Marketing research is "a process or series of processes connecting manufacturers, customers, and end users to marketers through information used to identify and determine marketing opportunities and problems; generate, filter and evaluate marketing actions to monitor marketing performance , and increase marketing understanding as a process. Marketing research determines the information needed to address this problem, designs methods for gathering information, managing and implementing the process of collecting data, analyzing results, and communicating findings and implications.
It is the systematic collection, recording, and analysis of qualitative and quantitative data on issues relating to marketing products and services. The purpose of marketing research is to identify and assess how changes in the marketing mix element impact on customer behavior. This term is usually exchanged with market research; however, the expert practitioner may want to make a difference, in that market research is specifically related to the market, while the marketing examines specifically about the marketing process.
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Marketing research is often partitioned into two pairs of categorical pairs, either by the target market:
- Consumer marketing research, and
- Business-to-business marketing research (B2B).
Alternatively, with a methodological approach:
- Qualitative marketing research, and
- Quantitative marketing research.
Consumer marketing research is a form of applied sociology that concentrates on understanding consumer preferences, attitudes and behavior in a market-based economy, and aims to understand the effects and success of comparative marketing campaigns. The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the establishment of ACNielsen Company in 1923.
Thus, marketing research can also be described as systematic, objective identification, collection, analysis and dissemination of information for the purpose of assisting management in decision-making related to the identification and solution of problems and opportunities in marketing.
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Roles
The purpose of marketing research (MR) is to provide management with market information that is relevant, accurate, reliable, valid, and up to date. The competitive marketing environment and the ever-increasing costs associated with poor decision making require marketing research to provide good information. The right decision is not based on hunches, intuitions, or even pure judgments.
Managers make many strategic and tactical decisions in the process of identifying and meeting customer needs. They make decisions about potential opportunities, target market selection, market segmentation, planning and execution of marketing programs, marketing performance, and control. This decision is complicated by the interaction between marketing variables that can be controlled from the product, price, promotion, and distribution. Further complications are added by uncontrolled environmental factors such as general economic conditions, technology, policy and public law, the political environment, competition, and social and cultural change. Another factor in this mix is ​​consumer complexity. Marketing research helps marketing managers connect marketing variables to the environment and consumers. This helps eliminate some of the uncertainties by providing relevant information about marketing, environment, and consumer variables. In the absence of relevant information, consumer responses to marketing programs can not be predicted reliably or accurately. Ongoing marketing research programs provide information on uncontrollable and uncontrollable factors and consumers; this information increases the effectiveness of decisions made by marketing managers.
Traditionally, marketing researchers are responsible for providing relevant information and marketing decisions made by managers. However, roles change and marketing researchers become more involved in decision making, while marketing managers become more involved with research. The role of marketing research in managerial decision making is further explained using the DECIDE model framework.
History
Marketing research has evolved in the decades since Arthur Nielsen established it as a viable industry, which will grow together with the B2B and B2C economies. The market naturally evolves, and since the birth of ACNielsen, when research was primarily conducted by direct focus groups and pen and paper surveys, the rise of the Internet and the proliferation of corporate websites has changed the way research is conducted.
Web analytics are born of the need to track the behavior of site visitors and, as the popularity of e-commerce and web advertising increases, businesses demand details on information created by new practices in web data collection, such as clickthrough rates and outgoing rates. As the internet grew, the websites became larger and more complex and the possibility of two-way communication between business and their customers became a reality. Equipped with the capacity to interact with customers online, Researchers were able to gather large amounts of data that were not previously available, further encouraging the marketing research industry.
In the new millennium, as the Internet continues to grow and websites become more interactive, data collection and analysis becomes more common for marketing research firms whose clients have web presence. With the explosive growth of the online market appears a new competition for the company; business is no longer just competing with stores on the road - competition is now represented by global forces. Retail outlets appear online and the previous requirement for brick and mortar stores is reduced at a greater pace than online competition. With so many online channels for consumers to make purchases, companies need newer and more exciting methods, in combination with a more effective resonant message, to capture the attention of the average consumer.
