CLC_18DMA02

Team:

Nguyễn Hữu Tấn

Trần Ngọc Diệp

Lê Quỳnh Như

Trang Thị Thùy Anh

Lê Nguyễn Tường Vi

Bùi Ngọc Tuyết Nhi

Chapter 4 - CONDUCTING MARKETING RESEARCH

1. What constitutes good marketing research?

Good marketing research is characterized by scientific method,
research creativity, multiple methods, interdependence, value and cost
of information, healthy skepticism, ethical marketing

2. What are the best metrics for measuring marketing

productivity?
Marketing metrics are the set of measures that helps marketers
quantify, compare, and interpret marketing performance.

There are many different marketing measures, marketers should

choose one or more based on the particular issue they face or must
solve. Companies can also monitor an extensive set of internal metrics,
such as innovations marketing metrics.

Carefully measuring the effects of a marketing activity or program

helps ensure mangers make the right decisions going forward.

3. How can marketers assess their return on investment of

marketing expenditures?
There are four measurment pathways marketers are pursuing:
·        Customer metrics pathway

Looks at how prospects become customers, from awareness fo

preference to trial to repeat purchase

·        Unit metric pathway

Reflects that marketers know about sales of product/service units

·        Cash-flow metrics pathway

Focuses on how well marketing expenditure are achieving short-

term returns

·        Brand metrics pathway

Tracks development of longer-term impact of marketing through

brand equity measures that assesses both the perceptual health of
brand form customers as well as overall financial health of brand

IDEO
1. Why has IDEO been so successful? What is the most
difficult challenge it faces in conducting its research and
designing its products?
IDEO has been so successful because they always put their clients
and consumers first, instead of focusing on their own brand. They strive
to design products that consumers actively want . They put a lot of
efforts in research and market analyzes so that they can understand
how consumers purchase, interact with, use, and even dispose of
products. They use many research methods like observational methods,
in-depth interviews, behavioural mapping, camera journals,
“storytelling” techniques, prototyping, let their clients, executives join in
the research.

By researching deeply, IDEO gathers detailed, accurate customers’

want and need. If you know and understand what consumers want, you
can design a product that exactly meets their needs and will be highly
accepted by consumers.

The customer-centered approach which entails the in-depth

participation of customers. It’s difficult to obtain data from consumers.
It is always, necessary to conduct in-depth interviews and record
consumers while they are using a product. This is the most sensitive and
valuable part but it is often hard to get the exact required information

2. In the end, IDEO creates great solutions for other

observational methods to conduct companies that then
receive all the credit. Should IDEO try to create more
brand awareness for itself? Why or why not?
IDEO should not creat more brand awareness for itself. We have to
look at its business model. IDEO is the largest designing firm in the US
because of their policies meet their unimaginable expecetations. This is a
thing of pride when they understand and put customer’s needs ahead of
personal needs. Therefore, customers always have their trust and
satisfaction about IDEO. If IDEO starts to create more brand awareness
for itself, it would negatively impact their relationship with their
customers. The main reason for the success of IDEO is that they put
customers first, so I think they should follow the same path and do not
take all or more of the credit.

Intuit
1. Elaborate on Intuit's use of customer research. Why did it
work so well for the company?
Intuit spends a significant a mount of time and money on consumer
research each year and they state that it is "critical for intuit to know
exactly how customers use and feel about their products". They often
interview their consumer over the phone and asked about new design to
learn more about the generation patterns and what they prefer more
because of the nature and pace of technology, the shifting customer and
consumer needs, and the competitiveness of the industry.
 Intuit uses site visits, lab studies, and remote studies to keep pace
with the consumer.Without this spend on research, Intuit might not have
kept up with these changes.This has work so well for the company
because they understand what the consumer wants and improves their
product well accordingly to the information they have.

