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Young Marketers Elite 3 - Assignment 4.1 - Nhóm 1 - Giang, Hậu, Liêm

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Young Marketers Elite 3 - Assignment 4.1 - Nhóm 1 - Giang, Hậu, Liêm

  1. 1. YOUNG MARKETERS ELITE PROGRAM – SEASON 3 [Assignment 4.1] Trường Liêm + Phúc Hậu+ Đình Giang
  2. 2. Masan wanted to find-out what is consumers’ unmet need about eating noodle What we want to know? - Objective - Think Collect & gather relevant information Stand-up Analyze, aggregate to gain understanding about objective Sit-down What we do in market research ACTION 1. In 2007, Masan planned to launch a new noodles brand Collect & gather lots of information about eating noodles behavior and perception about noodles of consumers Analyze, aggregate to explore that people are afraid of being hot inside body Launched Omachi noodles “Rất ngon mà không sợ nóng” Reduce Uncertainty while making decisions 2 examples: Sunsilk wanted to know buying behavior of consumers toward brand to have better revenue 2. Sunsilk: Goal of next year is increase 20% in sales revenue. Collect & Gather information about Who are buying Sunsilk, where they buy, how much they buy, when they buy, why they buy, why not they buy Analyze, aggregate to have the result of penetration (high), consumption (low) Sunsilk promoted a new SKU with larger size Measure current performance Why marketers need market research? Research is an organized & systematic way of finding answers to questions So, what is market research? “Results of research help marketers sharpen their ideas - make them more practical, logical and workable.” Example: In 1996, RJ Renold company (America) had an idea of creating a kind of tobacco that was not harmful to health and environmentally friendly. They launched a smokeless tobacco called “Eclipse”. This new brand completely failed due to lacking of careful market research. Most of consumers perceived that white smoke of tobacco was a huge part of joyful moment and lacking of smoke destroyed smoking style.
  3. 3. 1. Help marketers feel more confident before making decisions 2. Realize opportunities & threats 3. Tracking and Evaluating marketing actions 4. Help marketers understand much more deeply what they are researching Ex 1: ACTION Club wanted to know which soft skill that students care most, they carried out a survey so that they knew what should become concept of the next seminar. Ex 2: CAO Fine Jewelry - a luxurious jewelry brand of PNJ wanted to have it’s own powerful logo before being launched. After research, marketers found out that many people felt the name “CAO” was very “hard”/ “tough”. Therefore, a soft and elegant was born in a confident way. Ex 1: Nivea made a research to discover consumers’ unmet need in using deodorant was “erasing yellow stain”. It was a challenge and also great opportunity for Nivea to research, development and eventually launch Nivea Black & White which decreased sweating and yellow stain on clothes. Ex 2: Before Revive was launched in Vietnam, market research showed a big challenge when consumers didn’t aware and weren’t ready to consume isotonic water due to its strange flavor. Therefore, at the first time, marketing campaigns concentrated on educating consumers about the role of isotonic water in life. Ex 1: Johnnie Walker wanted to check effectiveness of marketing campaign “Yulu: words of a journey” in China, they hire MHD/TNS research agency to measure the success: increase from 19% to 57% on sum of social conversation, high ROI with value of earned-media was 44 million USD, market share grew 2% (still failed to compete with the biggest rival). Ex 2: Starbuck carried out a survey to determine brand’s health (brand health check) Ex: Although there are many advertisements about washing powder helps mom save time by not need to scrubbing clothes, research shows that moms still believe that clothes need to be scrubbed after soaking (habitual need). OMO launched new SKU: OMO Matic with intelligent ball to help clothes as clean as scrubbing by hands. Comments: Although OMO deeply understood target consumers, but communications were too poor for consumers to aware of intelligent ball.