Having access to web data does not automatically provide companies with the reasoning behind the behavior of users who visit their site, which provokes the marketing research industry to develop new and better ways of tracking, collecting, and interpreting information. This leads to the development of various tools such as online focus groups and pop-up surveys or interception surveys. This type of service allows companies to dig deeper into consumer motivation, add to their insights and utilize this data to drive market share.
As information around the world becomes more accessible, increased competition causes companies to demand more market researchers. It is no longer sufficient to follow trends in web behavior or track sales data; companies now need access to consumer behavior during the entire buying process. This means the Marketing Research Industry, once again, is needed to adapt to the rapidly changing market needs, and the demands of companies seeking competitive advantage.
Today, marketing research has adapted to innovations in technology and the ease with which information is available. B2B and B2C companies are working hard to stay competitive and they are now demanding quantitative ("What") and qualitative ("Why?") Marketing research to better understand the target audience and the motivation behind customer behavior.
This demand encourages marketing researchers to develop new platforms for interactive two-way communication between companies and their customers. Mobile devices like Smart Phones are the best examples of emerging platforms that allow businesses to connect with their customers throughout the buying process. Innovative research companies, such as OnResearch with their OnMobile app, now provide businesses with the means to reach consumers from the initial investigation point to the decision and, ultimately, the purchase.
When personal mobile devices become more capable and widespread, the marketing research industry will be looking to better capitalize on these trends. Mobile devices present the perfect channel for research companies to take live impressions from buyers and to give their clients a holistic view of consumers in their target market, and so on. Now, more than ever, innovation is the key to success for Marketing Researchers. Clients of Marketing Research began to demand highly personalized and focused products from marketing research companies; big data is great for identifying common market segments, but is less able to identify key factors of niche markets, which now define the competitive companies sought in this mobile-digital era.
Characteristics
First, systematic marketing research . Thus systematic planning is required at all stages of the marketing research process. The procedures followed at each stage are methodologically sound, well documented, and, as far as possible, planned beforehand. Marketing research uses the scientific method in which data are collected and analyzed to test previous ideas or hypotheses. Experts in marketing research have shown that studies that show some hypotheses and often compete produce more meaningful results than those that only show one dominant hypothesis.
Marketing research is objective . It tries to provide accurate information that reflects the true state of affairs. It must be done impartially. While research has always been influenced by research philosophy researchers, it must be free of personal or political bias from researchers or management. Research that is motivated by personal or political gain involves violation of professional standards. Such research is deliberately biased so as to produce predefined findings. The objective nature of marketing research underscores the importance of ethical considerations. In addition, the researcher should always be objective about the selection of information to be displayed in the reference text because the literature should offer a comprehensive view of marketing. Research has shown, however, that many marketing textbooks do not feature important principles in marketing research.
Related business research
Other forms of business research include:
- Market research is broader in scope and examines all aspects of the business environment. It asks questions about competitors, market structure, government regulations, economic trends, technological advances, and many other factors that shape the business environment (see environmental scanning). Sometimes this term refers more to a company's financial analysis, industry, or sector. In this case, financial analysts usually do research and give the results to investment advisors and potential investors.
- Product research - It looks at what products can be produced with the technology available, and what new product innovations can be developed by future technology (see new product development).
- Advertising research - is a special form of marketing research done to improve the effectiveness of advertising. Copy testing, also known as "pre-testing", is a customized form of research that predicts performance in the ad market before it goes live, by analyzing audience attention, brand relevance, motivation, entertainment, and communication, as well as breaking the flow of attention and emotional flow advertisement. Pre-testing is also used in ads that are still in rough form (ripomatic or animatic). (Young, p.Ã, 213)
Classification
Organizations engaged in marketing research for two reasons: first, to identify and, secondly, to solve marketing problems. This distinction serves as a basis for classifying marketing research into problem identification and problem-solving research.
Identification of research problems is done to help identify issues that are, perhaps, unclear on the surface and do not yet exist or may appear in the future such as corporate image, market characteristics, sales analysis, short-term estimates, remote estimates, and business trends research. This type of research provides information about the marketing environment and helps diagnose the problem. For example, problem solving research findings are used in making decisions that will solve specific marketing problems.
