[Assignment 7.1] Market reshearch - Audit vs panel
Transcript of [Assignment 7.1] Market reshearch - Audit vs panel
RETAIL AUDIT
CONSUMER PANEL
RESEARCH PURPOSE
REPORT CONTENTS
MARKET RESEARCH–THE BACKBONE FACTS
RETAIL AUDIT & CONSUMER PANEL
VĂN THIÊN QUỐC HÙNG
Method of measuring the volume of
business transacted through all outlets,
by counting physical units in stores and
combining that with a knowledge of the
number ordered and stock levels
RETAIL AUDIT Definition
The most decent agency: Nielsen
(FMCG), GFK (Hi-tech industry)…
RETAIL AUDIT Pros vs Cons
• Highly precision• Timeliness
• Reduced bias (measure product/brand movement atPOS)
• Sale/competitive activities are also reported
• Data is timely and readily available
• Informative• Product/brand sales in relation to competition
• Effectiveness of shelf space and POP displays
• Sales at various price points and levels
• Effectiveness of in-store promotion and POS coupons
• Direct sales by store type/production location/territoryand region
• Information collected fromthe past
• Data sources as secondaryresearch
• Helpless for marketers tounderstand the causes andsupport decisions/solutions
Advantages Disadvantages
Method of determining
what consumers buy
through specific group of
representative households,
who have agreed to
provide pre-designated
information at regular
specified intervals over an
extended period of time.
CONSUMER PANEL Definition
The most decent agency:
Kantar WorldPanel, TNS
WorldPanel, Epinion
(Online)
Capacity to reflect the trueextent of change over time• Can gather a large amount
of information
• Information is normally moreaccurate
• Costs are relatively lowcompared with survey andcan be spread over…
Lack of representativeness, due to:
• Unrepresentative sampling• Having the same panel members for a long time
• Members may want to maximize reward
• Certain less methodic individual may not be included inthe panel
• The sample may not truly reflect the sample population
• Mortality (20% a year)
• Response bias (tendency to misreport data)• New member inclusion (over-report consumption) –
should be controlled on a trial period
• Some panel members may see themselves as “right”
• Boredom/fatigue/incomplete entries…
CONSUMER PANEL Pros vs Cons
Advantages Disadvantages
• Mostly tracking volume, value ofmarket share, purchasing powers,brand performances…
• Market (category and brand)understanding
• Mostly tracking purchasingbehaviors, consumption habits,media performances, life-styleactivities…
• Consumer understanding
RESEARCH PURPOSE
Retail audit Consumer panel
It depends on research objective to choose either audit or panel, yet
both are used for monitoring brand shares
RESEARCH PURPOSE
(Population covered)
Household/ Individual
within studied
universe
(Population NOT
covered)
Hospital, military,
catering, tourists…
(Channel covered)
Hyper, Super, CVS,
Pharmacy, Trad. Store,
P/C Store
Both coveredONLY covered by
Retail Audit
(Channel NOT
covered)
PX, Dept. Store, Wet
Market, Direct Sale,
TV & Internet
Shopping
ONLY covered by
Consumer PanelX
Retail
audit
Consumer
panel
Reference
REPORT CONTENTS
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2
3
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5
Back ground & objective
Research design & method
Key findings
Conclusions & recommendation
Appendix
TH
AN
K Y
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!