluate
marketing actions; monitor marketing
performance; and improve understanding of
marketing as a process. Marketing research
specifies the information required to address
these issues, designs the method for collecting
information, manages and implements the data
collection process, analyzes the results, and
communicates the findings and their
implications”
American Marketing Association
Systematic, objective, informative process,
focused on decision making
Market Research I _session 1_theorical part
Marketing research is the The design, data collection and
systematic and objective information relevant to solve a
search for, and analysis of, specific marketing problem
information relevant to the with which the firm faces
identification and solution of Kotler (1992)
any problem in the field of
marketing
Green, Tull y Albaum (1988)
Marketing research involves the systematic and objective
identification, collection, analysis and dissemination of information in
order to assist management in decision making related to the
identification and solution of problems and opportunities in marketing
Malhotra (1993)
.|p8
 MARKETING NEWS
Marzo 2013

Summarizing, marketing research is …

Provide information to help
understand the market and the
environment to facilitate Marketing
decision making
The information provided by marketing
research helps reduce uncertainty by
providing relevant information about the
marketing variables, environment and
consumer.

Market Research I _session 1_theorical part .|p9


Sync
• We synchronize brands with the
individual and with society trends
• Our company, our brands, can be
aligned with what is "out there”
Anticipate
• Research anticipates trends,
values, emerging behaviors so
we can locate our brands in the
future
• The research points us towards
what will be
Strengthen
• Asking questions, launching
hypothesis, investigating we
do more competitive and
stronger our brands
Focus
• Facing a problem, a question, a
hypothesis, research points us
towards the solution
• We are more effective if we
focus
Market Research I _session 1_theorical part
Open
• Reflection and open-
mindedness
• Research invites us to
challenges: one to them the
challenge of discovering
Learn
• Understand the person, the
consumer, the market, ...
• Because behind every question
there is always a business
Integrate
• The research seeks to
aggregate and summarize the
amount of information that is
Marketing available and make it
research operational
helps to … Reassure
• Reduce uncertainty, reassurance
in making decisions
• Decisions can’t be random output
Dimensioning
• The research finds, analyzes
and puts weight. Dimensions.
Discriminate
• Life gives many options. But
you have to bet for one.
. | p 10
 WHAT DOES MARKET RESEARCH CONSIST OF?

Market Research I _session 1_theorical part . | p 11

 Market Research basically consists of:

➢Collect information

➢Analize it

➢Interpret it

➢With the purpose of solving a problema

➢And making a decision (action)

Market Research I _session 1_theorical part . | p 12

 MARKET RESEARCH PROCESS

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 Market Research is not a
“vending machine”

Order outbox

Order outbox

Market Research I _session 1_theorical part . | p 14

 THE PHASES OF MARKET RESEARCH

DEFINITION OF THE
PROBLEM

CONDUCT THE
RESEARCH
The usefulness of the
Information will
depend on its level of
ANALYSIS OF THE
RESULTS depth and quality.

DESICION MAKING

Market Research I _session 1_theorical part . | p 15

 THE PHASES OF MARKET RESEARCH

Steps of marketing research

Problem and need of information

Problem Previous

Design Research design / project aproval

Research
Realization Conducting research (field work)

Analysis of the Information/Codification /

Analysis
recording / tabulation / data analysis
Results
Progress results / report / presentation of
Conclusions
conclusions

Decision making Action Plan / decision making

Decision

Market Research I _session 1_theorical part . | p 16

 THE PHASES OF MARKET RESEARCH

If Marketing can’t describe

exactly what it wants to
know ...

... Marketing research can’t

provide the proper results to
make a decision.

Market Research I _session 1_theorical part . | p 17

 THE PHASES OF MARKET RESEARCH
Previous: Problem definition and specific
purposes to research
Marketing completes the“Briefing” to MR. The following aspects are included:

✓ Problem definition

✓ Lack of Knowledge

✓ General and specific purposes

✓ Action depending in the results

✓ Target Group

✓ Timings

Market Research I _session 1_theorical part . | p 18

 THE PHASES OF MARKET RESEARCH

Research Design
✓ Research approach:
✓ Exploratory
✓ Descriptive
✓ Causal
✓ Predictive
✓ Sources of information
✓ Methodology
✓ Sample
✓ The Animation Guide or the Questionnaire
✓ Budget

Market Research I _session 1_theorical part . | p 19

 THE PHASES OF MARKET RESEARCH

Realization Field work

For guaranteeing the quality of field work is important:

✓ The selection of the interviewers and Moderators

✓ The interviewers’s and moderator’s “briefing”
✓ Field supervisión and the Field Quality

