BSBMKG408A Conduct Market Research BSBMKG403A Analyse market data BSBCMN405A Analyze Research Inform

1
BSBMKG408A Conduct Market Research/ BSBMKG403A
Analyse market data/ BSBCMN405A Analyze Research
Information

• Format of this module
• Main focus will be on research project for the
  client
• Supplemented by theory lectures, slide shows and
  spreadsheets illustrating relevant Marketing,
  Research and Analytical techniques.

The truth is out there!
2
Week 1Whats happening this week

• Types of research studies
• Purpose of research
• What is statistics?
• Ref Zikmund ch 1, 3, 20

3
Research helps provide direction to help improve
decision making

• When is there NO REASON to do a study?

4
Research helps provide direction to help improve
decision making

• When is there NO REASON to do a study?
• Not important
• Not worth the cost
• Not enough time
• Not enough information

5
Can we implement the marketing concept WITHOUT
research?

• Knowing your customer leads to Marketing success
• The danger does not lie in what we do not know
  but in what we think is true!

6
Types of research problem

• Data vs information
• Pure and applied research
• Identify/evaluate opportunities
• Analyze segments and select target markets
• Planning marketing mix
• Product
• Price
• Ditribution
• Promotion
• Performance analysis

7
Comment on each of the following

• Marketing managers are paid to take chances with
  decisions. Marketing researchers are paid to
  reduce the risk in making decisions.
• The purpose of research is to solve marketing
  problems.
• Marketing strategies are no better than the
  information on which they are formulated.
• People listen to our ads because we listen to
  them.

8
Research types
Problem definition

• Exploratory you need to know something before
  you can ask questions
• Descriptive who are they and what do they do?
• Causal research why do they do it? Should we
  do this or that?

Vague, ambiguous

Clearly defined
9
THE INDUSTRY CLIENT a brief snapshot

• Simon Sloan is the General Manager Facilities and
  Administration of the Royal Freemasons Homes of
  Victoria, a large network of aged care
  facilities. RFHV are considering demolishing
  their 45 year old Punt Road, Prahran facility and
  replacing it with about 200 two and three bedroom
  supported living units for the elderly in a 20
  story high rise building. There are a lot of
  other high rise buildings in Prahran but there
  are no other high rise buildings for the elderly
  in Victoria the largest are some 4 story places
  in the suburbs.
• Graham Shotter, the CEO, wants to know if this is
  a viable strategy.
• What do we need to know to make this viable?

10
What do you need to know in order to advise Mr.
Sloan, Mr. Shotter and the Royal Freemasons Homes
board? Fill in a table like this.

• Information required

• Possible source

11
Why bother with statistics?

• People believe in numbers
• There are three types of lies
• - Benjamin Disraeli, PM of Great Britain
• One death is a tragedy, a million is a statistic.
• - Stalin

12
Data reduction

• Turning DATA into INFORMATION

13
First steps in deriving meaning

• Sort it
• Count it
• Compare it
• Tables
• Percentages
• Graphs
• Find the middle
• Estimate the spread (dispersion)

14
Make up a table

• Frequency distribution (classify the data) then
• Percentage distribution
• Probability distribution
• Cumulative
• Frequency polygon
• Ogive