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    Marketing Research and Competitive Intelligence

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    Talha Farooqui
    Marketing research involves systematically collecting and analyzing data to help address marketing challenges facing a company. It can be conducted internally or externally and includes defining problems, developing a research plan, collecting and analyzing information from various sources, presenting findings, and making decisions. The goal is to provide insights around topics like consumer behavior, competitors, and market trends to help measure marketing performance and ROI. Common research methods include surveys, interviews, focus groups, and experiments.

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    Marketing Research and Competitive Intelligence

    Uploaded by

    Talha Farooqui
    9 views26 pages
    Marketing research involves systematically collecting and analyzing data to help address marketing challenges facing a company. It can be conducted internally or externally and includes defining problems, developing a research plan, collecting and analyzing information from various sources, presenting findings, and making decisions. The goal is to provide insights around topics like consumer behavior, competitors, and market trends to help measure marketing performance and ROI. Common research methods include surveys, interviews, focus groups, and experiments.

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    Marketing research involves systematically collecting and analyzing data to help address marketing challenges facing a company. It can be conducted internally or externally and includes defining problems, developing a research plan, collecting and analyzing information from various sources, presenting findings, and making decisions. The goal is to provide insights around topics like consumer behavior, competitors, and market trends to help measure marketing performance and ROI. Common research methods include surveys, interviews, focus groups, and experiments.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    9 views26 pages

    Marketing Research and Competitive Intelligence

    Uploaded by

    Talha Farooqui
    Marketing research involves systematically collecting and analyzing data to help address marketing challenges facing a company. It can be conducted internally or externally and includes defining problems, developing a research plan, collecting and analyzing information from various sources, presenting findings, and making decisions. The goal is to provide insights around topics like consumer behavior, competitors, and market trends to help measure marketing performance and ROI. Common research methods include surveys, interviews, focus groups, and experiments.

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    Marketing Research

    and Competitive Intelligence


    Key Questions
    • What constitutes good marketing research?
    • What are the best metrics for measuring marketing
    productivity?
    • How can marketers assess their return on investment (ROI)
    of marketing expenditures?
    What is Marketing Research?
    • Marketing research is the systematic design, collection,
    analysis, and reporting of data and findings relevant to a
    specific marketing situation facing the company.

    • Marketing research firms can be in-house/internal or


    external firms, which can provide a full range of services or a
    few specific services like data collection only or data analysis
    only.
    The Marketing Research Process
    • Define the problem (research questions and objectives)
    • Develop research plan
    • Collect information (primary and secondary sources)
    • Analyze information
    • Present findings
    • Make decision
    Types of Research (Some examples)
    • Exploratory (usually qualitative research to explore something)
    • Descriptive (to describe the characteristics of something,
    which is usually a qualitative study without testing any
    hypotheses through inferential statistics)
    • Causal (quantitative research to explain cause and effect
    relationship among some variables; also called correlational
    studies)
    • Exploratory and exploratory studies (mixed methods’ studies
    comprising qualitative and quantitative researches)
    Research Approaches/Techniques (Some examples)
    • Interviews (containing open-ended, structured or semi-
    structured questions used for a qualitative study)
    • Focus group (an interview simultaneously from a group of 8-12
    people)
    • Observational and ethnographic studies (qualitative or
    quantitative)
    • Survey (containing close-ended, structured questions on a scale
    used for a quantitative study with a large sample, which tests
    hypotheses through inferential statistics)
    • Experimental (a quantitative study)
    Focus Group
    Marketing Research and Competitive
    Intelligence
    • Consumer insights (complaints and feedback, social media
    reviews, trends, needs and wants, demands, gaps or sweet
    spots)
    • Rival and competitors’ offers, network, and capabilities
    • Market news and updates (from published sources to sales and
    distribution network, expert opinions, trade associations,
    consultants, government sources, etc.)
    • New entrants, minor, and major players
    • Alliances, joint ventures, mergers, acquisitions, takeovers, etc.
    Marketing Metrics
    • Marketing metrics are the set of measures that helps
    marketers quantify, compare, and interpret marketing
    performance. One simple bottom line is ROI.
    What is Marketing-Mix Modeling?
    • Marketing-mix models analyze data from a variety of
    sources, such as retailer scanner data, company shipment
    data, pricing, media, and promotion spending data, to
    understand more precisely the effects of specific marketing
    activities.
    Demand Forecasting,
    Segmentation, Targeting, and
    Positioning (STP)
    Forecasting and Demand Measurement

    • How can we measure market demand?


