Week 3: Using Market Research

This week we're catching up to Chapter 3 of our text, and watching two videos (one by Han's Rosling and one by Malcom Gladwell).

We also had a Breeze session this week, in which we discussed some of the types of marketing research that has/can be accomplished (whether that be primary, secondary, observational, etc.). I found it interesting that so much research has even been done--by Dr. Raymond Burke of IU--on movement of customers through stores. I think this type of direct, observational research can provide even more information about purchase behavior than other forms (like surveys for example) can. A few key points that stood out to me from the session included:

• Marketing will become increasingly measurable over time (with the rise of website analytics, GPS, video tracking, etc.)


• Market research isn't information, but insight (present the data in a usable format)


• Market research is understanding consumer purchase behavior


• Other purchasers are the most important influence for consumers

In Hans Rosling's "No More Boring Data" video from the TEDTalks, Hans Rosling discusses research into child mortality rates internationally. He plotted the life expectancy and fertily rates onto a graph, and animated the graphs over time (thus showing how each section grew and moved, changing). Then, he graphed this in context of the GDP per capita. He gave historical context as to why life expectancy might have been impacted in this manner (AIDs, wars, and more).

In Malcom Gladwell's video "What We Can Learn From Spaghetti Sauce," Gladwell talks about testing Pepsi's sweetness, and the market research done on preferred sweetness. Then he compared it to Prego's market research into the "perfect" tomato sauce. The data showed insight that instead of finding the "perfect" sauce, they should focus on the three groups in relation to texture/taste instead: Those that like their sauce plain, spicy or chunky. Gladwell points out that people should simply ask what people want.

1. Does your company use research to understand it's customer's? What type of research?

Our company uses market research when launching new products, primarily through surveys and secondary research into what has been sold previously, etc.

2. What Insights does Dr. Rosling gain from the data collection and analysis he conducts in the video. How important is the visual display of data in creating these insights?

Dr. Rosling gained insight from his research that you must start out healthy rather than wealthy in order to maintain healthy mortality rates. He explains that "health cannot be bought at the supermarket," and that countries have to invest and educate in health care. The different countries have to be looked at differently based on outside forces (whether or not health care is a focus for the country, etc.).

The visual display of data in the case by country, over time, considering different economic factors, was extremely important in creating these insights. By visually seeing how these factors impacted mortality rates over time, Rosling was able to show how health is related to wealth, but that some have grown at different rates.

3. Where will you go to collect data for your marketing plan? How can you learn about the type of consumers in the market you have been assigned. How will you convey and provide insights to your client using this information?

Our data will primarily be collected through secondary sources (online and scholarly articles). This will give us good insight into the background of our target audience and their wants/needs/preferences. We'll be utilizing the research and presenting it in a visual, easy-to-understand method in order to help our client better digest the information.