Marketing Research
Feb 8, 2012
WHY MARKETING RESEARCH?
MARKETING RESEARCH
 Build your business on facts; not gut-feel
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BCIT School of Business
Applied Research Liaison Office
BCIT IDEAS Workshop Feb 8, 2012
Avoid wasting time & money
Avoid costly mistakes
 Document the market
 Take it to the bank
KAREN PLESNER
karen_plesner@bcit.ca
© 2012 K. Plesner
© 2012 K. Plesner
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WHERE DO I START?
SECONDARY RESEARCH
Secondary
Research
Primary Research
 Qualitative
 Quantitative
© 2012 K. Plesner
Know your Market
Know your Customer
Know your Competition
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SECONDARY RESEARCH
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ADVANCED GOOGLE SEARCH
Cheap, fast, efficient …
… but watch out for:
 The credibility of the source
 The relevance of the data
 The date of the source
© 2012 K. Plesner
Karen Plesner
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Marketing Research
Feb 8, 2012
BCIT LIBRARY
EXAMPLES OF SECONDARY SOURCES
Industry Canada
Datamonitor 360
Small Business BC
Industry Associations
Know your MARKET
Know your CUSTOMERS
Prizm
PCensus
Stats Canada (Access
via BCIT Library)
Business Directories
Know your COMPETITION Industry Directories
Company Websites
Article Search
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YOGA
Photo Credit: Microsoft Clip Art
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© 2011 K. Plesner
PRIZM KITSILANO
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Photo Credit: BCIT Library
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INTERNET SECURITY
PRIZM KITSILANO
In-home Computer Service:
 Network security for
families.
 Managing personal data.
 Safe surfing for kids.
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Karen Plesner
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Photo Microsoft ClipArt
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Marketing Research
Feb 8, 2012
PCENSUS BURNABY
TARGETING
Postal Codes:
 Household income
$60,000+
 1+ children
Photo Credit: BCIT Library
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Photo Credit: BCIT Library
SNOWBOARDING ANYONE?
PRIMARY RESEARCH
Qualitative – Words
Quantitative – Numbers
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Photo Credit: broadbandsports.com
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QUALITATIVE RESEARCH
Purpose: to provide an indepth view of motivations
and why people think and
act the way they do.
Analyze the data with words.
Focus Group
In-Depth
Interview
Observation
Research
QUALITATIVE RESEARCH
Photo Microsoft ClipArt
Karen Plesner
© 2012 K. Plesner
Professional Fee:
$3,500-$5,000
per group
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Photo Credit: HartSki epicski.com
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Marketing Research
Feb 8, 2012
QUANTITATIVE – SURVEY
Critical Decisions in Survey Design:
Purpose: to test the
previous findings with
a larger audience –
statistical analysis of
the data.
 How do I reach the right
people and what is the best
way to communicate with
them?
 How many should I
interview?
 How do I design the
questionnaire?
QUANTITATIVE RESEARCH
 How do I analyze the data?
© 2012 K. Plesner
Photo Microsoft ClipArt
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QUANTITATIVE – SURVEY
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OTHER OPTIONS
What are your options?
 Do it yourself
 Free survey tools, but…
 You need the skills … BCIT Part Time Studies.
 Hire professional research help
COST for full research: $10,000-15,000
Interviews, data analysis, report.
Sample 500, 7-8 min. w. general population.
© 2012 K. Plesner
© 2012 K. Plesner
Panel Supplier
Omnibus Qs
$15-20/survey
$225-775/question
• 7-8 min.
• General population.
• You do your own
data analysis.
• Questions on a
shared-cost survey.
• Offered by major
marketing research
companies.
Or… hire a BCIT Marketing grad
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© 2012 K. Plesner
CONCLUSION
THANK YOU
Marketing Research is a big task
 There is a lot you can do yourself
 Acquire the necessary skills
KAREN PLESNER
 For the rest hire help
karen_plesner@bcit.ca
 Research companies
 Hire a BCIT Marketing grad
 Student Consulting projects
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Karen Plesner
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