  4. 4. based on many criteria… Methodologies Source of Data Marketing research Client Request Desk research Quantitative research Qualitative research Primary data Secondary data Ad-hoc Continuou s Syndicated Customized DESK RESEARCH Find information from previous studies _ Pros: Easy to find the answers, fast, low cost, _ Cons: Not enough data, not customized to our objectives of research. QUANTITATIVE RESEARCH Common method: telephone survey, email survey, field test => Gain measurement about understandings QUALITATIVE RESEARCH Common method: focus group, in- depth interview, discussion, observation through home visit or channel visit => Gain understanding without measurement Methodologies: In general, qualitative research brings more valuable and deeper information than Quantitative research. But the results in qualitative research don’t represent for the whole market like quantitative research. So, we should combine these 2 methods to have best results. SECONDARY RESEARCH PRIMARY RESEARCH Investigate an issue of specific need from market, consumers, shoppers _ Pros: Customized information, specific results _ Cons: Costly, take time What we want to know? - Objective - Think Collect & gather relevant information Stand-up Analyze, aggregate to gain understanding about objective Sit-down Desk research: Primary information, initial understandings Qualitative research: Dig deeper to find valuable understandings Quantitative research: Measure valuable understandings in the whole market
  5. 5. Brand innovation is the process of harnessing creative ideas aiming to disrupt and delight consumers to meet business needs. In specific, it can take form of category expansion, launching in new territory, reaching new consumer group, innovating the brand core This is usually a big step of brand, therefore, thorough knowledge about the market and brand is very important. To gain such knowledge, the following types of research should be taken TYPE OF DATA NEEDED HOW TO COLLECT THEM RESEARCH TOOLS IN DETAILS Strategic info Knowledge needed for long-term strategy and implications of the brand, guiding decisions Databank info Collection and updating of all relevant market information and numerical data Contemporary info Current knowledge of trends, societal change, news and what consumers care about Tactical info Information that helps undertaking the current marketing activities more effectively Strategic/Ad hoc Research Market information/ Continuous Research Desk/Secondary Research Primary Research Habits and Attitudes Segmentation Drivers of Brand Choice Retail Audit Data Consumer Panel Data Communication Tracking Trend Analysis Consumer World Care-line External Data Pack Development Pack Test Communication Development Mix Development Product Test Communication Test Launch MonitorBrand Tracker Qualitative Quantitative
  6. 6. Rewind Collect, analyze and review available information Idea Generate, develop and select Ideas Feasibility Design and develop the entire product mix Capability Prepare for the launch Launch Lauch product track the launch Growth Communicate and Activate further Maturity Keep brand connection Decline Start to develop new products Habits and Attitudes Segmentation Drivers of Brand Choice Retail Audit Data Consumer Panel Data Communication Tracking Trend Analysis Consumer World Care-line External Data Idea Generation and Development Concept Test Pack Development Pack Test Communication Development Mix Development Product Test Final Concept Test Communication Test Launch Monitor Brand Tracker Stop doing research for the currrent product and start to investigate the market again to launch new product or relaunch oid product in accordance with this process
  7. 7. Rewind Idea Feasibility Capability Launch Growth Maturity Decline This example is aimed to explain why the brand needs such type of research information in each phase of the innovation process rather than go into detail about each type of research Let’s take Larue Lemon product launch as an example Strategic info What is the habit of drinking beer? What do attitude of them to beer? Where? When? With whom? What are the overall segmentations in beer market? How many groups are there? How many brand are there and what they are doing? What are key drivers for them to choose a beer brand? Databank info How big is the beer category is? Is it growing or declining? Is competitor doing well? Price? In-store activities? What are consumer’s buying behavior? Who are they? How do they perceive the Larue brand image? Contemporary info What is consumers currently caring about? Is there any big trend or move and what are their response? Is there any event or news that is relevant to the category? Develop Idea Is the current information enough to create an idea? If not, Larue will need to do interview or carry out a focus group to gain understanding into consumers. If ideas have been generated, what is the shortlist? Which ones are the most effective? How consumers will take it? Develop the holistic mix What is the insight for 6P? What is insight for packaging? Colors? Materials? What is insight for communication? Is there any further information needed? If the mix, packaging, communication are developed? How will consumers take Larue Lemon? Is the taste suitable for the consumers? Is there any adjustment needed? Prepare for the launch Is everything ok? How will consumers perceive the whole product mix and the communication? Prepare for the launch Is the launch taken well by consumers? Is it going with the brand positioning? Are the ads, commercials of Larue Lemon gaining enough intention? Has the media reach the target? Consumers’ reactions to brand communication?
