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Marketing Research

Marketing Research. Marketing Research. The process of planning, collecting, and analyzing data relevant to a marketing decision. Gathering and presenting factual statements. Descriptive. Diagnostic. Explaining data. Attempting to estimate the results of a planned marketing decision.

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Marketing Research

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  1. Marketing Research

  2. Marketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision.

  3. Gathering and presenting factual statements Descriptive Diagnostic • Explaining data • Attempting to estimate the results of a planned marketing decision Predictive Roles of Marketing Research

  4. Management Uses of Marketing Research • Improve the quality of decision making • Trace problems • Focus on keeping existing customers • Understand the ever-changing marketplace

  5. Marketing Research Problem Determining what information is needed and how that information can be obtained efficiently and effectively

  6. Secondary Data Data previously collected for any purpose other than the one at hand.

  7. Sources of Secondary Data Internal Corporate Information Government Agencies Trade and Industry Associations Marketing Research Firms Commercial Publications News Media

  8. Advantages of Secondary Data • Saves time and money if on target • Aids in determining direction for primary data collection • Serves as a basis of comparison for other data

  9. Disadvantages of Secondary Data • May not be on target with the research problem • Quality and accuracy of data may pose a problem

  10. www The New Age of Secondary Information: The Internet • Search Enginesand Directories • Sites of Interest toMarketing Researchers (AMA, FTC, American Demographics, etc.) • Discussion Groups • Periodical, Newspaper, and Book Databases

  11. Research Design Specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed.

  12. Primary Data Information collected for the first time. Can be used for solving the particular problem under investigation.

  13. Advantages of Primary Data • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained

  14. Disadvantages of Primary Data • Expensive • Quality declines if interviews / questionnaires are lengthy • Reluctance to participate in lengthy interviews Disadvantages are usually offset by the advantages of primary data!

  15. Survey Research The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes.

  16. In-Home Interviews Mail Surveys Mall Intercept Interviews Executive Interviews Telephone Interviews Focus Groups Forms of Survey Research

  17. Focus Group Seven to ten people who participate in a group discussion led by a moderator.

  18. Advantages of On-Line Focus Groups • Speed • Cost-effectiveness • Broad geographic scope • Accessibility • Honesty

  19. Open-Ended Question An interview question that encourages an answer phrased in respondent’s own words. Closed-Ended Question An interview question that asks the respondent to make a selection from a limited list of responses. Scaled-Response Question A closed-ended question designed to measure the intensity of a respondent’s answer. Questionnaire Design

  20. Types of Questions inQuestionnaire Design

  21. Qualities of Good Questionnaires Clear and Concise No Ambiguous Language Unbiased Reasonable Terminology Questionnaire Design

  22. Observation Research A research method that relies on three types of observation: • people watching people • people watching an activity • machines watching people

  23. People Watching People Mystery Shoppers One-Way Mirrors Types ofObservationResearch People Watching an Activity Audits Machines WatchingPeople Traffic Counters Passive People Meter Observation Research

  24. Mystery Shoppers Researchers posing as customers who gather observational data about a store and collect data about customer-employee interactions.

  25. Experiment A method a researcher uses to gather primary data in which one or more variables are altered to determine their affect on another variable.

  26. Sample A subset from a large population. Universe The population from which a sample will be drawn. Sampling Procedure

  27. Sample Universe Probability Samples Non-Probability Samples Sampling Procedure

  28. Probability Sample A sample in which every element in the population has a known statistical likelihood of being selected. Random Sample A sample arranged so that every element of the population has an equal chance of being selected. Probability Samples

  29. Nonprobability Sample Any sample in which little or no attempt is made to get a representative cross-section of the population. Convenience Sample A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher. Nonprobability Samples

  30. Measurement Error Error when there is a difference between the information desired and the information provided by research Error when a sample somehow does not represent the target population. Sampling Error Error when a sample drawn from a population differs from the target population. Frame Error Error because the selected sample is an imperfect representation of the overall population. Random Error Types of Errors

  31. Field Service Firm A firm that specializes in interviewing respondents on a subcontracted basis.

  32. Field Service Firms • Focus group facilities • Mall intercept locations • Test product storage • Kitchen facilities • Retail audits Provide:

  33. Data Analysis • One-Way Frequency Counts • Record responses to a question • Cross-Tabulation

  34. Cross-Tabulation A method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions.

  35. Preparing and Presenting the Report • Concise statement of the research objectives • Explanation of research design • Summary of major findings • Conclusion with recommendations

  36. Following Up • Were the recommendations followed? • Was sufficient decision-making information included in the report? • What could have been done to make the report more useful to management?

  37. Impact of the Internet • Allows better and faster decision making • Improves ability to respond quickly to customer needs and market shifts • Makes follow-up studies and research easier • Slashes labor- and time-intensive research activities

  38. Rapid development, Real-time reporting Reduced costs Personalized questions and data Improved respondent participation Contact with the hard-to-reach Advantages of Internet Surveys

  39. Unrestricted Internet Sample A survey in which anyone with a computer and modem can fill out the questionnaire. Screened Internet Sample An Internet sample with quotas based on desired sample characteristics. Recruited Internet Sample A sample in which respondents are prerecruited and must qualify to participate. Internet Samples

  40. Sales Forecasting • Companies also use market research in order to predict future sales. • Look at historical data, sales analysis and predict what sales will be in the future. • **Important always but, even more so if your company is launching a new product or installing a new marketing plan based on research factors.

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