A Comprehensive Guide to Market Research Techniques and Methodologies

1. Marketing Objectives

Ideal marketing objectives must be SMART: Specific, Measurable, Achievable, Relevant, Time-bound.

2. Types of Marketing Data

2a) Primary Data

Information developed by the researcher for a specific project.

2b) Secondary Data

Information that has previously been gathered by the company or other researchers: public and private or internal information.

3. Deontology Market Research Code

Designed by ESOMAR and ICC to set essential standards of ethical and professional conduct. Researchers must ensure that personal data is fully protected when publishing findings, and maintain professional responsibility.

3a) ICC (International Chamber of Commerce)

World's largest business organization with 6.5 million members in more than 130 countries.

3b) ESOMAR

Global voice of the data, research, and insight community.

4. Research Process

4a) Problem Definition

The reason why the client needs to conduct market research. The client develops the briefing to explain their problem, their marketing objectives, and some research considerations.

4b) Approach Development

4b1) Background and Business Objectives (Understand Client Needs)

• Competitive landscape
• Information about the company
• Available information

4b2) Research Design and Considerations

• Target and sample requirements
• Methodology (qualitative or quantitative)

4b3) Timeline, Budget, and Deliverables

• Proposal deadline and project timeline
• Deliverables and conditions/terms

4c) Research Design Proposal

A document that helps to do away with ambiguity in the research process. It is based on the strategic objectives explained in the briefing.

Content:

• Background and objectives
• Methodology (qualitative or quantitative)
• Timeline
• Budget (fieldwork, outsourcing, coding, analysis, team, timeline, fee)
• Payment terms and legal clauses
• References and experience
• Team

5. Qualitative Research Methods

5a) Focus Groups

5a1) Characteristics

• Group discussion in a non-structured and natural manner with 8-10 members
• Homogeneous, non-expert participants
• 90-180 minutes

5a2) Applications

• Understanding consumer perceptions
• Identifying new opportunities
• Analyzing the consumer need state about products, services, or brands
• Understanding later quantitative techniques
• Exploring new topics

5a3) Advantages / Disadvantages

• Advantages: Spontaneity, flexibility, stimulation, speed
• Disadvantages: Recruitment challenges, social pressure, moderation bias, qualitative approach

5b) Depth Interviews

5b1) Characteristics

• Unstructured, direct one-to-one interview: 45-60 minutes
• Qualitative room or working areas
• Participant is an expert on the topic
• Probing is of critical importance

5b2) Advantages / Disadvantages

• Advantages: Accessibility, open discussion, no social pressure, flexibility
• Disadvantages: Not a discussion, moderation challenges, cost and time, qualitative approach

5c) Ethnography

The researcher observes and/or interacts with the participant in their natural setting (home, work, etc.)

5c1) Applications

• Helps understanding the routine life of the consumer
• Critical when the need is to profile the consumer

5d) Projective Techniques

Indirect form of questioning that encourages the respondents to project their underlying motivations and beliefs.

Types:

• Word association
• Personification
• Collage

Applications:

• They should be used if the discussion doesn't flow
• For exploratory research
• For projects focused on brand image

5e) Online Focus Groups

5e1) Characteristics

• One or two hours
• 6-12 participants
• Moderator has to master chat

5e2) Advantages / Disadvantages

• Advantages: Separated locations, open to discuss and express opinions, transcript of the discussion is automatic, cheaper than offline
• Disadvantages: Moderator does not exercise much control and cannot see body language, some business objectives are excluded, internet connection issues, less attention

5f) Online Communities

Permanent dialogue among the consumers. It is the place where the consumers can interact as in a social network.

5f1) Characteristics

• 20-40 members
• 4-20 days
• Conversations among community members
• Online or offline recruitment

5g) Neuro-Marketing

• Spontaneous thinking
• What is on the consumer/shopper's mind
• What the consumer/shopper does not say