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Market Research

Internal Branding

Coach Handbags a Case Study


Coach opened its doors in 1941 Family owned, leather goods shop Made classically styled, high quality, leather handbags In the early years they didnt need market research Handbags were functional items Woman didnt waste time on their purse-buying decisions Offered bags in black & brown Ornamentation was limited to a gold latch Earned reputation as traditional sturdy standbys Conservative professionals became the core customer They were cruising Then suddenly, by the mid 1990s sales started slowing

What was happening in the market?

Coach Handbags a Case Study


More woman were entering the workforce They needed different types of bags for work They wanted designer brands, fuelling the mass luxury movement They wanted more colourful and stylish bags Prada, Gucci, Fendi and Chanel were responding to these trends selling bags at $1000 Coach was looking downright plain It was time for an extreme makeover

Where to Start?

Coach Handbags a Case Study


Coach began with market research Coach made consumer needs the focus of its overhaul strategy Eventually they would change the way professional woman shop for handbags WOMAN looked at handbags not as fashion statements but accessible luxuries WOMAN wanted to fill usage voids WOMAN took part in activities that range from weekends away, to clubbing, to shopping WOMAN wanted:
Weekend bags Evening bags Satchels

Clutches
Totes Briefcases

How to respond?

Coach Handbags a Case Study


Woman wanted more fashion in their handbags Coach designers used words such as sexy, fun, sophisticated, playful, grounded, luxurious, and quality driven to describe their customers They launched the Signature range They continue to identify more usage voids such as the wristlet They saw woman were growing more interested in non-leather bags Research showed that woman shopped mostly during the holiday periods. To fill both voids they launched Hamptons Weekend They believed woman are mixing formal clothing with casual clothes This suggested an opportunity to get woman to use formal accessories in the day, hence the Madison collection

How to remain relevant?

Coach Handbags a Case Study


EVERYTHING IS GIRLFRIEND TESTED It updates its collections every month now It introduces new colors, sizes and fabrics They price bags lower than luxury brands but high enough to be special Coach continues to watch their customers closely Coach continues to look for trends to fill They spend a whopping $ 3,000,000 p.a on research They interview 14,000 woman

BRIDGING THE GAP Meeting Consumer Expectations

To produce customer value and satisfaction you need good information on Which consumer wants and needs Category are You? Your also need information on competitors, resellers, and other forces in the marketing environment In todays age the issue is not more information but better information Many companies sit on rich information but dont manage it well Companies must design effective market information systems What is more : information must be turned into intelligence

Developing Marketing Internal Branding is Vital Information

The Marketing Information System (MIS)


Marketing Managers & Other Information Users Analysis Planning Implementation Control
MARKETING INFORMATION SYSTEM

Assess Info Needs

Develop Information
Internal Internal Database Database Info Analysis Analysis

Distribute Info

Marketing g research

Marketin research

Intelligenc

Marketing Environment Target Markets, Channels, Competitors, Publics, Macro forces

Internal Data

Electronic collections of consumer and market information Various Sources are used in the organisation: Financial Operation Marketing Customer Service Sales Channel partners Easy to access Information is normally incomplete for marketing decisions Maintaining data currency requires effort Data management is more difficult than one thinks

Some organisation make an art of it


Claim to have the largest customer database in the world 40 million households Phone, online, POS transactions @ 7500 outlets Slice data by favourite topping, ordered last, side orders Track commercials and response Targets coupons to specific customers based on data

Marketing Intelligence
Systematic collection and analysis of public information about competitors, and market place developments It is used to improve strategic decision making, track competitors, identify opportunities and threats To develop competitive intelligence many techniques available
Interviewing competitor employees / Job Posting Benchmarking Internet digging Trade show lurking Suppliers, resellers, key customers Annual reports, brochures, press, etc Databases (Patent Office, Customs, Trademarks, Specialist) Trash bin looting

Market Research
There are always gaps in both internal data & any market intelligence gathering activities Companies have specific information needs This means conducting formal studies to achieve specific information objectives Marketing Research is the systematic design, collection, analysis and reporting of data relevant to a specific market situation faced by the company and/or the brand

