Marketing Research Evaluation and Analysis
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Marketing Research Evaluation and Analysis Course
Introduction:
Strategic Marketing Planning is the key to addressing the challenges your business faces in a rapidly changing world. From financial uncertainty to climate change, globalization, resource scarcity, and technological advancements, this methodology will equip you with a powerful Ten Step Planning approach. It enables you to analyze, devise short and medium-term strategies, and effectively communicate them to your management and peers. With this formalized and practical framework, you'll gain the confidence to navigate the evolving landscape and steer your business towards success.
Course Objectives:
By the end of the course, participants will be able to:
- Understand and meet your business needs by using advanced and new research methods such as Behavioral Economics, Heuristics, Emotional Resonance, Influencer Research, Semiotics, and Design Thinking
- Illustrate the difference between Qualitative and Quantitative Research, the pros and cons, and how they should work together – not in isolation
- Build your Research and insight around the core business motivators – the customer experience and purchase funnel
- Construct a great Market Research Brief/Insight Brief
- Craft meaningful springboard insights derived from your research observations and measure the success of any program against the Net Promoter Score (NPS) at any stage of the customer experience
- Apply your learning to create an agency selection criterion to meet your brief and choose the best partner
- Understand which vital elements comprise an effective and powerful market-led business strategy and its consequent plans
- Employ the most suitable market-led business planning tools for your business and products
- Outperform your competition – directly and indirectly –by creating and implementing dynamic, professional, true market-led business strategies
- Become an effective market leader by enhancing the image of your products and/or services and boosting your market recognition
- Develop your market-led thinking to become more analytical, innovative, and strategic
- Implement practical action plans to improve your profits and potentially dominate your markets
- Use powerful analysis tools to better understand your customers’ perceptions, needs, and desires, and how they rate your and your competitors
- Understand and effectively use customers’ buying needs and define differential value propositions
- Understand the many different pricing strategies and how to choose the most appropriate and profitable ones for your organization
Who Should Attend?
This course is designed for managers who have either direct or indirect responsibility to determine or contribute to their organization’s marketing strategies and plans, and their implementation and execution. This masterclass will benefit:
- The country, sector, product, and brand managers
- Marketing directors and managers
- Business planning managers
- Experienced sales managers
Course Outlines:
Introduction
- Course introduction and aims
- The Ten Steps research & Planning Methodology
- Strategy and what it means
- Pareto’s Law
- Branding and brand management
- What is Guerrilla Marketing?
What’s The Point of Market Research?
- Plenary discussion on definitions
- Explanation of the need for research to answer business questions
- Review of all the possible ways it can help
Qualitative Research
- Introduction to the most common Qualitative method – focus groups
- The vital considerations – Brief, moderator, and questionnaire flow, recruitment, etc.
Quantitative Research
- Introduction to the most common Quantitative method – Surveys
- How to use Google to calculate statistical significance
- Choice modeling principles
- Concept testing principles and best practice
Market Research Brief
- Introduction to the best practice brief and the principles
Test and Learn
- The principles of design thinking and dynamic insight
- Introduction to insightful behaviors needed to succeed
- (Questioning, Listening, Exploring, and Connecting)
Insight Definition
- The difference between insight, observations, facts, and data
- How insight can inform businesses
Introducing the Customer Experience Framework and the Purchase Funnel
- Customer experience framework
Net Promoter Score (NPS)
- How it works, the ultimate way to measure performance
- How Market Research is fundamental
- Net promoter score calculations
- Customer experience mapping
- Briefing on grouping and theming
Selecting the Right Agency
- Thinking backward – using skeleton decks
- ‘How to’ question crafter
- Briefing on mining and using the 5 Whys
- 5 Whys framework
- Crafting an insight
Updating the Marketing Concept
- What is marketing and how is it perceived in business today?
- Why there are now six ‘P’s and an S’ and no longer the classic four ‘P’s in the Marketing Mix
- Where the Marketing Mix fits in short, medium, and long term business planning
A. WHERE ARE WE NOW?
Defining Our Market Segments, Products, and Services
- Market segmentation and product definitions: defining hierarchically our target customer and product/services groupings (an often forgotten task)
- The six common bases for defining our market segments and products and services
- A simple yet effective ten-step process to define them
- Introducing the course case study
Case Study – Applying the market definition techniques to the case study, both for market segments and products, to form an initial business appraisal