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BUS306: Advertising and Promotion

Unit 4: Market Research   Market analysis is one of the most vital components of any type of business plan. Without verifiable information about the market to support your recommendations, the remaining components of your plan (objectives, strategy, and execution) are simply guesswork and will be of little value to an executive decision maker. In this unit, we will examine types of research data and the processes involved in collecting marketing data.

Unit 4 Time Advisory
Completing this unit should take approximately 10.75 hours.
 
☐    Reading: 4 hours
 
☐    Subunit 4.1: 2 hours
 
☐    Subunit 4.2: 3 hours
 
☐    Subunit 4.3: 1.75 hours

Unit4 Learning Outcomes
Upon successful completion of this unit, you will be able to: - identify the crucial elements of market analysis and the methods for collecting data; - choose an appropriate method for collecting data for market researc; - identify sources for primary and secondary data; and - measure the approximate size of a target market.

  • Reading: Launch! Advertising and Promotion in Real Time: “Chapter 5: Know Your Audience: SS+K Learns All About msnbc.com, Inside and Out”; Advertising & Society Review: William M. O’Barr’s “The Role of Research in Advertising”; and QuickMBA’s “Marketing: Market Research” Links: Launch! Advertising and Promotion in Real Time: “Chapter 5: Know Your Audience: SS+K Learns All About msnbc.com, Inside and Out” (PDF); Advertising & Society Review: William M. O’Barr’s “The Role of Research in Advertising” (HTML); and QuickMBA’s “Marketing: Market Research” (HTML)
     
    Instructions: Read Chapter 5 on pages 143-174, and then read O’Barr’s article on market research. Pay careful attention to O’Barr’s explanation of demographics and psychographics, as these are key factors for effectively segmenting an advertiser’s target audience. Last, read the QuickMBA webpage, which explains research design and data types. Be sure that you understand the difference between “marketing” research and “market” research.  These readings cover the material you will need to know for subunits 4.1 and 4.2.

    Reading these selections should take you approximately 4 hours to complete.
     
    Terms of Use: Launch! was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work’s original creator or licensee. Please respect the copyright and terms of use displayed on the webpages above. 

4.1 Market Data   4.1.1 Types of Data   - Lecture: YouTube: Leeds Metropolitan University: “Lawrence Bailey - Market Research Valedictory Lecture” Link: YouTube: Leeds Metropolitan University: “Lawrence Bailey - Market Research Valedictory Lecture” (YouTube)
 
Instructions: Watch this lecture from a leading UK market-research scholar. Bailey’s lecture presents an interesting comparison of qualitative and quantitative research from the perspective of the marketing practitioner.
 
Watching this lecture and taking notes should take approximately 1 hour.
 
Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

4.1.2 Primary and Secondary Data   - Lecture: University of Southern California, Marshall School of Business: Dr. Lars Perner’s “Market Research” Link: University of Southern California, Marshall School of Business: Dr. Lars Perner’s “Market Research” (iTunes U)
 
Instructions: Listen to Perner’s lecture on the key aspects of primary and secondary data, as well as a description of several research methods.
 
Watching this lecture and taking notes should take approximately 1 hour.
 
Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

4.2 Market Research   4.2.1 Consumer Behavior   - Lecture: University of Southern California, Marshall School of Business: Dr. Lars Perner’s “Consumer Behavior” Link: University of Southern California, Marshall School of Business: Dr. Lars Perner’s “Consumer Behavior” (iTunes U)
 
Instructions: Listen to this lecture on how marketers can interpret consumer behavior to improve their understanding of their market.
 
Watching this lecture and taking notes should take you approximately 1 hour.
  
Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

  • Web Media: YouTube: Rochester Institute of Technology's “RIT Eyetracking on Nintendo Wii (Short Version)” Link: YouTube: Rochester Institute of Technology's “RIT Eyetracking on Nintendo Wii (Short Version)” (YouTube)
     
    Instructions: Watch this brief video to see an example of how researchers can use eye tracking software to identify which elements in a television advertisement are of interest to the viewer and/or measure how online shoppers visually navigate a website, as described in Chapter 5 of Launch!. 
     
    Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

4.2.2 Research Methods   - Web Media: YouTube: Nottingham-Spirk Design Associates’ “Focus Group Research: Household Chemicals Packaging” and YouTube: Google’s “Working at Google NYC - Brainstorming @ Google” Link: YouTube: Nottingham-Spirk Design Associates’ “Focus Group Research: Household Chemicals Packaging” (YouTube) and YouTube: Google’s “Working at Google NYC - Brainstorming @ Google” (YouTube)
 
Instructions: Watch these two videos. The first demonstrates how focus groups can be used to collect data about consumer preferences. The second provides a quick look at a brainstorming exercise designed to improve the structure of a web page. 
 
Watching these videos and taking notes should take approximately 10 minutes.
 
Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

4.3 Market Share   4.3.1 The Market Analysis   - Reading: Tutor2U’s “Market Analysis – Defining the Market” and “Market Analysis – Introduction to Market Share” Link: Tutor2U’s “Market Analysis – Defining the Market” (HTML) and “Market Analysis – Introduction to Market Share” (HTML)
 
Instructions: Read these short briefs on market definition and market share.

 Reading these selections should take you approximately 15 minutes
to complete.  
    
 Terms of Use: Please respect the copyright and terms of use
displayed on the webpage above.

4.3.2 Measuring the Market   - Reading: Tutor2U’s “Market Share – Importance of Market Share” and “Market Share – Measuring Market Share” Links: Tutor2U’s “Market Share – Importance of Market Share" (HTML) and “Market Share – Measuring Market Share” (HTML)
 
Instructions: Read these webpages for an overview of measuring the target market.

 Reading these selections should take you approximately 30 minutes
to complete.  
    
 Terms of Use: Please respect the copyright and terms of use
displayed on the webpages above.
  • Activity: The Saylor Foundation’s “Market Analysis” Link: The Saylor Foundation’s “Market Analysis” (PDF)
     
    Instructions: Using concepts from Chapter 5 of Launch!, perform a preliminary market analysis to identify a target market segment for a new advertising campaign for a brand of your choice. Open the linked file for detailed instructions. When you are done, check your work against The Saylor Foundation’s Market Analysis Assignment Grading Rubric.
     
    Completing this activity should take you approximately 1 hour to complete.

Unit 4 Assessment   - Assessment: The Saylor Foundation's “Unit 4 Assessment” Link: The Saylor Foundation's “Unit 4 Assessment” (HTML)

 Instructions: Please complete the linked assessment. You must be
logged into your Saylor Foundation School account in order to access
this quiz. If you do not yet have an account, you will be able to
create one, free of charge, after clicking the link.