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Transcript of Market Research
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What is Market Research?
Why is Market Research Important?
"Secondary Research" Questions
External Data Collected
Businesses are able to examine in their market :
Attitudes of customers
Performed after secondary research
Research is focused, specific and customised
Control of the questions: extremely valuable
Ways to collect primary research:
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:
Information obtained free or low cost
Resources readily available
"No two markets are exactly the same"
"Markets are forever in flux"
Ultimately, market research should:
Provide information that
Help increase success of business
The final conclusions should meet your initial business objectives
Created campaign 2008 – “How do you like your Vegemite?”
After this campaign:
Sold 1000 tonnes of Vegemite
12.7% increase of sales in previous year
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?
1923 - 2008
(The State of Queensland, 2014)
(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:
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
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
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?
Out of date
How do you like Vegemite, (2008)
How do you like Vegemite,(2008)