Lecture 5

Analyses - quantitative and qualitative

Nov 07 2024

Dipl. Ing. Martin Mravec, PhD., Marketing Management, University of Economics in Bratislava, Faculty of Commerce
Selected marketing analyses
methods
 Methods of marketing analyses

1. Quantitative (statistical analyses of hard data, market research)

2. Qualitative (small surveys, in-depth discussions, brainstorming sessions)

A modern marketing is data-based and it put a big emphasis on people skills and quality.

- Insight managers
- Ideation managers
- Big data analysts
- Market research managers
- ...

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Quantitative methods
 Quantitative marketing analyses

Quantity means to analyze a business phenomenon in size, volume or time

Important is objectivity, validity and reliability

Corellation analysis:

Is a statistical method that identifies strength of relationship between two or more variables.

Result is the range between -1 and +1

Close to value +1 means positive correlation (variable 1 is increasing and variable 2 is also increasing)

Close to value -1 means negative correlation (variable 1 increasing and variable 2 is decreasing)

Close to 0 values indicate low or no correlation between two variables

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 Quantitative marketing analyses

Correlation analysis marketing examples:

1. Increasing customer satisfaction drives higher sales – positive correlation

2. Increasing interaction with customer decreases his or her interest in product offer – negative
correlation (the customer was probably over-interacted and lost interest)

3. Delivery time changes do not affect sales volume – no correlation (for customer in is not so important
when the product will be available)

Please, try to find some example of positive and negative correlation

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 Quantitative marketing analyses

Regression analysis

It focuses on how the dependent variable changes in relation to changes in independent variables

When for example variable 1 increases, how it will affect variables 2, 3 or 4? Will it have impact more on 2,3 or
4?

For example:

NPS (Net promoter score) of your cinema customers is +32 (it is a dependant variable)

Using a regression analysis you can understand, which factor/factors are contributing to such a positive level of
recommendation.

Offer in food kiosk, Cleanliness of toilets, Comfort of seats, Location etc. (are independent variables)

It means that, how customers rated for example comfort of seats had the largest overall impact on
recommendation level - NPS.

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 Quantitative marketing analyses

Quantitative market research

- Data collection methods (online, CATI, face to face, consumer panel, retail panel)

- Coverage (target group, representative)

- Problem solving (experiences and satisfaction, new product development, advertising effectiveness –
pretesting and posttesting, market potential, brand awareness and image)

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Qualitative methods
 Qualitative marketing methods

1. Qualitative survey

2. Interview (In-depth interview)

3. Panel discussion

4. Brainstorming

5. Delphi method

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Qualitative survey

Questionnaires sent to experts to provide their opinions, attitudes, experiences and preferences

Rather small amount of respondents

Focus to drive insights

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In-depth interview

A 1to1 interview based on prepared scenario

Duration approximately 1-1,5 hour

Deep dive into respondent´s mind

Main goal is to drive valuable important details on experiences, attitudes, plans

Respondents can be: customers, doctors, scientists, managers, employees, students ...

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Panel discussion

Moderated discussion with usually 3-6, max up to 20 people

Rather homogeneous focus, all participants are oriented and skilled in the topic/field

Moderator is a professional expert able to drive outcomes from discussion

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Brainstorming

A method of group generation of new ideas and initiatives

Introduced in 1939 (Alex Osborn)

A lot of options and attitudes

Participants should be selected very precisely – smart, focused, fully familiar with agenda, deep
knowledge and expertise

Should be regularly used in companies to support idea and innovative thinking, enhance quality of
communication, market barriers, risks and opportunities identification ...

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Delphi method

It is a systematic qualitative method of forecasting by collecting attitudes and opinions from experts
based on repeated rounds of filling questionnaires

After each round, the facilitator prepare the executive summary for experts

It is used also in business environment when predicting market growth, sales, customer response
and future market complications

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Creative techniques
 Creative techniques

Creative techniques are an important element of managerial thinking and decision making. In many times
often used when routine approaches are not bringing expected fruits, so there should come on the table
more innovative and creative techniques to identify problem and find solution.

1. Idea maps (connecting ideas, facts and drawing a thinking) – main benefit, see it in complexity

2. Idea chairs (you are acting in different roles and are sitting in different chairs to play with your ideas
like for example: visionary, realist, critique)

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Thank you for listening
and discussing
Enjoy your day


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