Imagine yourself as a brand manager of Pantene, and you’ve just received Nielsen’s market research report. Your brand marketing director is asking you to summarise key learnings form the Nielsen research and
Imagine yourself as a brand manager of Pantene
Imagine yourself as a brand manager of Pantene, and you’ve just received Nielsen’s market research report. Your brand marketing director is asking you to summarise key learnings form the Nielsen research and provide a proposal to reclaim Pantene’s lost share.
Your report should include,
Diagnose category and consumer trends
Analyse key causes of Pantene’s share decline
Provide a proposal covering marketing strategies you recommend for the brand to regain its share
You’re expected to reflect key learning from marketing concept, i.e. segmentation, targeting, positioning and 4P strategies.
STEPS IN THE MARKETING RESEARCH PROCESS
Step 1: Define the Problem (or Opportunity)
There’s a saying in marketing research that a problem half define d is a problem half solve d. Defining the “problem” of the research sounds simple, doesn’t it? Suppose your product is tutoring other students in a subject you’re a whiz at. You have been tutoring for a while, and people have begun to realize you’re darned good at it. Then, suddenly, your business drops off. Or it explodes, and you can’t cope with the number of students you’re being asked help. If the business has exploded, should you try to expand your services? Perhaps you should subcontract with some other “whiz” students. You would send them students to be tutored, and they would give you a cut of their pay for each student you referred to them.
Both of these scenarios would be a problem for you, wouldn’t they?
They are problems insofar as they cause you headaches. But are they really the problem? Or are they the symptoms of something bigger? For example, maybe your business has dropped off because your school is experiencing financial trouble and has lowered the number of scholarships given to incoming freshmen. Consequently, there are fewer total students on campus who need your services.
Conversely, if you’re swamped with people who want you to tutor them, perhaps your school awarded more scholarships than usual, so there are a greater number of students who need your services. Alternately, perhaps you ran an ad in your school’s college newspaper, and that led to the influx of students wanting you to tutor them. Businesses are in the same boat you are as a tutor. They take a look at symptoms and try to drill down to the potential causes. If you approach a marketing research company with either scenario—either too much or too little business—the firm will seek more information from you such as the following: