ASSIGNMENT 7.1 – MARKET RESEARCH

Việt Chinh – Ngọc Dung – Hồng Ngọc

DEFINITION OF RETAIL AUDIT

RETAIL AUDIT - a process gathering information on a brand's volume of sales, trends in

sales, levels of stock and other aspects of display and promotion at selected samples… to

create a dataset for analysis

CHARACTERISTICS: - Answer to “How much”, “How many” question

- Large sample size

- Frequency of data collection: occasionally or when they need

RETAIL AUDIT CAN TELL YOU – which of your products, and which of your

competitors' products are on which shelves, at which stores, at what time

DEFINITION OF RETAIL AUDIT

P r o c e s s o f R e t a i l A u d i t

SUMMARY

MEASURE

CRAFT AUDIT

QUESTION

DEFINE AUDIT

OBJECTIVE

ASSEMBLE THE

AUDIT TEAM

Experienced, specia

lized audit team

will understand the

retail space and be

aware of the

unique challenges

your stores face.

Clearly defining your

objective to

establishing what to

measure

Clear questions help

audit teams record

accurate responses

while repeatability

ensures consistently

relevant

(and, therefore, consi

stently comparable)

results across

multiple audits.

The audit team will

explore your

facilities, collecting

data.

It sometime

included

photographic

evidence

Summaries the data

collected to find

out the facts for

analysis

PURPOSE OF RETAIL AUDIT

Gain Market and Products

Overview InformationMeasure all or one focused

product

Improving Performance

Easily collect information about the

market, current products and newest products

on the market.

Take out irrelevant and incorrect information

elimination process of indirect audit.

Evaluate market potential, pointing out current

trends or future trends

Gather information on the competitors upon

their new products, new strategies or new

product directions. Measure their sales, trade

and interaction to retailers.

Gather information on your own products

about sales, distribution, selling prices, retailer

support, media advertising, market shares, etc.

Use numbers and visuals to draw out product

current position on the market, to retailers. Put

in comparison with competitors, current

market trends, market potentials, etc.

Evaluate the Competition

After acknowledging performance problems or

wanting to know possible room to improve.

RETAIL AUDIT REPORT

BACKGROUND•Company brief profile

•Market, industry, competitors profile

RESEARCH

METHODOLOGY,

DATA ANALYSIS

•Sales

•Distribution

•Selling prices

•Retailer support

•Media advertising

FINDINGS

•Sales, Promotion Trend analysis and trend prediction

•Stock levels

•Effectiveness of in-store display

•Promotion measure and effectiveness

SUMMARY •Research agency’s confirmation and suggestion

OBJECTIVE•Marketing objective

•Research objective

DEFINITION OF CONSUMER PANELS

WHAT IS PANEL?

A panel is a sample of representative people in target

market, which is recruited to participate in a market research on

an on-going basis.

WHAT IS

CONSUMER PANEL?Consumer panel is a unique method to examine dynamic long-

term changes in behaviors, attitudes and perceptions.

CHARACTERISTICS

OF CONSUMER

PANELS:

The answer to the “what” question.

Large sample size

Frequent data collection

Repetition of the same data over time

Large user base

CATEGORIZED

Continuous panels – respondents report essentially the

same information repeatedly over some period of time.

Discontinuous panels – respondents report over time on a

broad range of different topics.

DEFINITION OF CONSUMER PANELS

P r o c e s s o f C o n s u m e r P a n e l s

Courting the panelist and

Collecting Data

Improving Panel Accuracy and

Reporting

The Accidental Conditioning of

Consumer Panels

Processing Data and Projecting

Results

-This step is to figure out

a large – scale target

consumers based on

relevant factors.

Then, panel members will

be recruited through face-

to-

face, email, phone, online

surveys.

-To avoid some factors that

influence accuracy and

cause biases, researchers

will list down the sources

of reporting errors and

show how accuracy can be

assessed and measured

- Panel members will be

called several times for

their input about the given

topic. After these calls, 30 -

60% of members agree to

join a panel.

-In this stage, researchers

will conduct code and edit

data from the computer

preparation and

maintenance of files to

produce data.

PURPOSE OF CONSUMER PANELS

CONTINUOUS

PANELS

DIS-

CONTINUOUS

PANELS

MARKET•Estimating product trends and market share

•Segmenting markets

BRANDS•Estimating brand loyalty and switching behavior

•Estimating brand penetration with new buyers

•Measuring advertising effectiveness

CONSUMER•Profiling buyers

•Documenting store shopping behaviors

•Predict repeated purchase behavior

BRANDS

CONSUMER •Develop user profiles

•Concept test

•Advertising and promotion test

•Packaging and design test

•Brand equity research and attitude tracking

CONSUMER PANELS REPORT

PROJECT NAME AND BACKGROUND

RESEARCH OBJECTIVE

SAMPLE SIZE AND DEFINITIONInclude the quantity of samples ,characteristics of consumers, quotas of

sample based on market share

SPECIAL ANALYSIS AND FINDING Mainly include charts to see the behavioral changes

SUMMARY

Result confirmation and suggestion from researchers