“In God We Trust – All Others Must Bring Data” ~ W. Edwards Deming Market Research Data & Statistics

1. “In God We Trust – All Others Must Bring Data”~ W. Edwards Deming Market Research Data & Statistics Sunny Kaniyathu University of Saskatchewan Gilbert Bede Okanagan College Accoleds 2012 University of Manitoba

2. Today’s Programme • Learning to Like Market Research Questions • Environmental Scan • Who Is The User Base • Quantitative Methods Skill Set • A Changing Environment / Opportunities / Trends • What are Patrons Typically Looking For? • The Role of the Reference Interview & Selecting the Proper Resources • Fee-based Data • Small Group Exercise • Market for Energy Drinks in Canada • Report/Discussion on Group Exercise Accoleds 2012 University of Manitoba

3. When Faced with Locating Data & Statistics for a Marketing Question You • Scream like a small child and run away • Go into a catatonic state and remain like that until the patron leaves • Quickly look up the contact info for your business liaison librarian and provide it to the patron • Regain your composure and proceed with the query Accoleds 2012 University of Manitoba

4. “For years, corporate marketers have walked into budget meetings like neighborhood junkies. They couldn’t justify how well they spent past handouts or what difference it all made. They just want more money – for flashy TV ads, for big-ticket events, for you know, getting out the message and building up the brand. But those days of blind budget increases are fast being replaced with a new mantra: measurement and accountability.” From - Marketing metrics: 50+ metrics every executive should master (Farris 2006) Accoleds 2012 University of Manitoba

5. Environmental ScanWho Are The Potential Users? • 3 main user groups coming primarily from Business, Economics and Communications disciplines: • Faculty and Researchers (Historical Users seeking Primary and Secondary data sources) • Graduate Students (Historical Users seeking Primary and Secondary sources) • Undergraduate Students (Relatively new group seeking primarily secondary data sources – although they usually start off by asking for primary data sources) • New users from Management Information Systems & Business Intelligence programs Accoleds 2012 University of Manitoba

6. Environmental ScanUndergraduates • The majority of undergraduates taking marketing courses are now required to take at least one ‘quantitative methods’ course • As a rule these students have limited backgrounds in: • Mathematics, Statistics and Research Methods • Most went into Marketing because they possessed the requisitecreativityskill set (Denny 2007) Accoleds 2012 University of Manitoba

7. Accoleds 2012 University of Manitoba

8. Environmental Scan Undergraduates • Many students are apprehensive about taking quantitative methods courses • Often display considerable skepticism about the value and general applicability of such techniques to ‘real world marketing problems’ • ‘why do we have to take these courses because we will never use them’ Accoleds 2012 University of Manitoba

9. Environmental ScanSo Has It Worked? “Mathematical fluency and the ability to use and understand marketing metrics are critical proficiencies for marketing professionals…Unfortunately pedagogical studies show that the development of these analytical skills have not been adequately addressed by undergraduate marketing education curricula” “Between 2007 and 2009 we completed surveys of undergraduate business students (n = 922) and qualitative interviews with selected senior marketing practitioners and program graduates (n = 28)…the student survey showed no significant improvements in numeracy or financial skills between first – and fourth-year students and the qualitative results strongly validated the need for further development in this area” (Saber 2011) Accoleds 2012 University of Manitoba

10. Environmental ScanWhat Are The Professionals Saying? • Professionals in the field have identified what they term a ‘under preparedness gap’ in new Marketing Grads • They ranked possessing quantitative skills 5th out of 11 skills that graduating student need to possess in order to be successful in the field • Yet they ranked graduating students ability in this area 10th out of 11 areas measured Accoleds 2012 University of Manitoba

11. Environmental ScanPrimary vs. Secondary Sources • Marketing students tend to prefer to use secondary statistical data to primary data • They do learn about survey research techniques and methodologies • They typically look for very granulized, often localized, data and statistics • Marketing professionals have historically exhibited many of the same traits • They tend to outsource such activities to third parties such as survey search companies • Syndicated research companies Accoleds 2012 University of Manitoba

12. http://www.picturesoftheplanet.com/animals/grizzly-bear-pictures/grizzly-bear-close-up.jpg.php#.ULda9K5vCSohttp://www.picturesoftheplanet.com/animals/grizzly-bear-pictures/grizzly-bear-close-up.jpg.php#.ULda9K5vCSo Accoleds 2012 University of Manitoba

13. The Times They Are A Changing Accoleds 2012 University of Manitoba

14. Being Good With Data and Statistics Is Sexy Accoleds 2012 University of Manitoba

15. An Emerging Group of Power Users Students and Faculty From Business Intelligence, Market Intelligence or Competitive Intelligence sub-disciplines Accoleds 2012 University of Manitoba

