2. BA (Hons) Business, Management & Communications Managing Marketing Activities Week 6

3. What did we do last week? What does STP stand for? Why do we segment targets? What position does bus travel have in the consumers mind? By segmenting our markets - whether B2C or B2B – we make sure the correct messages are sent to the right people

4. Objectives for today By the end of this session we will have … Discussed the reasons why organisations engage in marketing research Reminded ourselves of the different elements involved in market research

5. Research for bus travel Based on what we have discovered so far about bus travel in Oxfordshire, what marketing research would you suggest should be commissioned? What would you like to discover – and why? How would you make use of the findings? Is this something you might like to recommend in your report for Assignment 1

6. Market Research Strategies What can effective market research achieve? https://www.youtube.com/watch?v=2X8Bd3- G6IUhttps://www.youtube.com/watch?v=2X8Bd3- G6IU What can poor market research achieve? https://www.youtube.com/watch?v=B831yEVFcf 4https://www.youtube.com/watch?v=B831yEVFcf 4 What if our research told us to tell the truth in adverts? http://youtu.be/fvqGb2QDfX0

7. Market Research and Marketing Research “Market research is the process of collecting, analysing and presenting useful information about consumers” [Blythe (2012), p98] “Marketing research links the organisation with the environment in which it operate and involves specifying the problem, gathering data, then analysing and interpreting those data to facilitate the decision-making process” [B&P (2006), p230]

8. Definition Market Research gathers information about a markets size and trends Marketing research is the function that links the consumer, customer, and public to the marketer through information. https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx

9. Market vs Marketing Research processes The process is the same (except for one element) : –Research Brief –Define the issue –Set objectives –Write research proposal –Collection of data –Analysis and evaluation –Decide most effective marketing strategy

10. Market vs Marketing Research processes The tools are the same : –Primary Research –Secondary Research –Qualitative –Quantitative

11. Definition in Context Market research has identified a sizeable market and an increasing trend for the need for a new product –A new flavour of ice-cream What research might the organisation have conducted to identify the need for this new product? Your job as a marketer is to market this new product What research might you need to do in order to decide what marketing strategies are needed to effectively promote this new product?

12. What would you want to know? Do consumers like the idea of a new flavour? How much might they be willing to pay for it? If they can taste the product – do they like it? What words would they use to describe it? Can you use those words in a marketing campaign? What should the product be called? Is the brand already recognised? Are other companies releasing new ice-cream flavours? What differentiates our new ice-cream?

13. Primary data Observing Questions Personal Mechanical Personal Telephone Post Internet Primary Data

14. Secondary Data Secondary data Internal sources External sources Accounting records Marketing databank Periodicals Census reports Government publications Internet

15. Is this all familiar?

16. A Market Research Quiz A bit like jeopardy but in reverse!

17. Primary Research Secondary Research Marketing General Sampling Methods Research In General 1 Research In General 2 100 200 300 400 500 ► ► ► F i n a l J e o p a r d y ◄ ◄ ◄ 200 300

18. £100 Primary Research What is Primary Research? Information collected from your own research methods. Involves the collection of new information

19. £200 Primary Research Name five methods of primary research Observations, Experiments, Surveys, Focus Groups, Panels

20. £300 Primary Research Name 3 elements you would take into account when deciding which primary research method to use Fitness for purpose, cost, accuracy, time, validity, response rate

21. £400 Primary Research What method of primary research is an excellent way of finding out how consumers behave in a setting that closely represents the real world? Field trial or Observation

22. £500 Primary Research What is the opposite of competitive intelligence? Industrial espionage

23. £100 Secondary Research What is secondary research? Using existing information rather than finding out new information

24. £200 Secondary Research Describe the difference between internal and external secondary research Internal is internal to the organisation, external is external to the organisation

25. £300 Secondary Research Name 5 methods of secondary research Databases, Internet, EPOS, Website monitoring, Trade Journals, Accounting records, Government statistics, Company reports, Market research reports, Libraries

26. £400 Secondary Research What alternative name is given to secondary research? Desk research

27. £500 Secondary Research What are econometrics? Economic statistics

28. £100 Marketing What are the four elements of the marketing mix? Product, Price, Place, Promotion

29. £200 Marketing What is the term for clustering services, brands, markets and products by geographic, demographic, psychographic and buyer behaviour attributes? Market Segmentation

30. £300 Marketing What are the four phases of the product lifecycle according to Blythe? Introduction, growth, maturity, decline

31. £400 Marketing What is this paragraph describing: Demand for a product will rise if price is reduced or if the price goes up then the demand will fall = change in quantity demanded/%change in price Elasticity of demand

32. £500 Marketing What are the 5 main promotional tools to communicate the offer to customers? Advertising, public relations, personal selling, sales promotion and direct marketing

33. £100 Sampling Methods What are the two main types of sampling methods? Probability and non-probability

34. £200 Sampling Methods Random is a type of probability sampling but what does it mean? The sample of the population that you selection to research is picked at random

35. £300 Sampling Methods What is cluster sampling? The selection of samples from relatively “natural” clusters of society. This is a probability sampling method.

36. £400 Sampling Methods What is judgement sampling? The sample chosen is based on the researchers own judgement.

37. £500 Sampling Methods Describe probability and non-probability sampling Probability: selects members of the sample based on a mathematical equation. A systematic approach. Non-probability: Sample selected and not related to a mathematical equation

38. £100 Research in General 1 Define qualitative and quantitative research Qualitative: quality, takes longer, interviews, focus groups Quantitative: quantity, amount, produces numbers

39. £200 Research in General 1 What does strategic market research aim to achieve? It aims to inform decisions within an organisation.

40. £300 Research in General 1 Describe 4 limitations of data Limited time, Limited sample, Too many results, Bias, Reliability of the sample

41. £400 Research in General 1 What does “ad hoc” research mean? Commissions or one off research types

42. £500 Research in General 1 Describe 5 of the 8 stages of market research Research Brief, Define the issue, Set objectives, Write research proposal, Collection of data, Analysis and evaluation, Presentation of findings, Re-evaluate the market

43. £100 Research in General 2 What is the biggest market research organisation that has an office in Oxford? Nielsen

44. £200 Research in General 2 What is a databank? A supply of data.

45. £300 Research in General 2 Why do companies invest in market research programmes? To help identify and solve business issues and plan how to meet current and future customer needs

46. £400 Research in General 2 What is the Delphi Method? Pools expert opinion. Used for long range forecasting and technological forecasting. Experts are not brought together and they do not know who else is involved. Each one question, results pooled, a further questionnaire issued and then repeated until a profile is obtained.

47. £500 Research in General 2 Can you name the 4 P’s of the marketing research mix? purpose, population, procedure, publication [Bradley, N (2013) Marketing Research - Tools and Techniques, 3rd Ed. OUP, Oxford]

48. Final Jeopardy Coulrophobia What is the fear of clowns known as?

49. Example Exam Question Research for marketers is a critical component needed to make sound business decisions. Marketing research may offer many options for organisations to consider and it is often said marketing decisions are less risky if there is more than one option on offer. Discuss and critically evaluate the differing methods of Marketing Research that businesses can carry out. You should also consider the reliability of sources. Create a mind map with the key points you would mention in your answer. 10 Minutes End