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Portland State University
Using the Internet for Market Research
Kent Lewis
Anvil Media, Inc.
http://www.anvil-media.com/psucourse
Agenda
Introduction & BackgroundInstructorStudentsSpeakersSyllabus
Market Research OverviewPrimary & secondaryQualitative & quantitativeOnline & offline
ExerciseSurvey
Introduction
Class ObjectiveUnderstand how, when and why to use the Internet for
market research
InstructorAgency backgroundgoodguys.comAnvil
Student IntroductionsSpeakers
i-OPTweak InteractiveWebCriteria
Syllabus
I: Market research overview
II: Internet tools & techniques
III: IPA review
IV: IPA development
V: Presentation development
VI: Class presentations
Market Research Overview
Research helps validate intuition and make solid business decisions.
Research helps gain insight into:Market size
Demand
Usage
Growth potential
Trends and opportunities
Common Reasons for Research
Defining and understanding a market
Understanding and segmenting the target audience
Competitive analysis and positioning
Product and service evaluation
New product concepts
Usability testing
Typical Research Questions
How many site visitors are customers?
How many of our customers use the site?
What do customers want on the site?
How can we increase our conversion ratio?
Why are customers leaving this page?
What other sites do our customers visit?
How do we get more traffic to our site?
Research Process
Identify and understand objectiveGather all available researchDetermine if data is sufficientAnalyze what additional data is requiredSelect appropriate method of researchMinimize biasCollect and analyze dataMake recommendations accordingly
Research Costing Function
Research budget = (CWD x NoR) – (CWD xYesR)
Where: CWD = cost of making the wrong decision NoR = percentage chance of making the wrong decision without research YesR = percentage chance of making the wrong decision with research
Sample budget($100,000x30%) – ($100,000x5%) = $25,000
Primary & Secondary Research
Primary: Experimental
Non-experimental
Laboratory & field
Secondary:Internal
External
Secondary: Free Offline Resources
Research firms
Government
Publications
Trade associations
Public company SEC filings
Library reference desk
Secondary: Free Online Resources
Newsgroups
Discussion lists
Bulletin boards
Directories
Competitor’s sites
Newswires (press releases)
Secondary: Paid Resources
Subscriber information services Dow JonesLexis Nexis
Syndicated research YankelovichUSADATAResearchPortal
Brand tracking Millward BrownHarris InteractiveCyberDialogue
Media measurement NetRatingsMediaMetrixArbitron
Primary: Qualitative Research
Overview: Soft & fuzzyAttitudes & opinionsExploratory tool
Used for:Brand testingConcept validationAd pre-testing
Format:Focus groups, interactive sessions
Limitations:Sample sizeModerator capabilitiesGeographical interpretation
Primary: Quantitative Research
Overview: Numbers = reliabilityNonverbalRepresentative sample
Used for:Determining market factorsCustomer behavior, attitudes & opinions
Format:Web & email-based surveys, purchase data, log files
Limitations:ConfiningWeak for conceptsAccessibilityMisrepresentation
Sampling
You’re only as good as your list
Central limit theorem:68% of all observations fall within 1 std. dev.
95% fall within two standard deviations
Error is determined by samples size
Non-response creates automatic bias
Sample should mirror population closely
Random is ideal, convenience is common
Sweet spot: Internet users/target audience
Sample Metrics
Classification: Demographic
Socioeconomic
Webographic
Behavioral: Visits
Number
Frequency
Types of purchases
Attitudinal: Desirability
Ratings
Research Can Be Flawed
Quantitative significance at 500 responses
Non-response bias
Incentives skew results: must be relevant
You’re only as good as your:Sample
Questions
Analysis
Class Survey
Java survey powered by i-OP
Go to anvil-media.com/psucourse
Click on Survey link under Class I
Complete survey
We will review results real-time
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