Notes for Marketing

By: Sebastian T. Narciso

Topic: Notes for Marketing

Date: March 3, 2020

March 17, 2020 first LT

The Market Research Process

1. Define the problem.

2. Develop the Research Plan
3. Implement the Research Plan
4.

11 Steps of the Market Research Process

1. Step 1: Establish the need for marketing research

2. Step 2: Define the problem

3. Step 3: Establish research objectives

4. Step 4: Determine research design

5. Step 5: Identify information types and sources

6. Step 6: Determine methods of accessing data

7. Step 7: Design data collection forms

8. Step 8: Determine the sample plan and size

9. Step 9: Collect data

10. Step 10: Analyze data

11. Step 11: Prepare and present the final research report

Backwards Market Research

Backwards Market Research

1. Determine key decisions

Grou

1. Develop the Research Plan

2. Implement the Research Plan

Market Research Process: Problem Definition

Establish the need for Marketing Research

- When managers must make decisions and they have inadwequate information, this
signals the need for marketing research.
o Note that not all decisions will require market research
- Cost-Benefit Analysis
o Managers should always consider the cost of research and the value that they
expect to receive from conducting it
o If it is too expensive with little benefits, then don’t do the research. Most start-
ups only do informal research.
- However,
- Definition
- Define the Problem: The Importance of Properly Defining the Problem
o How a problem is defined sets the direction
- The “problem”

- Examples:

- Sources of Problems?
o Failure to meet an objective
o Missed Opportunity/New Opportunity

- Question:
-
o Develop or test new product
o Concepts
o Select new product/s to launch
o Choose among advertising copy alternatives
o Determine the price of the product or service, etc.

- Managers should not conduct marketing research just “to know something” because
marketing research takes time and money to conduct’
o People should take action when you conduct research. Even before
considering the research, ask if its actionable. There must be an impact on
sales, brand image, etc.
- Hypothesis

The Market Research Brief

- Prepared by the research user/client
- Ensures research doer and user have the same perspective
- Contents
o Marketing Problem
o Client’s Hypothesis
o Any Relevant Product/Brand/Competitor Information
o Target Market/Segments
o Geographic Coverage
 o Timing Expectations
o Other considerations
 Request for a Meeting (Face to Face meeting or by phone or video
conference), followed by request for a Market Research Proposal from
the Research provider
 Note: Coverage and depth of research brief depends on company
philosophy or practice and level of relationship with research
doer/provider
 To require the research agency to sign a NDA, prepared by Clients’
Actual Case Study #1: Canned sardines (with only two majpr variants then: in
tomato sauce or natural oil)
-
- What client wants: Consumer insights on product extension/product variants (concept
generation stage)
- Discuss: What data and market research study (mention only 1 or 2 study types) are
needed?

Case Study 2: Hunt’s Pork and Beans (Clients’ brand)

- Hunt’s R&D already developed variants of its canned product
- Client’s question: Which variant/s to launch in the Philippine market?

- Discuss:
o What data and market research study (mention only 1 or 2 study types) are
needed?

If he were to do this, then he would only target individuals that already buy canned sardines
and canned pork and beans. Most research are done on category consumers. Respondents
were grocery buyers and housewives.