Marketing is an integral part of every business. Marketing research is a way to find the right marketing strategies for each type of business and business purpose.
In this article, Chiasenow will introduce relevant marketing studies that you can apply to your business model. Lets find out with Chiasenow!
What is Marketing Research?
Marketing research is the scientific research and analysis to support effective decision making for all marketing issues of a company.
According to Wikipedia
Market research, also known as Marketing research, in which:
Market research is the identification, selection, collection, analysis and dissemination of information for the purpose of supporting decision making related to the identification and treatment of problems and opportunities in marketing (Malhotra, 1996).
Market research is an important profession, helping marketers come up with a suitable strategy and thereby bring high efficiency.
In the marketing activities of enterprises, there are many different marketing problems as follows.
- Who should your products and services be targeted for?
- Are your products and services satisfied with your users?
- What should be the price of a new product?
- What is the difference in brand image between the products manufactured in the company and competing products?
- How effective were the campaigns and events youve run?
By the way, it is no exaggeration to say that Marketing issues cover the entire business of a company, and it can be said that Marketing research is extremely important for a company.
Looking at marketing research from the consumers point of view, consumers will convey their voice to the company through marketing research.
By doing so, consumers will enjoy good products and services, and will also improve their lives.
In other words, marketing research is not only a means to solve the companys marketing problems, but also a bridge between the company and the consumer.
The following Chiasenow will explain the process and points of Marketing research planning, questionnaire/fact check, analysis of major Marketing research methods.
Marketing research by survey
Marketing research can be classified into the following two categories according to the continuum nature of the research.
1. Marketing Research by Panel Survey (continuous survey, fixed point survey)
A survey marketing study is to continuously collect information (data) of the same item, the same survey object called survey panel. The survey table is also known as the survey frame.
The fixed census panel is extracted from the population information (a group of all individuals, households, etc. that meet the conditions of the census) as if it were included in the frame.
Typical survey marketing studies include:
Survey of consumer groups
A survey in which the same survey subject (consumer) is provided with barcodes and purchased products are recorded continuously.
By collecting and analyzing data such as when, where, who, what, how much and how long, we can capture the purchasing behavior of our customers. detailed consumer analysis and analysis of consumer needs and segments.
Marketing research by group survey can be used for post-implementation assessment of specific Marketing strategies.
It is also possible to clarify the relationship between media and purchase by collecting media usage records (WEB, SNS) from survey subjects like the consumer group above.
Retail store survey
A survey further collects POS data (Point of Sale data) from the stores that deploy the product.
By collecting and analyzing data such as when, where, type of store (type of business), what and quantity of sales, you can understand actual sales situation at the store and market size and market share.
Marketing research by store survey can be used to assess trends and plan store promotion measures.
2. Marketing research by special survey (custom survey, one-time survey)
Special Surveys are surveys in which surveys are tailored to a specific Marketing research purpose, such as survey audience and survey content, customized each time according to Marketing problem.
While the panel survey captures the behavior of the consumer, the survey is specifically conducted with the aim of capturing the consciousness of the consumer through its own marketing research purposes.
Quantitative and Qualitative Marketing Research
Surveys are specifically classified into quantitative surveys and qualitative surveys according to the type of data collected and analyzed.
1. Quantitative Marketing Research
Data expressed in numbers such as quantity (quantity, quality, etc.) and percentage (percent) is called quantitative data, Marketing studies through collected surveys This collection and analysis is called a quantitative survey. It is mainly done with the aim of capturing the actual situation of the market and verifying the hypothesis. etc.,
Quantitative data is usually collected by surveying a questionnaire and can capture a great deal of data from a wide area.
2. Qualitative Marketing Research
Data that cannot be quantified is called qualitative data, and marketing research through collecting and analyzing surveys is called qualitative survey.
It is mainly conducted with the aim of uncovering the movements of the consumers mind and the reasons for their actions, such as How do you feel? And Why are you acting like this?
Quality data is collected through:
- One-to-one in-depth interviews between survey respondents and interviewers,
- Group interviews with many survey subjects.
This marketing research can easily hear the true intentions of the survey subjects, can uncover new findings that the company in charge of the company did not anticipate, or uncover deep psychological The survey subjects themselves were not aware.
Main Marketing Research Methods
Next, Chiasenow will explain typical Marketing research methods.
1. Marketing Research by Quantitative Survey
Surveys on the Internet
This is a questionnaire survey in which respondents are asked to respond using an Internet survey form. It has the advantages of low cost, quick survey completion and relatively easy implementation.
