Marketing Research Ninth Edition, Global Edition PDF

Marketing Research Ninth Edition, Global Edition Chapter 2 The Marketing Research Industry S...

Marketing Research Ninth Edition, Global Edition Chapter 2 The Marketing Research Industry Slides in this presentation contain hyperlinks. JAWS users should be able to get a list of links by using INSERT+F7 Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Learning Objectives In this chapter you will learn 2.1 A brief history of the marketing research industry 2.2 The different types of marketing research firms 2.3 The industry structure of marketing research 2.4 New challenges to the marketing research industry 2.5 Industry initiatives for self-improvement 2.6 Areas of ethical sensitivity in the marketing research process 2.7 How to investigate careers in the marketing research industry Copyright © 2020 Pearson Education Ltd. All Rights Reserved. History: Earliest Known Studies Charles Coolidge Parlin is known as the “father of marketing research.” Parlin conducted the first continuous marketing research in the early 1900s for the Curtis Publishing Company. The purpose of Parlin’s research was to increase advertising for Saturday Evening Post magazine. Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Growth of Marketing Research (1 of 2) 1930’s – marketing research becomes widespread as markets became geographically diverse and colleges began to teach courses in marketing research 1940’s – statistical sampling (Alfred Politz) and focus groups (Robert Merton) introduced 1950’s – computers introduced 1960’s – marketing research seen as indispensable to track consumption in widespread markets 1970’s – automation of data analysis Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Growth of Marketing Research (2 of 2) 1980’s – personal computers led to improvement of data analysis 1990’s – increased globalization led to major changes in the marketing research industry including consolidation 2000’s – new technologies (such as mobile device use) spur innovations Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Who Conducts Marketing Research? (1 of 2) Client-side research: organizations that supply their own marketing research information. – Internal suppliers: Formal departments or individuals conduct research internally. – DYI research: facilitated by Internet, firms have access to secondary data, online survey platforms and better knowledge of data analysis software such as SPSS. Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Who Conducts Marketing Research? (2 of 2) Supply-side research: External suppliers hired to fulfill a company’s marketing research needs. – Supplier or agency: firm specializing in marketing research that offers its services to buyers needing information to make more informed decisions. Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Table 2.1 The Top 10 Global Marketing Research Firms Rank Company Headquarters Website Employees Global Revenues 1 Nielsen Holdings New York Nielsen.com 43,000 $6,309,000,000 N.V. 2 Kantar London Kantar.com 30,000 $3,384,700,000 3 IQVIA Danbury, CT iqvia.com 27,000 $3,301,000,000 4 Ipsos SA Paris Ipsos.com 16,600 $1,962,000,000 5 GfK SE Nuremberg gfk.com 13,069 $1,677,000,000 6 IRI Chicago iriworldwide.com 5,032 $631,400,000 7 Westat Inc. Rockville, MD westat.com 1,921 $500,700,000 8 Wood MacKenzie Edinburgh woodmac.com 1,300 $582,500,000 9 Intage Group Tokyo intage.co.jp 2,431 $410,100,000 10 dunnhumby Hammersmith dunnhumby.com 3,124 $300,000,000 Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Industry Structure Types of firms and their specialties – Full-service supplier firms: have the capability to conduct the entire marketing research project for buyer firms. – Limited-service supplier firms: specialize in one or, at most, a few marketing research activities. Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Table 2.2 Major Types of Marketing Research Services (1 of 2) Type Description Example Firms Syndicated Data Analyze the trends and consumer Nielsen, IRI, YouGov, Intage Services behavior within an industry and sell to many companies Packaged Services Use a proprietary process to conduct a GfK, Video Research LTD, Burke, service such as test marketing or Inc. measuring customer or employee satisfaction Online Research Provide client services associated with Comscore, Inc., Harris Interactive, Specialists measuring online consumer behavior Knowledge Networks, Toluna, and measurement or online data FocusVision Collection Customized Provide services customized to All of the major firms can do this. Services individual clients’ needs Some examples include Burke, Inc., Kantar, Ipsos SA, Maritz Industry or Market Specialize in a particular industry or a IMS Health, Inc., Westat Inc., Latin Segment market segment Facts, Inc., Olson Research Group, Specialists Inc., Focus Latino Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Table 2.2 Major Types of Marketing Research Services (2 of 2) Technique Specialty Type Description Example Firms a. Qualitative Conduct research using methods such as focus Abt Associates, Gongos, Just the groups, interviews, and shopping with consumers Facts b. Mobile Research Conduct research using mobile devices such as Kinesis Survey Technologies, Cint, iPads or smartphones P2Sample c. Sampling Use different sampling methods to draw samples to SSI, uSamp, Research Now, Ipsos, suit client’s research objectives NPD d. Neuromarketing Observe brain activity as consumers are exposed Ipsos, Nielsen Consumer to stimuli such as packages or ads Neuroscience, Sands e. Market Segmentation Determine firms’ target markets, locate these ESRI, Nielsen Claritas consumers, and determine other characteristics of these consumers, such as media habits f. Social Media Monitor for relevant buzz over social media and Decooda, Conversition, Meltwater, Monitoring attach meaning for companies and their brands g. Field Services Collect data using a variety of methods: telephone, Readex Research, I/H/R Research online, person to person, mall intercept Group, Focus Market Research, Irwin, Fieldwork, Schlesinger Associates h. Marketing Research Create and host marketing research online Decision Analyst, Psyma, My-Take, Online Communities communities incling Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Industry Performance: Industry Revenues and Profits ESOMAR estimates worldwide revenues for the marketing research industry at $44 billion. Top 25 firms generated more than $22 billion. The largest marketing research companies (led by Nielsen) are truly international. Revenues vary around the world. Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Challenges Facing Marketing Research Need to incorporate innovative and evolving sources of data and methodologies Need for the effective communication of results Need for talented and skilled employees Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Industry Initiatives Best practices Maintaining public credibility of research Monitoring industry trends Improving ethical conduct Copyright © 2020 Pearson Education Ltd. All Rights Reserved. Improving Ethical Conduct Industry standards and ethics Certification of qualified professionals Continuing education Copyright © 2020 Pearson Education Ltd. All Rights Reserved.