MS Lecture Slides Session 2_24 Sep 2024.pdf

ESSEC Bachelor Lesson 2 Marketing

1. Marketing Research
Overview
24 Sep 2024
Hyo Rim KANG
GBBA Session 2

2. Course Structure (Tentative)
2

3. Course Structure (Tentative)
3

4. The Structure of Today’s Session
1.Marketing Applications
2.Marketing ResearchOverview
3.Roles & Values of Marketing Research
4.Marketing Research Process
5.Team Formation & Discussion
4

5. Any Real-life Marketing (or
Marketing Research)
Applications?
5

6. Which of the following statements best
describes your comfort level with
statistical analysis of data?
6
Comfort with Statistical Analysis of Data# %
I am not very good at it.
I can do it if required but it is not a strength.
I am reasonably good at it.
I am very good at it.
Total

7. Which of the following statements best
describes your comfort level with
statistical analysis of data?
7
Comfort with Statistical Analysis of Data# %
I am not very good at it. 1830%
I can do it if required but it is not a strength.3660%
I am reasonably good at it. 6 10%
I am very good at it. 0 0%
Total 60

8. What 3 words first come to mind when
you think of the word “Marketing?”
8
Responses in pre-course survey (first 60 responses)

9. What 3 words first come to mind when
you think of the word “Marketing?” - 2
9
Responses in pre-course survey (first 60 responses)

10. Real-life Cases (Kiehl’sGreen Marketing)

11. Common Survey (NPS)
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12. 12

13. Real-life Lesson of Today
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If you don’t do anything,
Nothing would Happen.
Do Something to make it Happen.
How do you want to feel at the end
of this day?

14. Objectives of Today’s Session
To understand
▪the basic concepts and practices of the marketing
research discipline
▪why do we need marketing research
▪the marketing research process
▪the use of marketing research methods & data types
➢ To encourage you to be curious about human (e.g.,
customer) behavior in a systemic & analytic manner
14

15. What is Marketing Research?
▪Marketing Research is the systematic design,
collection, analysis and reporting of data relevant to
a specific marketing situation facing an organization.
▪Marketing research tasks include:
➢ Designing methods for collecting information
➢ Managing the information collection process
➢ Analyzing and interpreting results
➢ Communicating findings to decision makers15

16. SO WHAT?
Why do we need
“Marketing Research”?
16

17. How Marketing Research is Used
▪Marketing research is the function that connects the
customer to the marketer with information.
▪It is used to:
➢ Identify & define marketing opportunities & problems
➢ Generate, refine and evaluate marketing actions
➢ Monitor marketing performance
➢ Improve understanding of choices & behaviors
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18. 18
Marketing Process

19. The Roles & Values of
Marketing Research
▪Managerial decisions may involve new contexts where
experience may be absent or even misleading.
▪It is particularly relevant in entering new markets.
➢ the introduction of Haze air-purifier in Singapore
▪Marketing research draws on the social sciences for methods
& theory.
▪Marketers first must understand the questions or business
problems, then use the appropriate tools.
▪Marketing research applies to problems involving the 4 Ps.
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20. How Marketing Research Works in 4Ps?
(Product)
▪New Product Development & Introduction
▪Concept and product testing or test marketing
✓ How does a product perform for the customer?
✓ How can a product be improved or exceed customer expectations?
▪Branding
✓ Even established brands undertake research for early detection of changes
in meaning & attitudes toward a brand
▪Positioning
✓ A process of understanding how current or possible products are perceived
by consumers.
20

21. How Marketing Research Works in 4Ps?
(Price)
▪Pricing decisions involve pricing new products, establishing price
levels in test marketing, and modifying prices for existing products.
✓ How large is the demand potential within the target market at
various price levels?
✓ What are the sales forecasts at various price levels?
✓ How sensitive is demand to changes in price levels?
✓ Are there identifiable segments that have different price
sensitivities?
✓ Are there opportunities to offer different price lines for different
target markets?
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22. How Marketing Research Works in 4Ps?
(Place)
▪Marketing Research peculiar to retailers include: Types of
distribution, Attitudes of channel members, Intensity of wholesale
& retail coverage, Channel margins, Location of wholesale & retail
outlets
▪Much retailing research focuses on database development through
optical scanning at the point of sale.
▪In behavioral targeting, online retailers work with content sites to
display ads based on data collected about user behaviors.
▪Shopper marketing gives retailers an understanding of a customer’s
purchase journey and addresses product category management,
displays, sales, packaging, and promotion.
22

23. How Marketing Research Works in 4Ps?
(Promotion)
▪It is essential that companies know how to obtain good returns from
their promotional budgets.
▪Traditional & digital media present challenges to businesses who
require reliable metrics to accurately gauge advertising return.
▪Marketing researchers must develop meaningful metrics and then
collect the data for those metrics.
▪The 3 most common research tasks in IMC
✓ Advertising effectiveness research
✓ Attitudinal research
✓ Sales tracking
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24. Types of Data Collection
Should we collect data or use data already collected?
Secondary Data Primary Data
Information that already exists
somewhere, having been collected
for another purpose
➢A growing emphasis on
secondary data collection.
➢So much data are being collected
under the concept of “Big Data”
▪Advantages
- Lower cost
- Obtained quickly
- Cannot collect otherwise
▪Disadvantages (Data may not be)
- Relevant, Accurate
- Current, Impartial
Information collected for a current
problem
▪Data that you create
▪Can be collected via Qualitative &
Quantitative research
▪Primary Data Collection requires
➢Research Approaches
➢Contact Methods
➢Sampling Plan
➢Research Instruments
24

