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Unit 1.1.1 - Marketing Management - Lecture - The.10 - Steps.of.Successful.Marketing.Research - Prof. D. Dervel, Lecture notes of Marketing Management

In this document topics covered which are Elaborate your marketing plan, Have a Vision, Get an Overview, Explore,Refine, Link.

Typology: Lecture notes

2010/2011

Uploaded on 09/10/2011

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© 2007 Derval Research Page 1/3
The 10-Steps of
Successful Marketing Research
January 7, 2008 by Prof. Diana Derval
Let me reveal you the secrets of successful marketing research - in 10 steps:
1. Have a Vision: conduct a marketing research to confirm a vision you have. For
instance "I believe that consumers are more receptive to advertising while they are
waiting". If you notice a lack of vision, make first a preliminary research (have a look
at the internet, magazines) to get inspired and informed on a topic and then (but
then only!) interview one or two experts with very open questions (let them talk, they
know what is important).
2. Get an Overview: I invite you to use a visual search engine such as
www.kartoo.com in order to get all the important links on your topic, for instance
"receptivity to advertising" in a nutshell. Try it! You will become addicted to this tool
3. Explore: Have a look at the most relevant websites (they can lead you to a book, an
article, a company). Be open to new visions (even if you already have your idea) in
order not to ignore "unconsciously" results that do not fit with your vision. Instead of
that, be ready to adapt your vision: that's the purpose of the research! For instance
when you discover that "a TV commercial is memorized by 17% of the consumers
exposed at home and 27% of the consumers exposed in the doctor's waiting room"
you realize that the vision is that when consumers are receptive, which is particularly
the case when they are waiting, they better memorize messages. 1
4. Refine: you can now make some more systematic research in order to make sure
you didn't overlook an important point. Financial websites like yahoofinances are a
good source of information for public companies.
1 Source: Prof. Diana Derval,
Wait Marketing: Communicate at the Right Moment at the Right Place
,
DervalResearch, Amsterdam, J une 2007. Book available on Amazon.com
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Let me reveal you the secrets of successful marketing research - in 10 steps:

  1. Have a Vision: conduct a marketing research to confirm a vision you have. For instance "I believe that consumers are more receptive to advertising while they are waiting". If you notice a lack of vision, make first a preliminary research (have a look at the internet, magazines) to get inspired and informed on a topic and then (but then only!) interview one or two experts with very open questions (let them talk, they know what is important).
  2. Get an Overview: I invite you to use a visual search engine such as www.kartoo.com in order to get all the important links on your topic, for instance "receptivity to advertising" in a nutshell. Try it! You will become addicted to this tool
  3. Explore: Have a look at the most relevant websites (they can lead you to a book, an article, a company). Be open to new visions (even if you already have your idea) in order not to ignore "unconsciously" results that do not fit with your vision. Instead of that, be ready to adapt your vision: that's the purpose of the research! For instance when you discover that "a TV commercial is memorized by 17% of the consumers exposed at home and 27% of the consumers exposed in the doctor's waiting room" you realize that the vision is that when consumers are receptive, which is particularly the case when they are waiting, they better memorize messages. 1
  4. Refine: you can now make some more systematic research in order to make sure you didn't overlook an important point. Financial websites like yahoofinances are a good source of information for public companies.
  1. Link: Concerning consumers behavior, if you cannot afford your own survey, you can use analogy. Be then careful to understand the context. For instance Japanese people use mobile phones extensively and watch TV on it. Mobile carriers thought this would be the killer application in Europe too but it didn't ... another mistery of marketing? No, just a bad interpretation. In Japan people live with their 3 generations family in a small appartment with one television set so that mobile phone is their only private sphere. Why would European users who live in a small family in an appartment with more televions sets than rooms watch TV on a tiny screen?? If they do so it is more to get short sports news on the way or secretly access to adult content.
  2. Test: Test your refined vision on experts to confirm its validity. If a product is intended to junior consumers, do not take into account the objection of senior people: they are not in your target! In B2C trust better observation than survey. In B2B do not be afraid to interview 2 or 3 deciders. They will be more than happy to share their thoughts with you and will may be even become the champions of your project.
  3. Compare: only at this stage, have a look at competitors in order not to be influenced by them before you have developed a solid vision. Before taking into account a competitors' idea, check at least if the company is doing well.
  4. Share: share your vision as much as possible with potential partners and customers and prescribers while developing your action plan in order to get their input and involvement in your project (of course you have already patented your great idea when possible!)
  5. Evaluate: did your research raise a better vision? is the initial idea a nice to have? with no real business model behind? go back to 1. Did the research answer your questions? confirm your vision? congratulations! go to 10.
  6. Just do it! Elaborate your marketing plan and business plan based on your research - do not hesitate to go back to research when you have a doubt as some hours of research can save months of expensive and maybe useless developments. And then make your vision and plan happen - believe in your project, otherwise who will do it for you?