The Stanford Research Institute, on the other hand, conducts an annual consumer survey that is used to classify people into homogeneous groups for the purpose of segmentation. The National Daily Purchasing Panel (NPD) maintains the largest diary panel in the United States.
Standard service is a research study conducted for different client companies but in a standard way. For example, procedures for measuring the effectiveness of advertising have been standardized so that results can be compared across studies and evaluative norms can be established. Pati Reader Survey is the most widely used service for evaluating print ads; Another notable service is the Gallup and Robinson Magazine Impact Study. The service is also sold on a syndicated basis.
- Customized services offer a wide range of customized marketing research services to meet clients' specific needs. Every marketing research project is treated uniquely.
- The limited service provider specializes in one or more phases of a marketing research project. The services offered by these suppliers are classified as field services, encoding and data entry, data analysis, analytical services, and branded products. Field services collect data over the internet, traditional letters, direct interviews, or telephones, and companies specializing in interviews are called field service organizations. These organizations may range from small ownership organizations operating locally to large multinational organizations with WATS line interview facilities. Some organizations have extensive interview facilities across the country to interview buyers in malls.
- The encoding and data entry services include editing completed questionnaires, developing coding schemes, and transcribing data to diskettes or magnetic tape to be put into the computer. The NRC Data System provides such services.
- The analytics service includes pretesting design and questionnaires, determining the best way to collect data, design sampling plans, and other aspects of the research design. Some complex marketing research projects require knowledge of advanced procedures, including special experimental designs, and analytical techniques such as conjoint analysis and multidimensional scaling. Such expertise can be obtained from companies and consultants specializing in analytical services.
- The data analysis services offered by the company, also known as tabbeds, specialize in computer analysis of quantitative data as obtained in large surveys. Initially most data analysis firms only provide tabulation (number of frequencies) and cross tabulation (number of frequencies depicting two or more variables simultaneously). With the proliferation of software, many companies now have the ability to analyze their own data, but, data analysis companies are still in demand.
- Branded marketing research products and services are a specialized data collection and analysis procedure developed to address the specific types of marketing research issues. This procedure is patented, branded, and marketed like other branded products.
Type
Marketing research techniques come in a variety of forms, including:
- Ad Tracking - research in a periodic or ongoing market to monitor brand performance using measures such as brand awareness, brand preference, and product usage. (Young, 2005)
- Advertising Research - used to predict copy testing or track the efficacy of advertising for each medium, as measured by the ability to get attention (measured by AttentionTracking), communicate messages, build brand image, and motivate consumers to buy products or services. (Young, 2005)
- Brand awareness research - the extent to which consumers can remember or recognize the brand name or product name
- Brand association research - what do consumers associate with brands?
- Brand attribute research - what are the key features that describe the brand's promise?
- Brand name testing - what do consumers feel about product names?
- Buyer's decision-making process - to determine what motivates people to buy and what decision-making process they use; Over the last decade, Neuromarketing emerged from the convergence of neuroscience and marketing, aimed at understanding consumer decision-making processes
- Commercial eye-tracking research - checking ads, packaging designs, websites, etc. by analyzing the consumer's visual behavior
- Testing concepts - to test concept acceptance by target consumers
- Coolhunting (also known as trendspotting) - to make observations and predictions in changing new or existing cultural trends in areas such as fashion, music, movies, television, culture and youth lifestyle
- Copy testing - predicting the performance in an ad market before it goes live by analyzing the audience's level of attention, brand relevance, motivation, entertainment, and communication, and breaking the flow of attention and the flow of emotional advertising. (Young, p 213)
- Customer satisfaction research - quantitative or qualitative research that results in an understanding of customer satisfaction with transactions
- Estimated request - to determine the approximate level of demand for the product
- Distribution channel audit - to assess the attitudes of distributors and retailers against products, brands, or companies
- Internet strategic intelligence - searching for customers' opinions on the Internet: chats, forums, webpages, blogs... where people freely express their experiences with products, become strong opinion shapers.