  8. 8. The 1st thing we need for a research project is the brief. It is a document describing the need, a guide for a comprehensive proposal. A good research is starting with a good brief. Key Elements of a Research Brief: Project/Research background General information about the category, competitors, business/brand challenge… Business Objective - this is the objective of the marketing project the research is for, it is the overall strategic objective Research Objective – detailed objective of what you need to know Expected use of results How to use the result for the next business action plan. Information Requirement/Key information to be obtained The detailed, must-have information in report. Action Standard Action plan from the result. Research Methodology Types of research we want to use Sample definition • Respondent Requirements Location? SEC? Gender? Behavior?... • Segment Breakouts Required Breakdown group depending on objective Timing: Fieldwork When conducting the fieldwork Timing: Result expected When the report is available? Stimulus Material Any material s needed for the research? Budget Any indication for the budget to measure the scale, the mean of resarch
  9. 9. Project/Research background •Launching in 2012, DM BRAND quickly and successfully grabbed the attention of young consumers leading to both share/volume and brand health growth thanks to bold and differentiated proposition. However, there is a stagnant signal since early 2014 up to now driven by all indexes (consumers/ retailers’ support and distribution…). Key source of volume mainly comes from core target (12 – 29 YOA), esp. students, male skew, urban level. •Among regions, North is they key contributor with more than 80% while the other regions are still low base •The launching model “mass awareness led by TVC – experiential sampling – GTM”, challenging attitude has positive progress of brand imagery(yet low level) driven by distinction component thru communication with the consistent platforms (Sport and Stunt). However, brand consumption and volume not yet turns out strongly as expected. Trial increases but low conversion rate to users and lapsers are also increasing higher than core repeater. And the normal user are quite not connecting with the brand due to hard core communication image (it’s not me, too adventurous ) •Hence, there is a critical need drive consumption for brand growth, complete the mission of adding incremental to total COMPANY via attacking COMPETITOR X. ->This research is to support to find the driver and barrier for consumption and how to make our brand more relevancies Business Objective To increase consumption and volume growth Research Objective • To define the key barriers/drivers amongst target consumers and how the channel marketing impacts to brand image • Explore the new execution platform to deliver the relevancies Date 16 JAN 16 Project Name ASSIGNMENT 4 Location/s HCMC, HANOI Brand/s DM BRAND Agency Millward Brown
  10. 10. Expected use of results A holistic plan (communication, interactive activities, pack innovation, GTM…) to grow consumption among target consumers with clear insight, actions and priorities Information Requirement/Key information to be obtained • U&A beverage consumption • Brand consumer perception towards DM BRAND and competitors. • How to they perceive the brand image? • Communication evaluation (TVC, experiential sampling, outdoor, digital, POSM) • Channel/ availability • Explore new execution platforms Action Standard • Plan to tackle the barrier of consumers and leverage the driver to push more. Research Methodology Qualitative, Focus group discussion Sample definition •Location: HCM, Hanoi •Gender: Male/ Female •SEC: ABC •Age group: 13-15 yo, 16-18 y.o •User: drink the brand at least once per week and drink it in last 4 months •On the go uplift users: drink the same product in cat in last4 wks. • Lapsers Timing: Fieldwork 1 Feb Timing: Result expected 15 Mar Stimulus Material Current TVC, POSM,… Budget 20000USD

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