06 MM21c4 PPT Part 1

© Noel Capon, 2016. All rights reserved.
PRESENTATION 6 OF 26 / 1
Managing Markets Strategically

Professor Noel Capon
R.C. Kopf Professor of International Marketing
Columbia Business School
New York, NY
Managing Markets Strategically
© Noel Capon, 2016. All rights reserved. PRESENTATION 6 OF 26 / 2
Section I: Marketing and the Firm

Section II: Fundamental Insights for Strategic Marketing
Chapter 3: Market Insight
Chapter 4: Customer Insight
Chapter 5: Insight about Competitors, Company, and Complementers
Chapter 6: Marketing Research
Transition to Strategic Marketing
Section III: Strategic Marketing
Section IV: Implementing the Market Strategy
Section V: Special Marketing Topics
CHAPTER 6
Marketing Research
OPENING CASE: THOMSON FINANCIAL

The Marketing Research Process
Define the Business Issue Identify a Researchable Problem
Formulate Objectives and Hypotheses
Conduct Preliminary Investigation

• Information source: secondary/primary
• Exploratory research
Develop Research Plan

• Select methodology • Design analysis plan
• Design questionnaire • Estimate cost and time
• Determine sample
Collect and Analyze Data

• Implement analysis plan • Interpret results
Prepare Report
• Present findings • Identify managerial implications
• Seek insight • Recommend actions
Define the Business Issue: Illustrations

• Our sales performance isn’t up to par
• We have too few repeat customers
• Distributors don’t seem to be pushing our products
• Our brand image is deteriorating
Identify a Researchable Problem: Illustrations – Why?
Round Problem (Symptom)

1 Our sales performance isn’t up to par.
2 Salespeople aren’t putting in enough effort.
3 It’s hard to persuade customers to buy our products.
4 Our products don’t really satisfy customer needs.
5 Our product design process is deficient on customer insight.

Formulate Objectives and Hypotheses: Illustrations

• What
• Why
• How and how much
• Who
• When

• What
• What do consumers think about our product versus competitor products?
• What specifically do they think are the key benefits we offer?
• What benefits and values should we highlight in our communications?
• Why
• Who
• When

• What
• Why
• Why do some consumers switch among brands?
• Why are some consumers fiercely brand loyal?
• Who
• When

• What
• Why
• How frequently do consumers purchase our product?
• How do consumers prefer to buy?
• How much do consumers purchase on each purchase occasion?
• How much do consumers consume on each use occasion?
• Who
• When

• What
• Why
• Who
• Who makes the purchase decision for these products?
• Who influences the purchase decision?
• Who consumes these products?
• When

• What
• Why
• Who
• When
• When do consumers make the decision to purchase these products?
• When do consumers purchase these products?
• When do consumers consume these products?
Preliminary Investigation
• Source of information – secondary primary
• Exploratory research
Develop the Research Plan

• Select methodology
• Design questionnaire
• Determine sample
• Design analysis plan
• Estimate cost and time
Collect and Analyze Data

• Implement analysis plan
• Interpret results
Prepare the Report

• Present findings
• Seek insight
• Identify managerial implications
• Recommend actions
Critical Distinctions in Marketing Research
• Secondary research
• Company data
• Public data
• Technical data
• Primary research
• Qualitative research
• Quantitative research
• Internal validity: Do the data measure what I want to measure?
• Reliability: If I repeat data collection, will I get the same results?
• External validity: Will the results I secure generalize to other populations?
Primary Secondary
Small-group discussions Review of advertising

Qualitative with customers about campaigns from various
product alternatives product suppliers
Large-scale sample survey Secure independent

of customers about product research reports on
Quantitative alternatives; test customers’ views of product
hypotheses by quantitative alternatives; conduct
methods quantitative analyses
Data Mining – Big Data

• Volume
• Velocity
• Variety
Marketing Research
Session Roadmap
• The marketing research process
• Critical distinctions in marketing research

• Securing qualitative research data
• Securing quantitative research data
• Analyzing quantitative research data
• Market and sales potentials; market and sales forecasts
Securing Qualitative Research Data
• Focus groups
• One-on-one interviews
• Blogs, forums, social networks, Twitter, wikis, YouTube
• Projective techniques
• Observation
• Ethnographic research – day in the life of (DILO)
Projective Techniques
• Constructing a collage
• Imagery
• Role-playing
• Sentence completion
• Storytelling
• Word associations
• Focus groups
• One-on-one interviews
• Blogs, forums, social networks, Twitter, wikis, YouTube
• Projective techniques
• Observation
• Planned
• Unplanned
• Ethnographic research – day in the life of (DILO)
CHAPTER 6
Marketing Research

06 MM21c4 PPT Part 1

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© Noel Capon, 2016. All rights reserved.

Managing Markets Strategically

Section I: Marketing and the Firm

OPENING CASE: THOMSON FINANCIAL

Define the Business Issue Identify a Researchable Problem

Formulate Objectives and Hypotheses

Conduct Preliminary Investigation

Develop Research Plan

Collect and Analyze Data

Define the Business Issue: Illustrations

Identify a Researchable Problem: Illustrations – Why?

Round Problem (Symptom)

2 Salespeople aren’t putting in enough effort.

3 It’s hard to persuade customers to buy our products.

4 Our products don’t really satisfy customer needs.

5 Our product design process is deficient on customer insight.

Formulate Objectives and Hypotheses: Illustrations

Formulate Objectives and Hypotheses: Illustrations

Formulate Objectives and Hypotheses: Illustrations

Formulate Objectives and Hypotheses: Illustrations

Formulate Objectives and Hypotheses: Illustrations

Formulate Objectives and Hypotheses: Illustrations

Develop the Research Plan

Collect and Analyze Data

Prepare the Report

Small-group discussions Review of advertising

Large-scale sample survey Secure independent

Data Mining – Big Data

• Critical distinctions in marketing research

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