Transcript No Slide Title

Chapter One
The Strategic Role of
Marketing Research
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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Learning Objectives
 Describe and explain the impact
marketing research has on
marketing decisions
 Demonstrate how marketing
research fits into the strategic
planning process
 Provide examples of marketing
research studies
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-2
Learning Objectives
 Understand the scope and focus
of the marketing research
industry
 Understand emerging trends
and new skills associated with
marketing research
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-3
Marketing Research Defined
 Marketing research can be
defined as:
 … the function that links an
organisation to its market through
the generation of information. This
information allows for the
identification and definition of
market-driven opportunities and
problems ...
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-4
Marketing Defined
 Marketing can defined as:
 … a business process that seeks to
maximise the return to owners of the firm
by developing and implementing
strategies to create a sustainable
differential advantage and build
relationships of trust with high-value
customers ...
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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The Marketing Research
Context
 Marketing seeks to shift a firm towards
attractive markets and position the firm
in a competitive way to create a
sustainable differential advantage using
the positioning process.
 This entails planning and executing the
development, pricing, promotion and
distribution of products
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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Marketing Research and
Strategic Planning
 The marketing plan is the cornerstone
of strategic planning
 These are the planning processes that focus
on the utilisation of marketing resources
and capabilities in attractive markets
 Marketing research is the basis of a
superior marketing plan
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-8
Market Segmentation Analysis
 Information on how to divide an
attractive market into meaningful
segments, using benefit and lifestyle
studies
 The objective is to:
 Collect information about customer
characteristics, product benefits, brand
preferences and demographics
 These are related to purchase patterns, to
develop market segmentation profiles
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-9
Customer Analysis
 Helps determine:
 Which market segments to serve
 The most efficient way of serving the
targeted group, through target market
analysis
 Provides information on:
 New product opportunities
 Demographics
 User profiles
 The effectiveness of current strategies
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-10
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-11
Competitor Analysis
 Helps determine which market
segments to serve:
 Entails evaluating competitors’ strategies,
strengths, limitations and future plans
 Asks consumers to identify the key
attributes, and their relative importance,
that drive purchase behaviour. May
include:
 Price, product performance, quality, service
outcomes and convenience
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-12
Dynamic Potential Analysis of
the External Environment
 Involves collecting information on
market segments to forecast potential
changes
 Three approaches to collect data:
 Content analysis
 In-depth interviews
 Formal rating procedures
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-13
Brand Development
 The process of establishing a general
meaning or definition of the product
offering that is consistent with the
benefits customers need
 Accomplished by combining elements
of the marketing mix to meet or exceed
targeted customers’ expectations
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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Product Portfolio Strategy
 Focuses on the total product line:
 To assist in making decisions about
reducing costs, and altering marketing
mixes and product lines
 Includes:
 Customer satisfaction studies focusing on
the marketing mix strengths and
weaknesses
 Service quality studies focusing on the
degree to which firms meet service
expectations
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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New Product Planning
 Research tasks relate to:
 Concept and product testing
 Test marketing
 The purpose is to determine:
 How the product performs for the customer
 How the product can be improved to exceed
customer expectations
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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Distribution Strategy
 Relates to examining strategies that link
producers with end users
 Includes:
 Cycle time research
 Retailing research
 Logistic assessment
 Total cost analysis
 Service sensitivity analysis
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-17
Pricing Strategy
 Involves:
 Pricing new products, establishing pricing
levels for test marketing, modifying prices
for existing products
 Seeks to establish potential demand, price
sensitivity, non-price factors and sales–price
interactions
 Includes:
 Demand analysis
 Sales forecasting
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
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Integrated Marketing
Communications
 Relates to returns for promotional
investment
 Includes:
 Advertising effectiveness studies, including
awareness generated and perceived product
benefits
 Attitudinal research, including cognition, affect
and behavioural outcomes
 Sales tracking
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-19
The Marketing Research
Industry
 Research providers may be internal or
external:
 Internal providers allow for method
consistency, shared information and
minimised spending with actionable results
 External providers allow for increased
objectivity, specialised service provision
and a project-by-project basis with greater
flexibility
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-20
Changing Skills for a Changing
Industry
 Fundamental skills include:
 Communication, interpersonal skills and
statistical skills
 Emerging trends:
 A shift from analytical to executional
requirements in the marketing research
industry
 This includes a shift from primary data
collection to knowledge management systems
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-21
A Changing View of the
Marketing Research Process
 Issues include:
 Growing emphasis on secondary data
collection, analysis and interpretation
 Shortening time frame for marketing
information
 Changing demographic profiles, and privacy
concerns and safeguards
 Globalisation
 Changing role of marketing research within
the strategy development process
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-22
Copyright  2004 McGraw-Hill Pty Ltd
PPTs t/a Marketing Research by Lukas, Hair, Bush and Ortinau
Slides prepared by Tony Peloso
1-23