A sneak peeks of 'The world of of the buyer/user of insights' by Ray Poynter, ESOMAR Council Member.
During times of economic uncertainty, you might have to slash market research spend. But without data-driven understanding of your customers, it's unlikely that you will continue to be able to address their needs better than your competition. So what can you do to stay competitive and on budget?In this webinar, we'll explain how effective knowledge management can help you make the most of your market research by minimising unnecessary costs and maximising value.
Our theme this month is return on marketing investment (ROMI). But just that one Insight throws the discussion of this aging concept into very sharp relief. Just what is ROMI? Is it return on investment on the entire marketing effort? Or return on each element of that effort? we have to acknowledge that research is not just about measurement of marketing's effectiveness. Research should be about generating and predicting as well as about demonstrating and measuring. Yes. the ROI debate is important. But it should not overshadow the inherent creativity not only of marketing itself, but of research. Research provides Insight.
This paper summarizes the development of a new method of developing building and maintaining brands starting first with a brief description of how brand managers have typically operated in terms of brand budgeting and allocation why those processes are used and the challenges which they present. Why most brand managers today find themselves as brand resource allocaters rather than brand resource budgeters is then discussed. From there the technological changes which have made a new approach possible are summarized. Finally the framework for a new process is summarized that focuses primarily on the move from allocating brand resources that is from determining and measuring brand outputs to building and measuring brand investment outcomes.
More and more we seem to understand that the aim of media planning cannot alone mean to select the best bargain within the advertising vehicles available. An optimum use of media requires the integration of media planning along with the actual marketing planning. Thus, media decisions nowadays turn into strategic decisions. Questions regarding budget allocation or media mix in "the" saturated markets of today cannot be answered by the classic media selection programmes. Moreover, the classic programmes cannot give any realistic recommendation in view of market share developments of competitive brands. Saturated markets require a special planning programme, we call it SOM-Share of Mind, which takes into account, simultaneously, the advertiser's own advertising activties and those of the competition. The results of the enhanced evaluation, the SOM- scores, reveal the impact of "own" versus the competitive advertising contacts per target person against the background of the whole spectrum of the advertising exposures in the product field. This way, the question can be answered whether it is better to avoid competitive advertising by using different vehicles, or meet the competitor head-on.
The aim of this paper is to study so-called economic trend indicator surveys and their relevance as tools to prognoses and forecasts. The history of economic trend surveys is long, although the 1960s and 1970s paved the way for the rising popularity of this instrument, made possible by the mounting computing power of electronic data processing. This development also opened up for the computation of complicated macroeconomic models under a number of different assumptions. Especially because Economic Trend Indicator Surveys, ETISs, (which are simple measures) are often referred to in conjunction with complicated macroeconomic models, and because comments are more often made by politicians and economists than by marketing people, a tendency to look upon the ETISs as dealing exclusively with the economic side of development and not with the market-oriented side seems to have evolved. This paper shows that ETIs are widely used by Danish companies in the budgeting planning process and that a wide variety of sources are used. Furthermore, an analysis of time series shows that, selected with care, ETIs can actually throw light on factors affecting economic development in the near future and thus be used as 'early warning' indicators.
This paper demonstrates how the marketing value of a permanent coupon saving promotion system can be estimated by application of the TARGET MONITOR MODEL. An important finding is that the permanent coupon saving promotion can increase the quality of consumer franchise of a brand, like successful advertising is supposed to do. Consequently advertising campaigns and permanent saving systems may well be of a substitutive nature. Such a finding can have important consequences for the allocation of advertising and promotion budgets, as far as spent upon these marketing instruments.
This paper shares some ideas on the ways the Market Research Department can operate under various budget structures. Such structures are subject to pressures both from the changing demands of the Company, and from within the department. The question is raised "would the interchange of such information and experience between market researchers in Companies be helpful, and if so how could ESOMAR further such interchange?"
In recent years in the specialized sectors of B.V.A., I have been confronted with a complex problem common to diverse specific economic sectors. The major aim of the solutions sought was to provide advertisers responsible for advertising budgets very much smaller than the budgets of the general public, with reliable tools for measuring usage, audience, or choice of advertising at the cheapest cost possible, of course - and they had to be tools that could could reach unusual targets. Our research was therefore based on two concerns which may appear controversial at first sight: - The offer of tools with high reliability, thus enabling the study of very specific populations, which are difficult and sometimes impossible to reach with classical tools. - The offer of very competitive prices feasible for limited budgets. The following remarks are illustrated with several examples drawn from surveys carried out by our institute - first of all, in the field of agriculture, where the problem has been solved for several years. Secondly we launched surveys In the following areas: construction prescribers, cafes, hotels, restaurants (CHR), chemists, transport companies, amongst others.
In a company such as Regie Renault, the weight of studies carried out outside France is naturally important. Among these a large number are undertaken by our foreign branches in their particular countries. The studies to be discussed here will be those determined and directed by Central Services at Head Office. By taking as an example the 1984 Budget for Research the following allocation of resources can be established.