Antonio Banos M.Ed. Bell Ringer: ….

Antonio Banos M.Ed. Research

Antonio Banos M.Ed. Primary Research vs. Secondary Research

Antonio Banos M.Ed. Primary Research - It is tailored to a company’s particular needs and is conducted either by you or by a company that you pay to conduct the research for you. Focus groups Surveys Questionnaires Field tests Interviews Observation Pros – customized to specific needs Cons – expensive and time consuming

Antonio Banos M.Ed. Secondary Research - Secondary research is based on information from studies previously performed by government agencies, chambers of commerce, trade associations, and other organizations. For example, U.S. Census Bureau information and Nielsen ratings are secondary market research. Pros – easy and inexpensive Cons – not always reliable and not customizable

Antonio Banos M.Ed. Methods of Research? Qualitative Research –is designed to reveal a target audience’s range of behavior and the perceptions that drive it with reference to specific topics or issues. The dynamic nature of the interview or group discussion process, which engages respondents more actively than is possible in more structured survey. The opportunity to probe ("Help me understand why you feel that way") The opportunity to observe, record and interpret non-verbal communication The opportunity to engage respondents in "play" such as projective techniques and exercises, overcoming the self-consciousness that can inhibit spontaneous reactions and comments.

Antonio Banos M.Ed. Methods of Research? Quantitative Research – is the systematic empirical investigation of observable phenomena via statistical, mathematical or computational techniques. Objectivity: This type of research is numerical. Therefore, they can’t be easily misinterpreted. You can also compare its results. Statistical Method: you are giving a chance to use statistics. The forms of statistical data analysis permit you to understand a huge amount of essential characteristics of the data. Fast Data Collection: The data in quantitative research can be analyzed in a fast and easy way. ** It does require a huge sampling population for credibly and accuracy**

Antonio Banos M.Ed.

Sampling Methods? Random Sampling ( population in which each member of the subset has an equal probability of being chosen ) Cluster Sampling ( used when "natural" but relatively heterogeneous groupings are evident in a statistical population ) Systematic Sampling Quota Sampling Accidental Sampling Panel Sampling Stratified Sampling

Antonio Banos M.Ed. What is the best way to show your research? Charts Graphs Inphographics * make sure to supply a legend

Antonio Banos M.Ed. Consumer/Customer Analysis

Antonio Banos M.Ed. Consumer/Customer Analysis MARKETING PLAN

Antonio Banos M.Ed. Key Terms to Know  Target Market: a particular group of consumers at which a product or service is aimed  Segmentation: strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.  Demographics: statistical data relating to the population and particular groups within it  Age, Race, Gender, Income, Location, and Educational Level  Psychographics: the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.

Antonio Banos M.Ed. Target Market- To whom are your marketing efforts going to be targeted toward? Who is going to be receiving the marketing communication message? Who is going to be the population who will be spending the money buy your product? Who is your target customer?

Antonio Banos M.Ed. Primary Target Market $$$$$$ Secondary Target Market $$$ Tertiary Target Market (rarely used) $

Antonio Banos M.Ed. Primary Target Market Demographics: Age: Race: Gender: Income: Location: Education Level:

Antonio Banos M.Ed. Primary Target Market Psychographics: What are the attitudes of your customers? What do they aspire? What goes inside their head? What are they looking for in life?

Antonio Banos M.Ed. Primary Target Market- Sample Client: Blender Bottle Bodybuilders/Crossfit/Workout Junkies Demographics Gender: Male and Female athletes Age: Education Level: High School + Income: 40,000 + Location: United States Psychographics “I live a very active and busy life style, everything I own needs to keep up with me” “I love to workout, push myself to the limit, but I sometimes struggle with recovery” “I’m on the go, but I like to make smart decisions when it comes to nutrition” “I hate feeling drained after a good workout because I don’t have time tom properly recover” “I’m a supplement junky, since I can’t always eat all nutrients from food; I get it from a supplement” “I’m an athlete, I’ve always been an athlete, and I will always be an athlete” I’m looking for a way to get my nutrients fast, and on the go” “The gym is my second home… sometimes my first home” “The gym is my temple”

Antonio Banos M.Ed. Secondary Target Market- Sample Client: Blender Bottle Active/Recreational/Weight Loss Enthusiasts Demographics Gender: Male and Female sports enthusiasts Age: Education Level: High School + Income: 40,000 + Location: United States Psychographics “I’m not a hardcore athlete, but I live an active lifestyle” “I like to be in the outdoors. I am active, but not a gym-meathead” “I live a healthy life style… when I can” “I need to get in even better shape… soon”

Antonio Banos M.Ed. Consumer/Customer Analysis Step 1: Identify the “wishful” target market you wish to go for and/or the target market your client has set for you to target. Step 2: Conduct primary and secondary research to uncover key insights about your target market. In this step you may realize that there may be some adjustments to your target market. You may choose a combination of primary and secondary research. However, primary research is going to be imperative. You can do this via surveys, questionnaires and focus groups using a qualitative method. Step 3: Analyze the data collected, break it down into a digestible format that is easy to read and that it flows. It is highly recommended to create a customer profile with a picture and a name. Step 4: Make sure you site all of your sources of research, keep all primary research at hand, and include any extra relevant research for the appendix. Steps