Science 6

Marketing Research Notes

Chapter 5

CONCEPT TESTING

* Written statement

* A drawing

* Liking?

* Interest?

* Intention-to-buy?

* Advertising copy?

* Brand image?

* Brand name?

* Price?

Advantages of focus groups

* Can generate new products ideals quickly

* New products ideas

* New uses of existing products

Disadvantages of focus groups

+ THE RSULT WILL NOT REPRESENT THE TARGET MARKET (SMALL SAMPLE SIZE PROBLEM)

Chapter 6

Two typical objectives for secondary data

1. Fact-finding

&&What is the size of our target market in these zip codes?

&& Who is buying our products?

Age

Gender

Income

Education

Zip code

&& Which of our customers are the most profitable?

&& Which customers are new to our company over the past year?

&& How does St. Louis County or St. Louis City compare to the state of Missouri in important buying characteristics?

2. Trend analysis

&& How is the industry volume changing for our key products?

--Example – For smart phones, Blackberry has a 40% market share and Apple’s iPhone has a 20% market share, but the other smart phones are fading fast in unit sales because they have so few applications software

&& How has US birthrate changed over the past 70 years?

&& How has US household income changed over the past 50 years?

2 Types of secondary data

Internal data (within the company)

a. Accounting department

b. Sales involves

c. Product line sales data

d. Back-orders 缺货

e. Customers complaints (Customer complaints are valuable data)

f. Warranty card information

External Data (outside of the company)

* Library articles

* US Government

* Trade Associations

* Encyclopedia of associations

* Burke Marketing Research (day-after recall)

Advantages of secondary data

*Lower cost than primary data

*Faster to collect than primary...