how to conduct successful research marketing projects
DESCRIPTION
Marketing Research is all about connecting you with your customer base to determine what to market. How to market. When to market. What to say. What not to say.If Designed and Executed with the proper methodology, based on your unique business needs, a Marketing Research project can provide your organization with a sustained competitive advantage.In this presentation we will walk you through a step by step process for developing and executing a Marketing Research Project that will maximize your organization\'s ability to Increase Sales and Capture Competitive Marketshare.For over 30 years the House of Marketing Research has successfully demonstrated our ability to maximize our client\'s market research budget so they can make more informed business decisions.In this presentation we\'ll share our secrets of Market Research success with you.FREE CONSULTATIONAmy SiadakHouse of Marketing ResearchPH: 626.486.1400 [email protected]TRANSCRIPT
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How to Conduct
Successful Marketing
Research Projects
Amy Siadak
June 3, 2011
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Today’s Presenter
Amy Siadak
President
Amy Siadak joined House of Marketing Research
(“HMR”) in 1990.
In 2001, Amy became President and Owner of
HMR. Amy has a solid and proven experience
working on marketing research projects that range
from non-profit organizations, small businesses,
and Fortune 500 companies.
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About HMR
Established > Founded 1976
Office > Pasadena, CA
Diverse Staff>
Languages spoken: English, Tagalog,
Mandarin, Cantonese, Korean,
Vietnamese, and Spanish
Broad Client Base > Global Corporations, Market Research
Firms, Advertising Agencies and Small Businesses
Our Focus > General Market, Consumer Reach, Business-to-
Business, Asian Research, Latin/Hispanic Research
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Impact of Economy On Businesses
1.Reduced budgets and discretionary spending
2.Increased pressure to show clear visible
outcome of each project
Need for Market Research Professionals
1. Get it right the first time
2. Provide timely quality data to help businesses
make informed business decisions
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Understand your
objectives
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Know Your Goals
• Know your business
goals
• Know what is in and
out of your scope
• Be specific about
what this study is
meant to
accomplish
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Agree On Deliverables
> Make a clear statement of work
> Hold a kick off meeting
– Invite all stakeholders
– Set a clear agenda
– Set timeline and milestone
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Traditional Views of
Research Methods
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What is the goal of your research?
> Understanding the consumer
> Evaluate a concept or brand positioning
> Testing a new product
> Determine product viability
> Understanding purchase behavior
> Updating current and past research methodologies
– Tracking study – Brand equity
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Research Methods
Method Qualitative Quantitative
Perspective Exploratory Confirmatory
Tools Focus groups, in-depth
interviews, Social
networks, observation
(ethnography), bulletin
board chats, online focus
groups,
Surveys, tabulations,
multivariate analysis,
graphical reporting
Analytical Aim Themed, behaviors,
reason why
Numerical descriptions
Primary
Research
Consumer
Creative Communication or key
drivers
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Design Components
Method Qualitative Quantitative
Data Collection Inductive development of
strategies to product
characteristics
Collection of
textual/visual/oral
materials
Prior development of
brand measurements
Quantitative and
testing multivariate
testing
Data Analysis Textual analysis (memos,
coding, quotations)
Narrative approaches
Numerical descriptives
Estimation of
population variable
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Most Common Method
Qualitative methods
Used to develop
Quantitative design
Qualitative Quantitative Results
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Overview of
Qualitative Methods
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Traditional In-person Groups / Mini Groups
# of Participants > 8-10 participants/Mini 4-5
Research Input > Sight, Sound, Smell, Taste, Touch
Typical Data Collection Time > 1.5 – 2 hours sessions
Observer Experience > Focus Group Facility/one way mirror
Level of Observer Engagement > Moderate
Speed of Participant response > Immediate
Project Timetable > 2-4 weeks
Data Delivery > 5-7 days (depending on report format)
Average Costs > $5K-$10K/group/Mini $3K - $5K
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Online Focus Groups
# of Participants > -8-10 participants
Research Input > Sight, Sound
Typical Data Collection Time > 1- 1.5 hours
Observer Experience > Online platform/backroom private chat
Level of Observer Engagement > Moderate to easy
Speed of Participant response > Immediate
Project Timetable > 2-3 weeks
Data Delivery > Instant (transcripts)/5-7 days full report
Average Costs > $5K-$8K/group
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Key Points to Setting Up Focus Groups
