12.- Marketing Research, Part 2

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Del curso dictado por IESE Business School

Marketing: Customer Needs and Wants

167 calificaciones

IESE Business School

Marketing: Customer Needs and Wants

167 calificaciones

Curso 3 de 5 en SpecializationFoundations of Management

Understanding who your customers are and what they need and want is at the heart of successful marketing strategies. In this course you will explore how to identify and classify customers and the different methods that marketing professionals use to shed light on how they make purchase decisions. The course will cover the following: 1. Marketing Fundamentals 2. Product, Pricing and Channel Decisions 3. Building Strong Brands 4. Communication Strategy

De la lección

Course Overview & Week 1

Welcome! Before you start today's videos, please have a look at the syllabus. In this first session, I'll give you an overview of what marketing is all about and why it's key to communicating a company’s value proposition. You’ll also get a grasp of marketing essentials, particularly how to frame challenges and what to think about when making decisions. Objectives: To gain insight into the basic pillars of marketing.

1.- Course Outline2:15

2.- Week 1 Overview3:51

3.- Framing Marketing Challenges, Part 14:45

4.- Framing Marketing Challenges, Part 26:30

5.- The Marketing Process, Part 16:29

6.- The Marketing Process, Part 24:47

7.- Segmentation, Part 14:40

8.- Segmentation, Part 23:55

9.- Segmentation Part 35:40

10.- Segmentation Part 42:55

11.- Marketing Research, Part 17:36

12.- Marketing Research, Part 25:37

13.- Marketing Research, Part 34:04

14.- Targeting and Positioning, Part 16:18

15.- Targeting and Positioning, Part 25:28

Conoce a los instructores

Mario Capizzani
Lecturer
Marketing

[MUSIC]

I have just finished covering the first three steps of the marketing research

process and I know what you must be thinking.

You must be thinking, wow, so many methods, so many ways to go wrong.

This is really confusing, which methods should I be using when?

Don't worry about it.

In this next slide, you will see that I have classified

the different methodologies and some of the methods within,

in a structure that is very simple and it hopefully makes sense for you.

So here it is, one way to look

at what methods to use when is to simply ask two very important questions.

The first one is does a researcher know the question that he or she wants to ask?

If the answer is yes, you're in the problem solving domain.

If the answer is no, you're likely in the problem identification domain.

The other critical question is whether the respondent knows the answer.

And even then, even if the answer is yes, you might subsequently want to ask,

will she actually reveal the true answer.

Such as in the case, for

example, of the likelihood of recycling that I had just mentioned before.

With these two very simple questions, you can see you're able to qualify or

place the different descriptive, causal, and exploratory research methods

in a simple framework, that will hopefully help you sort out through the problems.

This matrix is not meant to be comprehensive.

Within each one of these methods, I have only listed the most often or

most commonly used, such as surveys, in-depth interviews,

focus groups, observational methods and experiments or AB testing.

This takes more refer to in a web context and access to a secondary research,

either from internal company owned customer base or

external providers such as etc..

So for the first example, let's go back to our by now famous and

well known Santander Serfin example.

What methodology did they use to finally come up with a meaningful segmentation and

decide on a product to launch for its specific segments?

How do they go about it?

First of all, they use secondary data to try to determine

what is the actual country's growth potential and

to come up with an actual real objective for what we should set ourselves.

Remember it was 730,000 cards in the next year and a half.

Next they conducted focus groups to try to

determine what are the main impediments to credit card adoptions.

In other words, why were there only 5.5 million cards

when they had qualified up to 14.5 million customers.

And what they found out is that refusal to reveal the income was the main impediment.

So they concluded that they need to make the process of signing up for

a credit card very quick and speedy.

In addition, focus groups reveals what were the attitudes

of consumers to different service providers.

Next, they used their own customer data to understand patterns

of use for the different credit cards, and

to establish the different demographic profiles.

And finally they did a survey of 2100 consumers and non-consumers of the bank

to determine what are the most important attributes of credit card providers.

And to also validate other potential action variables

which could serve as a source of segmentation.

The key take away that you should take from this slide is that

one thing is clear, a combination of methods and

methodologies is the best way to tackle a meaningful marketing research problem.

Now let's look at another example from a complete different setting.

Let's take the case, for example, of Procter and Gamble.

They had come up with this electric floor mop and they were thinking about

launching this product in Europe, and in particular in Italy.

Now what kind of research will you have done first to try to

determine what is the best region of the country to first introduce this product?

You may have guessed right, they may have done an observational sort of

research method to try to determine what part of the country the women actually

scrub and mop their floors more vigorously or spend more time doing this activity.

They did that and as it turns out they found out that it was in the south of

Italy where women spent more hours of the day dedicated to this particular activity.

Next, they decided to do some focus groups and

a couple of interviews with some of these women, Italian women in the south.

But by actually conducting the focus groups as opposed to validating the south

of Italy as the prime target to launch this product, what they found out is that

in this woman's mind, vigorous mobbing the floor and scrubbing, actually

is associated with love for the family and the harder they do it, in their minds,

the more they actually sacrifice and love the families.

This single insight, led Procter and

Gamble to scrap the project of launching the product in Italy.

[MUSIC]

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