Types of Marketing Research Services (1 of 2)

Research Methods in Marketing

• Neuro-marketing involves observing brain activity as consumers are exposed to stimuli like packages or ads.
• Online communities are created and hosted for marketing research to gather insights from participants directly.
• Mixed-method research gathers data through multiple channels such as telephone, online platforms, in-person interviews, and mall intercepts.

Purpose of Market Segmentation and Monitoring

• Market Segmentation aims to divide a market into distinct groups of buyers to tailor strategies according to specific consumer needs.
• Social Media Monitoring is used to track and analyze conversations and trends on social media platforms to inform marketing strategies.

Marketing Research Industry Insights

• The estimated worldwide revenue for the marketing research industry reaches billions annually.
• Nielsen is recognized as the leading international marketing research company.
• Charles Coolidge Parlin is celebrated as the 'father of marketing research.'

Historical Context of Marketing Research

• Parlin’s research sought to understand consumer behavior and improve product offerings.
• The 1980s marked a time when marketing research became essential for tracking consumer trends in expansive markets.
• The introduction of computers to marketing research occurred in the 1960s.
• The 1970s witnessed the automation of data analysis in the field.
• Personal computers in the 1980s greatly enhanced data analysis capabilities.
• The 1990s were influenced by significant events that led to consolidation within the marketing research industry.

Client-Side and Supplier Research

• Client-side research is conducted by organizations interested in understanding their own markets.
• Internal suppliers focus on fulfilling the specific needs of their organization when conducting marketing research.

DIY Research and Internet Impact

• The Internet facilitates DIY research by providing access to tools and data collection methods, empowering individuals to conduct research without extensive resources.
• Survey-based methods are commonly used in DIY research facilitated by the Internet.

Major Global Firms and Services

• Kantar holds the title of the global marketing research firm with the highest number of employees.
• The primary service offered by a supplier or agency in marketing research is data analysis and insight generation.

Roles of Suppliers in Marketing Research

• External suppliers play a key role in conducting research for clients and delivering actionable insights.
• Supplier firms that focus on clients’ needs and behaviors are important for comprehensive data collection.
• Technique Specialty Type 'Qualitative' centers on gathering in-depth subjective insights rather than numerical data.

Specialized Services in Marketing Research

• Services utilizing a proprietary process include offerings like test marketing and satisfaction measurement.
• The Industry or Market Segment Specialists focus on analyzing trends and consumer behaviors within specific industries for multiple clients.
• Customized Services tailor research methodologies specifically to fit the unique requirements of clients.

Characteristics of Supplier Firms

• Full-service supplier firms provide a broad range of research and consulting services, differentiating them from limited-service suppliers, which focus on specific areas.
• Common characteristics of full-service firms include comprehensive offerings and the ability to handle various aspects of marketing research.
• Limited-service supplier firms specialize in specific types of research, such as data collection or analysis, and may not offer a full suite of services.