Recruiting
– Garbage in/Garbage out
– Reputable and ethical recruiting
– Identify your target market audience
– Participants are sourced, screened and pre-qualified
Facility
– Traditional Face-to-Face/Focus Group Facilities are nationwide and globally
• Geographically desirable for participants
– Online platforms
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Key Points to Setting Up Focus Groups
Moderator
– Knowledge in industry
– Hire a Professional
• Personality, skill and understanding of your objectives
– Interview
Analysis
– Top line summary report
– Full report with recommendations and next steps
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Benefits of Doing Focus Groups
• Allow diverse opinions and different perspectives
• Informal and free flowing discussion - exploratory
• Elicit deeper levels of thought and feelings
• Immediate feedback
• Non-verbal behaviors and facial expressions
• Tremendous amounts of data at a reasonable cost
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Overview of
Quantitative Methods
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Surveys• Data Collection Methods
– Telephone
– Intercepts
– Online
• Sample
– Talk to the right audience/Identify different customer types
– Your own customer list
– Purchase lists
– Panels
• Ask The Right Questions
– Question sequences
– Remember your research objectives
– Length of survey
• Analysis and Actionable Data
– Measurement
– Statistical data
Surveys
• Data Collection Methods
• Telephone
• Intercepts
• Online
• Sample
• Talk to the right audience
/ Identify different customer types
• Your own customer list
• Purchase Lists
• Panels
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Surveys• Data Collection Methods
– Telephone
– Intercepts
– Online
• Sample
– Talk to the right audience/Identify different customer types
– Your own customer list
– Purchase lists
– Panels
• Ask The Right Questions
– Question sequences
– Remember your research objectives
– Length of survey
• Analysis and Actionable Data
– Measurement
– Statistical data
Surveys
• Ask the right questions
• Question sequences
• Remember your research objectives
• Length of Survey
• Analysis and Actionable Data
• Measurement
• Statistical Data
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Surveys• Data Collection Methods
– Telephone
– Intercepts
– Online
• Sample
– Talk to the right audience/Identify different customer types
– Your own customer list
– Purchase lists
– Panels
• Ask The Right Questions
– Question sequences
– Remember your research objectives
– Length of survey
• Analysis and Actionable Data
– Measurement
– Statistical data
Benefits of Doing Surveys
• To answer “How many?” or “How much?
• Answers levels of satisfaction or dissatisfaction with
a product or service
• Allows measurement against competitors product or
services
• Obtain a composite profile of the population
• Graphs and tables/numbers
• Quantifiable
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Case Study
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Look Before Leaping – Case Study
Category: Smart Phone Dating App
Methods: Concept Testing, Product Testing, Sales Forecasting
Budget: $8K
Research Objectives
• The primary objective was to assess the market potential represented by the new
app product, and to determine if the app was optimal in terms of consumer
acceptance and probability of purchase.
• If the product were optimal, then what retail prices would be optimal?
• If the product were less than optimal, how should it be modified to maximize
consumer acceptance?
• Get investor funding
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Research and Design
• Sample size = 500
• Who – College students
• Surveys were conducted by doing intercepts on school campus
• Series of 3 mini groups conducted
– Males
– Females
– Mixed Gender
• On-going participant panel arranged to test the beta version and
subsequent versions
– Online diary
– Surveys
• Additional follow up focus groups
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Results
• We learned that because the internet has a plethora of dating sites, this app could
get overlooked as “just another dating site”.
• In order to succeed, the marketing messages need to highlight the apps feature for it
being a “location based” app paired with social network aspects.
• We also uncovered several concerns, particularly with the female segment. This
allowed the team to address security issues prior to launching the beta test.
• We uncovered the top five buying motivators and established the price points.
• The clients were able to secure $250,000 investment money. It allowed the new
start-up company to continue working on the technology, fine tune the app features
and begin creating their marketing messages.
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Resources For Research Partners
To find recruiters, facilities (traditional and online) and moderators:
Quirks.com
Bluebook.org
Greenbook.org
hmr-research.com
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Take Aways
• Plan your strategy
• Carefully select the right
research methodology
• Insightful research information
will help you make better
informed business decisions
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Thank You !
FREE CONSULTATION
Amy Siadak
House of Marketing Research
PH: 626.486.1400 x204