The Market Research Industry September 21, 2009 Steve Koch University of Houston

Mattel Toys

2 Departments  Sales Research  Consumer Research Consumer Research: A, A&U (Category Studies), A&A Tracking Studies, Focus Groups, STM’s, Copy Testing.

Coca-Cola Foods Mattel Toys

Coca-Cola Foods Marketing Research & Sales Analysis Departments. STM’s, Product Optimization (RSM, etc.), Copy Testing, Taste Tests (point-in-time and tracking), Focus Groups, CST’s (Pricing, Display/Promotion)

Sega Video Games

Pennzoil-Quaker State

Marketing Research Industry Structure 2 Buckets  Client and Supplier

Marketing Research Profession Client SideSupplier Side CustomSyndicated Custom Traditional Custom Specialized Custom Copy Testing STM’s Packaging B2B/B2C Optimization Omnibus IRI Nielsen NPD MRI

Managing a Marketing Research Career

When you unexpectedly walk into a management meeting where business decisions are being made and sit down at the table, what has changed in the room? Ask yourself “How do the leaders in the room feel now?” Lower blood pressure? Lower heart rate? Safer? Relief? Are you accretive, dilutive, or insignificant? What is your $Worth$?

Managing a Marketing Research Career Adopt (or refine) professional core values.

Key Professional Core Values Execute “Con Pasión.” Integrity Flexibility and versatility Always listening, reading, and learning. Be Accretive

Managing a Marketing Research Career Passion: After the cover charge, I’ll hire passion. Sincerity and commitment to your profession and what you do every day. If it’s worth doing, it’s worth doing right.

Managing a Marketing Research Career Integrity: Fundamental for a marketing researcher. If you never say “I don’t know,” then I say “I can’t trust you.” Resist influence. Do what you say you’ll do!

Managing a Marketing Research Career Flexibility and Versatility:

Managing a Marketing Research Career Always Listening, Reading, and Learning:

Managing a Marketing Research Career Be Accretive:

So What’s the Point? In the end, of course, what's most important about choosing your next leadership role is that it enables you to be passionate about connecting what you do and how it drives the business. So choose wisely. Jerry Noonan, Spencer Stuart, ex-CMO, 1800Flowers.com

What’s Hot Today in Marketing Research

5 Things: Ethnography Web Analytics Online Surveys Online Groups ROI

What’s Hot Today in Marketing Research Ethnography AMA Definition: A detailed, descriptive study of a group and its behavior, characteristics, culture, etc. Bedroom research Driveway research Kitchen research Living Room research

What’s Hot Today in Marketing Research Ethnography is the study of culture. Not individuals (psychology) or populations (demography) or nations (politics/history) or trends (cool- hunting). Alison Demos, Ogilvy & Mather, NY

What’s Hot Today in Marketing Research Ethnography: It’s accessible. It’s very descriptive. It’s very rich and colorful. It takes the abstraction out of findings.

US online advertising spending, in billions of dollars Source: eMarketer, Sept, 2009

US paid search advertising spending, 2004 – 2011 (in billions) Source: eMarketer, 2008, with IAB/PwC as baselines for 2001 – 2007

What’s Hot Today in Marketing Research Web Analytics: Immediate Accessible ROI enable – drives business performance. Addresses growth industry.

ROI Chief marketing officers have a shorter average tenure than NFL coaches. In fact, they barely get beyond two years before they are gone. Jack Trout, Trout and Partners There goes another CMO. I still have time.

ROI Source: Anderson Analytics Next!

ROI #1 challenge facing marketing chiefs is “Quantifying & measuring the value of marketing programs.” CMO Council

ROI If you’re a balanced scorecard company, or if your client is, find ways to help monitor and improve those metrics. Track Experiment Pricing Mix Modeling

Sources