© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. © 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1

Marketing Research Tools © 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Marketing Framework 3

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Marketing Research Marketing decisions should be fact-based Marketing research is the process used to gather the facts needed to make marketing decisions Smart marketers are continually gathering market information; they also conduct specific research projects 4

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Marketing Research Techniques 5

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Marketing Research Process 6

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Types of Data; Types of Research 7

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Cluster Analysis Clustering Often used for segmentation 8

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Perceptual Mapping Positioning studies are used to understand customer perceptions of brands in the marketplace Two approaches Attribute-based approach Multidimensional scaling (MDS) 9

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Perceptual Mapping: Attribute-Based In attribute-based perceptual mapping, Customers complete survey; Responses are averaged; Result is a pair of means for each attribute 10

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Perceptual Mapping: MDS Multidimensional scaling starts by asking, “How similar are these 2 brands?” Each brand is rated on attributes Results are then plotted and overlayed with attribute ratings 11

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Focus Groups Used for concept testing & ad development Focus group moderator 12

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Scanner Data Companies use scanners to track purchase information and store it in a database Loyalty cards then link this information to each customer Store & area auditors integrate additional information into database 13

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Scanner Data Experiments with scanner data Naturalistic observation with scanner data 14

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Surveys Often used to measure customer satisfaction, repurchase intentions, etc. To administer 1. Write survey questions 2. Pre-test them 3. Administer to a sample of customers 4. Analyze results 15

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Surveys-Factor Analysis Factor analysis examines strong and weak correlations to identify underlying factors common to the responses 17

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Managerial Recap Cluster analysis identifies similar customer groups - ideal for segmentation Surveys and MDS are used to create perceptual maps – ideal for positioning Focus groups are exploratory – ideal for product concept and ad testing 18

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Managerial Recap Conjoint methods indicate trade-offs – ideal for product design Scanner data – ideal for investigating brand switching, loyalty, price sensitivity and marketing experiments Surveys – ideal for satisfaction Can be simplified through factor analysis 19

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 15. Conjoint Analysis Conjoint studies Used to understand how consumers make trade-offs; helps uncover customers’ most important product attributes Participants rate each option from least to most preferred Regression is run on data with flier ratings as the dependent variable 20