Define the problem and objectives


Managers & researchers must work closely Managers best understand the information needed Researches best understand how to obtain the information Market objectives are typically: Exploratory Research (help better define the problem) Descriptive Research (to describe specific market characteristics) Causal Research (to test validity of hypothesis)

Develop the Research Plan


Determine the exact information needed (translation) The plan for getting the information should outline: The problem, objectives The information to be obtained How the results will help Sources of existing information Research approaches Contact methods Sampling plans Instruments researches plan to use Costs A research plan is a written proposal Information could be secondary or primary Examples of specific information could be: Demographic, economic, and lifestyle characteristics Usage patters, buying behaviour Channel reactions

Implement Gathering Secondary Information


Researchers typically begin here Internal database is the starting point This is followed by external data sources Industry associations Government agencies Online databases Business publications News mediums Previous research This typically costs less primary data collection Need to determine how relevant, accurate, current, and impartial is the info. It remains a good starting point as it often helps define objectives clearer

Implement Gathering Primary Information


In most cases companies must collect primary data This info must be relevant, unbiased, accurate and current Several research approaches exist

Research Approaches Observation Surveys Experiments

Contact Methods Mail Telephone Personal Online

Sampling Plan Unit Size Procedure

Instruments Questionnaire Mechanical

Observation
Observing people, actions and situations Good for exploratory research Location for a retail store, might include competitions locales, traffic distributions, neighbourhood demographic Observation labs are commonly used where applicable (e.g. Huggies wipes) Observations have limitations Difficult to observe feelings, attitudes, and motives Difficult to observe long term behaviours Should be used with other research methods Ethnographic research involves embedding researches trained observers (Marriot)

Surveys
Most widely used method Method best used to acquire descriptive information (peoples knowledge, attitudes, preferences, buying behaviour) Flexible can be used to obtain different information in varying situations Problems include: Participant is unable to answer Participant is unwilling top answer Participant is worried about appearances Participant might resent intrusion

Experiments
Method best used to acquire causal information Select groups Apply different treatments Control unrelated factors Check differences in group responses Use Experiment to try and explain cause & effect

Contact Methods
Mail Flexibility Quantity that can be collected Control of interviews effects Control of sample Poor Good Excellent Telephone Good Fair Fair Personal Excellent Excellent Poor Online Good Good Fair

Fair

Excellent

Good

Excellent

Speed of collection
Response rate Cost

Poor
Fair Good

Excellent
Good Fair

Good
Good Poor

Excellent
Good Excellent

Sampling Plan
Sample Segment of the population selected for market research purposes to represent the whole Who to be surveyed (sampling unit) ? I.e what information is needed and who is likely to have it How many people should be surveyed (sample size) Larger the more accurate; but cost more and reliability difficult to ensure How should be people be chosen (sampling procedure) Simple random every member has equal chance of selection Stratified random population divided into groups before random sampling Convenience selecting the easiests member to obtain the information from Judgement Judgement is used by researcher to select the sample Quota Find and interview a prescribed number of people in several categories

Research Instruments
Choice between questionnaires and mechanical instruments Questionnaires Closed end questions include all the possible answers, and subjects make choices between them Open end questions allow respondents to answer in their own words Take care in wording (simple, direct, unbiased) Order questions to create interest first. Ask the more difficult questions later. Mechanical instruments People meters on televisions sets Checkout scanners Cameras to monitor eye movements

Research Instruments
Choice between questionnaires and mechanical instruments Questionnaires Closed end questions include all the possible answers, and subjects make choices between them Open end questions allow respondents to answer in their own words Take care in wording (simple, direct, unbiased) Order questions to create interest first. Ask the more difficult questions later. Mechanical instruments People meters on televisions sets Checkout scanners Cameras to monitor eye movements

Implementing the research


Putting the research plan into action Collection Expensive and most subject to error Researches must ensure correct implementation of the plan Guard and correct problems with respondents Processing Isolating important findings Check data accuracy and completeness Analysing Tabulate results and compute statistical measures

Interpret and report the findings


Drawn conclusions and report them to management Dont overwhelm managers report the important facts that are useful for taking decisions Interpretation is combined work between researcher and managers

Thank you