Market research and segmentation
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Catatan pelajaran
What marketing is
- Marketing involves understanding customer needs and coordinating a suitable offer and marketing mix. Research provides evidence about customers, competitors and demand, but a decision still needs interpretation and an assessment of uncertainty.
- Segmentation groups relevant needs or characteristics; targeting selects groups to serve; product, price, place and promotion are then shaped for the offer. These connected decisions are not the same as only advertising.
Market research
- Primary research collects new data for the current purpose, directly or through a commissioned collector. Surveys, interviews, focus groups, observation and limited market trials can be used. Existing published statistics, reports or reused data are secondary for the business.
- A method’s suitability depends on the question, cost, time, access and evidence quality. Primary is not automatically better, and secondary is not always free or current. Check original definitions, date, population and possible bias.
Source and type are separate choices
Types of data
- Quantitative data measure numerical quantities, such as purchase counts or rating-scale scores. Qualitative data describe meanings, experiences or reasons in non-numerical form. A survey or interview can collect both types.
- An opinion expressed as a 1–5 rating is a numerical measure, while the person’s written explanation is qualitative. Analysis may code themes numerically later; do not assume every number is a meaningful quantity or every opinion is automatically qualitative.
Sampling
- A sample is a subset of a defined population and is not necessarily representative merely because it is called a sample. Simple random sampling gives each member of the stated frame equal selection chance. Frame gaps and non-response can still bias results.
- Quota sampling fills stated group totals, often with non-random choices within groups; stratified random sampling selects randomly within defined strata. Size can improve precision under a suitable design but does not repair poor coverage, self-selection or leading questions.
Sampling methods differ
Market segmentation
- Segmentation can use relevant demographic, geographic, lifestyle or behavioural features. Age, income or location can be useful where evidence connects them to customer needs; individuals can belong to several groups and differ within a group.
- A customer profile is a working summary, not a stereotype. For example, investigate people needing evening deliveries, then test suitable hours, price and communication. Segmentation may reduce wasted effort but collecting data and tailoring offers can also add costs.
Segments need a reason to matter
Market size and share
- Define market size by the relevant sales value or volume and period. Market share (%) = firm sales ÷ total defined-market sales × 100 using the same basis. Market growth (%) = (new market sales − original market sales) ÷ original market sales × 100, where the original value is nonzero.
- Fictional comparison: firm sales £20m to £25m rise 25%; market sales £100m to £150m rise 50%. Firm value share moves from 20% to about 16.67%, despite its sales growth. This does not measure profit.
Firm growth can lag behind its market
Niche and mass markets
- A niche focuses on a specialised, relatively narrow segment. Specialisation can help meet particular needs, but competition, limited demand or high costs may remain. Premium prices and profit are not guaranteed.
- Mass-market activity addresses a broad customer base, potentially supporting volume and scale benefits while facing competition and resource needs. It does not automatically mean one price level or uniform customer behaviour. Compare the actual offer, demand and costs.
Compare market approaches
Use of data
- Use research to test assumptions and interpret patterns, not guarantee sales. In the fictional opt-in survey of existing followers, 80 of 100 respondents express interest: 80% of respondents, not proven 80% of the whole market. Volunteers may differ from those not reached or not responding.
- Use clear, neutral questions with relevant response options and a defined timeframe. Stated intention may not become a purchase. Compare different evidence where definitions match, and explain limits such as date, sample design, wording or test-market differences.
Do not overclaim from an opt-in survey
Slide
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Soal latihan
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1.What is market research?
Easy- Acollecting information about customers and the market
- Ba type of advertising
- Ca loan
- Da tax
2.What is primary research?
Easy- Aexisting data
- Ba tax return
- Ca bank statement
- Dnew data collected for the specific research purpose
3.What is secondary research?
Easy- Atesting a product
- Binterviewing
- Cusing data that already exists
- Dcollecting new data
4.What is quantitative data?
Easy- Afeelings
- Bnumerical data
- Copinions
- Dstories
5.What is qualitative data?
Easy- Anon-numerical descriptions, experiences or explanations
- Bnumbers
- Cpercentages
- Dstatistics
6.What is a focus group?
Easy- Aa large survey
- Ba shop
- Ca bank
- Da small group discussing a product
7.What is test marketing?
Easy- Aadvertising only
- Bdelivering free
- Ctrialling an offer in a limited market or channel before wider rollout
- Dselling worldwide
8.What is a sample?
Easy- Aa supplier
- Ba subset of the population being studied
- Cthe whole market
- Da competitor
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