25. Useful Secondary Sources in
Marketing Research
•Financial Times, New York Times, Wall Street Journal,
Channel News Asia, The Straits Times (Singapore-Specific)
•Harvard Business Review
•Marketing Week (https://www.marketingweek.com/)
•Google Scholar (https://scholar.google.com/ )
•Research methods
(https://socialresearchmethods.net/kb/table-of-
contents/)
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26. (Primary) Research Methods
▪Final research report include
26
Qualitative Quantitative
Nature of
Research
Exploratory Descriptive
Flexibility in
Research
Design
Textual: obtained from
audiotapes, video and field
notes
Design, conduct, analyze
data
Flexible
Numerical: obtained by
assigning numerical values to
responses
Focus on designing the
questionnaire
Stable & Fixed
Types of
Questions
Open-ended
Interactive
Closed-ended
Independent
Sample Size Small Large
Technique In-depth interview,
Focus group, Observation,
Ethnography
Survey, Experiment,
Secondary data analysis

27. Primary Data Collection
(Research Approaches)
▪Observational Research involves gathering
primary data by observing relevant people,
actions, and situations.
▪Ethnographic Research involves sending
trained observers to watch and interact with
consumers in their natural environments.
27

28. Primary Data Collection
(Research Approaches)
▪Survey Research involves gathering primary data
by asking people questions about their knowledge,
attitudes, preferences, and buying behavior.
▪Experimental Research involves gathering primary
data by selecting matched groups of subjects,
giving them different treatments, controlling
related factors, and checking for differences in
group.
28

29. Primary Data Collection
(Research Approaches)
Focus Group – Personal Contact Method
▪A popular method of doing exploratory research
▪A loosely structured free-flowing discussion among a small
group (6 to 10 people) of target customers facilitated by a
professional moderator
▪Challenges
- Expensive
- Difficult to generalize from small group
- Consumers not always open and honest 29

30. Actual Conducted
Focus Group Analysis
30

31. Primary Data Collection
(Research Approaches)
Online Contact Method
▪Advantages
- Low cost, Speed, Higher Response Rates
- Good for hard to reach groups
31

32. Primary Data Collection
(Research Instruments - Questionnaires)
▪Most common
▪In person, by phone, or online
▪Flexible
▪Researchers must be careful with wording and
ordering of questions (e.g., Closed-ended / Open-
ended).
▪Useful in exploratory research
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33. Marketing Research Process
Overview
33

34. Marketing Research Process
Overview
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35. Determining Need for
Information Research
▪Can the problem be resolved using existing information and
managerial judgement?
▪Is information available in internal record system?
▪Is there time to conduct the necessary research?
▪Do the benefits outweigh the costs?
▪Will the research provide useful feedback for decision making?
▪Will the research give competitors too much information
about strategy?
35

36. Marketing Research Process
Transforming Data into Knowledge
▪The primary goal of the research process is to provide decision
makers with knowledge to resolve problems or pursue opportunities.
▪Data becomes knowledge when someone interprets the data and
attaches meaning.
▪Below factors impact how many steps are taken & in what order
✓ The complexity of the problem
✓ The urgency for solving the problem
✓ The cost of alternative approaches
✓ The clarification of information needs
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37. Converting Marketing Problems
into Research Problems
▪ESSEC experiences a drop in the quality & quantity of applicants to
its BBA program.
✓ What should it do reverse the trend?
▪Dove brand manager wishes to assess the impact of its forthcoming
TV commercial campaign for an newly developed shampoo.
✓ What impact will the campaign have an awareness, trial, attitude
towards and adoption of the new shampoo?
▪Samsung is designing a smartphone aimed at the senior citizen
market.
✓ What are the key features it should include in the phone?
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38. Define Research Questions
▪The researcher conducts a review of the literature.
▪Redefine the initial problem as a research question.
▪This step is important as it influences the remaining steps.
▪Restate into key questions: how, what, where, when, or why.
▪Determine the types of data that will best answer each question.
▪“Can the question be addressed with existing data or does the
question require new data?”
▪Consider other issues such as data availability, data quality, and
budget or time constraints.
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39. Academic Research in Marketing
(Major Marketing Journal)
Journal Name
▪Journal of Marketing Research
▪Journal of Marketing
▪Journal of Consumer Research
▪Journal of Consumer Psychology
▪Journal of Management
Literature Review is critical.
39

40. Let’s Apply & Discuss
▪Think about one critical marketing
issue from your summer internship
experience.
▪Convert this issue to a doable research
question.
40

41. Finalizing
Team Formation
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42. Team Formation
(Group B)
▪Total 12 Teams
✓ 73 Students Enrolled
➢ 11 Teams with 6 Members (# 66)
➢ 1 Team with 7 Members (# 7)
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42

43. Team Formation
(Group A)
▪Total 12 Teams
✓ 72 Students Enrolled
➢ 12 Teams with 6 Members (# 72)
43
43

44. What is key takeaway
from your team
formation?
44

45. Next Session
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46. Thank You For Your
Great Attention!