Market research plays a crucial role in a business’s success and growth and is an important aspect of starting a new business or developing a new product or even getting to know about your competition. Let's learn it's importance in marketing management and 7 steps of market research process.

1. HOW DOES RESEARCH FIT
INTO THE BROADER SCOPE
OF MARKETING
MANAGEMENT??
Leading Online Market Research Company in Vietnam

2. Review of Marketing
Management
target
market

3. The External Environment
Economic
Environment
Political
and Legal
Environment
Customer
Value and
Behavior
Social
Environment
Competitive
Environment
Marketing
Strategy
Technological
Environment
Natural
Environment

4. The Value of Marketing Research


Reduces risk in decision
making
Let’s move away from
making decisions based
on anecdotal evidence
(i.e., information or
casual observation that
is not based on facts or
careful study)

5. Marketing research is the ―function which links
the consumer, customer, and public to the
marketer through information--information used
to identify and define marketing opportunities and
problems; generate, refine and evaluate
marketing
actions;
monitor
marketing
performance; and improve understanding of m
Marketing research is the ―function which links
the consumer, customer, and public to the
marketer through information-information used to
identify and define marketing opportunities and
problems;
marketing
generate,
actions;
refine and evaluate
monitor
marketing
performance; and improve understanding of
marketing as a process.‖
- American Marketing Association-

6. Marketing Research Defined

Marketing research is the systematic and objective


collection

analysis

dissemination


identification
and use of information
For the purpose of improving decision making related to
the

identification of problems and opportunities and

solution of problems and opportunities in marketing.
6

7. Using Information….
Used to identify and define
market opportunities and
problems
Generate, refine, and evaluate
marketing performance
Monitor marketing performance
Improve understanding of
marketing as a process
7

8. The need for information…




MR focuses on the use of information as a
source of strategic advantage
As marketers, we should strive for a thorough
knowledge of customers, and their attitudes,
tastes, preferences
We should also want to keep an eye on
competition (e.g., benchmarking)
This information will help us making strategic
marketing decisions (e.g., 4 P’s)

9. To sum up, the function of marketing research is
to provide managers with information

10. Marketing Research
Problem /Opportunity
Identification Research
Market Potential Research
Market Share Research
Market Characteristics Research
Sales Analysis Research
Forecasting Research
Business Trends Research
Problem-Solving
Research
Segmentation Research
Product Research
Pricing Research
Promotion Research
Distribution Research
10

11. Users of Market Research

Fortune-500 Firms
 e.g.,

Entrepreneurs
 e.g.,

Product tweeks, shelf location
Market size, growth potential, viability
And everyone in-between…

12. Marketing research can tell us…












How our customer service is perceived by our customers and what
particular areas we can improve on or emphasize
How customers shop and how we can adjust our atmospherics to maximize
sales
What new products or new product features do customers want
How customers perceive us in relation to our key competitor (or do they
even recognize us as a key player in the industry)
Who our most loyal customers are and how do we cater to this important
segment
Who our prototypical customer is
How can we segment the market in more manageable groups
What marketing communications are most effective at reaching various
segments of the market
What is going to be the demand for a new product or an existing product in
a new market
Where should we build our next retail location
At what price point we can maximize profitability and maintain consumer
demand
Which media vehicles will be most effective to communicate our advertising

13. Project vs. Info Systems

Information Systems Approach (MIS—
Marketing Information System)
 ―Ongoing‖
decision tool
 Interactive / Non-technical models
 Database Marketing
 e.g., Retail Link

Project-Based (the focus of this discussion)

14. Research $$ are spent on…

15. THE RESEARCH
PROCESS
Leading Online Market Research Company in
Vietnam

16. Just to reemphasize…



Marketing research is the marketer’s link
to understanding the consumer and the
external environment
The SOLE purpose of marketing research
is to inform decisions
Every research project is different...

17. Step 1: Problem Formulation

A well-defined study begins with a clearly
defined objective
“The formulation of a problem is often more essential than its
solution” - Albert Einstein


The problem is rarely clear-cut
Slight variations in research questions can lead
to substantial changes in the research process
(so be careful)

Drives decisions related to research design,
measurement, sampling, analysis, etc.

18. Step 1: Problem Formulation
Stage in the
Process
Typical Questions
Formulate problem
• What is the purpose of the study (i.e.,
to solve a problem? Identify an
opportunity?)
• Is additional background information
necessary?
• What are specific research questions
and what information is needed to
make the decision?
• How will the information be utilized?
• Has a decision already been made?
• Should research be conducted?