2. Could anything go wrong for Intuit now that it has beaten

out Microsoft? Why or why not ?
We think even if Intuit has beaten out Microsoft, something could still
go wrong. Although Microsoft announced it would discontinue its Money
product line after an 18-year battle with Quicken of Intuit, but it doesn’t
mean that other companies will not produce and develop their products.
If other software companies try to make new products, customers will
have more choices to choose so the performance of Intuit may drop.
Briefly, Intuit has to keep improving their quality of products, and do
more researches to understand customers and keep up with the market.

3. How should Intuit gauge the results of its research

among younger consumers with mobile devices?
Intuit have already made a dramatic change in launching to the young
generation by increasing its presence on social media Web sites such as
twitter, Facebook , Linkedln.

Identifying bloggers to write and share blogs then classify each blog
post according to velocity, share of voice, voice quality and sentiment of
the blogs.

Understanding and interpreting this data is the key to gauge the

research of the young consumer
 HOMEWORK

Question : When was last time you participated in a survey?

How helpful do you think the information you provided was? How
could the research have been done different to make it more
effective?
Trang Thị Thùy Anh

The last time I participated in a survey was last month. It was a

survey for employee about trying a new drink product before my company
launch it in the market. The information which I provided to help my
company understand consumer's opinions ; aim to identify the factors that
influence the choice of this product such as flavor, packaging, pricing,... and
what are the things in this product were need to improve in. I think the
research should decrease open-ended questions in this survey to give them
quantitative data, stick to closed questions, such as multiple choice or
matching questions, where they can set some parameters for response .

Trần Ngọc Diệp

The last time I participated in a survey was last month, that was a
survey in my Chinese language center.

I think the information I provided will help them very much. The
center will know about the teachers like they’re good or not, the way the
teachers teach or do I like the method that my teacher teach me. And how
do I feel about the environment of the center, space of class, people (staff,
security, receptionist..). According to the information I gave them I think
they will know what they need to improve and develop in order to make
their service better and satisfy all the students.

In my opinion, we don’t need to fill our name on this survey cause it

isn’t necessary. The center need to know what we feel about their service,
not who we’re. When we write name, we feel like they know who we are so
we can’t tell what exactly we think, and obviously we tend to be nicer and
not tell the truth, for example the quetions like if you like your teacher… So
I think they need to change this thing to make it more effectively.

Bùi Ngọc Tuyết Nhi

Few days ago, I do a research on Instagram about the clothing shop. I

think it helps the bussiness improve the product’s quality, the services and
how customer like their product.I think the business must do a research by
questioning through give shop the feedback or multiple choice like “ do you
like the new concept?” , short question or yes or no question will make
customer spend their time to do a research by surfing web , make customer
feel comfortable and save them time and willing.

Lê Nguyễn Tường Vi

The last time I participated in a survey was about using cosmetics.

But the survey was too long and it took me a lot time to do this, some
questions were quite difficult to understand. So I suggest they should make
these questions easy to understand. Besides, I suggest that this company
should use tools to help them solve their problems.Ex: They can use Survey
Monkey Genius tool. It will tell them how long it takes respondents to finish
their survey and provide other tips for making it easier on them.
Nguyễn Hữu Tấn

The last time I participated in a survey was a survey of male cosmetic

consumption behavior.The potential for development of the Vietnamese
market is enormous, but at present, there are not many survey studies
focusing on male. Therefore, there should have some specific studies to find
out the factors that influence their consumption decisions. Identify the
individual factors affecting the behavior of cosmetic consumption in male.
The significance of this study gives businesses an overview of the situation
such as cosmetic demand and factors affecting men's decision to buy
cosmetics. To be more effective, they can use social media like facebook,
instagram,... to promote the brand of products.

Lê Quỳnh Như

I remember I did a survey two weeks ago. This is my English

proficiency survey.In the survey, there were many questions, mainly
testing my listening, speaking, reading and writing skills. After answering
the questions, they will send me a test result that will help me to be aware
of my English learning level. In addition, they recommend some suitable
courses for you. This English proficiency survey is limited to 10 minutes
with 40 questions have increasing difficulty. In my opinion, they should
adjust the time about 15-20 minutes. This makes people answer the survey
more comfortably.