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Market Research

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by

Mike Ondrousek

on 4 April 2014

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Transcript of Market Research

Mike Ondrousek
Juliana Jaramillo
Joyce Liu
Ninad Gokarn
Market Research
A presentation by...
What is Market Research?
Why is Market Research Important?
Primary Research
Examples of
"Secondary Research" Questions
Secondary Research
External Data Collected
Businesses are able to examine in their market :
Needs
Buying behaviour
Attitudes of customers
Performed after secondary research

Research is focused, specific and customised

Control of the questions: extremely valuable

Ways to collect primary research:
Interviews
Focus groups, surveys
and through observations

Disadvantages: Expensive, and time consuming.
Performed BEFORE "Primary Research"

Businesses can understand an overview of the broader market

Process of gathering information through available sources:
Internet
Research
Database
Government

Advantages:
Information obtained free or low cost
Resources readily available
"No two markets are exactly the same"
"Markets are forever in flux"
Conclusion
Ultimately, market research should:

Provide information that
reduces risk
and
uncertainty

Help increase success of business

The final conclusions should meet your initial business objectives
Bibliography
Process of:
Gathering
Analysing
Interpreting information
Created campaign 2008 – “How do you like your Vegemite?”

Technology:
Facebook
Blogs
Websites
Networking
Census

After this campaign:
Sold 1000 tonnes of Vegemite
12.7% increase of sales in previous year

Primary Research
Exemplar: Kraft, Vegemite
What is the Population of Queensland?
Students In Queensland
How Many Students Eat Breakfast?
(The State of Queensland, 2014)
How Many of Those Students
Buy/ Eat Vegemite?
Vegemite Sales
from
1923 - 2008
(The State of Queensland, 2014)
(Robertson, 2010)
(Australian Bureau of Statistics, 2014)
The foundation for marketing and sales planning

Identify if: strategy needs changing, or updating

Helps understand current environment of your industry

Two types of market research:
Primary
and
Secondary
Australian Bureau of Statistics. (2014, March 27). 3101.0 Australian Demographic Statistics, Sep 2013. Retrieved March Saturday 29, 2014, from http://www.abs.gov.au/ausstats/abs@.nsf/mf/3101.0

Entrepreneur Media Inc. (2014). Retrieved March Monday 24, 2014, from Market Research: http://www.entrepreneur.com/encyclopedia/market-research

"Happy Whistling Ukulele" by Twisterium - Commercial Background Published on Mar 11, 2013,TwisteriumMusic.Retrieved 31st March 2014.

How do you like Vegemite? (2008). Posted by Duncan Macleod. Retrieved April 3, 2014 from The Inspiration Room
http://theinspirationroom.com/daily/2008/how-do-you-like-your-vegemite/

Public Relations Institute of Australia (2010). Melbourne: Royce Consumer. Retrieved March Sunday 30, 2014, from Kraft Vegemite. “http://www.pria.com.au/documents/version/537”

The State of Queensland. (2014). Business and Industry. Retrieved March Monday 24, 2014, from Queensland Government: http://www.business.qld.gov.au/business/starting/market-customer-research/market-research-basics

The State of Queensland. (2014, April 29). Full-time students by government and non-government sector, Queensland, 1993 to 2012. Retrieved March Saturday 29, 2014, from Queensland Treasury and Trade: http://www.qgso.qld.gov.au/products/tables/student-numbers-govt-non-govt-qld/index.php

Tombs, A., & Seamons, O. (2013). Foundations of Marketing. Sydney: Pearson Australia.

Vegemite - Australian TV Commercial (1982). (2009, May 13). Retrieved March 31, 2014, from
Video
Tombs and Seamons, 2013
The State of Queensland, 2014
Do you like the taste?
Are you Australian?
Would you recommend Vegemite?
Would you buy Vegemite?
Disadvantages:
Not customised
Out of date

Some Feedback...
How do you like Vegemite, (2008)
How do you like Vegemite,(2008)
Full transcript