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The Market Research Industry

The Market Research Industry. September 21, 2009 Steve Koch University 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.

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The Market Research Industry

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  1. The Market Research Industry September 21, 2009 Steve Koch University of Houston

  2. Mattel Toys

  3. 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.

  4. Coca-Cola Foods Mattel Toys

  5. 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)

  6. Sega Video Games

  7. Pennzoil-Quaker State

  8. Marketing Research Industry Structure • 2 Buckets • Client and Supplier

  9. Marketing Research Profession Supplier Side Client Side Custom Syndicated Custom Syndicated • Traditional Custom • Specialized Custom • Copy Testing • STM’s • Packaging • B2B/B2C • Optimization • Omnibus • IRI • Nielsen • NPD • MRI

  10. Managing a Marketing Research Career

  11. Managing a Marketing Research Career What is your $Worth$? 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 room feel now?” Lower blood pressure? Lower heart rate? Safer? Relief? Are you accretive, dilutive, or insignificant?

  12. Managing a Marketing Research Career • Adopt (or refine) professional core values.

  13. Key Professional Core Values • Execute “Con Pasión.” • Integrity • Flexibility and versatility • Always listening, reading, and learning. • Be Accretive

  14. 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.

  15. 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!

  16. Managing a Marketing Research Career Flexibility and Versatility:

  17. Managing a Marketing Research Career Always Listening, Reading, and Learning:

  18. Managing a Marketing Research Career Be Accretive:

  19. 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

  20. What’s Hot Today in Marketing Research

  21. What’s Hot Today in Marketing Research 5 Things: • Ethnography • Web Analytics • Online Surveys • Online Groups • ROI

  22. 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

  23. 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

  24. 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.

  25. US online advertising spending, in billions of dollars Source: eMarketer, Sept, 2009

  26. US paid search advertising spending, 2004 – 2011 (in billions) Source: eMarketer, 2008, with IAB/PwC as baselines for 2001 – 2007

  27. What’s Hot Today in Marketing Research Web Analytics: • Immediate • Accessible • ROI enable – drives business performance. • Addresses growth industry.

  28. ROI There goes another CMO. I still have time. 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

  29. ROI Next! Source: Anderson Analytics

  30. #1 challenge facing marketing chiefs is “Quantifying & measuring the value of marketing programs.” CMO Council ROI

  31. 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

  32. Sources • www.marketingpower.com • www.quirks.com

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