- Marketing effectiveness and analytics - Model and measure results to determine the effectiveness of individual marketing activities.
- Consumer mystery or mystery shopping - An employee or representative of a market research firm anonymously contacts the seller and shows him shopping for a product. The buyer then records the entire experience. This method is often used for quality control or to research competitors' products.
- Determination of research positions - how does the target market see brands relative to competitors? - what is the brand for?
- Price elasticity testing - to determine how sensitive customers are to price changes
- Sales forecasting - to determine the expected sales level based on the level of demand. In relation to other factors such as Advertising spending, sales promotions etc.
- Segmentation Research - to determine the demographic, psychographic, cultural, and behavior characteristics of potential buyers
- An online panel - a group of individuals who accept to respond to online marketing research
- Store audits - to measure product sales or product lines in statically selected store samples to determine market share, or to determine if a retail store provides adequate services
- Marketing test - the launch of small-scale products used to determine the likelihood of receiving a product when it is introduced to a wider market
- Viral Marketing Research - refers to marketing research designed to estimate the possibility that specific communications will be transmitted to the entire Individual Social Network. Social Networking Potential Estimates (SNPs) are combined with estimates of sales effectiveness to estimate ROI on certain message and media combinations.
All forms of marketing research can be classified as problem identification research or as problem-solving research.
There are two primary data sources - primary and secondary. The main research is done from the beginning. It's original and collected to solve the problem at hand. Secondary research already exists because it has been collected for other purposes. This is done on previously published data and usually by others. The cost of secondary research is much less than the main research, but rarely comes in the form that really meets the needs of the researcher.
A similar difference exists between exploratory research and conclusive research. Exploratory research provides insight and understanding of the problem or situation. This should draw a definite conclusion only with extreme caution. Conclusive research draws conclusions: research results can be generalized across populations.
Exploratory research was undertaken to explore the problem of obtaining some basic ideas about solutions at an early stage of the study. This can serve as input for conclusive research. Exploratory research information is collected by focus group interviews, reviewing literature or books, discussing with experts, etc. It's unstructured and qualitative. If a secondary data source can not serve a purpose, an easy sample of small size can be collected. Conclusive research is conducted to draw some conclusions about the problem. Basically, the research is structured and quantitative, and the output of this research is the input to the management information system (MIS).
Exploratory research is also undertaken to simplify the findings of conclusive or descriptive research, if findings are very difficult to interpret for marketing managers.
Method
Methodologically, marketing research uses the following types of research designs:
- By question
-
- Qualitative marketing research - commonly used for exploratory purposes - small numbers of respondents - can not be generalized across populations - statistical significance and beliefs not counted - examples include focus groups, in-depth interviews, and projective techniques
- Quantitative marketing research - commonly used to draw conclusions - test certain hypotheses - using random sampling techniques so as to deduce from sample to population - involves a large number of respondents - examples including surveys and questionnaires. Techniques include choice modeling, maximum difference difference scales, and covariance analysis.
- Based on observation
-
- Ethnographic studies - naturally qualitative, researchers observe social phenomena in their natural settings - observations may occur cross-sectional (observation done at one time) or longitudinally (observations occurring over a period of time) Ã, - eg including product usage analysis and computer cookie impressions. See also Ethnography and Observation techniques.
- Experimental techniques - naturally quantitative, researchers create artificial environments to try to control false factors, then manipulate at least one of the variables - examples include laboratory purchases and test markets.
Researchers often use more than one research design. They may start with secondary research to get background information, then do focus groups (qualitative research design) to explore the problem. Finally they may conduct a full national survey (quantitative research design) to develop specific recommendations for clients.
Business to business
Business to business (B2B) research is definitely more complicated than consumer research. Researchers need to know what kind of multi-faceted approach will answer the goal, since it is rarely possible to find an answer using only one method. Finding the right respondents is very important in B2B research because they are often busy, and may not want to participate. Encouraging them to "unlock" is another skill required by B2B researchers. Last but not least, most business research leads to strategic decisions and this means that business researchers must have expertise in developing strategies that are firmly rooted in research findings and acceptable to clients.