Survey by mail
This is a questionnaire survey in which the survey form is mailed to the respondents, the responses are filled out and the survey form is returned. We may collect data from people of many attributes, including the elderly (those with relatively low Internet usage).
This is a questionnaire survey conducted by a Marketing researcher who brings the questionnaire to the respondents homes.
There are two types of face-to-face surveys:
- One-time interview method: In which the surveyor asks questions on the spot and fills in the answers
- Continuous Method: In which the surveyor visits again after a certain period of time and collects a survey form filled in by the surveyee himself.
This is a questionnaire survey conducted by gathering survey respondents in a pre-prepared location, such as inside a client company or an outside conference room.
This Marketing Research is used to evaluate new products because it is possible to evaluate the product in an environment where the products testing conditions are controlled. It is also used when dealing with highly confidential items such as the evaluation of pre-broadcast advertisements.
HUT – Households Using Time (HUT)
This is a survey in which sample products are sent to survey subjects, who are asked to try them out for a certain period of time, after which they are asked to answer a questionnaire about their ability to use them. their uses and impressions. Maybe let them try and evaluate in an environment they actually use in everyday life, such as everyday essentials.
2. Qualitative Marketing Research
This is a face-to-face interview between the interviewer and the survey subjects. It is suitable to listen deeply to the customers personal experience and heart.
Focus group interview (FGI – Focus group interview)
This is a survey in which a number of respondents are gathered and interviewed in the form of a roundtable discussion. Participants can stimulate each other in conversation (this interaction is known as group dynamics) to broaden their ideas and deepen discussions.
Marketing research process
In general, Marketing research is done according to the following process.
Make a plan Create a survey / fact check Analyze
1. Planning Marketing Research
Planning begins with listing marketing problems.
The role of marketing research is to support decision-making to address marketing challenges. Therefore, the first step is to clarify the type of marketing problem you want to solve by conducting research.
Once you have a clear marketing strategy in place, its time to build your hypothesis.
Depending on the hypothesis formulated, the survey items, the obtained survey results, and the likelihood of further actions will change. Carefully organize your hypotheses to find those that are ambiguous, biased, flawed, or duplicated.
3 points when doing “survey design”
|After posing the Marketing problems and organizing the hypotheses, consider the following three as a set.|
|first||Method (method of survey)||What kind of information do you need?|
|2||To whom (subject condition)||Who?|
|3||What (survey item/survey form)||What specific information do you need and what do you want to hear?|
As mentioned above, there are different methods for marketing research, so choose the appropriate one.
You dont have to choose a separate survey method. In some cases, consider a combination of qualitative and quantitative studies, or special and seminar studies.
Target audience conditions should be as specific as possible, avoiding ambiguous conditions.
For example, even if you say beer drinker in one word, what kind of beer would be included? Is it for home drinkers or for outside drinkers?
How often do you target drinkers? The target audience changes depending on the detailed condition. Set appropriate conditions based on the purpose of the survey.
The object condition is specific
|People who often drink beer||People who drink beer at home three or more times a week|
|Users of car company A||A person who bought a car model named XX from car manufacturer A is using it|
In quantitative investigation, it is best to take a large sample size to reflect and improve the accuracy of the data, but the larger the sample size, the greater the cost of Marketing research.
Therefore, it is necessary to consider the sample size required for analysis (if there is a hypothetical axis of analysis, is the sample size of each class sufficient) and determine the balance with costs.
Survey items must be well defined to achieve the purpose of the survey, but if there are too many survey items, the response load of the survey subject will increase, resulting in decreased response accuracy.
2. Prepare survey/reality check
Once the survey items have been decided, the order of the questions will be tested and a survey form will be created. Consider the following when considering the order of the questions:
1 Create a structure for respondents to easily answer
The questions are relatively easy to answer, the items are related to each other.
2 Create structure that doesnt interfere with respondents thinking
In order: Past → Present → Future
In order: Big things → small things (category → brand)
3 Create a bias-avoidance profile
Do not give information about the brand before the question
We will analyze the collected data to achieve the marketing research goals set out at the time of planning.
There are different analysis methods, such as fundamental analysis, simple synthesis and cross-sectional analysis, multivariate analysis that deals with many variables statistically…
As mentioned in the beginning, the role of marketing research is to support strategic marketing decisions. Therefore, in analysis and reporting, how to convey the results correctly is also an important point.
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