Lektion 4: Marketing Research and Customer Insights

Fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships.

Knowing that customers buy your drill not for the drill itself, but for the "hole in the wall."

A structure of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision-makers.

Includes Internal Data, Intelligence, Environmental Scanning and Research.

Electronic collections of consumer and market information obtained from data sources within the company network.

Sales records, customer service logs, website hits.

The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.

Checking competitors' websites; reading industry trade journals.

Tracking broader trends (PESTEL) that might affect the future or the indsutry

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

1. Initial Contact: Realizing there is a problem

2. Research brief: Written by the client and outlines the problem and the objectives (the ask)

3. Research proposal: The agency writes the outlines, methodology, timeline, and cost (the answer)

4. Exploratory Research: Preliminary work to clarify the problem

5. Data collection: The acutal fieldwork (This is where descriptive and casual Research come in)

6. Data Analysis: Interpreting the numbers/text

7. Report writing: Presenting the findings

Marketing research to gather preliminary information that will help define problems and suggest hypotheses.

Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers.

"What % of our customers are female?" (Answered via surveys).

Marketing research to test hypotheses about cause-and-effect relationships.

"If we lower price by 10%, will sales rise by 5%?" (Answered via experiments).

Information that already exists somewhere, having been collected for another purpose.

Government census data; industry reports.

Information collected for the specific purpose at hand.

The results of the survey you just ran.

A personal interviewing involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization.

Good for generating new ideas or understanding deep feelings.

A form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments."

Watching a family cook dinner to see how they actually use pasta sauce.

A segment of the population selected for marketing research to represent the population as a whole.

Surveying 1,000 people to represent the views of 1 million.

The huge and complex data sets generated by today’s sophisticated information generation, collection, storage, and analysis technologies.

Analyzing millions of credit card transactions to predict trends.