16. Characteristics • Strong knowledge / skill set in Data Mining • High powered data extraction tools • SQL • Analyzing large data sets is a regular everyday thing to them • Confident and comfortable the use of quantitative and qualitative research methods • Strong Information Communications Technology (ICT) skill set • Growing demand for persons with this skill set in the marketplace Accoleds 2012 University of Manitoba

17. Okanagan School of BusinessOkanagan College • New 1-year Diploma Program that will include a substantial amount of Quantitative Research Methods as part of its curriculum • One of the groups they plan on targeting are students coming out of programs where they have already been exposed to quantitative research methods Accoleds 2012 University of Manitoba

18. The Market Profession is Addressing the Lack of Quantitative Skills • There now exists an official professional designation backed by a curriculum for market research professionals • CMRP (Certified Marketing Research Professional) or PARM (Professionnelagréé en recherche marketing) issued by Marketing Research and Intelligence Association (MRIA) Accoleds 2012 University of Manitoba

19. Big Opportunity • Wixom and Ariyachandra at the State of Business Intelligence in Academic 2010, BI Congress II, identified that biggest challenge in Teaching BI was Access to Data Sets • This sentiment was express by 95% of faculty from 173 different institutions that were surveyed • Finding Suitable Case Studies was number 2 • Finding Suitable Textbooks was number 3 Accoleds 2012 University of Manitoba

20. Trends • Quantitative Trendspotting • Web analytics • Techniques for measuring and analyzing web activity • Google Trends • Search Market Analytics • MarketingSherpa • Search Engine Marketing (SEM) • It all in knowing the right keywords Accoleds 2012 University of Manitoba

21. Partner with your Business Librarians and Faculty MembersSell, Sell, Sell Accoleds 2012 University of Manitoba

22. So What Does The Typical Marketing Query Look Like? Accoleds 2012 University of Manitoba

23. The Four Ps • Product • Price • Place • Promotion Accoleds 2012 University of Manitoba

24. Typical 4P Type Questions • Who are the potential customers? • What are their demographics characteristics (income, educational level, social, etc.) attitudes, concerns? • Referred to in the profession as Segmentation • What products appeal to customers? • Market niches. • What product characteristics appeal to customers? • What changes to existing products are customers seeking? • When Is the best time to sell a product? • Is product’s appeal seasonal in nature? • Is there a day of the week or time of that the product will be most appealing? Accoleds 2012 University of Manitoba

25. Typical 4P Type Questions • Where do potential customers purchase such products? • What are the products distribution channels? • Should the product be solid directly to customers, online, through retail outlets, specialty stores, etc.? • What product promotional channels (outlets) be used to reach customers? • Television, Radio, Print, Online, etc. Accoleds 2012 University of Manitoba

26. Typical 4P Type Questions • How do I differentiate my products from other products in the marketplace? • How to do I create a demand for my product? • How do I measure the impact of my program? • Metrics Accoleds 2012 University of Manitoba

27. Other Types of Questions/Information that Relate to 4P Type Questions • Economic • Labour & Wages • Finance & Investment • Transportation • Taxation • Import & Export • Manufacturing • Environmental, Health & Safety • Trade Associations • International Accoleds 2012 University of Manitoba

28. 123

29. References Aggarwal, P., Vaidyanathan, R. and Rochford, L. (2007). The wretched refuse of a teeming shore? A critical examination of the quality of undergraduate marketing students. Journal of Marketing Education, 29(3), 223-233. doi:10.1177/0273475307306888 Chiu, S. and Tavella, D. (2008). Data Mining and market intelligence for optimal marketing returns. Amsterdam: Butterworth-Heinemann. Denny, E. M., Janice, M. P., Reardon, J., & Nathan, D. K. (2007). Perceptions and reality: Creativity in the marketing classroom. Journal of Marketing Education, 29(3), 254-261. doi: 10.1177/0273475307306892 Farris, P., Bendle, P. Pfeifer, P. and Reibstein, D. (2006). Marketing metrics: 50+ metrics every executive should master. Wharton School Publishing, Upper Saddle River, New Jersey. Saber, J. and Foster, M. (2011). The agony and the ecstasy: marketing metrics to undergraduate business students. Marketing Education Review. 21, 9-20. doi:10.2753/MER 105-8008210102 Wixom, B. H. and Ariyachandra T. (2011). State of business intelligence in academia 2010. Presented at BI Congress II. Retrieved from http://www2.commerce.virginia.edu/bic3/content/2010-State-of-BI-Report.pdf Accoleds 2012 University of Manitoba

30. ACCOLEDS Final Jeopardy CategoryMarketing Data Energy Drinks Accoleds 2012 University of Manitoba

31. Discussion Accoleds 2012 University of Manitoba