The Market Research Industry

September 21, 2009Steve KochUniversity of Houston

Mattel Toys

Mattel Toys

2 Departments Sales Research Consumer Research

Consumer Research: A, A&U (Category Studies), A&A Tracking Studies, Focus Groups, STM’s, Copy Testing.

Coca-Cola Foods

Mattel Toys

Coca-Cola Foods

Marketing Research & Sales Analysis Departments.

STM’s, Product Optimization (RSM, etc.), Copy Testing, Taste Tests (point-in-time and tracking), Focus Groups, CST’s (Pricing, Display/Promotion)

Sega Video Games

Pennzoil-Quaker State

Marketing Research Industry Structure 2 Buckets

Client and Supplier

Marketing Research Profession

Client SideSupplier Side

Custom Syndicated SyndicatedCustom

•Traditional Custom•Specialized Custom• Copy Testing• STM’s• Packaging• B2B/B2C• Optimization• Omnibus

•IRI•Nielsen•NPD•MRI

Managing a Marketing Research Career

Managing a Marketing Research Career

When you unexpectedly walk into a management meeting where business decisions are being made and sit down at the table, what has changed in the room?

Ask yourself “How do the leaders in the roomfeel now?”

Lower blood pressure? Lower heart rate? Safer? Relief?

Are you accretive, dilutive, or insignificant?

What is your $Worth$?

Managing a Marketing Research Career

Adopt (or refine) professional core values.

Key Professional Core Values

•Execute “Con Pasión.”•Integrity

•Flexibility and versatility•Always listening, reading, and learning.

•Be Accretive

Managing a Marketing Research Career

Passion: After the cover charge, I’ll hire passion. Sincerity and commitment to your profession and what you do

every day. If it’s worth doing, it’s worth doing right.

Managing a Marketing Research Career

Integrity: Fundamental for a marketing researcher. If you never say “I don’t know,” then I say “I can’t trust you.” Resist influence. Do what you say you’ll do!

Managing a Marketing Research Career

Flexibility and Versatility:

Managing a Marketing Research Career

Always Listening, Reading, and Learning:

Managing a Marketing Research Career

Be Accretive:

So What’s the Point?

In the end, of course, what's most important about choosing your next leadership role is that it enables you to be passionate about connecting what you do and how it drives the business.

So choose wisely.

Jerry Noonan, Spencer Stuart, ex-CMO, 1800Flowers.com

What’s Hot Today in Marketing Research

What’s Hot Today in Marketing Research

5 Things: Ethnography Web Analytics Online Surveys Online Groups ROI

What’s Hot Today in Marketing Research

Ethnography

AMA Definition: A detailed, descriptive study of a group and its behavior, characteristics, culture, etc.

Bedroom research Driveway research Kitchen research Living Room research

What’s Hot Today in Marketing Research

Ethnography is the study of culture. Not

individuals (psychology) or populations

(demography) or nations

(politics/history) or trends (cool-hunting).

Alison Demos, Ogilvy & Mather, NY

What’s Hot Today in Marketing Research

Ethnography: It’s accessible. It’s very descriptive. It’s very rich and colorful. It takes the abstraction out of findings.

US online advertising spending, in billions of dollars

Source: eMarketer, Sept, 2009

US paid search advertising spending, 2004 – 2011 (in billions)

$3.9 $5.1$6.8

$8.6

$11.0$12.9

$14.9$16.6

$0

$5

$10

$15

$20

2004 2005 2006 2007 2008 2009 2010 2011

Source: eMarketer, 2008, with IAB/PwC as baselines for 2001 – 2007

What’s Hot Today in Marketing Research

Web Analytics: Immediate Accessible ROI enable – drives business performance. Addresses growth industry.

ROI

Chief marketing officers have a shorter average

tenure than NFL coaches. In fact, they barely get

beyond two years before they are gone.

Jack Trout, Trout and Partners

There goes another CMO. I still have time.

ROI

Source: Anderson Analytics

Next!

ROI#1 challenge

facing marketing chiefs is

“Quantifying & measuring the

value of marketing programs.”

CMO Council

ROI

If you’re a balanced scorecard company, or if your client is, find ways to help monitor and improve those metrics.

Track Experiment Pricing Mix Modeling

Sources

www.marketingpower.com www.quirks.com