Introduction to Market Research

An Introduction
to
Business Statistics and Research
MG321
<kankajit_k@payap.ac.th>
<kankajit@live.com>

Part I
Introduction To Business Research
 Research

in business
 Scientific thinking
 The research process
 The research proposal
 Ethics in business research

Part II
The Design of Research
 Design

strategies
 Measurement
 Scaling design
 Sampling design

Part IV
Analysis and Presentation of Data
 Data

preparation and Preliminary Analysis
 Hypothesis Testing
 Measures of Association
 Multivariate Analysis: An Overview
 Presenting Results: Written and Oral Report

Class Schedule
Week 4-11 (continue)
 Business
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Statistics

Parametric and non-parametric statistics
Descriptive statistics
Probability concepts and distributions
Sampling theory
Statistical inference and correlation
Multiple regression analysis

Assignments


Individual Research Project Topic


Research Paper








Proposal writing
Sampling design
Questionnaire design

50%
20%

5%
5%
10%

SPSS Analysis
(Data Treatment & Data Tabulation)

10%

Research Findings and Report Presentation
PowerPoint Presentation and Oral Presentation 20%



Exercises Quiz

20%



Final Exam

30%

Assignment Due Date
 Research

Project Topic
Submission by






Research Proposal
Draft Questionnaire
Final Cleaned Data
Research Project Presentation
Final Research Paper

31 Oct
15 Nov
6 Dec
Feb
Feb
March

An Introduction
to
Statistics for Research

Business Research
What is It All About?

Market Research for
Business Planning
 Can

be used to determine how to market
your specific product or service.

 Reduce

 Use

risks at the earliest possible stage.

the information in planning the build-up
of your business.

Things should be found out
through MR in order to know if
your business is feasible i.e.
Market information











Who are the customers?
Where are they located and how can they be contacted?
What quantity and quality do they want?
What is the best time to sell?
What is the long-term or historical price data over a
number of years?
What is the expected production in the country?
Is there more demand for one product or another?
Etc.

Things should be found out
through MR in order to know if
your business is feasible i.e.
Market Segmentation
Market Trend & Market Size
Market Landscape










Customer analysis
Competitor analysis
Risk analysis
Product research
Advertising research

Questions
that can be answered through
Marketing Research:




What is happening in the market?
What are the trends?
Who are the competitors?



How do consumers talk about the products or services in the
market?



Which needs are important?
Are the needs being met by current products or services?



What Marketing Research is All About?
“Marketing Research is the process of systematic gathering,
recording and analyzing of data about customers, competitors
and the market.”
“Marketing Research is discovering what people want, need, or
believe.
It can also involve discovering how they act.”
“Marketing Research is the search for, and retrieval of, existing,
discovery or creation of new information or knowledge for a
specific purpose.”

What Marketing Research is All About?
“The purpose of marketing research is to help
companies make better business decisions
about the development and marketing of their
Products or Services.”
“Marketing Research represents the voice of
the consumer in a company.”

Marketing Research, and other forms of
Business Research include:


Market Research is broader in scope and examines all aspects of a
business environment;







asks questions about competitors,
market structure,
government regulations,
economic trends,
technological advances,
and numerous other factors that make up the business environment.



Product Research - This looks at what products can be produced with
available technology, and what new product innovations near-future
technology can develop.



Advertising Research - is a specialized form of marketing research
conducted to improve the efficacy of advertising.

Marketing Research Methods
Methodologically, marketing research uses the following types of
research designs:


Based on questioning:



Qualitative Marketing Research – generally used for exploratory
purposes - small number of respondents - not generalizable to the
whole population - statistical significance and confidence not calculated
- examples include focus groups, in-depth interviews, and
projective techniques



Quantitative Marketing Research - generally used to draw
conclusions - tests a specific hypothesis - uses random sampling
techniques so as to infer from the sample to the population - involves a
large number of respondents - examples include surveys and
questionnaires

Marketing Research Methods
Methodologically, marketing research uses the following types of
research designs:


Based on observations:



Ethnographic Studies -, by nature qualitative, the researcher observes
social phenomena in their natural setting - observations can occur
cross-sectionally (observations made at one time) or longitudinally
(observations occur over several time-periods) - examples include
product-use analysis and computer cookie traces



Experimental Techniques -, by nature quantitative, the researcher
creates a quasi-artificial environment to try to control spurious factors,
then manipulates at least one of the variables - examples include
purchase laboratories and test markets

Business to Business Market Research


Business to business (b2b) research is more complicated than
consumer research.