19. Step 1: Problem Formulation

Formulate Problem





Obesity is the 2nd leading cause of preventable death in the
US
What can be done?
Can the provision of nutrition information help consumers
make better (healthier) food consumption decisions?
(decision problem)
How good (accurate) are consumers at estimating the
nutritional content of restaurant foods? and Can providing
objective nutrient information improve food evaluation and
choice (research problems)
State hypotheses to be tested based on theory
 Based on Expectancy disconfirmation theory:

H3a: When objective nutrition information is less favorable
than consumers’ expect, nutrition information provision will
have a greater negative influence on product attitudes and
purchase intentions and a greater positive influence on
perceived likelihood of weight gain and heart disease.

20. Step 2: Determine Research Design

Dictated by the problem or research
question

Exploratory Research


Descriptive Research


―Discovery‖
―Relationships‖
Causal Research

Experiments

21. Step 2: Determine Research Design
Stage in the
Process
Typical Questions
Determine research
design
• How much is already known?
• Can a hypothesis be formulated?
• What types of questions need to be
answered?
• What type of study will best address
the research questions?

22. Step 2: Determine Research Design

Determine Research Design
Two research problems (questions) require two
designs
 How good (accurate) are consumers at estimating the
nutritional content of restaurant foods?



Simple survey that asks participants to estimate nutritional
content of common restaurant foods
Can providing objective nutrient information improve
food evaluation and choice

Between-subjects experiment

23. Step 3: Design Data Collection & Forms

Secondary research – not necessary

Survey Research
 Lots

of ways to collect data
Measurement
 Constructs
/ Variables

24. Step 3: Design Data Collection & Forms
Stage in the Process
Typical Questions
Determine data collection
method and forms
Can existing data be used to advantage?
What is to be measured? How?
What is the source of the data?
Can objective answers be obtained by asking people?
How should people be questioned?
Should the questionnaires be administered in person, over
the phone, or through the mail?
Should electronic or mechanical means be used to make the
observations?
Should structure or unstructured items be used to collect the
data?
Should the purpose of the study be made known to the
respondents?
Should rating scales be used in the questionnaire?

25. Step 3: Design Data Collection & Forms

Design Data Collection and Forms


Quantitative data needed
Questionnaires with estimations, multi-item
attitudinal/risk/intentions variables

26. Step 4: Design Sample and Collect Data






Determine your ―target market‖
Determine necessary sample size
Sampling Methodology
Logistics
Cost
Ethics

27. Step 4: Design Sample and Collect Data
Stage in the Process
Typical Questions
Design sample and collect the
data
• Who is the target population?
• Is a list of population elements available?
• Is a sample necessary?
• Is a probability sample desirable?
• How large should the sample be?
• How should the sample be selected?
• Who will gather the data?
• How much supervision is needed?
• What operational procedures will be followed?
• What methods will be used to ensure the quality of
the data collected?

28. Step 4: Design Sample and Collect Data

Design Sample and Collect Data

Adult Sample


Recruited by undergrads
Mail panel

29. Step 5: Analyze and Interpret the Data

Edit / clean / code the data

Analyze

Interprete

30. Step 5: Analyze and Interpret the Data
Stage in the
Process
Typical Questions
Analyze and interpret the
data
• Who will handle the editing of the data?
• How will the data be coded?
• Who will supervise the coding and
keypunching?
• What tabulations / statistical tests /
analysis techniques will be used?

31. Step 6: Analyze and Interpret the Data

Analyze and interpret the data
Crosstabs and other simple computations
 ANOVA / MANOVA / Chi-Square

 Results
show that most consumers are
unaware of high levels of calories, fat,
saturated fat, and sodium found in many
menu items. Provision of nutrition information
on restaurant menus could potentially have a
positive impact on public health by reducing
the consumption of less healthful foods

32. Step 6: Analyze and Interpret the Data

Know your audience

Sell your findings

33. Step 7: Prepare Research Report
Stage in the
Process
Typical Questions
Prepare the research
report
• Who will read the report?
• What is their technical level of
sophistication?
• Are managerial recommendations
called for?
• What will be the format of the
written report?
• Is an oral report necessary?
• How should the oral report be
structured?

34. Step 7: Prepare Research Report

Prepare Research Report

Manuscript prepared for journal submission

35. Thank you
A leading website in the field of Market Research in Vietnam.
Viet Nam

36. Contact information
InfoQ Viet Nam is a member of GMO
Research Company, is known as a
famous company specializing in the
field of market research in Japan and
Europe with global website system
located in more than 40 countries
worldwide. In GMO Research’s
research solution platform, they
provide
online
panels,
social
research, mobile research, Eye
Tracking, and MROC solutions
among other services
INFOQ VIET NAM
Add: 118 Nguyen Ngoc Nai,
Thanh Xuan, Ha Noi
Tel: (04) 3566-8180
Email: infoq@runsystem.net;
quynhdtx@runsystem.net
Website:
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