    • Potential market
    • Available market
    • Target market
    • Penetrated market
    Demand Measurement
    Demand Measurement (examples)
    Estimating Future Demand
    • Survey of Buyers’ Intentions
    • Composite of Sales Force Opinions
    • Expert Opinion
    • Past-Sales Analysis
    • Market-Test Method

    • Formula: average quantity bought by each customer in a


    given period times price
    Segmentation and Market-Driven Strategy
    SEGMENTS

    VALUE
    OPPORTUNITIES

    CAPABILITIES/
    SEGMENT
    MATCH

    TARGET(S)

    POSITIONING
    STRATEGY
    Product Variant Segmentation (ex. Tata Nano)
    Product Type Segmentation (ex. cars only)
    Generic Segmentation (ex. all automobiles)
    Benefits of Segmentation
    • Effective use of resources
    • Gain a focus
    • Create Value for a target market
    • Analyze the competitors, do research, and select the target market
    that is profitable, large enough to be attractive, and growth-oriented
    • Positioning
    Market Segmentation - Levels of Market
    Segmentation

    Through market segmentation, companies divide large, heterogeneous markets


    into smaller segments that can be reached more efficiently and effectively with
    products and services that match their unique needs.
    (no segmentation, i.e. a commodity)
    Same product to all consumers
    Mass Marketing
    (some segmentation, i.e. Marriott)
    Different products to one or more segments
    Segment Marketing
    Illustrative Segmentation Variables
    Consumer Industrial/
    Markets Organizational Markets
    Characteristics Age, gender, income, Type of industry, size,
    of people/ family size, lifecycle geographic location,
    organizations stage, geographic corporate culture, stage of
    location, development, producer/
    lifestyle intermediary
    Use situation Occasion, importance of Application, purchasing
    purchase, prior procedure (new buy, modified
    experience with product, rebuy, or straight rebuy)
    user status
    Buyers’ needs/ Brand loyalty status, brand Performance requirements,
    preferences preference, benefits sought, brand preferences, desired
    quality, price, proneness to features, price, service
    make a deal requirements
    Purchase Size of purchase, Volume, frequency
    behavior frequency of purchase of purchase, on cash or credit
    Basis of Market Segmentation
    S# Type Sub-type (or basis of segmentation)
    1 Geographic Segmentation region, province, city, urban, rural, semi-urban, and
    climate

    2 Demographic Segmentation age, gender, family size, family life cycle, income,
    occupation, race, religion, and nationality or ethnic
    mix

    3 Psychographic Segmentation social class, personality, and lifestyle


    4 Behavioral Segmentation occasion to use the product, benefits sought, user
    status (non-user or user), usage rate, loyalty status,
    readiness to use stage (to become aware or desirous
    Source: Adapted from David (2009); Kotler (1984); Qureshi (2014)
    to use), and attitude toward the product
    Segment Dimensions for Hotel Lodging
    Services
    Creating New Categories of Products,
    Niches, and Industries
    Positioning Strategy
    • Deciding the desired perception/association of an
    organization/ brand by target buyers…and designing the
    marketing program to meet (and exceed) buyers’ value
    requirements.
    • Some examples: positioning by differentiation, perceived
    value/value proposition/unique sales proposition (USP),
    pricing, premium price and quality, product
    characteristics/features/benefits, use or application,
    product class, cultural symbols, matching with the
    competitors’ offers, etc.
    Developing the Positioning Strategy

    The positioning strategy places the


    marketing program (mix)
    components into a coordinated
    set of actions designed to
    deliver superior customer
    value
    PRODUCT
    VALUE CHAIN
    PROMOTION
    PRICE
    Positioning Issues
    1. The positioning concept applies to a specific brand
    rather than all the competing brands that compose a
    product classification.

    2. The concept is used to guide positioning decisions


    over the life of the brand.

    3. Multiple concepts are likely to confuse buyers and


    may weaken the effectiveness of positioning actions
    (Ex. Small size Mercedes Benz cars).

    4. Under-positioning and over-positioning the brand

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