Market Research

Purpose

Produce for examination, evidence about marketing subjects which can be used in the acceptance or rejection of performed hypothesis.

Performed Hypothesis

The value of market research - for support rather than illumination but research is too often commissioned as an excuse to avoid serious thinking.

Golden Rules

• Define as clearly as possible what hypothesis you wish to have validated or disproved.
• Define in advance of the results, the yardstick by which you will decide your hypothesis proved or disproved.
• Define, again in advance, what action you will take if your hypothesis are proved or disproved. Note: quite often as a result of this excercise the marketing manager realises research is unessessary.

Marketing Subjects

All elements of the marketing mix.

Production of evidence

All market research can do is collect evidence and advise on the statistical validity of that evidence.

Scope

Is as broad as marketing itself.

Types of Research

• Group discussions - 1st stage techniques
• In hall testing - popular - vehicle for testing consumer response to product change. Often paired with competitive product
• Panels - used for a series of measures at pre-determined intervals of time eg Nielsen, agb, diary panel, dustbin panel, etc.
• Attititude survey - Attitudes change extremely slowly, correlation between change in attitide and buying patterns difficult to establish, are blunt rather than precision instruments.
• Store tests - A reasonably reliable means of measuring impact on consumer purchases of a change in one element of the marketing mix eg pack but more commonly price.