Nicole Frey

1
Nicole Frey

• LC Room 4.26
• nfrey_at_commerce.uct.ac.za

2
Structure

• 3 lectures
• All on web
• Overview usually a full year course
• Emphasis is on understanding how MR fits into the
  world around you
• Lecture plan
• Introduction what, why and how (1 lecture)
• Research Method and tools (2 lectures)

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What is Market Research?

• Surveys
• Trends
• Customer insight
• Improved decision making
• Competitive advantage
• New knowledge
• profits

4
Why conduct MR?

• Competition
• The only thing that stays constant is change
• Changing consumers (form, design simple)
• Changing tastes (Kauai, Fresh Stop McDonalds)
• Changing environments (Axe Ego, Fair Trade)
• Changing norms (CSI, CSR, CRM)
• Strategic decision making (STSMC)

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Role of Market Research

• Heinz Tomato Sauce
• Green, blue I had no clue
• Dove Soap
• ¼ hygdrating cream
• Black Diamond
• How large? Where?
• Attitudes, perceptions, trends, needs
• Conspicuous consumption
• Adoption of certain products (financial
  instruments)

• Mellerware
• Product vs perception thereof
• Management insight
• Octagon
• Causes and companies
• Philanthropy as strategic tool
• TEFL
• Asian vs. European motivations
• Ethical Tourism
• What are the benefits? (price premium,
  differentiation)

6
MR should

• Packaging?
• Line extensions?
• Dropping sales?
• Competitors
• Perceptions
• Customers
• Awareness?
• Relationships?
• Future?
• SWOT
• MOA

• Brands
• Intuition systematic decision making
• Reduce risk
• Enable the Marketing Concept approach to business
• Consumer orientation
• Long run profitability vs. sales volume
• Cross functional perspective

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Market Research

• Market Research is the systematic and objective
  collection, analysis, and interpretation of
  information for decision-making about marketing
  problems of all kinds, using recognised,
  scientific methods
• South African Marketing Research Association

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Re search to search again

• To search again careful, planned and systematic
  approach
• MR has to be objective the danger of bias
• Who gets questioned
• How
• Sequence
• Group dynamic
• Stats, stats, stats
• Serves as an aid for decision making not a
  substitute
• Constant change means constant re-evaluation
• Basic and pure research (increase the body of
  knowledge) and applied research
• Unknown theory
• Testing of theory
• Academic research

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Quote of the Day

• It takes humility to seek feedback
• It takes wisdom to understand it,
• Analyse it
• And appropriately act on it
• Stephen R Covey