Need to know what type of multi-faceted approach will answer the
objectives, seldom is it possible to find the answers using just one
method.



Finding the right respondents is crucial, they are often busy, and may
not want to participate. Encouraging them to “open up” is yet another
skill required.



Last, but not least, most business research leads to “strategic
decisions” and this means that the business researcher must have
expertise in developing strategies that are strongly rooted in the
research findings and acceptable to the client.

Perform Marketing Research with
4 Basic Steps of MR Process
1.

Defining the Research Problem

2.

Establishing the Research Design

3.

Collecting and Analyzing Data

4.

Formulate Findings

Selecting and Establishing
Research Design

1.

Select the Research Design,

2.

Identify Information Types and Sources and

3.

Determine and Design Research
Instrument.

Types of marketing research
Marketing research techniques come in many forms,
including:





coolhunting - to make observations and predictions
in changes of new or existing cultural trends in areas
such as fashion, music, films, television, youth
culture and lifestyle
concept testing - to test the acceptance of a
concept by target consumers
brand name testing - what do consumers feel
about the names of the products?

Marketing research techniques come in many forms,
including:






consumer decision process research - to
determine what motivates people to buy and what
decision-making process they use
brand equity research - how favorably do
consumers view the brand?
demand estimation - to determine the approximate
level of demand for the product

Marketing research techniques come in many forms, including:






test marketing - a small-scale product launch used to determine
the likely acceptance of the product when it is introduced into a
wider market
Commercial eye tracking research - examine advertisements,
package designs, websites, etc by analyzing visual behavior of
the consumer
Advertising Research – used to predict copy testing or track
the efficacy of advertisements for any medium, measured by the
ad’s ability to get attention, communicate the message, build the
brand’s image, and motivate the consumer to purchase the
product or service. (Young, 2005)









copy testing – predicts in-market performance of an ad before it
airs by analyzing audience levels of attention, brand linkage,
motivation, entertainment, and communication, as well as
breaking down the ad’s Flow of Attention and Flow of Emotion
Ad Tracking – periodic or continuous in-market research to
monitor a brand’s performance using measures such as brand
awareness, brand preference, and product usage
Marketing Effectiveness and analytics - Building models and
measuring results to determine the effectiveness of individual
marketing activities
segmentation research - to determine the demographic,
psychographic, and behavioural characteristics of potential
buyers








customer satisfaction studies - exit interviews or surveys that
determine a customer's level of satisfaction with the quality of the
transaction
distribution channel audits - to assess distributors’ and retailers’
attitudes toward a product, brand, or company
mystery shopping - An employee or representative of the market
research firm anonymously contacts a salesperson and indicates he
or she is shopping for a product. The shopper then records the
entire experience. This method is often used for quality control or for
researching competitors' products.
store audit - to measure the sales of a product or product line at a
statistically selected store sample in order to determine market
share, or to determine whether a retail store provides adequate
service

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positioning research - how does the target market see the brand
relative to competitors? - what does the brand stand for?
price elasticity testing - to determine how sensitive customers are
to price changes
sales forecasting - to determine the expected level of sales given
the level of demand. With respect to other factors like Advertising
expenditure, sales promotion etc.
Internet Strategic Intelligence - searching for customer opinions in
the Internet: chats, forums, web pages, blogs... where people
express freely about their experiences with products, becoming
strong "opinion formers"
online panel - a group of individual who accepted to respond to
marketing research online

Introduction to Market Research

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