MKT 300 1st Edition Lecture 11Outline of Last Lecture I. Marketing ResearchII. Marketing Research ProcessIII. Advantages and Disadvantages of Secondary and Primary DataIV. Data Collection TechniquesV. Qualitative TechniquesOutline of Current Lecture I. Quantitative TechniquesII. Step 4: Analyzing Data and Developing InsightsIII. Step 5: Action Plan and ImplementationCurrent LectureI. Quantitative Techniquesa. Oscars this Sunday! Sent messages to voters/families to recruit votesb. Product/taste-testing: Healthy Snack: Orang Crunch—markets carrots as junk foodi. Marketing researches taste firstc. Marriott has “test” hotel rooms to stay for the night and rate itd. Surveys: Wendy’s—10,000 surveys before revamping the menue. Trident gum: 140,000 surveyed—“Splash” Watermelon Adf. Maxwell House surveyed coffee drinkers, brought consumers into office (GOOD Maxwell House)g. Scanner Data: data mining—when you check out at Walmart/Targeth. Panel Data: invite consumers to join panel; interview 2-3x yeari. Survey same people throughout time to see how tastes changeThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.ii. A company can perform this panel themselves or pay marketing to do the paneli. Quantitative = numbers, statistics; real world: Facebook clients test if ads drawingsalesi. Test market: myMacy’s: test in some stores, not allii. 2010: six stores opened midnight on Black FridayII. Step 4: Analyzing Data & Developing Insightsa. Observation: watching/recordingb. Focus groups: group interview: taste testingi. In depth interviews (one consumer)c. Packaging trend: Beck’s sapphire: computer simulated market, used eye-trackingi. Pantene ‘Expert’: more expensive/upscale; black = luxuryii. 2012: over 40,000 new products introduced to the marketd. Gelato: used focus groups (150 people) said black was more eye-catching/appealing than white with golde. Technology detects emotion from face via camera to see reactions in store—use webcam during ads while they playf. Pantene ABC Nightline—“Hair Wars”i. In 2011, 6.7 billion spent on hair productsii. Using NASA technology: one machine that studied Mars was in their labiii. Focus groups: watched shower (observation)g. Fruit of the Loom campaign: one-on-one interview in home, ask about how they felt about underwear (wanted comfort)—“Whole New Ballgame”h. Campbell’s labeling improved: in-home interviews/at grocery/eye tracking/talkedthrough while consumer watched themselvesi. Physiological vest measures posture/temp/heart rateii. Took out spoon on label, updated bowls, left Chicken Noodle/Tomato/Cream of Mushroom samei. Ethnographic research: anthropology based, natural environmenti. Watch daily activities/dinner parties/grocery shopii. 18 months, target six groups, similar approach by General Mills and Starbucks and Proctor and Gamble with Febreezej. Social Media: monitor for problems (online reviews)i. LL Bean: recalled sheets, offered refund and apologiesk. 2012 Samsung: used what people said on TV about iPhones and androidsl. Conagra: own Swiss miss/Hunts: study online recipe searches; spike on Saturday and Sundaym. Companies you can hire to search social media for company:i. Curalateii. Ditto LabsIII. Step 5: Action Plan and Implementationa. Executive Summaryb. Bodyc. Conclusionsd. Limitationse. Supplements including tables, figures, and