1. 1 Market Research – Enhancing Your Information Portfolio David Carroll PRSA Seminar October 22, 2003

2. 2 Research Program Initiation Goals, Budgets, Suppliers

3. 3 Research Goals What are your … –Information assets? –Information gaps? –Information risks? –Information priorities? Prepare a one-page summary of your research goals

4. 4 Research Budgets Set a research budget that is equivalent to the value of the information. No research budget is too small to furnish valuable information. No research budget is large enough to fulfill all of your information needs. Start small and build on your success.

5. 5 Research Suppliers Use information from Account Executives. Develop Bidder’s List of qualified firms. Issue RFP with research goals and budget. Select the best proposal, not the best price.

6. 6 Focus Groups Fast, Inexpensive, Informative

7. 7 Best when … You know very little … or … you know the outcome, but want to understand it. You want to get reactions to something visual or tactile. There is value in the shared experiences and/or perceptions of a group.

8. 8 School Bond Groups 60% Voted Against Funding Stated Project Goals Findings and Outcomes –No bond would pass –Reduced bond failed by same margin –Community initiative led to bond passage

9. 9 Focus Group Tips Allow participants to surprise you. Have a good facilitator. Observe groups with patience. Conduct enough groups for a pattern to emerge.

10. 10 Quantitative Survey/Poll How many, how much, or how often?

11. 11 Best when … You need to quantify opinions, preferences, actions, or behaviors. You can obtain the required information through closed end survey questions. You want to identify market segments or track trends.

12. 12 RNC Baseline Study Benchmark Attitudes and Awareness Develop Marketing Strategy Prioritize Marketing Communications Key Findings –Limited Awareness –Builder / Buyer Focus –Address Misperceptions

13. 13 Survey/Poll Tips Insist on tight match between survey questions and information goals. Ask the supplier to demonstrate how they are ensuring the quality of your work. Expect analysis beyond percentages, but beware of “black box” analysis techniques.

14. 14 Last Words... Market research should be integrated with your existing skills and knowledge. Allow professionals to use research tools that are consistent with your information needs. It takes time to understand what a research program is telling you.