There are four key factors that make B2B market research special and different from the consumer market:
- The decision-making unit is much more complex in the B2B market than in the consumer market.
- B2B products and their applications are more complex than consumer products.
- B2B marketers handle a much smaller amount of far larger customers in their product consumption than it does in the consumer market.
- Personal relationships are very important in the B2B market.
Small and nonprofit businesses
Marketing research is not just happening in big companies with lots of employees and big budgets. Information marketing can be obtained by observing the environment of their location and the location of the competition. Small-scale surveys and focus groups are a low-cost way to gather information from potential and existing customers. Most secondary data (statistics, demographics, etc.) are publicly available in libraries or on the internet and easily accessible by small business owners.
Below are some of the steps that SMEs (Small Medium Enterprise) can take to analyze the market:
- Provide secondary and/or primary data (if necessary);
- Macro & amp; Microeconomic Data (eg Supply & Demand; GDP, Price Changes, Economic Growth, Sector/Industry Sales, Interest Rate, Investment/Divestment, I/O, CPI, Social Analysis, etc.);
- Implement the concept of marketing mix, which consists of: Place, Price, Product, Promotion, Person, Process, Physical Evidence and also Politics & amp; social situation to analyze global market situation);
- Analysis of market trends, growth, market size, market share, market competition (eg SWOT analysis, B/C analysis, main channel channel mapping identity, driver loyalty and customer satisfaction, brand perception, satisfaction level, current competitor-analysis channel relationships, etc.), etc.;
- Determine market segments, target markets, market forecasts and market position;
- Formulate market & amp; also investigate possible partnerships/collaborations (eg, profiling & amp; SWOT analysis from potential partners, evaluating business partnerships.)
- Combine the analysis with business plan/SME business model analysis (eg Business Description, Business Process, Business Strategy, Revenue Model, Business Expansion, Return of Investment, Financial Analysis (Company History, Financial Assumption, Cost/Benefit Analysis, Projection profit & loss, cash flow, balance sheet & business ratio, etc.).
- Important note: The overall analysis should be based on 6W 1H questions (What, When, Where, Who, Who, Why and How).
International plan
International Marketing Research follows the same path as domestic research, but there are some more issues that may arise. Customers in international markets may have very different habits, cultures, and expectations from the same company. In this case, Marketing Research relies more on primary data than on secondary information. Collecting primary data can be hindered by language, literacy, and access to technology. Culture intelligence information and basic Markets will be needed to maximize the effectiveness of the research. Some steps that will help overcome obstacles include:
- Gather secondary information about the country under study from a trusted international source, e.g. WHO and IMF
- Collect secondary information about the product/service under study from available sources
- Gather secondary information about the product manufacturer and service provider researched in the country in question
- Gather secondary information about the culture and general business practices
- Ask questions to gain a better understanding of the reasons behind recommendations for specific methodologies
General terms
Market research techniques are similar to those used in political polls and social science research. Meta-analysis (also called Schmidt-Hunter technique) refers to statistical methods combining data from various studies or from several types of studies. Conceptualization means the process of turning a vague mental picture into a definable concept. Operationalization is the process of turning concepts into specific observable behaviors that can be measured by a researcher. Precision refers to the accuracy of any given measure. Reliability refers to the possibility that the operational construction will produce the same result if it is measured again. Validity refers to the extent to which a measure provides data that captures the meaning of constructed constructs as defined in the study. It asks, "Do we measure what we want to measure?"
- Applied research establishes to prove a specific value hypothesis to clients who pay for research. For example, a tobacco company might commission research that tries to show that cigarettes are good for one's health. Many researchers have ethical doubts about conducting applied research.
- Sugging (from SUG, to "selling under the guise of" market research) forms a sales technique in which sales people pretend to do marketing research, but with the real intention of getting buyer motivation and buyer decision-making information to be used in sales calls next.
- Dismissal consists of asking for funding with a pretense as a research organization.
