Mkt 450 exam 1
Market Orientation
Understanding the Market place
What comes first for marketing?
Understanding the market place
Generalize
-Attribute importance -perf. levels -satisfaction -improve what? -price -need segments
Interviewing probing
-D^2 -no biased questions -simple but not easy
Interviews
-Depth -preserve context (go where it happens) -solo activities -less bias -less moderator skill -easy set up -more time
Product/Service
-Feedback/opinion on fav or least fav part of product -broad to specific
D^2
Context, Process, Attribute importance, Perf. levels, satisfaction, improve
Info needed to drive strategy
Cust. context, Price sensitivity, cust. needs, preferred levels of performance
Qualitative interviewing
-Intro, Body (80%), closing -Intro- vague purpose, energy, ask
Things to say to interviewees
-Its Important! -you are the expert -top secret -will you help me?
Grand Tour
-Learn a process (step by step)
Keys to Success
-SUCCES -use verbatim quotes, quotes are evidence -Brief and deep understanding, D^2
Goal
-Where are they going? -What are they trying to accomplish
Focus groups
-breadth -violate context (conference room) -Group activities -more synergy -less time -diff to set up -more moderator skill
Presenting Qual Results
-campfire story -objective driven -data driven
Pres Zen Chapter 1
-clarity, simplicity -Keep It Simple Stupid
Pres Zen Chapter 2
-creativity -carelesss
Concept
-feedback on new idea -let them experience it
Interviewing Mindset
-find their agenda -flexibility -bring energy -get them talking
Reporting Results
-focus prezo around questions -open coding -==-tell story by key concepts -Axial coding ---- tell story by how key concepts are related
Rapport
-good first impression -warm up -get them energized
Context
-learn about background -"Tell me about growing up in..."
Wish List
-let them dream -free them up to think
What is qualitative research?
-long in depth convos -focus on meaning -watch and listen
Analyzing data
-look at each interview individually -look across interviews for commonalities
Presenting Results
-objective driven -weave facts together to make a story -rich in detail -think of your audience
Quantitative
-results generalize a population -surveys, graphs and charts
Qualitative (Focus Group)
-talk to people -observation is sometimes used -D^2 -not generalized to general pop
Improvement Priorities
...
Axial Coding Approaches
1. "Whats there approach" -who, what, where -relationships between concepts 2. "Framework Approach
Making sense of data process
1. Analyze each interview individually 2. look across interviews for commonalities
Research process
1. Clients objective 2. Pick right tool 3. Proposal- describe steps 4. collect data 5. analyze data
5 pillars of marketing
1. Develop mkt opportunity 2. Research mkt 3. segment mkt 4. develop mkt strategy 5. Implement Strategy
Qualitative questions order
1. Rapport 2. Context 3. Goal 4. Grand Tour 5. Concept 6. Wish List
Customer Context
surrounding life factors that influence behaviors
Do NOT..
tell story interview by interview
Qual. research methods
- in depth interviews -focus groups -observation
How many focus groups?
- 6-12 people - 4-6 focus groups
What is MKT research?
1. outcome is knowledge and info 2. focus groups/ interviews 3. surveys
2 Big lies of marketing
1. too much emphasis on 4Ps 2. All about demographics
Amount of time spent interviewing/focus groups
10-15 hours
How many interviews?
10-20 in depth interviews -patterns of redundency
order of research
1st quan. 2nd qualitative
Customer Needs
Benefits sought
Recruiting samples
D^2. -small # of people, hand selected Gen. - large # of random people
Axial Coding
Fit pieces together (Model Relationships)
Made to Stick
Heath Brothers -Simple -Unexpected -Concrete -Credible -Emotional -Story
Tri-angulation
Strengths of one, complement the weakness of the other
Pricing
What are they willing to pay?
Customer process
find buying process, how people make decisions
Open coding
find pieces of puzzle (Concept Analysis) -find common themes -concepts -ideas -topics
Need /based segments
groups of people that are alike by interest
Preference levels of Performance
how good is good?
Performance vs. competitors
how we compare