Market Research MBA 53-113-01 Course 1 Market research What the pupose Major applications Major...
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Market ResearchMBA 53-113-01Course 1
Market research What the pupose Major applications Major forms How is it managed
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1- What is the purpose of market research
It helps in reducing commercial risks Delays a decision Protect managers Comfort managers in their own decisions
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2- Major usages
Measures the size of a market Identifies the structure of a market Benchmarking (on going and ad hoc)
Market size SWOT analysis Product positioning
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2- Major usages (cont.) Positioning on each of the four P
Attitudes Perceptions Preferences Intentions
Examples: advertising pre-test, satisfaction,, price sensitivity
Market tests and experimentation
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An example: Webperform
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3- The major forms
Exploratory Secondary data Qualitative research
Descriptive Surveys Electronic data
Causal Experimentation
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The type of data
Primary data refers to information that is developed or gathered by the
researcher specifically for the research project at hand.
Secondary data has previously been gathered by someone other than the
Researcher and/or for some other purpose than the research project at hand.
Internal data refers to data that has been collected within the firm.
External data is obtained from outside the firm.
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The sources we have
PRIMARY SECONDARY
INTERNAL
Employees. internal database different types of documents and reports.
EXTERNAL
Market; External public categories; Competitors.
Published materials; Syndicated materials; External database
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The most delicate phase: Problem definition
Problem Definition Stating the objectives Decision Rules (Statistical and
managerial) Methodologies Diffusing the process and the results
© Jacques Nantel et HEC Montréal Hiver 2005
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Milestones in defining the problem
Asses the background of the company, product,
market
Understand the decision maker’s circumstances,
objectives, and resources
Clarify the symptoms of the problem
Pinpoint suspected causes of the problem
Specify actions that may alleviate the problem
Speculate on anticipated consequences of these
actions
Identify the manager’s assumptions about the
consequences
Assess the adequacy of information on hand
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4- Managing the research process
Internal vs. external Ad Hoc or on going Who is in command? What does it cost?
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Inside the Marketing Information System
Marketing Mangement
Process
Analysis
Planning
Implementing
Control
Need for information evaluation
Marketing Research
Marketing Decision
Support System
Internal Report System
Marketing Intelligence
Information dissemination
ENVIRONMENT
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Where does it fits
Vice-présidence ventes et marketing
Direction ventesDirection gestion
de produitsDirectionpublicité
DirectionRecherche
Région (produit)1
Région (produit)2
Région (produit)3
Produit(s) X
Produit(s) Y
Produit(s) Z
Publicité
Promotion
Marketing direct
SIM
Chef de projets
Chef de projets
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An idea of the industry
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The growth
21.5
18.9
6.37.0
8.710.2
11.9
15.3 15.9 16.6
0.0
5.0
10.0
15.0
20.0
25.0
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
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Major players worldwideRank Companies Ownership Revenue
(Million US$)
2004
1 VNU N.V. / AC Nielsen Holland 4,702
2 Taylor Nelson Sofres England 1,733
3 IMS Health Inc. United States 1,569
4 Kantar Group England 1,365
5 GfK AG Germany 835
6 Ipsos Group S.A. France 753
7 Information Resources Inc. United States 573
8 Synovate England 499
9 NOP World England 409
10 Arbitron Inc. United States 297
11 INTAGE Japan 206
12 Opinion Research Corp. United States 196
13 Harris Interactive Inc. United States 172
14 NetRatings Inc. - 59
15 Greenfield Online Inc. - 44
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US Players
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Research versus advertising