Careers
Some positions available in marketing research include marketing research vice president, research director, assistant director of research, project manager, fieldwork director, statistical/data processing specialist, senior analyst, analyst, junior analyst and operational supervisor.
The most common entry-level positions in marketing research for people with undergraduate degrees (eg, BBA) are as operational supervisors. These people are responsible for overseeing a well-defined set of operations, including fieldwork, data editing, and coding, and may be involved in data programming and analysis. Another entry-level position for BBAs is the project manager's assistant. An assistant project manager will learn and assist in the design of the questionnaire, review the field instruction, and monitor the time and cost of the study. In the marketing research industry, however, there is a growing preference for people with a master's degree. Those with an MBA or equivalent are likely to be hired as project managers.
A small number of business schools also offer a more specialized Master of Marketing Research (MMR) degree. MMR usually prepares students for a variety of research methodologies and focuses on learning both in the classroom and in the field.
A typical entry-level position in a business company will be a junior research analyst (for BBAs) or research analyst (for MBA or MMR). Junior analysts and research analysts learn about a particular industry and receive training from senior staff members, usually marketing research managers. The positions of junior analysts include training programs to prepare individuals for the responsibilities of research analysts, including coordinating with marketing departments and salespeople to develop goals for product exposure. Responsibilities of the research analyst include examining all data for accuracy, comparing and contrasting new research with established norms, and analyzing primary and secondary data for market forecasting purposes.
As this job title shows, people with diverse backgrounds and skills are needed in marketing research. Technical specialists such as statisticians obviously need a solid background in statistics and data analysis. Other positions, such as research directors, call for managing the work of others and require more general skills. To prepare for a career in marketing research, students typically:
- Take all marketing courses.
- Take courses in statistics and quantitative methods.
- Get computer skills.
- Take courses in consumer psychology and behavior.
- Obtain effective written and oral communication skills.
- Think creatively.
Hierarchy of companies
- Vice President of Marketing Research: This is a senior position in marketing research. The VP is responsible for all of the company's marketing research operations and serves on the top management team. Setting the goals and objectives of the marketing research department.
- Research Director: Also a senior position, the director has overall responsibility for the development and implementation of all marketing research projects.
- Assistant Director of Research: Serves as an administrative assistant to the director and oversees several other marketing research staff members.
- (Senior) Project Manager: Has overall responsibility for the design, implementation, and management of research projects.
- Statistics Specialist/Data Processing: Serves as an expert in the theory and application of statistical techniques. Responsibilities include experimental design, data processing, and analysis.
- Senior Analyst: Participate in project development and direct implementation of assigned project operations. Working closely with analysts, junior analysts, and other personnel in developing research design and data collection. Preparing the final report. The primary responsibility for meet time and cost constraints is with senior analysts.
- Analyst: Handles details involved in project execution. Design and pretest the questionnaire and perform the initial analysis of the data.
- Junior Analysts: Dealing with routine tasks such as secondary data analysis, editing and coding of questionnaires, and simple statistical analysis.
- Fieldwork Director: Responsible for selection, training, supervision and evaluation of interviewers and other field workers.
See also
Note
References
- Bradley, Nigel Marketing Research. Tools and Techniques. Oxford University Press, Oxford, 2007 ISBNÃ, 0-19-928196-3 ISBNÃ, 978-0-19-928196-1
- Marder, Eric The Laws of Choice - Predicting Customer Behavior (Free Press Division Simon & Schuster, 1997. ISBNÃ, 0-684-83545-2
- Young, Charles E, The Advertising Handbook , Ideas in Flight, Seattle, WA, April 2005. ISBNÃ, 0-9765574-0-1
- Kotler, Philip and Armstrong, Gary Pearson Marketing Principles, Prentice Hall, New Jersey, 2007 ISBN: 978-0-13-239002-6, ISBN: 0-13-239002-7
- Berghoff, Hartmut, Philip Scranton, and Uwe Spiekermann, eds., The Rise of Marketing and Market Research (ISBN 978-0-230-34106- 7
External links
- Media related to Marketing research on Wikimedia Commons
Source of the article : Wikipedia
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