TOOLS TO EXPLORE MARKET & CONSUMERS - MARKET RESEARCH -

RESEARCH

By target audience

Market research

Consumer research

Competitor research

By methodological

approach

Qualitative

Quantitative

By type of data collection

Secondary

Primary

By objective & design

Exploratory

Descriptive

Causal

PRE - LAUNCH

Problem definition

Self-evaluation

Prototype construction

Test marketing

Revision

RESEARCH IT’S A NEVER-ENDING STORY

Period Type of research Purpose

Problem definition

- Market research: Current market information; Market size & segmentation; Market trends - Consumer research: Demographics (age, gender..); Social and lifestyle trends; Needs and expectations; Purchasing behavior; Attitudes towards current products, our company & competitors - Competitor research: Current turnover & market share; Products, price, distribution; Branding, marketing activities

+ Deep understand about the current situation + Provide information needed for decision making Identify the problem & seek solution

Self – evaluation

- Internal research (current sales, economic potential, recent innovation from R&D department) - Concept testing

+ Product: ultimately profitable?

+ Company: go with the business?

+ Target consumer: accept?

Determine possible solution

Prototype model

construction

Consumer research: Consumer reaction

+ Product: need any change? + Company: Can produce? + Target consumer: satisfy? Evaluate the solution

Test marketing Market and consumer research on the whole marketing plan in the real setting: price, communication message, execution…

The whole plan will work effectively? Plan for the next step

Revision

Market and consumer research: OK launching Not OK trying out another prototype model going on with the process until coming to a fine result.

Turn into mass commercialization or not Improve the solution

PRE - LAUNCH

Period Type of research Purpose

Growth Market research: Market share Consumer research: Consumer attitude

- Evaluate how the development is - Improve consumer’s interest

Maturity Market research: Market size Market share

Consumer research: Consumer purchasing behavior Consumer attitude

Competitor research: Competitor market share & strategy

- Evaluate the current situation - Find ways to trigger the consumption

Decline Market research: Market size & share Market trend

Consumer research: Consumer purchasing behavior Consumer attitude & trend

Competitor research: Competitor market share & strategy

- Continue or not? - Determine possible solution

Example: STORY OF iPHONE iPod in 2005 was at peak but Steve Jobs soon realized a problem & a threat: cellphone. They foresaw that iPod would die and when that happened, Apple could not react fast enough, so Apple decided to make a iPod Killer. By that they focused on making a new product later known as iPhone. They started to research what they could do to make cellphone really work. They came up with 2 solutions and decided to test on both. Since they made the first concept of iPhone, they’ve made many tests to adjust.

PRODUCT LIFE CYCLE

SECTION PURPOSE SAMPLE: NUTRIBOOST LAUNCH

1. BACKGROUND

A brief description of the business: - An outline of what we are seeking: the business problem, why requiring research? Who in the department will use the result? - Outline of any existing research which may be useful? - Explanation of unusual or specific issues agency should be aware.

Test reaction of customers to new flavor of Nutriboost, MKT team will use it as testimonials and prepare MKT Plan; Nutriboost has been perceived stamina; Vision in 5 years to be daily source of nutrition of Vnese; …

2. BUSINESS

AND RESEARCH OBJECTIVES

- What are the key problems of your business? - How the research be relevant or support to that objective? - What aspects of business market needed to be investigate?

Consumer perceive milk and juice is bad and not delicious; confused about Nutri &

cola/energy drink; occasions lo leverage; was the taste good enough and is it different?

3. TARGET

AUDIENCE

Who do you want to talk to? Who are the audiences? - How the company define the T.A: size, characteristics… - Source of contact: company provide database / the agency’s free to do.

Male (70%) – female (30%), aged 18-24 (70%) and 25-35 (30%), urban city, SEC ABC, agency

proposed the source of contact.

RESEARCH BRIEF

SECTION PURPOSE SAMPLE: NUTRIBOOST LAUNCH

4. APPROACH

- Does the information need to be quantified? - Size of target audience, is statistical analysis required? - Is it more on exploring issues or a more open-ended basis? - How the findings to be used?

Blind test for taste may be good A Tracking tool to test the trials rate after

sampling Collect testimonials and trial rate to

define the MKT approach

5. DELIVERABLES

Specify required deliverables. E.g, a full report or summary report

Full detail of reports with number and testimonials (clips and photos are

preferred)

6. TIMING-BUDGET

Based on (a) the scale of the exercise and (b) type of data collection

Time: 3 months during the sampling – 2 weeks for report

Budget: 25,000USD

7. CONTACT Just to keep contact between client and the agency

RESEARCH BRIEF

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