Assume they changed the marketing mix strategy development stages continued

This was written about one year ago. Do you agree or disagree?

Image by Qualtrics

Insights IKEA may find helpful regarding their furniture:

https://www.youtube.com/watch?
v=Kv0ZyyJWHgY

6. Help for gambling. Where would they go to for help?

Females would not go to a friend with their gambling problems, someone with whom they had professional dealings (ie. Colleagues) or an agency or professional specialising in gambling help because this is seen as a bit “extreme”. Women made it very clear that “women judge other women”, so unless they could anonymously seek help, they felt very uncomfortable.

presented to

.

Most real world marketing research is

Let’s hear Steve Jobs’ view: https://www.youtube.com/watch? v=2U3w5Blv0Lg

For those interested in spaghetti – there is not one sauce, but sauces. Discovering this insight earned $600 million! This is a long (18 minutes), but enjoyable video about identifying market segments.

“Marketing Research: What to Run and What to Pause During Unpredictable Times”

HERE ARE SOME REASONS TO CONDUCT MARKET RESEARCH

2. Analysing and selecting target markets

– What segments apply to Bond University? Do these segments “behave” differently?

MARKETING STRATEGY
DEVELOPMENT STAGES (CONTINUED)

4. Analysing market performance
– Example: Student surveys (Tevals) form an important part of the performance monitoring process of teaching in universities.

• Growth of the internet and social media

Searching for options

• Last class we discussed four reasons to conduct market research. Which of the four reasons is closest to what the article suggests?

• What did they mean by show “empathy for the
participants” and “sensitivity to the current situation”?

And now we will…
•Defined MR, and then discuss 6 steps in the research process.

•At step 2, we will do a tangent to introduce 3 types or research designs: exploratory, descriptive and causal (experiments)

Please see how the steps below correspond to the next figure.

Please know these steps.

– Often, only symptoms of the problem may be apparent. Example, sales may be declining… There are many reasons sales decline. What can cause sales to decline?

– Clearly define a few research objectives –this is critical! (When the research is all done … did you answer the objectives? If not, why not?)

Note that these are “testable” research questions or hypotheses.

2. PLANNING THE RESEARCH

(The type of research you choose to use affects like how you will collect and analyze data)

RESEARCH DESIGNS (3 TYPES): 1. EXPLORATORY RESEARCH

EXPLORATORY RESEARCH TECHNIQUES

• Secondary data
• Pilot studies
• Observation research
• Focus groups/depth interviews
– Share “bringing ambition to life”:
https://www.youtube.com/watch?v=MVAPp29Zr7s – Share ironing example

You will analyse your survey with Excel or SPSS.

3. CAUSAL RESEARCH

For your projects, the techniques you will probably use for your Exploratory/Descriptive design are:

•Secondary research – definitely include some background research

– Perhaps you can add observation research

Short ethnographic video (applied research):
https://www.youtube.com/watch?v=0fM_CJ5vDK4 https://www.youtube.com/watch?v=vs8au2G0cb4

• Researchers can choose among alternative techniques for solving a problem.

Back to step 3 of 6 step market research process…

SAMPLING ISSUES

• Target population: Who is to be sampled?

• Editing: Checking the data collection forms for omissions, legibility and consistency in classification.

• Coding: Developing rules for interpreting, categorising, recording and transferring the data to the data storage media.

This is how I will grade you. It is that simple!

p.s. You can read ch. 16 anytime…

KEY TAKEAWAYS

• Marketing research is the systematic and objective process of gathering information to aid marketing decisions. If you are not the producer of market research, you will definitely be a user!

• Helps shift risky intuitive decisions to systematic, objective-based decisions.

• Two classification of research – basic vs. applied.

and how it will be used.

• Choice - Individuals must have the option to opt out of the collection

collected information.

• Data Integrity - Data must be relevant and reliable for the purpose it