Understanding the importance of Market Research Application, presented by ECC member, MS. Van for ECC Sunday meeting dated October 11, 2009.

1. Market Research Applications
Van Thi Nguyen
Oct 11, 2009

2. Why do Research?
• Common answers
– To understand my consumer, to see how my product is
working, to measure my advertising effectiveness and
so forth
– These are the means but they are not the real
reasons.
• Research is conducted to help REDUCE
BUSINESS RISKS and MAINTAIN OR
INCREASE PROFITS. Its other associated
function is to MONITOR THE EFFECTIVENESS
OF THE MARKETING PLAN
[Mkt Research Applications]

3. Market Research: A Marketing Decision Making
Framework
The Marketing Decision Environment
The
The Environment
Consumer
Awareness The Political &
& Marketing Mix Legal
knowledge
Internal
Behavior, past,
present and
Product Price
future
including
Brand Name, Stakeholders
Packaging
Demographics and Service Competitive
Psychographics Promotion Place
& other descriptors including e.g. distribution Economic
Advertising,
P.R. and
Attitudes Personal Cultural &
and opinions Selling Social
Needs and
Technological
wants
& Physical
Source: Burke Institute
[Mkt Research Applications]

4. Research Needs and the Product Life-Cycle
Introductory Growth Maturity Decline
Sales and Profit
Stage Stage Stage Stage
Total Market
Sales
+
$0 Time
Research Types • Tracking • Market extension
• Market definition • Audits • Repositioning research
• Concept generation • Consumer panel • Identification of new
• Concept / product evaluation data users, uses, markets
• Pack / advertising development • Tracking studies
[Mkt Research Applications]

5. “People” - It’s about Knowing The
Consumer
Needs and
Needs and
wants
wants • Describe consumer behavior
Attitudes
Attitudes
and
and
• Identify needs and expectations
opinions
opinions • Determine markets/segments
Awareness
Awareness
• Describe markets
&
&
knowledge
knowledge Behavior,
Behavior,
past, present
past, present
and future
and future
Demographics
Demographics
Psychographics
Psychographics
& other
& other
descriptors
descriptors
[Mkt Research Applications]

6. Translating Needs into “Product” ideas
• Concept development
– brand
– packaging
– advertising
• Consumer receptiveness
[Mkt Research Applications]

7. “Price” - Identify Pricing Strategy
• Identifying price points
• Understanding price elasticity
• Price Choice
[Mkt Research Applications]

8. “Place” - Making it Available & Accessible
• Evaluate distribution channels
and retailers
• Identify trade-related strategies
• Evaluate on shelf product
placement and display
• Evaluate in store shopping
environment and consumer
behavior
[Mkt Research Applications]

9. “Promotion” of products to consumers
• Plan promotional appeals
• Evaluate advertising/ promo
campaigns
– Awareness recall
Advertising – Ad contact
– Reach & impact
Public Relations
Personal Selling • Plan and evaluate media
placement
• Evaluate media
– Readership
– TV viewing figures
– Ad spend
[Mkt Research Applications]

10. Total Marketing Mix
• Evaluate marketing plans/input
• Monitor brand health
• Evaluate test markets
• Forecast sales volumes
[Mkt Research Applications]

11. Market Research solutions to address needs at each
stage of Product and Service lifecycle
Revitalise
Monitor
Line
Brand
Extension
Launch Relaunch
Tracking
Develop
- Consumer
- Retail
Advertising
Evaluate - Media
Pretest
Product Testing
Conceptualise Pricing /
Concept Packaging /
Testing Features /
Investigate Concept Positioning
Screening
Idea
Generation
Market
Definition
Feasibility
Pre market Strategy Maturity and
development Market launch maintenance
introduction
[Mkt Research Applications]

12. Research Applications
Consumer Dynamics Insights
• Consumer Decision Making
• Shopping Behavior
• Consumer Segmentation Managing brands and
customers
• Brand Health
Marketing mix elements Management
• Customer Relationship
• Advertising Management
• Packaging
• Pricing
• Product Innovation
[Mkt Research Applications]