Market Research I _session 1_theorical part . | p 20

 THE PHASES OF MARKET RESEARCH

Analysis

✓ Analysis of the
✓ Codification
information collected
✓ Recording
✓ Of Words/Dialogues
✓ Tabulation (tabulation plan)
and Conversations
✓ Analysis

Market Research I _session 1_theorical part . | p 21

 THE PHASES OF MARKET RESEARCH
Results Report and presentation

✓ Progress Report

✓ Report:
✓ Background
✓ Objetives
✓ Methodology
✓ Results
✓ Conclusions
✓ Recommendations

✓ Presentation of conclusions

Market Research I _session 1_theorical part . | p 22

 Types of errors in marketing research

When we formulate the problem: In data processing

1 4
 Error defining the universe  Codification error
 Error defining the objectives  Recording error
 Error establishing the hypotheses

In the research design :

In the data analysis
2 5
 Error of measurement
 Error in the sample design  Weighting error
 Error in the selected method  Data analysis error
 Error in the instrument for collecting  Wrong interpretation of results
information

Collecting the information

In the results and conclusions
3 6
 Non-answer error
 Transcription error
 Error selecting the sample
 Bad communication of results
 Error in the question
 Error registering the answer
 Error by inventing
 Inability error
 Error by resistance

Market Research I _session 1_theorical part . | p 23

 What are the keys for doing a good market
research?

It has to be valid and reliable

Without black boxes

Operative to decision
making

To enable us to stay
ahead of the
competition

Market Research I _session 1_theorical part . | p 24

 FUNCTIONS OF MARKET RESEARCH

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 Functions of market research
Market research is integrated in the marketing system and develops four fundamental
functions (MCDANIEL y GATES 1995):

Explorative Generate ideas, Insights. Why did sales fall down

Identify important variables. dramatically last month?
Redefine problems.

Descriptive Describe How many people saw our

advertise?

Causal Determine the relationship Are our customers convinced

among variables that our product has a better
flavor?

Predictive Predict the future With the tested marketing mix,

what level of sales will be
reached next year?

Market Research I _session 1_theorical part . | p 26

 EXPLORATIVE STUDIES
Explorative

PURPOSES:

✓ Obtain more information for developing an approach to the problem

✓ Formulate a problem or define it more precisely
✓ Identify alternative actions to the initial one.
✓ Develop hypotheses
✓ “Winning” ideas or different approaches to the initial one.

Market Research I _session 1_theorical part . | p 27

 DESCRIPTIVE STUDIES
Descriptive

✓ Purpose: the description of the characteristics of something, for

example, market characteristics.

✓ Needed information is clearly defined, the hypotheses are formulated.

✓ It requires the specificiation of:

– Who is going to provide the information
– What information will be obtained and how
– When the information must be collected
– Where the information must be obtained
– Which is the proper sample size
– Why that information must be obtained

Market Research I _session 1_theorical part . | p 28

 CAUSAL OR EXPERIMENTAL STUDIES
Causal

✓ Intend to obtain evidence of cause-effect relationships:

✓ Understand which variables are the cause (Independent var.) and what variables
are the effect (Dependent var.) of a phenomenon

✓ Determine the nature of the causal relationship between variables and the effect
to be predicted

✓ Requires a planned and structured design

✓ Main technique: the experiment

Market Research I _session 1_theorical part . | p 29

 SOURCES OF INFORMATION

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 What sources of information do we use?

SECONDARY PRIMARY

Market Research I _session 1_theorical part . | p 31

 INFORMATION

SECONDARY
• Classification:

– INTERNAL: generated within the organization

– EXTERNAL: generated by sources outside the

organization
• published material
• database
• Material that research companies offer
• Internet
• Forums
• RRSS ...

Market Research I _session 1_theorical part . | p 32

 INFORMATION

PRIMARY
• Two types:

–QUANTITATIVE RESEARCH

–QUALITATIVE RESEARCH

Market Research I _session 1_theorical part . | p 33

 What sources of information do we use?

SECONDARY PRIMARY

EXPLORATORY DESCRIPTIVE
CAUSAL
RESEARCH RESEARCH
RESEARCH

QUALITATIVE QUANTITATIVE

Market Research I _session 1_theorical part . | p 34

 FOR THE NEXT SESSION YOU HAVE TO LOOK FOR INFORMATION ABOUT:

QUALITATIVE RESEARCH

QUANTITATIVE RESEARCH

1. MEANING
2. WHAT IT MEASURES, HOW IT CAN HELP US
3. WHAT TECHNIQUES DOES IT USE, HOW DOES IT WORK?
4. EXAMPLES

Market Research I _session 1_theorical part . | p 35